Incentive Research Foundation has listed seven Incentive Travel stats that every Incentive travel planner, manager and executive should know. A quick look.
Incentive Research Foundation | MICE INDIA | 20 April 2015
Incentive Travel – Key to recognise Sales
In honor of the first North American Meetings Industry Day, the Incentive Research Foundation has listed seven quick, important incentive travel stats that every incentive travel planner, manager and executive should know.
- 46% of U.S. businesses use Incentive travel
- U.S. Businesses spend $22.5 Billion annually on incentive travel
- Organizations that provide non-cash rewards such as incentive travel have 3 times higher revenue increases
- 100% of Best-in-Class companies (those with the highest customer retention and sales growth) offer group travel to recognize year-end sales success
- Incentive travel is not just for sales. Of companies that run awards programs, 53% use incentive travel to recognize sales, 43% to recognize employees, 33% to recognize channel partners, and 27% to recognize customer loyalty
- Properly designed and executed incentive travel programs can increase sales productivity by 18% and produce an ROI of 112%
- Per person incentive travel budgets are now up to an average of $3,440
The IRF is a private, not-for-profit foundation, funds research studies and develops education serving all segments of the global incentive and recognition industry. The research and education focuses on incentives, recognition, and motivation in the workplace with specific research in to engagement, non cash awards. Over its 20 years in existence the IRF has underwritten over 80 projects and committed almost $2 million to research and education. These research studies have positioned the Incentive Research Foundation as the global resource for independent, cutting-edge information and analysis of incentive marketing practices and applications. Each year the IRF executes 10-12 studies on trends.
For more, visit>> IRF