Last week, one of my colleagues asked for my assistance with an award entry he was working on. Of course, I always try my best to help my fellow experts however I can, so I agreed and promptly asked what the award entry was for. He indicated that it was for my blog. My jaw – that is, if I had a jaw – would have descended and hit the Earth’s surface at that point!
I was completely taken aback and humbled to say the least. My blog having the chance to earn an award… I quickly drifted off and imagined myself in a black tux with tails, sitting amongst some of the biggest stars in extra-terrestrial entertainment. E.T. was there. Groot’s woodsy façade could be seen from across the room. And nearby was one of my personal heroes, the Queen Xenomorph! Jeff Goldblum was about to announce the winner in his unique Jeff Goldblum style when I was thrust back to reality, my coworker exclaiming, “Mort! Snap out of it!”
I didn’t share my private little escape with him but instead asked that all important question of, “Why my blog?” I know I have a bit of a fan following in the credit union mortgage industry, but this award was being presented by an organization of communication professionals. Apparently, they might be interested in evaluating how I relate my intergalactic home loan adventures to mortgage lending.
There was then a second “Why?” from me, as I tried to understand how making an entry for an award and possibly winning one would benefit the work we do helping credit union partners become GREAT mortgage lenders. What my friend in Marketing explained made perfect sense as it concerned the benefits of submitting an award nomination, so much sense that I thought it would be helpful to my readers to share here.
Now, it’s no big secret that some level of marketing is needed for a credit union mortgage lender to succeed. After all, if your members don’t know you offer mortgages, they will find someplace else that does. When you enter awards competitions, you are essentially marketing your credit union and setting it up for future success by:
- Getting Professional Input: First, providing data and results on the typically rigorous entry form helps your marketing team take a fresh look at their work from an external perspective. Then, the industry judges – whether from our field or related fields – evaluate the work and provide their insights.
- Increasing Exposure: When your credit union wins an award, it is publicized and communicated by the organization presenting the award. Whether through news releases, social media posts or even blogs, your big win is broadcast to various audiences for free! That exposure is doubled when you and your credit union do the same and publicize the win.
- Establishing Benchmarks: When you have an award-winning program, it sets the bar of success. While there’s the adage of, “If it isn’t broken, don’t fix it,” there’s also this fact: Nothing is perfect. There’s always room for improvement and even better results from your marketing when those improvements are implemented.
- Increasing Employee Motivation: Who doesn’t want to be a part of an organization that does great things? Winning an award heightens spirits and motivates everyone to do their best and be a part of something wonderful and exciting.
- Establishing Thought Leadership: To be recognized with an award is a strong indicator that not only do you know what you’re doing but you’re doing it at an exemplary level. You become the credit union where members and prospective members come when they have questions and want to do business. Plus, being an industry thought leader also helps in…
- Attracting Talent: When you and your credit union are recognized as industry thought leaders, those looking for a positive career change gravitate to your credit union. In today’s competitive job market, this will help set you apart from the contenders.
But what if you don’t win?
There are still benefits from simply taking part in an awards competition! You’ve heard the phrase, “It’s about the journey more than the destination.” That certainly applies to entering awards competitions. Putting together an award application helps you reflect on your skills, the progress you and your credit union have made toward your goals and identifying what makes you unique and special in your members’ eyes. Even if you don’t take home an award, you still receive confirmation of your strengths as well as help in identifying areas that may need improvement. It’s like a roadmap to future planning.
So, the next time you have the opportunity to enter an awards competition, recognize that it’s for much more than a simple pat on the back. Recognize it as a strategic opportunity to take a deeper dive into your work, market your credit union, enhance your business and ultimately help more of your members with homeownership!