5 Key Reasons Why Awards Should Be A Core Part Of Your Practice Marketing Strategy
When it comes to figuring out your practice’s marketing strategy, most accountants forget about awards…
In fact, awards can yield some of the biggest results (with very little upfront involvement needed) compared to most other marketing strategies.
Winning, being shortlisted and even just entering awards comes with a whole range of benefits for your practice.
Here are 5 key reasons why entering awards (and hopefully winning) should be a core part of your marketing
1. Putting Yourself Out There
When you enter your practice into awards, you’re increasing your brand exposure to both potential clients and the rest of the industry.
As an entry, you’ll be featured in articles online, in press releases about the awards and so on.
And if you win, there’s even greater exposure with the opportunity for local media to pick up on your story and promote it to your local target market.
But don’t worry if you don’t win, the increase in brand awareness and the opportunity for your name to be alongside other successful names in the industry is worth the entry alone.
Which leads nicely into point #2…
2. Awards Build trust
Building trust is a key part of your sales process.
And as an award winner/nominee, clients and potential clients know you can be trusted.
– Award winning car manufacturer…
– Award winning mobile network provider…
– Award winning restaurant…
These are all examples of other industries leveraging awards to build trust with their prospects.
If your practice is award winning, you’ll have instant credibility with your prospects before you’ve even spoken to them – which means when it comes to signing them up, it’s one less objection you have to deal with…
3. Happier And Motivated Staff
Entering awards is a great way of letting your staff know they’re doing a great job.
Increased motivation, happier staff and greater pride in the workplace are all things you can expect to see from an award winning team.
Not only will awards help your existing workforce, they’ll also help you attract new team members in the future.
Who doesn’t want to work for an award-winning practice?
4. Awards Are Low Risk
Compared to other marketing strategies, awards are relatively low risk.
You’re not investing hundreds or thousands of pounds in to a marketing campaign that may or may not work.
The worst-case scenario – you don’t win.
From this you can look at why you didn’t win, and benchmark your practice against the winners (see point #5 below).
All that’s needed is some time initially to complete the application…
(Top tip – find someone in your practice or even ask your team as a whole to draft answers for you, then all you need to do is spend time adding some finesse!)
5. Benchmark Your Performance Internally And Externally
By completing the application process, you may begin to look at your practice differently…
It will make you think back about the things you have achieved, and also about the things you haven’t achieved yet, but may be well on track for.
They’re also a great way to benchmark your performance against other practices in the industry:
– What are you doing well that your competition isn’t?
– What are your competition doing well that you aren’t?
– What can you learn from your competition to do even better?
And from this kind of exercise, your practice can only grow…
Awards You Might Consider Entering…
If you’ve decided from reading this that you want to enter your practice into some awards, then here’s a few places to help you get started:
Industry specific awards:
– Practice Excellence Awards https://www.practice-excellence.co.uk/page/practice-awards/
– British Accountancy Awards https://www.britishaccountancyawards.co.uk/categories/
National business awards:
– The Lloyds Bank National Business Awards https://www.nationalbusinessawards.co.uk/
– The British Small Business Awards https://britishsmallbusinessawards.co.uk/
Local business awards:
– Search “<name of your town> business awards” in Google