Tech companies always tout the advantages of virtual meetings, but they rarely point to the disadvantages that could make it harder for businesses to retain current customers while attracting new buyers.
Virtual meetings obviously cost less money. A phone call hardly costs anything compared to a plane ticket. How much money you spend communicating with clients is only part of the equation, though. You also need to consider how much money you get back from them.
Face-to-Face Meetings Bring in More Money
Research shows that dollars spent on face-to-face meetings lead to larger revenues than dollars spent on virtual meetings. That means you lower your revenue stream when you slash your company’s travel budget. It’s tempting for any business to cut travel expenses, especially when a tech company introduces meeting platforms that cost so little that they are practically free.
Despite this temptation, companies need to look at the bigger picture. Do they want to save money now by putting future profits at risk? That’s a dangerous proposition in any competitive market.
Keeping Travel Expenses Affordable
Traveling to meet customers face-to-face can make your company more successful. That doesn’t mean you shouldn’t pay attention to how much money you spend on travel. For instance, being proactive by finding cheap flights and working remotely via a Lenovo tablet laptop is a great way to stay in touch with your office without compromising client service.
Look for ways to save money when you send a company representative to a conference or client meeting. In addition to booking cheaper flights, you can also bundle services such as hotel rooms, flights, and car rentals.
Lowering your travel expenses could keep partners and investors happy while you avoid the pitfalls of virtual meetings. It’s not just a matter of saving money in the short-term; it’s a matter of building a successful business by maintaining relationships with current customers while forging new relationships with prospective clients.