Business Awards – Vanity or Sanity?

With the variety of awards out in the market today, deciding which ones to enter could be
challenging! Could it be more of a hassle than a potential business gain? Here are five reasons why nominating for the much anticipated annual SME & Entrepreneurship Business Awards (SEBA) will benefit your business.

1. Improve Employee Motivation

Awards are a fantastic way to recognize the hard work and achievements of your employees. It
provides a way to focus on the success of the company and a feel-good factor coupled with a sense of pride. Besides celebrating the victory of winning the awards, employees can also be treated to a glitzy awards dinner which can yield networking opportunities.

2. An opportunity to attract new business

We’ll let that quote speak for itself. A prestigious business award win can not only help give your
business that seal of quality but also act as a good third-party endorsement for your brand. It also gives a stamp of authority and credibility within your industry peers and makes for a great talent enticement. Pitch yourself as the best and attract only the best talents to push your business forward.

3. Free marketing

Improve your brand awareness and promote your business to new and potential customers by
maximizing a business award win. Include the prestigious award logo as part of all your marketing collateral and celebrate employee’s hard work and success by identifying PR opportunities. It’s fantastic to be recognized so it’s important to make sure that people know what your business has achieved. Winning a business award can also open doors to getting contracts, finding new supply channels and breaking into new markets.

4. Networking and reputation reinforcement

For SME’s, awards are undoubtedly the best way to not only showcase the caliber of the work that is being done but to also rub shoulders with the very best of the business community. Being shortlisted(or winning) will improve client retention, and assuredly send your clients home chatting to their friends about how great you are. And, as we all know, word of mouth and personal recommendation is still the most influential factor in the business world today.

5. Benchmark against your peers

Prestigious business awards are the perfect platform to come out of your corporate shell, show off that perfectly executed marketing campaign or business strategy and set yourself high among industry peers. The process of applying for the award itself could help you think about ways you could be doing things better and with that, be able to identify areas for improvement within your business. A winning application would force you and your team to think of ways to stand out from the competition whether it’s through innovation, diversity, growth or even people development. More often than not, that benefit to your business itself would outweigh the award prize itself.

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