In an increasingly global world, it is no surprise that corporate travel has increased significantly over the years. In the last decades, many European markets grew considerably in this sector: in the UK, investment increased from around €32 million in 2010 to €40,91 million in 2017. In the same period, the German market grew by more than €21 million.
Despite the 90% cut in corporate travel in 2020 caused by the COVID-19 pandemic, companies continue to value face-to-face meetings to grow their businesses. The truth is, even with all the technology available, in-person meetings still benefit companies, their businesses, and their employees.
The importance of travel for your company
Client acquisition
Technologies like email and web conferencing platforms are excellent tools to keep in touch with existing partners and clients. However, for the key moment that is acquiring a new client and fostering new professional relationships, there is no better alternative than meeting face to face.
First, the physical travel of your team will be received as a sign of respect by your potential client as it reveals your investment of time and money to meet with them. Additionally, in-person meetings are more conducive to less formal moments, such as going out to dinner or for a drink after a day’s work. These occasions turn into excellent opportunities to establish trust and common ground between all parties.
Close a deal more quickly
Business trips are useful for much more beyond signing a new contract. They are also unique opportunities to learn about the cultural norms of your potential partners and show off a human side to your company. By meeting in person, you will also allow your clients to get to know your employees, thus facilitating communication among all and avoiding awkward misunderstandings due to communication errors in written messages. This way, even though your initial contact online or by phone may allow you to reach your client faster, a face-to-face meeting is essential to close the deal more efficiently.
More productive and satisfied employees
Young professionals entering the workforce are increasingly valuing companies with an international business model and the possibility to travel for work. These new employees look for workplaces that allow them to discover new destinations while developing their professional skills – the so-called bleisure trips. For companies, it is important to create these opportunities thereby increasing employee productivity and satisfaction at work.
