Face-to-face meetings can improve business results by more than 30%.
In an increasingly digital business landscape, the value of face-to-face meetings remains undeniable. A new study from Accor indicates that professionals across all industries believe their ability to generate revenue could increase by 36% if all important meetings were held in person.
The study, in which 9,000 professionals from around the world participated, a surprising 85%of respondents expect that prioritizing in-person meetings will significantly increase their revenue, with an expected average increase of 36% over the next year.
These statistics highlight the tangible business benefits of face-to-face meetings, suggesting that companies looking to improve their business results may want to rethink their approach to customer interactions.
Despite the fact that in-person meetings are an investment, 35% of professionals worldwide agree that meeting in person is worth both time and cost.
The study shows compelling data in favor of in-person business: 92% of professionals agree that it is important with external customers —67% say it is very important— and 85% of workers agree that face-to-face interaction is important with internal colleagues.
In fact, respondents believe that one in-person meeting has the same impact as three virtual meetings, a clear indication that face-to-face communication fosters deeper connections and better business results.
About 41% agree that face-to-face interactions are more effective for business, especially when it comes to sales, closing deals and overall business success. Nearly 40% stress the importance of in-person meetings to their work, and 38% say the investment in time and cost is worth it.
Also, 37% believe that in-person meetings are key to fostering company culture, while 35% say attendees are more engaged during these interactions. However, 33% acknowledge that virtual meetings make it difficult to build personal relationships, underscoring the value of physical presence in the professional world.
BUSINESS TRAVEL
The primary driver for business travel is commercial: 34% of professionals surveyed globally say closing a deal is their primary reason for travel, followed closely by client (31%) and contract negotiations (30%). Events and trade shows remain a key priority, with 30% of professionals saying it is a top reason to travel for business. Building and designing business strategy remains vital, the 5th most important reason to travel for business, a priority for 20% of professionals.
68% of respondents favor making presentations to clients in person, compared to 17% who prefer virtual formats. The site inspections show an even greater preference for in-person participation, with 77% choosing this method versus 11% opting for virtual alternatives.
For high stakes moments, such as closing a deal (74%) and contract negotiations (70%), there is also a clear preference for in-person meetings, highlighting the importance of direct human interaction in building trust and closing deals.
HÍbrid
Looking ahead, the research suggests that hÍbrid business models, which combine digital and in-person meetings, are now the norm. As long as companies continue to rely on digital solutions, the human touch that face-to-face meetings bring will remain an irreplaceable aspect of closing deals and fostering strong business relationships. While digital tools offer comfort and connectivity global, they cannot fully replicate the effectiveness of face-to-face interactions.