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The Social Capital of Travel Incentives in Sales Teams

Money is a tried-and-tested incentive motivator. Everyone wants more of it, and sales teams roll up their sleeves to reap those lucrative commissions. But there’s a complementary strategy for managers to consider. It’s the social capital of travel incentives and their potent driving force in strengthening team cohesion and sale optimisation.

From fabulous foodie feasts to soothing weekend retreats, experience-based incentives inspire sales staff to perform at their peak.

Defining Social Capital

Before discussing why travel incentives cultivate abundant social capital, let’s examine what the term means. In this context, social capital refers to the shared values that let staff work together as a team to achieve a common goal.

Within a sales team, social capital is the desire to increase lead conversion rates. After all, it’s the one KPI that matters in this line of work.

Travel as a Social Currency

So, what does travel have to do with selling more stuff?

Monetary incentives rarely get discussed in the public realm. Experience-based rewards, on the other hand, are a whole different thing. Rather than play down their achievements, travel incentive recipients can freely boast in the office, on social media, or wherever they please. Unlike income, openly discussing these incentives is encouraged rather than uncouth.

social capital of travel incentives

Public Pride

There’s no denying it. Achieving that big bonus gives sales staff a grin from ear to ear. But most choose to keep their accomplishments on the down-low.

Receiving a travel incentive, on the other hand, lets them celebrate that pride. For workers yearning to earn the admiration of their peers, a travel incentive may prove more desirable than a financial reward.

FoMO

The fear of missing out is a motivator so potent it’s earned its own acronym. FoMO is powerful for communal get-togethers when potential participants feel terrified of being excluded from the group. As inherently social creatures, humans will do anything to stake a place in their tribe.

Provide your top-performing employees with an unforgettable event, and FoMO will motivate everyone to qualify for the next knees-up. Conversely, the winners get a juicy reward to look forward to collectively.

Fostering Friendly Competition

There’s nothing like a bit of cheerful competition to ramp up conversions. While your team will always compare statistics each month, a sales-based travel incentive gives them something more tangible to shoot for.

Friendly competition doesn’t just drive performance. When your sales staff fiercely attempt to outdo each other, they learn to work better as a team.

The Bonding Experience

As elite high-performers attending a prestigious event, the winners will bond over their achievements. Shared experiences have a knack for strengthening interpersonal relationships and boosting morale.

This isn’t a one-off phenomenon. Staff will discuss memorable travel incentives around the water cooler for many more years to come.

dining is a type of social capital of travel incentive

Savour the Social Capital of Travel Incentives with Kiff & Culture

Pulling off a successful travel incentive is no easy feat. With catering, transport, and accommodation to account for, you need an event-planning pro with in-depth expertise.

As your go-to specialist in SEQ and Northern NSW, Kiff & Culture has the know-how to create an unforgettable event. Learn more about our travel incentive programs, or drop us a line to discuss your plans.  

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