The value of face-to-face meetings has been a key focus of Accor's recent report, which outlined a path to higher revenues for operators.
In an increasingly digital business landscape, the value of face-to-face meetings remains undeniable. New research from Accor, a global leader in hospitality, indicates that professionals globally across industries believe their ability to generate revenue could increase by 36 percent if all important meetings were conducted in person.
The study underscores a key takeaway: while digital tools like video and phone conferencing are useful, the human connection fostered by in-person interactions is perceived as significantly more effective in driving business success and performance.
The Accor study, which gathered insights from 9,000 professionals around the world, indicates a strong belief among professionals in the power of face-to-face meetings to drive revenue growth. A striking 85 percent of respondents expect that prioritising in-person meetings would significantly boost their revenue, with an average projected increase of 36 percent over the next year. This statistic highlights the tangible business benefits of face-to-face meetings, suggesting that companies looking to enhance their commercial performance might want to rethink their approach to client interactions.
“Business professionals expect to close 37 percent more deals if they were able to conduct all their important meetings face-to-face,” shared one respondent.
This sentiment is shared by a majority of the professionals surveyed, with 81 percent indicating they believe they would achieve better business outcomes if they could prioritise in-person meetings.
Understanding in-person meetings are an investment, 35 percent of professionals globally agreed meeting in person is worth the investment in both time and costs. The study shows compelling data in favour of in-person business, with 92 percent of professionals agreeing it’s important with external clients – 67 percent stating it’s very important - and 85 percent of workers agreeing in-person interaction is important with internal colleagues.
The data highlights a strong preference for in-person meetings across various business functions, with many professionals believing they offer greater impact and value than virtual alternatives. 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 more successful business outcomes.
Around 41 percent agree that face-to-face interactions are more effective for business, particularly when it comes to sales, closing deals, and overall business success. Nearly 40 percent emphasise the importance of in-person meetings for their work, with 38 percent noting that the investment in time and costs is worthwhile. Furthermore, 37 percent believe in-person meetings are key to fostering company culture, while 35 percent report higher attendee engagement during these interactions. However, 33 percent acknowledge that virtual meetings make it more difficult to build personal relationships, underscoring the value of physical presence in the professional world.
The primary driver of business travel is commercial, with 34 percent of professionals polled globally stating that closing a deal is their main reason to travel, closely followed by client (31 percent) and contract negotiations (30 percent). Events and trade shows remains a key priority with 30 percent of professionals saying it’s a primary reason to travel for business. Building and designing business strategy remains vital, the fifth most significant reason to travel for business, a priority for 20 percent of professionals.
Global professionals overwhelmingly prefer in-person interactions for key business activities, underscoring the continued value of engagement in critical situations. A significant 68 percent favour conducting client presentations in person, compared to just 17 percent who prefer virtual formats. Site inspections show an even stronger preference for in-person involvement, with 77 percent choosing this method over the 11 percent opting for virtual alternatives. High-stakes business moments, such as closing a deal (74 percent) and contract negotiations (70 percent), also see a clear preference for in-person meetings, highlighting the importance of direct human interaction in building trust and finalising agreements. These findings emphasise that, despite the rise of virtual alternatives, professionals still recognise the unique benefits of in-person meetings in fostering strong business relationships and commercial value.
More news here.
