A new report reveals business awards are 100% more likely to be won by companies who enter them than by those who don’t. This groundbreaking research also suggests that some businesses have yet to make that important connection. Said one leading builder after failing to win a prestigious housing award, “We were clearly miles better than the competition. The judges should have looked beyond the fact we didn’t get our act together and put in an entry.” But all joking aside, are business awards worth the effort?
Absolutely, they are! It sounds so obvious, but without doubt, one of the main benefits of putting your company forward for an award is winning it. The cachet that comes from being announced ‘best in breed’ can do wonders for your business, not least because it inspires confidence in your customers – both regular and new. It also adds enormous strength to your brand.
There are other potential benefits of winning an award. Not all of them are immediately obvious, but they are just as beneficial to your business. These include:
National recognition as one of Australia’s best businesses
Depending on the sponsor, there may be the chance for winners to share in cash grants or business services
Free advertising in the form of media exposure for your business and your people
Major networking and partnership opportunities with other related businesses
Opportunities to enter into mentoring programmes with larger entities in the same industry
Being acknowledged and sought out as an industry expert
Invitations to speak at industry forums or to comment on related issues
Utilising the strategies employed to win in other areas of your business; using insights gained to drive greater success and growth
Some awards even offer entrant incentives, such as a free business health checks, designed to recommend where a business could perform better and improve its outcomes.
And, of course, becoming a finalist or winning an award is great for new business. Karen Porter, CEO of Solace Creations and winner of the 2014 Telstra ACT Micro Business of the Year had this to say about her experience.
‘Directly after the awards, my enquiry rate went up 600% and I am now seen as the go-to person for double glazing in Canberra. The recognition we received through the awards has been mind-blowing and a good reason for any business to enter.’
What awards are you going to enter this year? What accolades does your business deserve to win?
For assistance with writing business award nominations, our experienced award writers can help. Contact Rosemary Gillespie at Proof Communications on 02 8036 5532 or 0411 123 216, or read more about how our team helps you with your award submissions.