Amongst the most inexpensive and easiest ways to lead your competitors is by winning a prestigious industry awards. It's the best way to get acknowledgment for yourself, your company website and your business. Business awards always bring you more traffic and prestige as well as they improves your reliability as a business.
It may take a significant amount of time to apply for the business awards, although winning may result into quantifiable growth. Let's go through the key five reasons why should you add business awards to your marketing program:
Get New Customer
Customers always like to get associated with the winning company and prospective customers usually take their buying decisions according to other business' decisions. While the prospective clients see that you've got a corporate award, this can influence them to select you as you're rated as a high-quality and well-established company.
Help You Get the VC Funding
It's a very important part of any company's success because VCs as well as the banking communities always look at the business awards rankings and lists to get powerful contributors. The awards may help smaller businesses become money-making and get funding through the IPO.
Hold the Current Employee
Winning business awards can improve the employee's morale. While employees feel proud of the company's successes, they have a justification to tell customers or prospects why you have won any particular award. So, in case they're selling your products, it makes easier for them due to the "stamp approval" from the unbiased source.
Draw New Employee
Business awards can certainly help you in getting the best and new employees. Usually people get magnetized to the award-winning businesses as they desire to work for the winners. During the recession, prospective employees always look at the company rankings and awards to make sure who will grow in the near future.
Get Connected with the Bes
Whenever you win a business award, you're in alliance with some remarkable leaders and great companies. You can utilize it to your benefit while networking as you have some things common with the other companies that you desire to do dealing with.
Important Tips to Follow
Getting the right business awards to work for is very easy like doing some quick searches on the internet for terms like "MSME awards", "entrepreneur awards" and “business awards”. You can also utilize keywords particular for your industry.
As the applications can be slow in nature, it's very important to make sure that you're concentrating on the business awards which will develop your business. For using your time intelligently, follow these important tips:
Always Select Industry-Specific Award
While your business is targeting at a particular niche customers, you need to select the awards which will focus on your expertise. For instance, an estate owner needs to target the real estate awards.
Concentrate on Your Strong Point
To provide your business a superior chance to win, ensure that you only concentrate on the awards which associate with your strengths. For instance, if your business is doing great in the customer services or have a great website, follow awards which concentrate on those characteristics.
Focus on Your Region
Target the business awards which are particular for your region and it will mean extra for the local customers. You can research the business awards according to your city as well as state. For instance, if your business is located in a particular area, you may need to enter that area's quickest growing private companies in that area.
Learn from the Competitor
In case, your competitors are big enough, then it's very easy to do some quick search or visit the website to observe the business awards that they have won. It will provide you a good initial point for the corporate awards that you target, particularly if they've earned them consistently for a few years.
Keep People in Focus
Don't target business awards for your products or small business; then think about the staff members that you might nominate for the awards. For instance, the INDIA 5000 Business Awards are a great publicity opportunity for your staff and business. You might even want to nominate yourself for an award.
Important Thing to Consider
It's normal for the awards to concentrate on the products and companies launched in the particular time-frame, so make sure that your company fulfills all the requirements while applying.