Corporate clients need to help their clients navigate a tough economic climate, says Pleo chief marketing officer James Keating
Following an unforeseen and challenging couple of years, it now seems that business travel is back, with easyJet reporting bookings have even reached pre-pandemic levels. Yet for business travel firms, the economic climate might be about to throw a spanner in the works, with the cost-of-living crisis and the recession convincing cost-cutting organisations to take travel out of their budget.
Fortunately for travel professionals, there is a strong argument to make for the value of business travel – especially at a time of economic turbulence. Long gone are the days when a work trip would be an excuse to top up that tan. Instead, making time to meet prospective clients can be integral to customer relationships and sales, with 86% of workers seeing business travel as key to achieving their goals, according to the GBTA. Connecting even partially remote teams with in-person planning sessions and workshops is also hugely relevant, even in a digital world.
For the cost-conscious though – aka, all of us right now – this might not be enough to get bookings underway. With this in mind, below I explore the arguments travel professionals can make for impactful, and financially sustainable, travel.
Save them green by going green
The motivation for encouraging your corporate clients to opt for sustainable travel options goes far beyond cost-cutting. With COP27 fresh in our minds, plenty of organisations will be appraising their impact on the planet. Clients will also be keeping a close eye on what they’re doing to fight climate change in an emissions-heavy industry.
Swapping train journeys for flights is the most obvious way of saving emissions and money. But for many businesses, it means a chunk of time when their employees are on the go, and away from their desk. Yet the world has evolved and there are opportunities for hot desking on public transport – especially when planned around quiet carriages and ways to bypass dodgy train WiFi. When it comes to accommodation, there are fewer carbon emissions (and pennies spent) from using rented accommodation over hotels.
With the UK’s climate disclosure requirements set to rise up every business’s agenda in the near future, the sooner customers plan for sustainable travel, the better. This will save them hassle, and money, in the long run.
Ensure they’re prepared
There was a time, during lockdown, when our responsibility to others extended solely to our house plants. So it’s no surprise that now, with the return of business travel, some customers might be a little dizzy from the added responsibility, especially in a climate when there’s more to be gained and lost with every penny spent.
This is why preparedness is key and why corporate customers should be encouraged to put systems in place that eliminate the spending risk from business travel with an up-to-date travel policy. This can include qualifiers for travel that tie into its new purpose. For instance, a baseline for the number of client meetings per trip, or percentage likelihood of a sales conversion. Also, working with your clients to identify cheaper times of year to travel and planning well in advance can save them a fortune.
Becoming aligned on these factors means that when that trip is booked, it is done so with confidence that it is a worthwhile investment—and everyone, most of all the person going, is aligned on its purpose.
Show them the route to hassle-free travel
Another detractor from business travel can be the admin that comes with it, with every trip responsible for a mountain of expenses that draws your finance team’s attention away from more important matters. Far from ideal, at a time when the finance team needs to remain focused, agile and productive enough to see out the current economic climate.
Such a set-up also means businesses lack real-time visibility into their outgoings and are essentially flying blind when it comes to cash flow. If business travel is set to be financially sustainable, then you should encourage corporate customers to look into expense management to take the sting out of the manual admin. The on-the-go element of expense management is of particular value here, as the team back in the office will receive real-time updates on spending, without needing to wait until the person returns from their trip.
This level of transparency provides a to-the-minute overview of business travel spending and ensures that the only thing a jet-setting employee brings back for your finance team is a dodgy souvenir from the airport.
Making the miles go further
Travel has a major role to play in business success in 2023. The key for travel professionals is persuading clients and prospective customers that investing in it and maintaining financial health are not mutually exclusive – and that, in fact, one can benefit the other.
Lockdowns and travel restrictions over the past few years have shown us that travel really is a luxury. But for businesses, especially now, it is certainly not an indulgence.