How an Award Event Helps to Build a Strong Company Reputation

By: Tetiana Hanchar Tetiana Hanchar
Date: Oct 25, 2017
Comment: 0
Category: Awards Management

Did you know that participation in an awards event can gain impressive benefits for your business strategy? The thing is, in the conditions of the increased industry competitiveness, there’s one word that can help you stand out of the crowd – reputation. By applying for award programs that resonate with your business sphere, you maximize the chances to increase the awareness about your company.

What is a company’s reputation?

For any business, be it a small startup or a widely recognized corporation, reputation is like a reflection on decisions and values that the company cultivates. Reputation is shaped by people who experience any interaction with a company and therefore have a certain opinion about it. The importance of building positive reputation is obvious: the more people rate your business high – the more clients you’ll have.

“It takes many good deeds to build a good reputation,

and only one bad one to lose it.” 一 Benjamin Franklin.

Reputation is a fragile thing that can’t tolerate mistakes. This means businesses have to make every effort to maintain the high quality of products and services they want to sell, build publicity, as well as keep reminding the industry of their existence.

The role of an award event in building company reputation

Understanding the importance of company reputation, businesses try to use any working method that helps magnify on recognition.

Awards events offer one of the most creative and efficient approaches to reputation building. Due to the fact that most industries are overburdened with small and large businesses, people are looking for some “proof of quality” – the information that would support the credibility of a company. By applying for industry awards, companies gain the chance to be officially recognized by target audiences and competitors, which takes the reputation of a business to a whole new level.

How to build company reputation with an award event

If you’re small, but ambitious and success-oriented, you don’t have to be scared of the “industry giants.” With the help of the event awards, building company reputation from scratch isn’t too much trouble. Check out this short guide through reputation building with an event award:

Research and comply. It’s critical to look only for those awarding events that resonate with your level of expertise. Be objective while estimating your capabilities and gain the chance to establish your name on the market.
Don’t cross the line. Applying for thousands of events can leave you short of energy and resources. Create a smart strategy of participation in industry awards to maintain the reasonable level of engagement.
Set up your own awards event. Don’t just sit there and wait for someone to respond: organize your own awards event to increase company reputation! With the availability of online awards management platforms, setting up successful contests is easy, even with minimal resources: focus on attracting relevant businesses, showcase your branding, and organize a transparent judging process to reward the winners.

Let the world talk about your wins. Once you’ve received an industry award, finished the organization of your event or at least participated in a relevant awards ceremony, you have to promote your experiences. Reinforce your story in a press release, a blog post, or a newsletter to encourage your target audiences to talk about your wins.

How to improve company reputation with award event

Even the largest global companies have their bad days. Think about the memo on gender differences from the Google employee or the series of Samsung explosions. One way or another, there’s always a way to regain company’s reputation.

The engagement with recognized awards events is the right way to get your credibility back and magnify on marketing positioning. Here are the tips on reputation improvement:

Gain some cutting-edge benefits. Be it a new product or the new feature added to the toolkit, the innovation can work for your success at industry award events. Introduce your newly baked advantage to the audience by applying for the new category of a contest or launch a creative online campaign that engages as many clients as possible.
Turn your failures into the new opportunities. Companies that are not afraid, to be honest about their failures, regain composure quicker than those that try to hush it up. Turn your failures into lessons and disclose your experiences during industry events. Tell people how you overcame the challenge and teach them how to escape the similar problems. This way, you can turn any event stage into your place for reputation building.
Focus on thought leadership. Your company leaders can help mitigate the negative effects of business failures by showcasing their expertise at industry award events. Encourage your team members to apply for relevant contests and gain benefits for your company reputation.

Successful tips to build company reputation

Your company reputation determines the “now” and “tomorrow” of your business success. Feeding your growth through the participation in industry award events helps you acquire loyal clients and stay ahead of competitors. To make sure that you take the advice and act upon it smartly, we’ve collected some final tips on reputation building:

Know your audience and value proposition. To attract the attention of a target persona, you have to participate in events that can be interesting for this persona. Otherwise, there’s no point to speak from the large stage.
Be aware of your goals. If you want to showcase the new product line, you should either qualify for a nomination that deals with this kind of products or run your own contest to build hype. Remember: your objectives should govern your actions, not vice versa.
Be consistent and evaluate results. No matter what direction you take, interacting with award events, you should always act consistently and track the outcomes of your actions.
Automate the process. If you consider running an awards event to showcase industry expertise, choose a one-stop awards management to simplify the key processes. To see how the automation works, you can get started with Judgify right now.