Does saying thanks to business associates make a difference? Research shows ‘thank you’ has a positive effect in business-to-business associations – people feel appreciated and the relationship prospers as a result.
Increasing market share in a crowded marketplace
A travel wholesaler looking to increase market share with travel agents designed a ‘thank you program’ with a prepaid gift card that delivered an increase of 5% in market share.
Working with Corporate Prepaid Cards, the travel wholesaler planned an ongoing program of incentives that showed appreciation for continuing relationships between wholesale sales representatives and the agent. Reps would deliver to their agent a $100 branded Prepaid Visa card for every $10,000 booked.
The success of ‘thank you’
The success of the program can be attributed to the reward being linked to both sales and the ongoing relationship between the wholesaler and the travel agent.
The benefits of the $100 branded prepaid Visa card:
Increased market share by 5%
Strengthened the relationship between the wholesaler and the agent
Showed appreciation of targets achieved
Provided a positive reason for the sales rep’s call
Reminded the travel agent of the wholesale brand each time it was used
Could be used worldwide at any merchant that accepts Visa
Gave the recipient the pleasure of choice.
Studies show the benefits of gratitude
According to Harvard Medical School, employees feel motivated to work harder for managers who remember to say, ‘thank you’. There have been numerous studies on the positive relationship between gratitude and work engagement.
In the complex world of travel, agents and wholesale travel businesses are constantly looking for ways to engage customers and incentivise them to use the services of agents rather than the do-it-yourself process of booking online.
Appreciating knowledge and experience
Travel wholesalers are both experienced travellers themselves, skilled and knowledgeable about all aspects of the industry and required to keep up with the latest regulations and travel advice. Their ability to design and develop package tours that are attractive to