Business Awards: Why Should I Enter?

Posted by Olin Ericksen on May 14, 2013

When asked why businesses should enter competitions, I often think of the signature beneath my own emails.

The “PR Small Agency of the Year” bestowed by PR Week on Mitchell in 2011 and the Holmes Report in 2012 measures a few characters long, but it speaks volumes. It’s an endorsement of the work we do in partnership with our clients.

Finish line.

For a business, winning an award can set you apart from the pack and result in a variety of dividends for years to come. Here are a few reasons you should consider entering a competition in 2013.

  • Attract new business: In business, you are always looking for a differentiator—something that sets your story apart. The same is true about why you should apply for awards. At a glance, an award can bring credibility and prestige. It tells existing and potential clients your business is special and one of the best at what it does.
  • Attract quality employees: An award can help attract quality applicants. As with clients and vendors, employees want to work with the best and be part of the best, a principle that Mitchell refers to as “Excellence Attracting Excellence.”
  • Boost internal morale: Awards not only boost external visibility; they can boost morale internally. They offer an opportunity for a great team-building experience; and if you win, that experience will often be that much sweeter.
  • Help networking: Win or lose, the competition process often places you in proximity with key movers and shakers in and around your industry. If you are a finalist, you may have the opportunity to meet people who are industry leaders. While preparing your entry, you may need to interact with existing clients or vendors as you seek recommendations and support materials connected to an exceptional project. Every encounter is an opportunity to connect.
  • Take stock of your work and update your portfolio: Remember, win or lose, there are real-time tangible benefits to the process. Often an awards competition forces you to analyze your successes and what worked well, as well as what could be improved. It can help you get better, which is a top goal for any business.

Have you found benefits beyond these from entering competitions? Let us know in the comments below, or tweet your responses using the hashtag #mcgblog.