As handing out awards within your organization, competing and winning third-party business trophies and awards as a team can have a wonderful effect on morale.
Here are five reasons competing for business award trophies can benefit your business:
1. Get Free Advertising & Promotion - The results of business award competitions are typically promoted online, in the mail, in the local newspaper, or by other advertising mediums. Winning a business trophy or plaque, or even being named as a finalist is an instant way to get free advertising for your business and brand.
Moreover, the advertising you’re getting is pretty powerful. As a finalist in an award competition, your business is being promoted because you have demonstrated that you and your team are among the best in your industry. New customers will see that you’re a leader for a given product or service. This type of advertising is not only free but powerful enough to call potential customers to action.
2. Generate Leads & Connections - Speaking of new customers and contacts, entering business award competitions is an excellent way to generate new leads and meet other industry leaders. Many of the award competitions have a ceremony or dinner to present the finalists with their business award trophies and celebrate their achievements.
During the award ceremonies, you and your employees have the chance to network with potential customers, business leaders, and experts in your industry. The contacts you make at these events could become clients someday, helpful mentors, or priceless business friends that generate new referral business for you.
3. Receive a Lasting Third-Party Endorsement - Winning business plaques, trophies and awards is also a great way to boost your credibility in the eyes of potential customers. In many ways, an award from a reputable organization is like a third-party endorsement of your products and services. This could be the credibility boost you need to gain new customers and differentiate yourself from the competition.
4. Attract High-Quality Talent - If you’re looking to fill positions in your business with high-quality candidates, winning business awards and trophies can tell potential employees that your organization would be a great place for them to grow in their career. The prestige of your business will attract ambitious, talented individuals who can help your business continue succeed.
5. Boost Employee Morale - Winning business award trophies is a proud moment for you and your employees. It validates all the blood, sweat and tears you’ve shed together to help your business succeed. Getting all dressed up and going out to celebrate your achievements is an excellent way to reignite your team’s passion for the business and promote continued teamwork and success in the future.