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The Value of Industry Awards

posted on May 15th 2018 in Business & PR & Strategy with 0 Comments

As you focus on building your business’s online presence, managing social media is probably a top-of-the-list priority. But are you also spending enough time applying for industry awards? Awards are an extremely valuable part of your business’s online identity and can play a big role in helping your business build its media reach and customer base.

Here are four reasons why you should appreciate the value of industry awards:

  1. Awards improve your business’s recognition and credibility

For any business, a key challenge is figuring out how to stand out among your competitors. With industry awards, you can establish your business as a recognized and credible leader in your industry. Awards are a seal of credibility, where a third party recognizes your work.

Spotlighting your business’s work as industry-awarded not only differentiates you from the competition, but it also builds trust among your potential customer base. The more quality awards you have under your belt, the more likely media contacts and potential customers will regard you as a top-tier expert in your industry. Because your work has been evaluated and approved by a third-party, customers can have confidence that your business truly is esteemed and respected.

  1. Awards are cost-efficient

There are several strategies with which businesses help themselves get recognized in the media, but few are as cost-efficient as publication awards. Unlike paid advertising spots, which can cost your business thousands or tens of thousands of dollars, most awards only charge an entrance fee of a couple hundred dollars. And you can develop a clear budget for submitting awards that likely won’t go over, since the award entry fees tend to stay consistent from year-to-year; keeping track of awards to submit for throughout the year prevents surprise costs.

The fees are minimal and the rewards of plentiful. When you win an industry award, you’ll usually receive an award badge that you can display year-round on all of your marketing materials.

Award entries are also cost-efficient because you can do all the work in-house, which can then be leveraged for other marketing and social media activities later on. An award entry can be taken and used in e-newsletters, on your website, and as a case study on social media.

  1. Awards help increase sales

By boosting your business’s recognition and credibility, awards are also helping you increase your sales.

Before making a purchase, most consumers may spend some time comparison shopping. With award badges on your social media pages and website, your business will stand out among competitors as an expert and leader in your industry. Having a few industry awards can differentiate you from competition by strengthening your credibility as a business that provides quality installations, customer service, and etc. Leveraging these badges and the award material can help to convert prospective leads into loyal customers.

  1. Awards boost office morale

Awards can make a big impact on your brand’s image and help attract potential customers, but they can also make a big impact in-office, as well.

Working for a company that’s winning awards and is recognized as a leader in its industry can greatly boost morale around the office. Your employees will appreciate that their efforts are being acknowledged — and that awards are not just about executives — as there are many different kinds of awards that praise work for creativity, sales and marketing teams, customer service, and more.

How does all of this help your bottom line? Employees who feel appreciated at work are happier, and economists agree that happy workers are twelve percent more productive.

Now that you see how valuable industry awards are for your business, it’s time to start entering! AV Awards and Electronic House Awards are just a few of the awards coming up.

Secure your chances of winning by learning how to craft the perfect award submission with our PR + Social Media Master Class on Caster Academy.

Learn more with @CasterComm on Twitter.

 

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