Five Ways a Leadership Award Will Benefit Your Career
Winning an award at anything feels great, but the benefits for your business are many, varied and could last for years.
The feel-good factor
Boosting your reputation
Being nominated, shortlisted or even winning an award is a great way to secure a third-party endorsement of your business, even more so if you’re new on the scene. As soon as your business secures that first win, your marketing team can go to town starting every introduction with the phrase ‘award winning’. It’s an instant boost to your credibility. That will be the first thing potential customers will hear about you and it will put them in a positive frame of mind when they hear the rest of what you have to say. Even if you don’t win, being on the shortlist still represents a bit of free advertising. It’s telling the world that you are a serious contender in your industry. If the awards you’re entering have any kind of a profile, they’ll be featuring you on their website and in their marketing material. There will be descriptions of your company, images, videos and much more which will help introduce your business to a new audience. It’s important to capitalise on these marketing opportunities as much as possible. Update all materials and add in the awards logo onto your collateral. If you’re fortunate enough to win, this could be a golden PR opportunity.
Assessing your business
Motivation and recruitment
The bottom line
We’ve saved the best (and perhaps most obvious) benefit until last. The biggest reason why businesses are so keen to enter awards is to increase revenue. A study by the British Quality Foundation found that businesses of all sizes could expect to see a significant increase in revenue.
A large corporation could expect to see income rise by 48% and sales increase by 37%. The benefits are even more pronounced for smaller businesses. The report suggested they could see income grow by 63% and sales grow by 39%.
A word of caution
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