The business environment has totally changed now from what it was previously. To sell a product or service is a difficult task and can be executed correctly usually only by trained sales executives.
Travel incentives are methods that companies use to increase their sales, increase profits, retain clientele, improve employee productivity, enhance product or service awareness and promote business. Companies do so by offering a free travel package with the purchase of a product or service. Let’s understand this in an example.
A car dealer offers a free travel package to anyone who purchases a new car. If they want to make it more attractive, then they can increase the value of the travel package or the costs associated with the travel package and make it a lottery system. So that increasing the cost will not mean a loss and customers will also take part more actively. There are two types of travel incentives that a business can use.
Fulfillment travel incentive is the first type; that means the company issues a gift certificate or a coupon to the customers. The customers are then expected to present this gift certificate or coupon when they want to take advantage of this travel incentive.
Before giving out the tickets for tour and travel, most companies ensure that all the requirements to take advantage of the travel incentives are fulfilled. The best feature of the travel incentive package is that its cost is low. Business owners can buy the number of travel vouchers according to the number of employees who deserve free travel incentives.
Breakage is another type of travel incentive that companies offer. Breakage means that more money is made from those people who do not use their issued certificates but money cannot be made from those people who have used their gifts or certificate.