We see marketing as the great equalizer, a business discipline capable of dramatically increasing a small company's footprint in the marketplace.
Top performers habitually integrate sound marketing concepts with market demands.
Measurement & Evaluation
With a little more attention to details, incentive travel businesses can automatically improve marketing ROI. However, there are no substitutes for measurement and evaluation mechanisms. Each marketing campaign should be subjected to quantitative analysis, paying close attention to the amount of new and repeat business it generates for your company. If a campaign or technique fails to meet your expectations, carefully evaluate the reasons for the failure and adjust your marketing mix accordingly. Simple quantitative tools are a good start. However, incentive travel businesses often choose to consult with professional marketers for assessment tools and strategic insights.
The field of marketing has embraced the digital age with enthusiasm and vigor. Although that doesn't make the marketing fundamentals that applied twenty years ago invalid, many marketing principles are being reinterpreted through the lens of today's technology. The consequence for incentive travel businesses is the need to increasingly incorporate technological marketing solutions into the marketing mix. Despite the initial cost associated with many technological solutions, the long-term payoff for the right technologies almost always outweighs the upfront expense.
Broadcast advertising has clearly taken some hits over the past couple of decades. The number of consumers who tune-in to local TV and radio has plummeted, and the industry has struggled to regain its footing. Broadcast advertising is down - but it's not out. Today's leading incentive travel businesses continue to find ways to attract audiences to their brand through broadcast media. Best practices for the use of broadcast advertising require businesses to evaluate their target audience's listening or viewing patterns and then tailor their media purchases to specific media outlets rather than blanketing the geography with brand messaging. When marketing incentive travel businesses, local consumers may represent a sizeable portion of total revenues, making local radio and other broadcast media viable marketing channels -- but only to the extent that you match the station's audience to your customer base.
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