The Marketing Power of Awards
Window & Door is now accepting nominations for the Dealer of the Year Awards through Friday, August 19. Why should you care?
This awards program, sponsored by the Window & Door Dealers Alliance, offers residential window and door retails the opportunity to be recognized in front of a national audience of their colleagues for overall leadership and efforts toward excellence in the areas of marketing, customer service, installation, showroom design, technology integration, and community outreach. The award not only serves to elevate the honorees within the industry, but also provides the winners a platform of distinction with their customers.
This begs the question: do awards really matter to consumers? It’s difficult to find hard numbers that prove the actual effectiveness of awards in relation to sales. An old study by Hendricks & Singhal of the University of Western Ontario and Georgia Institute of Technology is often quoted on the topic, which revealed that corporate award winners had 37 percent more sales growth than their peers. But, critics of this and similar studies point out the many other factors that could play into this success—elements such as general industry and economic health, but also, and perhaps more importantly, whether or not and to what extent the companies publicize their awards.
This, to me, is really more the point than the hard numbers. If the goal of winning an award is simply self-gratification of a job well done, there’s not a ton of value beyond the plaque on the wall. But those that use the accolade as an opportunity to help tell their story to customers and potential customers win in an even bigger way.
That is to say, awards matter to your customers as long as you tell them why they matter. Through social media and content marketing, e-newsletters and even local news outlets, winners have marketing gold in their pockets to spend in a number of ways.
What do you think? Do industry awards have marketing value? Do your customers really care? Review this week’s poll, post a comment and/or drop me a line. And, we hope dealers will take the time to fill out a nomination for the Dealer of the Year Awards by Friday, August 19. Manufacturers, we hope you will nominate a dealer that you think deserves the recognition, too.
Survey Results for 08/10/2016:
Do you think awards matter to your customers?