In today’s modern world, many businesses are choosing to cut back on the amount of travel that their employees and executives engage in, not because travel in itself is an issue but because it seems like an unnecessary expense with the amount of digital communication options we have access to. From video conferencing options to e-mail and instant chat systems, connecting with global partners is as easy as dialing in the number or sending off a quick message. However, staring at a glowing screen is not a replacement for getting your feet on the ground as discussing proposals in person, meeting clients face-to-face, and seeing workflows on-site all provide value.
- Opportunity for Networking Can Occur Spontaneously. One of the more obvious benefits of traveling for business is the fact that you get your employees out in the field and meeting new people. In most cases, you are going to have your employees going to pre-determined meetings, face-to-face business transactions, and events but there is also the possibility of meeting new individuals along the way. This is how you come across new contracts, new business partners, and new projects, by capitalizing on the networking opportunities that existing customers provide you. Without in-person meetings, these would never become apparent because networking would be at a minimum.
- Personal Interaction Still Needs to be Fostered. This is one of the biggest reasons why your company needs to be engaging in business travel. Face-to-face meetings not only close more business deals but they reduce miscommunication, foster a team spirit, and increase understanding, empathy, and compassion for those who you are working with. Fostering that personal connection with those who you are partnered with can lead to long, productive business relationships as it minimizes tension, and allows you to outline common goals for mutual success.
- Visibility Establishes Leadership. Proper leadership not only brings inspiration to the company but it fosters a sense of confidence in both yourself as a leader and in your company as a whole. Beyond this, as a leader within the company, your job is to motivate those under you and in order to do this, you need to have authority. If you are not visible to your colleagues, you will have no authority, you will not be able to motivate or inspire because you will lack the interpersonal connection. The same goes for your customers. Invest in them by being visible and they will invest back into you and your company.
- More Likely to Close Business Deals. When it comes to closing business deals, face-to-face meetings are essential. In most industry segments, these types of meetings are absolutely necessary to most company leaders. According to Oxford Economics, your rate of converting prospects into customers doubles when face-to-face meetings are utilized promptly and properly. When it comes to your professional future, investing into those who you’ve never met doesn’t seem like a good idea.
- Enjoy a Fresh Perspective and an Objective Viewpoint. As a business, it can be very easy to get stuck in the same viewpoint when you work in the same office every day behind the same computer screen. This day in and day out can have an adverse effect on both creativity, inspiration, and drive. By traveling to other cities, regions, and countries, you get away from this mundane routine and come into contact with new perspectives and viewpoints.
- Be Able to Identify New Trends, Markets, and Materials. By taking a look at how other countries generate ideas, use technology, and conduct business in general, you are able to identify new areas of interest for your business. This can be anything from utilizing new materials on the market, finding new markets, and even coming across up and coming trends. By getting away from your business on a trip, you can gain an objective perspective by evaluating the bigger picture of the business as a whole.