How to: Got good news?

Written by Deena Waisberg

Your company has just landed a huge contract or won a prestigious award. Guess what? The good news doesn’t have to stop there. Leverage it by using these tactics:

1. Celebrate

Celebrating good news affirms your team’s work and builds their loyalty to your firm. “The sooner you can do this, the better you’ll capture the spirit of the moment,” says Mark Surrette, president of Halifax-based Robertson Surrette Ltd., a human-resources consultancy. The celebration can be simple — say, drinks in the office, a night at the movies or lunch at a swish restaurant.

2. Reward the players

Incentivize your staff to repeat their effort by rewarding them for a job well done. Any type of reward will do, whether a gift certificate, extra vacation or the money and time off to take a course. “Just make sure the size of the reward is in proportion to the size of the win,” says Dave Crisp of Crisp Strategies, a Toronto-based leadership consultancy.

3. Inform business partners

Distinguish your company from its rivals by sending a letter about your good news to customers and suppliers. But be selective, warns Jeff Weiss, president of Harbinger, a Toronto-based PR firm — some customers want to feel like they’re your only client.

4. Tell the media

It’s only natural for people to want to do business with a winner. Issuing a press release to targeted publications can generate coverage that highlights your company’s success.

5. Analyze your work

For instance, ask the client what they felt you did right to win the big contract. Share this information with your team, and collect their thoughts on what they did well and what they could have done better, suggests Crisp.

6. Pursue other opportunities

Use your victory to sell your services to other clients, perhaps in the form of a one-page case study. If you’ve won an award, mention it in your application to other awards programs — the validation just might sway the judges in your favour.

Originally appeared on PROFITguide.com