Incentive travel is a powerful tool that life insurance distribution companies can use to improve their sales metrics and provide higher quality service to their clients. However, in order for your incentive travel program to be a sustainable, long-term solution, it’s important to plan your event in a way that generates excitement and makes your insurance agents feel like their efforts were worth it.
Successful incentive travel programs market themselves. Selecting destinations and themes that your agents can get excited about generates buzz and maximizes participation. Following through by providing a thoughtful, memorable incentive travel experience will create positive word-of-mouth opportunities that will make next year’s incentive travel promotion even more successful.
Not sure where to start? Here are five simple steps to follow to plan and execute a successful and memorable incentive travel trip.
1. Audience Analysis
In order to effectively motivate your insurance agents, you have to understand what makes them tick. For instance, if your incentive travel program is targeted toward top-performing independent agents, a trip to Cancun might not be all that compelling. In fact, a top-performing agent might receive dozens of such offers every year. In this case, you might need to spring for a more exclusive destination. However, for a group of middle-tier captive agents, a trip to Cancun with all of their friends from the office might be the trip of a lifetime!
Demographics are another consideration to take into account. What is the average age of the agents that are participating in your incentive travel program? For a younger group of insurance agents, a Woodstock-themed event might not resonate with them. But a modern EDM festival themed event might be just the ticket.
2. Identifying Objectives
While incentive travel is a lot of fun, it’s also an important opportunity to promote the long-term goals of your brokerage by capitalizing on the positive emotions of the trip. Is your goal to retain top captive talent? Build brand loyalty with independent agents?