Corporate awards are an excellent way to celebrate business achievement as women entrepreneurs learned at a recent awards show. “The Stevie Awards are an opportunity to shine a spotlight on the extraordinary women who are re-inventing American business, ”said Michael Gallagher, president and founder of The Stevie Awards. Many winners and finalists will also discover the bottomline benefits and power of corporate awards.
An overlooked tool in your marketing toolbox is corporate awards or business awards marketing. Marketing consists of many techniques and channels from advertising and direct response to radio and trade shows. Take your small business to new levels by entering corporate awards.
Entering Corporate Awards
Corporate awards are operated by various profit and non-profit organizations to honor and recognize small businesses. At all levels, business has the opportunity to compete for corporate awards.
Entering an award program usually will require a brief essay and description of your business. Some contests will require financials. The cost of admission can be free or require a nominal charge.
...But I'll Never Win
Entering corporate awards and contests as a marketing strategy is an untapped area by small business. With limited entries, your odds of winning improve. Even if you don't win, a title nomination can bring many rewards.
Stoner, Inc. of Lancaster, PA, is a specialty lubricant manufacturer who applied for the prestigious Malcom Baldridge National Quality Award. In 2003, Stoner was the smallest company to win the award.
Benefits of Adding Corporate Awards to Your Marketing
- Become a Media Favorite: Magazines and publishers all rely on experts for insightful information and commentary. Winning an award can add more value to connecting with the press.
- Boost Sales: Selling your products and services in today's competitive marketplace is tough. A business award win or nomination can act as a 3rd party endorsement. The added credibility can be used as a sales closer. A study of over 600 corporate award winners revealed winners had 37% more sales growth than non-winners.
- More PR Exposure: All companies can use extra PR. awards are celebrations of achievement and hard work, a great story opportunity for the press to highlight small business.
- Attract Talent: Savvy employees want to work for the best companies. Corporate awards validate your hiring stature among new recruits.
"Getting in front of the judges in some competitions may be worthwhile whether or not a company wins. I know of companies that enter competitions, especially those sponsored by publications and trade shows, just so judges, often journalists, become aware of them. Winning is a bonus," states Lynn S. Marcus, owner of the awards and recognition consulting company, Marcus + Company.