Four Ways In Which Business Awards Can Help Grow Your Company
- Jun 19, 2024
- 3 min read
Anna Stella is a two-time national award-winning marketing expert, academic researcher, and CEO of the global marketing outsourcing agency BBSA. Anna has 20+ years of experience within the B2B, B2C, and non-profit industries. Clients include Volkswagen AG, the Government, the European Union, RICS, and Rational AG, just to name a few.
Small businesses often operate with limited time and resources. New entrepreneurs, in particular, face daily challenges when starting out. The key question becomes, how can these emerging companies make the most of their limited resources?
Beyond a solid client base, what often distinguishes successful small businesses from their less successful counterparts is reputation, client trust, and brand awareness. Due to the high cost of acquiring new customers through advertising and other promotional activities, many entrepreneurs focus on generating buzz through social media and organic press coverage. Despite these efforts, most businesses overlook a crucial strategy that can significantly enhance their visibility and credibility with a modest amount of effort: winning business awards.
4 reasons why business awards are invaluable
1. Cost efficiency business
awards offer a cost-effective option for small businesses, with entry fees typically ranging from $150 to $600. Compared to expensive PR agency fees or advertising campaigns, awards can help emerging businesses build brand recognition on a reasonable budget.
2. Aesthetic appeal award
trophies make great decorations. The beautifully designed statuettes, along with the winning logos, can be prominently displayed in the company’s lobby, the founder’s office, and on printed sales materials, enhancing the company's professional image.
3. Boosting credibility
Business awards can significantly enhance a company's external credibility. Winning awards makes companies more attractive to prospective investors, customers, and employees, often proving more effective than traditional advertisements.
4. Do-it-yourself
Preparing entries for business awards can be done in-house, requiring written submissions that the entrepreneur or a team member can manage with minimal practice. This saves on the costly fees associated with hiring a PR firm.
Many small companies and startups mistakenly believe that business awards are out of their reach, thinking they cannot compete with Fortune 500 companies or well-financed businesses. This is not always the case.
Numerous business award programs have seen less established, emerging companies outshine their more well-funded competitors. Small businesses often win because of their innovative approaches and effective resource allocation, which can surpass the performance of larger companies that may misallocate resources. Small companies should not hesitate to apply for awards out of fear of not winning.
Award programs, such as the Best of America Small Business Awards by BASA Awards®, offer various categories where companies compete with others of similar size, maturity, and revenue levels. These awards are global, covering regions including the USA, Canada, Australia, and the UK, providing ample opportunities for small businesses to gain recognition.
Business awards are a strategic, cost-effective way for small businesses to enhance their brand, gain external validation, and ultimately drive growth. By taking advantage of this often-overlooked resource, small businesses can gain a competitive edge in the market.
Anna Stella is an award-winning marketing expert, academic researcher, and founder of the global marketing outsourcing agency BBSA. She is also the president of the BASA Awards and host of the hit YouTube show “The Best of Business Show.” Anna has more than 20 years experience in the B2B, B2C, and non-profit industries. Notable clients include Volkswagen AG, the Government, the European Union, RICS, and Rational AG, to name a few.
Anna holds an MBA in Marketing from Henley Business School, a Master’s Degree (MA) in Strategic Marketing Management from Kingston University, and a BA (Hons) in Marketing and Communications from Nottingham Trent University. She is currently completing a Doctorate in Marketing Outsourcing at Strathclyde University and is due to publish her first book in 2025.
