Accolades from one’s peers can provide validation of a company’s strategy, help set standards for the industry at large, and, on occasion, even change the way people think.
One of the easiest and most inexpensive ways for you to stand out from your competitors is to win industry awards. They are a way to gain recognition for yourself, your business and your company website. Awards bring you prestige and more traffic, and they enhance your credibility as a business.
- To land new customers. Customers like to be associated with a winning company, and potential customers often make their purchasing decisions based on the decisions of other businesses like theirs. When prospective customers see that you’ve won an award, it can sway them to choose you over your competition because you’re seen as a stable and high-quality company.
- To retain existing employees. Winning awards can improve employee morale. When employees are proud of their company’s achievements, they have an excuse to tell prospects and customers why you won a particular award. If they’re selling your product, it makes their job easier because of the “stamp of approval” from an unbiased source.
- To attract new employees. Awards can actually help you attract the best new employees. People are drawn to award-winning businesses because they want to work for a winner. During a recession, potential employees are looking at awards and company rankings to determine who will prosper in the future.
- To be associated with the elite. When you win an award, you’re in league with some great companies and remarkable leaders. You can use this to your advantage when networking, because you have something in common with other companies you want to do business with.