Award Entries: Good for Business?

Tired of hearing the same old spiel about how to get that ‘competitive edge’ over your competition?

‍The irony is companies worth their salt in good marketing are still lapping up the false pretence that within a highly competitive industry, whether you’re B2B or B2C, the most important aspect of your process is the framework of your targeted marketing campaign.

You can have all the market research, competitor analysis, objectives, financial goals, audience, value propositions, channel strategy, execution and measurements, but who’s to say your competitors aren’t doing the same thing?

Sooo… besides the standard objectives of your marketing goals, how can you significantly distance yourself from the competition? It’s simple, you certainly don’t join them, you beat them.

We find ourselves constantly testing and tweaking bits here and there to increase awareness, boost our brands profile, retain customers, and build employee morale.

Entering for an award contains many benefits. It’s a great opportunity to quantify and assess the recent successes of the business and creates a direct route to collecting all your respective assets in a systematic way – ready to be marketed accordingly. This blog will highlight 4 key reasons why you should make award entries a key objective in your marketing strategy.

1. PR and Networking

Winning an award blows your competition out the water! Well… sort of. You probably won’t put them out of business, but you would have certainly built up your reputation above theirs in the category you’ve won in; especially if you’re a B2B. Winning an award in a room full of your respective or potential clients will certainly aid in client retention and acquisition. In addition, the networking opportunities provide you with a long-awaited opportunity to speak to CEO’s and decision-makers face-to-face without the hassle of the dreaded gatekeepers – this is also a great reason just to attend an awards event as a spectator or guest.

2. Making Financial Sense

It’s no secret that success at an awards can deliver tangible & measurable commercial benefit. This can “enable price and market share increases, as well as the perceived value in your marketplace of the product or service that you deliver also increasing.” A buyer of your product or service at the consideration stage of their customer journey will base their decision not only on quality and process, but on the re-assurance of your reputability – having an award on what they are purchasing is marketing gold dust.

3. Enhancing Team Morale

Winning an award is not only beneficial to your staff in the way all their hard work has manifested itself into success, but for future talent too! Winning an award in a room full of your peers and competition will certainly put you in good stead cometh the time you’re hiring from within the industry. Not to mention it’s a fab evening out with the team; socialising, bonding, and sharing a sense of pride if you win. Winning as a team has great internal benefits too, instilling a winning mentality within the business, your staff will support and push each other in motivational ways; leading by example for future employees too.

4. Boosting Credibility

A win or simply being shortlisted, has immense sway in not just growing your awareness, but enhancing your credibility for your service and or products for all the right reasons! A wholesome sense of validation in the form of a ‘badge of approval’ bolstered by the evidence commended by professional judges; proof that what you’re doing not only works but works well. You’re seen in the light as ‘pioneering thought leaders’ and ‘components of progression,’ a trusted solutions provider recognised at the highest level of your industry. Your brand becoming a shining beacon of confidence to your existing and potential clients, setting a new benchmark for business development and progression.

‍We could spend all day highlighting the endless benefits of being a finalist for an Award… but one thing is clear and should be front of mind when entering for an award, and that’s the competitive advantage you can leverage. The value in awards supersede boring and repetitive marketing assets, ultimately reinforcing your client’s decision to work with you.