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Why is travel for business important to companies ? (Part 2) 

To create better ideas

Whether because we perceive inspiration, competition, or fear from in-person meetings, the fact remains that the quality of the ideas we generate when face to face is better than when we’re distant. Several studies show some startling advantages when comparing in-person meetings against virtual ones. When in-person, we generate 28.1% more ideas overall. That’s valuable in its own right, but even better is the fact that idea quality/originality goes up by 12.5%, as well. Similarly, the mean level of idea type flexibility increases by 16.7% when face to face. So, if you’re serious about stimulating more, and more creative, ideas, try meeting outside the home office.

To create trust with small talk

According to recent findings, we judge others according to their trustworthiness/warmth and competence/strength, in that order, because strength before trust elicits fear. “Even a few small nonverbal signals—a nod, a smile, an open gesture—can show people that you’re pleased to be in their company and attentive to their concerns. Prioritizing warmth helps you connect immediately with those around you, demonstrating that you hear them, understand them, and can be trusted by them.

Two of the best ways to build trust stem from in-person presence. First, pay attention to non-verbal cues, such as genuine smiling and straight posture. Such factors are difficult or impossible to convey remotely. Second, make time for small talk. Not empty conversation about the weather. Real questions that show an interest in the other party’s life. These are the sort of conversations that spring up outside the conference room or over lunch. Such trust is hard to quantify, but it can prove invaluable in negotiations and relationship-building.

 To be more profitable

  •       Every dollar spent on business travel yields $12.50 in incremental revenue.
  •       The average U.S. business would shed 17% of profits in the first year of eliminating business travel.
  •       28% of current business would vanish without in-person meetings.
  •       In-person meetings convert roughly 40% of prospective customers into clients; only 16% convert without in-person meetings.
  •       The majority of business travelers claim that 5-20% of new customers stem from trade show participation.

So, can your company afford not to have business travel? Of course not.