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Face-to-face meetings deliver financial boosts to IT and telecoms

Skype and other video meetings are still nowhere as effective as face-to-face meetings, and it’s a good question if they ever will be. IT and telecom companies know this the best – they enjoy a £155,500 annual revenue boost from meeting prospects face-to-face, instead of over the internet.  

This is according to a new report recently released by the Centre for Economics and Business Research (Cebr (opens in new tab)), and the Premier Inn (opens in new tab)hotel chain.  The report, entitled Measuring Face Value, says that IT and telecoms companies see a 64 per cent return on investment, for every £1 spent on business travel. ‘Just by walking out of their front door’, the report says, and meeting new prospects in person, IT and telecoms can expect an increase in revenue by an average 41 per cent every year, or £63,100 per company per year. 

“We all know that when we are meeting virtually, whether on a video or phone call, not everyone is engaged 100 per cent of the time,” says Karen Plumb, Director of Business to Business at Premier Inn.  

“Welcoming millions of business guests each year, Premier Inn understands how valuable face-to-face interaction is for our customers. Guests stay with us when they’re travelling to all kinds of face-to-face business meetings – from site visits and conferences to new business pitches and brainstorms.” 

“These figures may encourage some businesses to reflect on their own balance of virtual and face-to-face interaction, and to consider how getting that balance just right can have a positive impact on their bottom line.” 

Image source: Shutterstock/Pressmaster

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.