The ROI of Industry Awards
When resources are stretched thin, you might think, “Why should I take precious time away from my business to fill out a nomination form?”
The answer is simple - winning industry awards are good for business. In fact, it is one of the highest ROI marketing strategies a business can utilize. And since entering the Kaiser Permanente Business Excellence Awards is still FREE (unlike most) – it ONLY has upside.
Still not convinced? Here’s four more reasons you should nominate your business today.
Awards improve your business’s recognition and credibility
For any business, a key challenge is standing out among your competitors. With industry awards, you can establish your business as a recognized leader. Awards are a seal of credibility, where a third party recognizes your work.
The more quality awards you have under your belt, the more likely potential customers will regard you as a top-tier expert in your area of expertise. This effect is multiplied when that award is being judged and awarded by a trusted source like the Summit Chamber of Commerce.
Awards are cost-efficient
While there are other strategies businesses to receive recognition in the media, few are as cost-efficient as awards. Unlike paid advertising, which can cost your business thousands or tens of thousands of dollars, the Kaiser Permanente Business Excellence Awards are FREE. When you win a BEA award, you will receive an award badge that you can display year-round on all your marketing materials.
Awards help increase sales
By boosting your business’s recognition and credibility, awards increase sales.
Before making a purchase, most consumers spend time comparison shopping. With a BEA award badge on your social media pages and website, your business will stand out among competitors as an expert and leader in your industry. Leveraging these badges can help to convert prospective leads into loyal customers.
Awards boost office morale
Awards can make a big impact on your brand’s image and help attract potential customers, but they can also make a big impact in-office, as well.
Working for a company that’s winning awards and is recognized as a leader in its industry can greatly boost morale around the office. How does this help your bottom line? Employees who feel appreciated at work are happier, and economists agree that happy workers are twelve percent more productive.
Nominations are closed for this year. Stay tuned - finalists will be revealed in a few weeks!