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Why awards are good for small businesses
by team Holly & Co
Winning an award is always a thrill, whether the last time it happened was at your school sports day or more recently for something more high profile. That feeling of finally being seen and of all your hard work paying off stays with you. But did you know there are other awards you can enter, free of charge, which attract the kind of valuable press most small businesses would likely dream of, too? We’re talking awards that celebrate independent industry and all the creativity and joy it brings; the purpose, the passion, the unique products and services… It’s more than a trophy on your mantelpiece (though that’s certainly a joy-spreader). It’s also a powerful piece of marketing that costs nothing yet can get you in front of many more customers and gain your brand real cut through and recognition.
Plus, there are often prizes involved which can help take your business to the next level. What would you do with a £10,000 lump sum, for example? Or a mentoring session from someone who’s been in your exact position and knows how to grow?
Lots of industries have annual awards that set the standard for excellence – whether it’s advertising or beauty, there will be awards that are widely recognised within that sector and beyond. Unfortunately, many are governed by hefty entry fees and expensive ceremonies, and can be a somewhat political affair. If they’ve been created to recognise genuine talent though (like Holly & Co’s very own Independent Awards, for example) they can be good for lots of reasons.
Yes, you’ve got to be in it to win it – winning an award marks a milestone for you and your business – but even if you don’t take first prize, there are still major benefits. Lucy from Acorn and Pip was a runner-up for High Street Shop of the Year in 2020 and she had this to say about it:
“Winning runner-up in The Independent Awards in 2020, we were able to focus our attention on what makes us ‘us’, and we took another leap and opened up a brand new kids shoe shop last week, next to our flagship store. I don’t think we would have had the confidence to do so without the recognition of TIA.”
What’s great is that customers still mention it to her now, so it’s a conversation-starter and a reason why people are attracted to the brand as new or regular customers. Some awards give you the right to display a badge on your products. This can be an instant draw for customers, setting you apart from other brands out there, too.
The reason that awards are so important for small businesses in particular though, is multifaceted. For example, there’s…
Free marketing
If awards don’t cost a lot to enter – or even better, are free – it’s a no-brainer to fill out that form and click on ‘submit’. Awards often publish shortlists and push out profiles of nominees on social media so you could reach millions of customers for no charge at all just for being nominated.
Inspiring others
Your story can inspire others who might really need it: young people entering a challenging job market, people who’ve been made redundant or those just dreaming of giving up an unsatisfying 9 to 5 to create a way of working that works for them. These incredible examples of how it’s possible to do well as a small business are valuable to many. It’s always worth sharing your story as you never know who it will reach and help.
Bolstering your business with prize money
The Independent Awards offer £100,000 across eight categories (which, ok, is the most given out to small businesses by any UK awards but if you won, what could that do for your business? How would it help?). For Alice from the Luminary Bakery, who won the Passion & Purpose award, it brought some welcome stability along with a boost to business in an especially turbulent climate.
She said, “The award was so significant for us in such a difficult time for hospitality businesses – we were able to employ two brand new apprentices who are women that have experienced violence and disadvantage. They’ve both excelled during their apprenticeships. We were also able to grow our little ecommerce business by four times! Posting our letterbox brownies and cakes all across the UK.” So the difference the prize can make is huge.
Yes, you’ve got to be in it to win it – winning an award marks a milestone for you and your business – but even if you don’t take first prize, there are still major benefits.
Reminding people to shop with you
Since COVID-19 has limited people’s ability to browse in-store and created a surge in online shopping sales, people are going on word-of-mouth marketing more than ever before. According to Nielsen, even back in 2012, 92% of consumers around the world said that they trusted ‘earned media’ (which includes awards and recommendations from friends and family) above all other forms of advertising¹. An award is like a big excellent review badge, creating instant trust.
Flying the flag for independents
With 65% of people saying they will continue to shop locally and with independent business whether we’re in a pandemic or not², we need to keep giving them a reason to do so. Awards bring small brands like yours to people’s attention or helps remind them why they loved spending their money with you in the first place, so it’s good for the community, too.
Boosting your confidence
In particular, founders who work alone can spend a lot of time not knowing if they’ve done a good job or not. It’s hard to truly know if people appreciate your brand, ethos or products. An award is a dopamine hit for the brain, but it also gives you the acknowledgement of peers, customers and the industry – a huge emotional reward for all the toil behind closed doors.
Helping you take stock
Making sure you have all the materials you need for a successful entry also offers you a reason to check what competitors are doing and do some house-keeping. Is your website up-to-date? Do you have high quality photography and film? Have you written that inspiring bio yet? Entering awards will motivate you to blitz through all those vital updates so that everything looks shiny, new, and super enticing for judges and customers, alike. Yes, it’s the stuff that we all have to do periodically (and often all put off!) but the sense of ‘getting it done’ can be rewarding in itself. It’ll allow you to see how far you’ve come and you can give yourself a pat on the back before potentially receiving recognition on a bigger stage. Athena from Meticulous Ink won High Street Shop of the Year in The Independent Awards 2020, and that acknowledgment of her efforts was what struck her most.
She said, “Having that recognition for many years of work behind the scenes to make a business that I am so utterly proud of is such an enormous psychological boost. Add to that the incredible cash prize and my mind was completely blown! I used the prize money to invest in a new paper guillotine to replace the rather worn out old one, and put a large chunk towards an enormous printing press that gives us lots more scope to do fun, experimental letterpress printing on a large scale – giant posters and beautiful gift wrap is in the pipeline. I am utterly grateful for being nominated and completely humbled to have won.”
Awards can be perceived as a lot of back-slapping and self-congratulating, but for our sector really, what’s wrong with that? As small businesses, we often keep our heads down and work hard come rain or shine. It’s important for your business, and it’s important for your self-esteem to take a moment to recognise how far you’ve come, whether you become an official winner or not. The sense of ceremony and coming together as a community boosts everyone’s morale, and is especially welcome if you work predominantly alone.
If awards don’t cost a lot to enter – or even better, are free – it’s a no-brainer to fill out that form and click on ‘submit’. Awards often publish shortlists and push out profiles of nominees on social media so you could reach millions of customers for no charge at all just for being nominated.
It also showcases a whole host of wonderful independent businesses and unique products to the general public, raising the profile of small businesses nationwide and encouraging people to shop with us.
If this article has got you excited about entering and winning awards, don’t waste a drop of that enthusiasm, get your entries ready for this year’s Independent Awards or pop a calendar reminder in for next. Fast becoming a highlight in the small business calendar, there’s plenty to benefit from, and who knows, you might just be a winner.
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THE INDEPENDENT AWARDS 2021 ARE OPEN
There’s £100,000 to be shared out across eight categories. It’s free to enter and the entry form is simple. Want to give you business (and confidence) a boost?