We’ve worked with hundreds of agencies over the years. With financial data from so many agencies, we’re able to collate information anonymously and share key trends, stats and averages. One such trend is the positive effect that winning awards has on the bottom line.
Awards are an amazing way to gain good publicity about your business. By becoming a ‘famous’ agency you give yourself a much better chance of winning new business. Not only will you find that you are invited to pitch more often, but you’ll also win more business as people love to associate themselves with famous agencies – it’s less risky for them than picking an unknown agency.
Winning awards gives you a good reason to be more expensive than other agencies. You’ve got the award to prove that you’re the best, and the confidence that goes with it.
Winning awards and gaining recognition gives you more power. As well as justifying your fees, it also means that you are in a much better position to dictate the payment terms of the project, which will help with your cash flow.
Winning awards will raise your profile in the creative talent pool. Being a famous agency will attract the most switched-on and talented people, making it easier to recruit the right people who’ll help your agency grow.
Not only will you attract talent, but winning awards will also boost the morale of your existing team. There’s nothing quite like that feeling of winning and the recognition it gives the team amongst their peers. Working for an award-winning agency is also great for their career – they’re more likely to stay if they’re working for an agency that’s doing great work and getting recognised for it.
Picking the right awards to enter is also important. Pick the right ones for your agency and ones that you have a good chance of winning! Don’t dismiss local awards, as locally-based clients are the easiest to build strong relationships with, and these types of relationships are often the ones that last. And for national awards, choose what you want to be famous for – is it your technical ability, project management or creative genius you want to be known for?
The Wirehive 100 awards are the best of both worlds. Being a regional award with national recognition means that you get to benefit from closer regional relationships, yet still gain publicity from a national audience.
These are just some of the ways that winning awards can help to grow your agency. BUT the best bit about award ceremonies is they will give everyone a well-deserved night out. We hope you have fun at your next awards ceremony (and win too).
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