on 07-07-2016 10:34 AM
I saw an article from Business West about the impact winning Awards can have on your business. They highlighted these 5 benefits:
1. Free marketing
3. Increased credibility
4. Employee motivation
5. Attract talent
I've heard and seen winners and finalists of #VOOM using this success as a springboard for opportunities
- What Awards have you won?
- Have applications been lengthy/worth the effort?
- And what effect have they had on your business success/profile/opportunities?
on 09-07-2016 05:43 PM
I think it all depends on the business. We've won a number of awards from the likes of O2, Smarta and Theo Paphitis, and although it sounds nice to have won awards, we've seen no direct increase in sales as a result (it's sales that keeps us all going, right!). I think this is down to a few factors.
1) The people entering the awards and focussing on them were other small businesses (we tend to sell to bigger ones).
2) The businesses we sell to are not following these awards, and are more interested in the value we offer, than the awards we hold.
3) Most new customers look at our previous clients/case studies or samples to get an idea as to the level of quality.
4) Our customers don't actually understand the awards as everyone has awards these days.
Additionally in most instances for awards, the PR is localised.
We've seen better results from good PR stories, and adding value to peoples lives before they actually become our customers.
However, I think for service based businesses this may be a different game, as samples are not as practical for showing off your quality, andawards are.
I hope that's helpful for someone .
on 11-07-2016 10:48 AM
I think awards are an extremely useful platform for your business but you have to pick ones that your potential customers will see.
For example, a large local business awards spreads across all sectors and each award category is focused on a market sector. Awards like these tend to have a large PR influence and reach across many channels and therefor would hugely increase brand awareness for your company.
Hoever like anything you have to work it, shout about your successes and use the marketing packs the award organisors will more often than not hand to you on a plate. Get your story for winning/ being a finalist in an award in publications and really try to maximise the reach of your story.
Empine Print Management Ltd
on 11-07-2016 02:48 PM
I think awards are very important, but you need to get the right ones for you, and you need to be able to offset any outgoing against a potential reward.
I've put one of my products in for the Great Taste Awards 2016, which costs about £60 per product. I could only afford to do one this time around, but believe I have chosen the right one to go ahead with! If I'm successful (I find out at the beginning of August) then I get to add their well-known brand to my own, and that's fantastic.
As for other awards... Local businesses and the like.... Great for a little more local custom! I'd probably get people in the area coming to me rather than me having to chase, which is great. I'm less than a year with this as my full-time income, and any recognition is worth it at this early stage as it gives confidence in a largely untested brand.
on 12-07-2016 10:22 AM
@Pip Great Taste is a really good one to get because it's so recognisable, good luck!
I think you're both right, getting the right one and being savvy about how much expenditure you're going to have to make, whether it has a reasonable chance of return, is really important.
on 12-07-2016 12:27 PM
Our business was a runner-up in an Intuit Quickbooks competition a few years ago. It was the £1000 cash prize that was useful to us - especially as a fledgling company. It was certainly a morale boost too! However as it's a fairly niche business, the marketing effect was minimal.
Business awards aren't really a direct benefit to us. Whilst they're nice to have, and may have some kind of esoteric effect, it's not something you can count on. Awards from product reviews are where it's at for us.