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Why should you apply for an award?

Thought Leader

Why should you apply for an award?

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Liam wrote this really cool and informative article about Awards. I hope you guys like it!

My subject is awards; they don’t just look shiny and new on your mantelpiece but they also act as a stamp of approval, drastically improving your brand appeal.

The Basics
How to find the right award – This handy site is useful to find the perfect award http://www.awardlist.co.uk/business_awards_list/ . Most awards are part of a company’s CSR (Corporate Social Responsibility), for example, Virgin and Amazon offer numerous awards ranging from ‘best startup’ to ‘contributor to the community of the year’ awards. You also have government awards aimed at encouraging ‘social’ work and start up’s’, an example of this is the Social Enterprise award (www.socialenterprise.org.uk/about/social-enterprise-awards), the accolade recognises organisations for their business excellence and contribution to society, making it a must apply award for charity and social enterprise based companies.

The Application 

Awards sadly don’t just require your name, email, profits and business name, they also need at least 1,000 words worth of content in which you have to explain why your company not only deserves the award, but what makes it unique, sustainable and financially responsible. The best way to plan for such a deluge of content is to break down the questions given, for example the ‘Startup Awards’ asks: How your business makes money, what is unique about your business, evidence of your success and a demonstration of sustainability. Making a mind map for each topic allows you to freely think of ways that your company exhibits these traits; in doing this you can begin to prioritise the best ways in which your organisation displays these qualities. The standard text you create can be remolded and used for numerous awards saving you ample amounts of time to carry on succeeding in business!


Amount of awards applications – In short, however many you can. Awards can never harm your business they can only bring good press and new clients; the more awards you apply for, the greater the chance of your success.

What Your Company Gains.

As mentioned before awards act as a stamp of approval for your company, product or service; to elaborate further, a customer’s brand awareness is not only based on personal choices such as traditions, favourite colours etc, a buyer’s brand choice is primarily attributed to their reactions to guidance through the use adverts. The ‘Product of the Year awards’ recently published a statistic claiming that customers are 86% more likely to buy a product after it had received their award; this effect also applies to businesses, the same customer need for approval is present whether they are buying soap or acquiring the services of an electrician.

Sending out a press release announcing your success at the awards is also integral to your organisation, the term ‘award winning’ looks great on your social media, website and even your product but what looks even better is your company name as a headline in a local/national newspaper for thousands of potential clients to see. The press release can be similar to your 1000 word application, stating your award, why you earned it and your next step as a business; attracting not only clients but business partners and sponsors.

Another benefit of being perceived as the market leader is the attraction from not only customers but potential staff, you will find your inbox full of applicants for your new job. Everyone wants to work for winners. The abundance of new applicants comes with both positives and negatives, the negative being that you have to wade through numerous applicants who are unworthy of the position, however the overwhelming positive is that you have a larger pool of over qualified applicants all seeking to work for the market leader meaning there is a smaller chance of hiring an unsuitable employee.

Awards are an unmissable opportunity for your business whether you are a start up or a well established business.

 

Rafael is the founder of mi-HUB, a coworking space in East London. The diverse community of mi-HUB makes it a super cool and special place with entrepreneurs from over 22 countries. Virgin Pioneers can try mi-HUB for a week free of charge and have 20% off the first 2 months. 

 

Comments
Inventor

Fantastic, I have recently had to learn how to celebrate myself and with this new found mindset, will certainly be applying for awards. 

Great post and links, thank you.