Why awards are good for business

PIER recently entered the 2022 Mornington Peninsula Shire Business Excellence Awards and were incredibly humbled to be named finalists in the creative industry category. We’ve been reflecting on why these kinds of acknowledgements are good for business, and the specific benefits of seeking awards.

Of course, there is a significant amount of work involved in an award submission. As anyone who has gone through the process will testify, it takes time, energy and a good dollop of realism to piece together your story authentically. But the perks are well-worth the hours spent and ponderous trip down memory lane.

Here are some of the major benefits of entering into business awards.

PIER-Marketing-Business-Awards-2022

Maintains focus on the bigger picture

It’s a pretty powerful feeling as a business to have a range of experts who you’ve never met assess your efforts — in this case on paper and in person — and congratulate you for doing a great job. It’s undoubtedly a boost of confidence personally and professionally, to know that you’re on the right track. It is also an opportunity to dig out that old business plan, reflect on what you have achieved and dedicate some time to reviewing your goals, strategy and action plan.


Increases credibility via third party endorsements

In true PR style, a recognised and valued third party endorsing your business is worth far more than you doing the same yourself. Being recognised by industry professionals adds weight to your claim of being good at what you do and builds trust as you metaphorically piggy back off the third party’s brand value. But you need to shout about it. Think: content marketing, social media shout outs, pitching your success to the local and / or industry press and displaying your award with pride in your office.


Opens up a new network and builds your profile

There’s no better way to quickly become part of a business community than to go through an awards process. The contacts we’ve made and relationships we’ve built have been incredibly valuable and allowed us to expand our thinking, receive feedback for improvement and generally feel the support. Like anything however, you get out of it what you put in. We suggest following up with the assessors, judges, fellow nominees or alumni, if given the opportunity. Catch up with them for a coffee and strengthen the relationship; there’s nothing like a fresh set of eyes on a business to get you thinking about the possibilities.


Supports growth via financial rewards

Some awards may come with added benefits of memberships, access to resources and training, or even funding. While this isn’t the most strategic way to raise capital, it’s certainly a nice bonus. Combine that with the time you have spent reflecting on your business strategy and clarifying your goals for the future, and suddenly you’re in a strong position to maximise your prize and elevate your business.


Builds confidence among your clients

In any business, existing client relationships are one of the most precious elements and should be nurtured. Awards help demonstrate the valued and respected position you hold within your industry, which strengthens the feeling among your clients that they are in safe hands and have made the right decision in enlisting your services. Entering awards alongside a client can also be a brilliant way to strengthen your relationship.


Celebrate your team

Teamwork makes the dream work. We couldn’t have achieved what we have over the years without our amazing team’s energy and ability to take ownership. Any public recognition strengthens a team’s morale, and this shines through in interactions with each other and with clients. High morale is also a fantastic attribute when attracting top quality employees.


We’re grateful for what the award submission process has afforded our team, and we encourage any business to find a relevant award, put pen to paper, apply and enjoy the journey. Reach out if we can support your submission in any way!