Every year, thousands of businesses across the UK enter industry awards, regional awards and sector-specific programmes. For many businesses, the process can take time, so it’s understandable to wonder whether it’s really worth the effort.
For those that make the shortlist, and particularly those that go on to win, the benefits can be much bigger than simply having a trophy to put on the shelf. Winning an award can change how a business is viewed by customers, potential clients and even its own employees.
Here’s a closer look at why entering, and hopefully winning, a business award can be a worthwhile move for your company.
Instant Credibility and Trust
Trust can take years to build, and it can be lost very quickly. Being recognised by a respected awards programme gives customers, suppliers and potential partners another reason to trust your business. It shows that your achievements have been looked at by independent judges and recognised on their own merits.
When a potential client is choosing between two similar businesses, an award win could help you stand out. Having an award badge on your website or being able to mention the win in your marketing shows that people outside your business have recognised the work you do.
That kind of independent recognition can be much more powerful than simply telling people that you’re good at what you do.
Increased Visibility and Free PR
Awards can also create valuable publicity for your business. Shortlisted and winning companies are often featured in press releases, event coverage, social media posts and, in some cases, regional or trade press.
For a relatively small investment compared with a traditional PR campaign, an award can help introduce your business to new audiences, journalists and potential customers.
And the publicity doesn’t have to stop once the ceremony is over. You can continue to make use of your win by adding the award to your website, including it in your email signature, sharing it on social media and using it in future marketing campaigns.
A Genuine Boost to Staff Morale
It’s easy to think about awards purely in terms of customers and publicity, but there can be a real benefit for your team too.
Winning an award recognises the hard work that goes on across the business. It gives employees something to be proud of and shows that their efforts are making a difference.
It can also help with recruitment and retention. People looking for a new job often take the time to research a company before deciding whether to apply or accept an offer. Being able to point to recent awards and recognition can help show that your business is successful, ambitious and a good place to work.
A Competitive Edge in a Crowded Market
Most businesses have plenty of competition. Whether you work in professional services, manufacturing, farming, retail or finance, your potential customers are likely to be considering several companies before making a decision.
An award gives you another way to stand out. It’s one thing to say that your business is the best in your area. It’s another to be able to say that an independent panel of judges recognised you as the best.
That distinction can make a real difference when a potential customer is deciding who to work with.
New Networking and Partnership Opportunities
Awards events bring together a wide range of people from the business community, including business owners, senior decision-makers, investors and industry professionals.
Simply attending can open the door to new conversations, while being shortlisted or winning can give people an even stronger reason to come and speak to you.
Some of the most valuable connections made at awards events can continue long after the evening itself. New partnerships, referrals and even new clients can all start with a conversation over dinner or a drink.
It’s networking, but with a much more natural starting point.
Stronger Marketing Material, Long After the Ceremony
An award win gives your marketing and sales teams something tangible to talk about. Award logos and citations can be added to your website, proposals, tender documents, email signatures and pitch decks.
For businesses that regularly compete for contracts or tenders, having an independently judged award behind you can add weight to your proposals and help demonstrate the quality of your work.
There are plenty of content opportunities too. You can share photos from the ceremony, thank your clients and employees, talk about what the award means to the business and share the story behind the win.
It’s useful content that can keep your business visible without having to start an entirely new marketing campaign.
Motivation to Reflect and Improve
The awards process itself can be useful, even if you don’t end up winning.
Putting together an entry means taking a step back and looking at what your business has achieved. You need to explain your successes, demonstrate the results you’ve delivered and think about what makes your company different.
That process can highlight strengths you may not have previously talked about enough. It can also help you sharpen the way you talk about your business in other areas of your marketing.
If judges provide feedback, this can be useful too. It gives you an outside perspective on your business and may highlight areas where there’s still room to improve.
Making the Most of an Award
Winning an award is only the beginning. The businesses that get the most from their success are usually the ones that make a point of talking about it.
Update your website and email signatures, make sure your sales team knows how to reference the award, share the news with local and trade press, and celebrate the achievement with your employees and clients.
There’s little value in winning an award if nobody knows about it.
At Iconic Live, we run a wide range of regional and sector-specific award programmes designed to recognise genuine achievement across industries, including dealmaking, farming and many more.
If you’re considering whether to put your business forward for an award, it’s worth looking beyond the trophy itself. The credibility, publicity, team recognition, networking opportunities and marketing benefits can make entering well worth the effort.