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Five reasons to enter your business into awards

27th November 2023

Originally posted to www.carnisght.com

You win some you lose some, but either way, there’s a lot to be said for entering awards beyond the obvious benefit of winning. From networking to the credibility that still comes with being shortlisted even if you don’t take home the top spot, awards can be a great way to scope out like-minded businesses and perhaps even potential clients. They’re also a testament to what you’ve achieved and can provide well-earned recognition and morale boosts for your team because you still made it this far.

Sometimes the competition is stiff! Yes, winning will always be the most coveted benefit but even when you don’t win, there’s still value to be taken and joy to be had. Building on that, award-winning small businesses are also reported to see a 63% increase in income and a 39% growth in sales. So let’s unpack this a little more – here are five reasons you should enter awards (other than to win).

1. Networking

Awards and the events that are often associated with them allow you to make the most of another networking opportunity. Attending ceremonies, industry events, and gatherings related to the awards can allow you to connect with a wide variety of other businesses, potential clients, and industry leaders whom you can form relationships with.

Reconnecting with old faces or getting to know new ones is always a benefit in some capacity, especially when they are considered worthy of being shortlisted.

2. Get to know your offering

The process of preparing award submissions can also be valuable because it often requires a deep dive into your business strategies, achievements, and future goals. Entering awards also often involves a thorough examination of your business operations, strategies, and achievements. This self-assessment can help identify areas for celebration or improvement and set benchmarks for future success.

Applying this critical lens inward, answering prompts, and having to articulate things about your business that you may not normally have the time to prioritise doing can be a very insightful and reflective practice. It can also just be a useful document to have on hand for the future to refer back to, and can help your team gain clarity too.

3. Award-worthy reputation – credibility still comes with being shortlisted

Being shortlisted or nominated still sets your business apart from competitors. Being recognised for excellence in a particular area can be a key differentiator in a crowded market, helping you stand out to potential customers, partners, and investors. It can also have a positive impact on the recruitment side of things, as the positive association and attestation of excellence can attract talent.

There’s also the benefit of building trust and loyalty within your client or customer base. The credibility that comes with being shortlisted shows that your product or service is of value according to external and impartial judgment.

Even without winning, being a finalist can build trust because it demonstrates that you meet, and more so exceed, industry standards to the point where you stand out and are worthy of being shortlisted.

4. Internal recognition and morale boost

The recognition associated with awards can boost employee morale and motivation. It’s a tangible acknowledgement of their hard work and achievements, fostering a positive work environment and culture of value recognition. It’s also just nice to get dressed up and enjoy a night out together as a team, celebrating your efforts and achievements and building up team collaboration.

5. Scoping out the competition

As well as these internal benefits, awards also give you a good chance to survey the lay of the competitive landscape from an external perspective. It may help identify which of your peers and competitors or product/service offerings are catching attention.

A worthwhile endeavour

So whether you win or not, it’s fair to say that attending awards is still time well spent as a team, and as a business getting your name, face, and credibility out there amongst like-minded company. The process can provide great insight and incentivise you to prioritise putting time into reflecting on your business. If you’re interested in the topic of awards and entries, we’ve got some more posts that dive deeper into the actual process of preparing an entry. You can also get in contact if you have any questions, as we have experience entering awards for a variety of clients and industries.

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About Carnsight Communications

At Carnsight Communications we create strategies and campaigns to showcase our clients’ brilliant work through PR, content and social media. We help them get noticed by the right audience, at the right time. We specialise in creative agency PR.

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