|The rewards of awards|
So, if you are still on the fence about entering your company for an industry award, here is a list of five benefits that just might change your mind:
1. Publicity, brand awareness and increased visibility for your company
Local newspapers are always keen on following the success stories of employers based in the area. So even just by being shortlisted for an award you will attract some degree of attention. You might even get half a page in the Tinyville Advertiser about your accomplishments and the award submission.
If things go according to plan and you go on to win the award, your company will definitely benefit from media attention: from local newspapers and TV channels to trade press, they will all be keen to celebrate your newfound success. This will allow you to make your voice heard and position the company as an acknowledged leader in the award’s subject.
2. Win new business
Participating in, and even winning, an industry award will put your organisation in the spotlight and increase the chances of being seen by potential customers. With the reputation of an award winning business, going to sales meetings will seem a lot less daunting.
Apart from increasing your chances of winning new customers, having the award logo on your marketing literature or your website might just sway the undecided into making an enquiry or buying from you.
3. Help retain current customers and reinforce brand loyalty
It’s a truism that it’s ten times more costly to win a new client than retain one you already have. If this is the case, then winning an award could convince your customer to give you the piece of repeat business that you’ve been looking for.
If you are selling a product, receiving an award for it reinforces the quality argument. This will make clients come back and buy more and even promote the product themselves.
4. Increase staff performance and motivation
Studies led by psychologist Frederic Herzberg suggest that employees are motivated by much more than financial gain. A good working environment and pride in working for a well known organisation are both strong motivational factors that directly affect performance and staff retention.
Being an award winning company will increase your employer brand which, in turn, will help attract quality professionals. Applying for Best 100 Companies to Work For or any other similar award is quite straightforward and winning will convey the right message to potential staff.
5. Awards drive improvement
Winning is a wonderful feeling and displaying a shiny trophy in your company’s lounge, for all to see has its undisputed benefits. But what if you have not been so lucky on this occasion? There are still lessons to be learned from this.
To begin with, while putting together the application you will not only be able to spot the areas that your organisation needs to improve in, but also the strong points you have not thought of before. This information could help you improve your business model and find ways of developing the processes within the company.
It is also important to mention that, for most awards, judges will provide constructive feedback on why you were not the best in your category. Take advantage of this and ask questions – you will benefit from free advice given by industry experts. And who knows, maybe next year it will be you on the podium, trying to come up with an Oscar-worthy acceptance speech!
If this blog post has given you some ideas about awards you would like your company to win, but just don’t know where to start, give Oana, our awards entry expert a call on 01785 225416 or e-mail firstname.lastname@example.org.
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