10 Ways Travel Can Transform Your Organization
10 Ways Travel Can Transform Your Organization
Business travel is more than just an extraneous perk – it can actually be a powerful source of growth for your organization. Let’s look at some of the ways that travel can transform your business.
1. BOOSTING MORALE
A corporate travel program can be a powerful way to boost morale within your organization. It can inspire your team to do their best work. It can also help you retain your key staff.
The right program can make employees feel recognized for their efforts and appreciated. This is a very positive message that will make a difference in the attitude of your team.
2. Becoming More Adaptable
Knowing how to adapt to any situation is incredibly valuable in business. Travel is a fantastic way to learn this skill. When you travel, you are pushed out of your comfort zone into new experiences and often have to figure out how to deal with them.
Every travel challenge that you face, from booking a hotel in an unfamiliar city to figuring out how to get from Point A to Point B, will hone your adaptation skills. It will almost certainly ensure that you are able to handle any situation the world throws at you.
3. Increasing Profitability
Does business travel directly boost your bottom line? According to a report by Oxford Economics USA, it does. The reports states that corporate travel benefits companies by improving client retention, benefiting business development and offering networking opportunities. The report also found that business travelers and executives both estimated that 28% of current business would have been lost without in-person meetings.
Oxford Economics also claims that, or every dollar invested in business travel, companies gained $12.50 in incremental revenue. Their report states that he average business in the USA would surrender 17% of its profits in the first year if it eliminated business travel. Talk about transformative statements regarding business travel!
4. Opening Up Networking Possibilities
It’s always worth traveling somewhere new in order to take part in a networking event. These events are an incredibly valuable opportunity to meet other major decision makers in your industry and form new profitable partnerships.
When you meet the right person, it can really open doors. The more people you meet, the more you build your network and increase your likelihood of success. So, plan to travel to many different networking events. The cost of this type of travel will pay off immensely in the connections you make.
5. Building Relationships
Business travel is all about investing in relationships. When you create face-to-face relationships with your customers and collaborators, it can give your business a significant competitive advantage.
You will be building a connection that cannot be forged in any other way. Meeting in person creates an emotional bond and makes the relationship stronger than it could ever be if it solely existed online.
6. Understanding Other Cultures
Let’s consider for a moment: an American company that wants to expand into the European market. They might have had a lot of success in the USA, but will the same strategies allow them to succeed in Germany, France or the UK?
Cultures are different. The same sales strategies, marketing techniques and business structure that worked in one country may not work in another. Travel will help your organization navigate these differences better and adjust correctly.
It allows you to spend time in the country you are planning to expand into. Get to know their business etiquette, what the average person values most, what type of messages appeal to the public. Once you learn the differences, you can adjust your business efforts appropriately when you expand globally.
7. Learning Another Language
Think of how many more collaborators, clients and customers you could potentially work with if you spoke another language. When you learn how to communicate in a new language, you open up another world of possibilities.
When learning a new language, there’s no better way to develop your skills in that language than to practice it with real native speakers on your travels. This makes business travel an asset both personally and professionally.
8. Shaking Up the Routine
When we get stuck in old habits, we can become prone to boredom. Work becomes stagnant. We have less momentum. If your employees are doing the same things every day, they can end up feeling in a rut and lose their creative spark.
Going somewhere new can break up the routine and make your key players excited about their roles again. It can also improve morale about the direction the company is heading. That fresh energy will give the company a much needed boost of inspiration.
9. Interacting with Your Peers
Traveling to conferences and interacting with other companies in your niche is a valuable opportunity to watch what they are doing. You may learn a lot from them this way. You can see what is working for them and take inspiration from it. You can also see what is not working for them, so that you can learn what to avoid.
This is a very smart business strategy. After all, their customer base is very closely aligned with yours, right? You can learn a lot by paying close attention to what they do. What better way to do this than seeing them at an event or a conference and getting to know what they are up to?
10. Creating Content
Whenever you travel somewhere new for business, the experience provides perspective. It acts as inspiration for a lot of great content for your brand. This type of content is really effective for building an online presence and establishing authority in your niche.
You can use your travel experiences to create content in a number of ways, including:
- Writing a blog post summarizing the most important things you learned at a conference. (It helps to take notes during the event, so that you can reference them later.)
- Sharing photos and videos of the event on your social media channels, including Twitter, Facebook, Instagram and LinkedIn.
- Interviewing several speakers and attendees for an event “roundup” piece.
These are just 10 of the ways that travel can benefit your organization.
Do you have any travel planned for 2018? Did you know that Travelers Q has expert business travel planners who can make sure that all aspects of your trip go smoothly, even if they’re already booked? Contact us today to learn more about our corporate travel services!
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