Awards programmes go beyond adding glassware and gongs to the boardroom cabinet. Melanie May reveals best practice advice to leverage these potentially lucrative opportunities
Entering awards takes a significant amount of time, effort and money, so what is it that drives so many B2B brands and agencies to enter every year?
Awards provide valuable opportunities to meet specific business objectives, such as profile-building for smaller or newer brands and agencies. “The ultimate prize is where comparisons are made across all business sectors, all company sizes, and by implication across all levels of marketing spend. Small companies, such as our own, are recognised alongside world-leading companies,” says Snelson.
And for an agency, the attention a win can garner can help it meet that universal business objective of increasing their client-base. “Awards get you on the radar, and are looked at a lot by the people we want to speak to,” says Chris Wilson, MD at B2B agency Earnest (multiple winner at the B2B Marketing Awards). “If you get awards, you get client interest. It’s hard to say you’re good unless you’ve been independently validated, so awards wins are an important part of your own marketing.’
In fact, according to Rob Morrice, MD of IAS B2B, there’s a direct correlation between award wins and new business, “Our research shows that over a period of 10 years the most awarded agencies were winning the most business. If you’re not at the top of the awards parade when someone draws up a pitch list, you’re likely to miss out,’ he says.
But with all the effort that goes into entering awards, a valid question is whether it is possible to measure a return on investment. It can be done on a very blunt level, says Wilson. “You can ask new business inquiries where they come from and count the ones that approach you after seeing you win an award,” he says. For Earnest, this has proven the cost of entry is repaid many times over.
Of course, it doesn’t all end with a well-crafted entry. Awards ceremonies provide a fantastic opportunity to network, as well as a good night out among peers and thought leaders. They also provide an opportunity for valuable relationship building and hospitality opportunities between agencies and clients. An awards ceremony is a chance to bond with clients socially and at the same time promote the agency’s work, be it for that particular client or another.
After the event itself, shortlisted and winning brands can capitalise further on their success by sharing their story via PR, social media and email to prospects and customers, as well as stakeholders and the wider media.
Awards don’t only provide opportunities for the entrants but for the sponsors too. “Sponsorship is about aligning yourself with the best-in-class performance,” says Runacus. He advises would-be sponsors to choose categories they want to be seen as experts in, either where they already have this reputation or in an area they are aiming for in the case of brand repositioning.
It is vital to work with the organisers to find out what the opportunities are for amplifying your sponsorship, rather than merely adding your logo to the category. “Primarily, sponsorship is about leadership and responsibility, and backing what you fundamentally believe in,” says Ian Cooper, commercial director at Birddog. “If handled correctly, the PR opportunities are huge. They should spotlight who you are, what you do and be a badge you are comfortable wearing, providing an insight into how you operate, and with whom.”
To get maximum benefit they should also be more than a one-off – repeated sponsorship should serve to reinforce an organisation’s expertise and leadership.
There is also the wider perspective to consider when it comes to awards. One of the biggest benefits is sharing lessons with the rest of the industry. Winning entries are innovative or prime examples of a job well done, and sharing the story of a winning campaign can only serve to influence the industry and help other players up their game.
As Morrice concludes, “Don’t be afraid to lose. Believe in the quality of your work, and put it out there. It’s an old adage but true, you’ve got to be in it to win it.”
Find out more about the International B2B Marketing Awards 2019 here.
