There are many options available for companies looking to build customer loyalty, ranging from points programs, individual travel incentives, and group travel experiences. Depending on the industry you are in, incentives can target specific customers, markets, or vendors that you would like to build relationships with.
Particularly in the building and electrical industries, meeting with customers face to face can mean the difference between success and failure. An article published in The Electrical Distributor (tED), an electrical distribution industry publication, spoke of the benefits of building relationships with customers. From small events like barbeques to group travel experiences, spending time with customers and rewarding them for their business is one of the best ways, no matter what the economy, to see increased loyalty and repeat business.
In the article, a case study illustrated the benefits that were achieved on a group incentive travel program for an electrical distributor. Among other significant achievements, there was a 22% increase in sales among the participants.
The group incentive travel program not only gave customers a chance to meet new people and bond with company executives (trip hosts), it left them with a positive experience to remember in the future when choosing who to do their business with.
One of the best ways to differentiate yourself and capture share of mind is by offering customers a unique and exciting incentive trip with a consistent and robust communications/promotions campain and qualification criteria that's easy to understand and also relatively easy to track.
The article referenced above from tED is a great demonstration of the importance of showing customers how much you value their business. To learn more about how to plan a successful group incentive travel program, download our free guide below.