Advertise both your site and your newsletter. Renew your ads whenever Yahoo automatically tells you that you should do it. If you have a website, and it wins an award, the site that gave you that award will put you in its winner list. Now that's outside your community. Odds are it's full of award-seekers who will never visit your site, but I figure it can't hurt.
Banner ads stink.
But awards may be different. When a search engine evaluates your site, it looks at how many other sites link to you, and how many other sites you link to. Award graphics take forever to load. I don't care if no one ever sees that page. It's just my way to display those awards.