closing the deal - American Express Global Corporate Payments
CLOSING THE DEAL
BUSINESS CLASS
FAC E-TO - FACE BU S IN ESS IS STIL L
IN PARTNER SHIP WITH
A M U ST
FAC E-TO - FACE BU S IN ESS IS STIL L
IN PARTNER SHIP WITH
A M U ST
Is the “road warrior” going the way of the switchboard operator — superseded by affordable, tech-driven alternatives to in-person meetings? The answer is a resounding no, according to a new survey conducted by American Express Global Corporate Payments and The Wall Street Journal. Today’s marketplace still needs the business traveler — especially in certain scenarios.
The Wall Street Journal news organization was not involved in the creation of this content.
CLOSING THE DEAL
FAC E-TO - FACE IN COLLABORATION WITH
BU S IN ESS
IN PARTNER SHIP WITH
IS STIL L
IN PA R T N E RSHIP WIT H IN PA R T N E RSHIP WIT H
A M U ST
IN PA R T N E RSHIP WIT H
Business Travel Stable and Growing
56% BUSINESS CLASS
of respondents say they are taking the same number of business trips or more as they were five years ago.
• Their increased travel schedule is primarily the result of a new or FAC E-TO - FACE expanded role (77%), but nearly one in three (32%) say they BU S IN ESS “feel it’s more important than SHIP everWITH to hold face-to-face meetings.” IN PARTNER IS STIL L AM U ST
•Just one in 10 executives (13%) cut back on travel for budgetary reasons.
When to Meet in Person When to Meet Virtually
• Looking ahead five years, more than two-thirds (68%) predict the same frequency of business trips or more.
Surveyed executives reveal which business initiatives demand the personal touch and which can be done remotely
STATUS UPDATES
PROPOSAL/ PRESENTATION REVIEWS
PROBLEMSOLVING
RELATIONSHIPBUILDING
CLOSING DEALS
Face-to-Face Meeting
14%
38%
54%
50%
88%
In-Person Entertaining
4%
0%
1%
31%
3%
Web/Video Conference
25%
32%
13%
4%
0%
Email
40%
23%
8%
4%
4%
Phone Call
16%
7%
24%
12%
4%
Tech-Enabled Meetings Are Prevalent
76% 91%
of respondents are more likely to tap into technology (such as Web conferencing) for business meetings than they were five years ago. have experienced challenges, such as: •D ifficulty reading clients’ body language and expressions with remote conferencing — the No. 1 problem (60%). This is the kind of critical issue with no easy tech-solve. • Technical glitches (encountered by 55% of respondents).
Planning Of those respondents with a company travel services department/provider, nearly all (90%) say they research their own travel options. Their reasons:
67%
say they can find better travel times and lodging options.
45% Meeting in Person Is Critical Digital communications are preferred when the stakes are small. But for businesscritical encounters, nothing matches the value of a face-to-face meeting:
81%
rate connecting in-person — either in-office or via entertaining — as the optimal way to build relationships.
54%
consider communicating face-to-face as the best way to solve a problem.
88%
say nothing else compares to sitting with clients face-to-face to lock in the deal.
want to leverage their personal rewards/loyalty programs.
37%
want to add vacation time to their trips.
Booking And even though their companies have a travel services department/provider, 61% book all or part of their itinerary themselves.
62%
want the ability to find options that work better.
51%
want to feel more in control of their travel itinerary.
CLOSING THE DEAL
FAC E-TO - FACE BU S IN ESS
IN PARTNER SHIP WITH
IS STIL L A M U ST
How Can Travel Service Providers Improve?
BUSINESS CLASS
FAC E-TO - FACE
Today’s business want to decide for BUtravelers S IN ESS
themselves when they travel and where they stay IN —PARTNER and SHIP WITH IS STIL L they want to accrue personal points for it all. A M U ST
But that’s just the top of their list. The 21st century road warrior also wants:
46% Better scheduling/ hotel options
38%
35%
32%
Mobile travel apps (for itinerary/ documents)
More effective tools for managing flight delays
Better off-hour access to travel services
31% Real-time travel updates
20% Appropriate travel warnings
16% Faster travel services response
Who Took the Survey? In October 2014, The Wall Street Journal fielded a survey to WSJ Opinion Leaders, an online insight community. Among those 609 surveyed: $346,551 is the average household income; 55 is the average age; 40% are C-level executives; 24% are top management (senior vice presidents, vice presidents, executive directors).
BUSINESS CLASS
FAC E-TO - FACE BU S IN ESS IS STIL L
IN PARTNER SHIP WITH
A M U ST
FAC E-TO - FACE BU S IN ESS IS STIL L
IN PARTNER SHIP WITH
A M U ST
Is the “road warrior” going the way of the switchboard operator — superseded by affordable, tech-driven alternatives to in-person meetings? The answer is a resounding no, according to a new survey conducted by American Express Global Corporate Payments and The Wall Street Journal. Today’s marketplace still needs the business traveler — especially in certain scenarios.
The Wall Street Journal news organization was not involved in the creation of this content.
CLOSING THE DEAL
FAC E-TO - FACE IN COLLABORATION WITH
BU S IN ESS
IN PARTNER SHIP WITH
IS STIL L
IN PA R T N E RSHIP WIT H IN PA R T N E RSHIP WIT H
A M U ST
IN PA R T N E RSHIP WIT H
Business Travel Stable and Growing
56% BUSINESS CLASS
of respondents say they are taking the same number of business trips or more as they were five years ago.
• Their increased travel schedule is primarily the result of a new or FAC E-TO - FACE expanded role (77%), but nearly one in three (32%) say they BU S IN ESS “feel it’s more important than SHIP everWITH to hold face-to-face meetings.” IN PARTNER IS STIL L AM U ST
•Just one in 10 executives (13%) cut back on travel for budgetary reasons.
When to Meet in Person When to Meet Virtually
• Looking ahead five years, more than two-thirds (68%) predict the same frequency of business trips or more.
Surveyed executives reveal which business initiatives demand the personal touch and which can be done remotely
STATUS UPDATES
PROPOSAL/ PRESENTATION REVIEWS
PROBLEMSOLVING
RELATIONSHIPBUILDING
CLOSING DEALS
Face-to-Face Meeting
14%
38%
54%
50%
88%
In-Person Entertaining
4%
0%
1%
31%
3%
Web/Video Conference
25%
32%
13%
4%
0%
40%
23%
8%
4%
4%
Phone Call
16%
7%
24%
12%
4%
Tech-Enabled Meetings Are Prevalent
76% 91%
of respondents are more likely to tap into technology (such as Web conferencing) for business meetings than they were five years ago. have experienced challenges, such as: •D ifficulty reading clients’ body language and expressions with remote conferencing — the No. 1 problem (60%). This is the kind of critical issue with no easy tech-solve. • Technical glitches (encountered by 55% of respondents).
Planning Of those respondents with a company travel services department/provider, nearly all (90%) say they research their own travel options. Their reasons:
67%
say they can find better travel times and lodging options.
45% Meeting in Person Is Critical Digital communications are preferred when the stakes are small. But for businesscritical encounters, nothing matches the value of a face-to-face meeting:
81%
rate connecting in-person — either in-office or via entertaining — as the optimal way to build relationships.
54%
consider communicating face-to-face as the best way to solve a problem.
88%
say nothing else compares to sitting with clients face-to-face to lock in the deal.
want to leverage their personal rewards/loyalty programs.
37%
want to add vacation time to their trips.
Booking And even though their companies have a travel services department/provider, 61% book all or part of their itinerary themselves.
62%
want the ability to find options that work better.
51%
want to feel more in control of their travel itinerary.
CLOSING THE DEAL
FAC E-TO - FACE BU S IN ESS
IN PARTNER SHIP WITH
IS STIL L A M U ST
How Can Travel Service Providers Improve?
BUSINESS CLASS
FAC E-TO - FACE
Today’s business want to decide for BUtravelers S IN ESS
themselves when they travel and where they stay IN —PARTNER and SHIP WITH IS STIL L they want to accrue personal points for it all. A M U ST
But that’s just the top of their list. The 21st century road warrior also wants:
46% Better scheduling/ hotel options
38%
35%
32%
Mobile travel apps (for itinerary/ documents)
More effective tools for managing flight delays
Better off-hour access to travel services
31% Real-time travel updates
20% Appropriate travel warnings
16% Faster travel services response
Who Took the Survey? In October 2014, The Wall Street Journal fielded a survey to WSJ Opinion Leaders, an online insight community. Among those 609 surveyed: $346,551 is the average household income; 55 is the average age; 40% are C-level executives; 24% are top management (senior vice presidents, vice presidents, executive directors).
