Why you should enter your business into awards programs and contests.
12/31/2018 10:30
Accounts receivable management companies do great work, but they don’t always seek accolades for their accomplishments. Take business and executive recognition programs, for example. Sure, it’d be great to be noticed for your growth and success, but who has the time to find one of these programs and then fill out what could be a long application?
And is the entry fee even in the budget?
Here’s a secret you may not know: awards from your community and other professional groups can help you leverage your success to accomplish even more, Collector magazine editor Anne Rosso May reports in the December issue. Sometimes winners get prize money, but primarily external awards and recognition are a great way to market yourself to clients and even consumers, and to benchmark yourself against your peers.
Kenlyn Gretz is president and CEO of Americollect, which has made the Inc. 5000 Fastest Growing Private Companies in America list for 10 consecutive years.
He’s also entered his company into other recognition programs, and says that the motivation and information he gets from these programs far exceed the time it takes to apply.
“There’s limited risk,” Gretz noted. “It’s all upside. It’s not like they publish a list of the losers.”
The companies that wind up on these best-of lists aren’t plucked from obscurity—they applied or encouraged their employees to nominate them. Here’s how you can get started.
Where to Look
Start local. Many city newspapers and chambers of commerce host contests for the “best place to work.”
For instance, the Hartford Business Journal recognizes the Best Places to Work in Connecticut,
Minnesota Business Magazine has the 100 Best Companies to Work For and the Phoenix Business Journal puts on the Corporate Excellence Awards each year.
Sometimes vendors give awards to clients; Gretz said his speech analytics vendor, CallMiner, gives out Customer Excellence Awards.
Look for niche contests too. Working Mother hosts several recognition initiatives, including Best Law Firms for Women and Best Companies for Multicultural Women, and the U.S. Department of Commerce hosts the MBDA National Minority Business Awards, which has multiple categories.
Trade and industry groups also have awards programs. ACA International gives awards to outstanding association members and units each summer at its annual convention, and publicizes the winners in print and online.
What to Do If You Win
Tell the world! But first, start with your employees. Send out a companywide email, buy a cake, gather everyone together and thank employees for helping your company earn this award. After all, your company’s success is built on employees’ hard work, and they will be pleased to know their efforts have been recognized by an outside organization.
Next, write up a press release and send it to local news outlets and industry trade groups.
Put the award logo on your website.
Often the contest holder will send you a logo at no cost, but sometimes —as with the Inc. 5000 lists—you’ll have to pay for the privilege. Having that graphic on your website tells clients, potential employees and consumers that your company stands for something good. (Think of it from your clients’ perspective: Wouldn’t they want to boast that they use an award-winning vendor?)
It also sets you apart from your competition and boosts your credibility, Gretz said.
Read more on the benefits of awards programs for your business as well as programs to consider in the December issue of Collector magazine.
Subscriptions to the Collector magazine digital edition and email notifications for each new issue are available for ACA International members by logging in to ACA International’s website here. Members and nonmembers can also purchase a print subscription. Nonmembers can create a guest profile on ACA’s website to subscribe to available publications.