Awards as Marketing Tools?
Published February 21, 2014 at 6:58 am
Another Grammy Awards is in the books, but the chatter surrounding the musical honors has hardly died down. People are still excitedly debating what they think should have happened, recapping the performances that had them dancing and sharing their views on some of the more outrageous sartorial choices. At the end of the day, though, does all of this discussion have much benefit to the artists involved in the show?
According to sales numbers, absolutely.
Last year, British songstress Adele cleaned up at the Grammy Awards, and fans took notes. Her already impressive album sales rose by more than 200 percent in the week directly following her wins. Not only that, her debut album, which was then over two years old, saw an 144 percent spike in sales.
And it’s not just the winners. Other nominees and performers saw bumps in how many albums they sold, in no small part due to the prestige and exposure that comes with having your name in front of so many people at once.
Other industries report similar trends. An article in Publisher’s Weekly detailed the ways in which winning a Pulitzer Prize can have a strong effect on book sales.
“And though the extent of the Pulitzer effect may be more difficult to determine for certain books, it’s unquestionable that it provides a sales boom for the winning author and publisher,” writes author Gabe Habash.
These benefits don’t have to be limited to major awards. Being nominated for or winning an honor in your field can get your name out in front of new potential customers, build brand awareness and let potential consumers know that you take your business very seriously and they should too.