Industry Awards and Why Your Business Should Want to Win

Winning a business award is great exposure, but have you ever wondered what the direct benefits are to your business?
Do awards really offer value to a company’s bottom line?

According to a research study by the University of Western Ontario and Georgia Institute of Technology, it was revealed that more than 600 quality corporate award winners had 37 percent more sales growth and 44 percent higher stock price return than their peers. Further reinforcing this link between awards, success and reputation, 76% of clients agreed with the statement “Awards are important for generating business or improving the value of a brand”.

Those stats alone are enough to prove that awards are a worthwhile investment. But, it doesn’t stop there as awards can build;

•CREDIBILITY – Winning a business award provides a credible third party endorsement for your company. Depending upon how prestigious the award is, it could give your business a much revered consumer stamp of approval. Customers and partners will feel more secure about their business relationship with your company when viewed to be trustworthy and credible.

•DIFFERENTIATION – As each company strives to stand out in an increasingly difficult and changing market, awards set a company apart from competitors and differentiates the quality of its achievements from others.

•VISIBILITY – Awards can make you and your solutions more visible. They can attract new customers, investors and authors by giving an organisation an edge over its competitors.

•VALIDATE – Awards speak volumes and provide third party endorsement of your brands achievements. Being nominated or even shortlisted can give you an edge, often placing you at the forefront of your genre and industry.

•TESTIMONIAL- Being shortlisted or winning an award serves as testament to a company’s work ethic, dedication and unique specialty. An award attracts readers and authors who are more likely to consider a brand over another if it is now associated with an industry award of note.

PINK TIGER MEDIA proud winners of THE GOLDEN GLOBE TIGERS 2019 – Award for Excellence & Leadership in Branding and Marketing.

Get in touch Get In touch with our dedicated team of public relations professionals to learn more about how Pink Tiger Media can support your brand and gain due recognition through industry awards.

References

ripleypr.com
business.com
b2bmarketing.net
mindtools.com

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