How important is it to win a Grammy Award?

How important is a Grammy to the singers?
The Grammy Awards (originally called the Gramophone Awards)—or Grammys—are presented annually by the National Academy of Recording Arts and Sciences of the United States for outstanding achievements in the music industry. The awards ceremony features performances by prominent artists, and some of the awards of more popular interest are presented in a widely-viewed televised ceremony. The current President of the Academy is Neil Portnow.
The Grammys are considered to be the most prestigious music award. Awards are given in about ninety categories ranging from 'Best Album of the Year' to 'Best Classical Contemporary Composition' and the like. Most of those Grammy categories are not movie-related at all. In recent years there have been two or three categories, which are in fact exclusively covering contributions to the world of film and TV. It probably meant more at one time than it does today when there are so many award shows. At one time it meant a huge increase in album sales. In the old day with only three channels just about everyone watched the Grammy awards. It, like the Oscars, are still distinguished enough in the eyes of the world that anyone who ever receives a Grammy will be referred to as "Grammy winner". Even being just a nominee often carries nearly the same cache. The old joke is even to nominated is an honor actually is true when it comes to the Grammy and the Academy Awards.
Source: Wikipedia