Travelling has proven to be an important part of a companies growth. Recent studies conducted by Oxford Economics revealed that for every dollar a company invests in business travel, they reap an average of $12.50 in creased revue and $3.80 in profits. Business travel and its benefits does vary from industry to industry, and Christoph Grizzard believes that the direct marketing industry depends on travel to a certain degree for growth.
How you ask?
Christoph Grizzard explains, "I have recently returned from a business trip in Switzerland. Meeting up potential clients on a one on one basis is crucial to developing a solid relationship. Getting to know your clients on a one to one basis helps build trust and give your that competitive edge. Running a direct sales business has shown me that face to face contact with people is irreplaceable. Technological advancements like Skype have made keeping in touch easier, however I recommend that the initial relationship is build on face to face meetings."
The study also showed that executives and business travellers surveyed estimate that 28% of current business would be lost without in-person meetings. (http://planyourmeetings.com) The study also demonstrated that in-person meetings have a strong effect on whether clients actually start working with a company or not. Christoph Grizzard agrees with this finding stating, "part of my job as a CEO is client development. New clients always helps increase our growth in our current market as well us helps us expand into new sectors and geographic locations. With all our clients we pride ourselves in having open and constant communication with them. A large percentage of our meetings is conducted face to face and we feel this gives us a competitive edge."
Roger Dow, president and CEO of the US Travel Association added to the findings by stating, "Business travel is economic stimulus and in order to grow business have to invest" The Oxford Economic study covered 14 economic sectors over a span of 13 years. Findings were verified through a combination of three separate surveys of corporate executives and business travellers and a broad review of related research before being reviewed by Dr. Martin A. Asher, adjunct professor of finance at the Wharton School.
Christoph Grizzard found this research interesting as it reinforced his business client acquisition strategy.
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