Why entering industry awards can be a game-changer for your business

Each year, you may start to consider the plethora of industry awards that could be suitable for your business. However, the investment of time, resources and cash can be daunting enough to shelve any prospects of going ahead with the process. Before you close the door on this opportunity though, consider what entering and potentially winning an industry award could do for your business.

Strategic Selection of Awards

When entering an industry award the aim is secure the win. As such, it’s important to be strategic and carefully consider the awards programme and categories to enter. It’s crucial to select awards that align with your business objectives and that put you in the best position possible.

Often, previous winner’s entries are made accessible and act as a fantastic resource into what does (and often more importantly, doesn’t) work for that specific award. Research is key at this stage as you want to allocate your resources to something that you know the business has the most alignment with.

By adopting this early stage of research and investing a little time and effort from the offset, you arm yourself with important selection knowledge. Consider what it is the judges of the award are specifically looking for. What have they previously prioritised, what are their specialities and interests. Then introspectively, with this knowledge, assess whether you have the appropriate content and evidence for a shot of securing your place on the shortlist.

Data, case studies, testimonials and tangible evidence are the key to success. When you’ve consolidated this information, review the category criteria and see which best aligns with this collateral. At this point is should be clear if your entry has value and Is worth submitting. If at this stage it seems that you may not have all the necessary data or information, or if the vision doesn’t quite align, it’s often better to regroup next year with a stronger case and collateral rather than rushing in. That way you have another 12 months to secure those award-winning results and craft the best possible content.

Crafting a Compelling Entry

Crafting the award entry itself is the next step. To get started, you can read our blog on how to write successful award entries for some great tips and support. When drafting the award entry, take a step back and use the opportunity to look introspectively at your business. You need to demonstrate how you stand out against all the competition in your category. This can be in innovation, diversity, growth, investment in people, or strategic thinking.

Traversing this process can help stimulate new ideas for your own business and identify areas that may require improvement or adjustment. This is a fantastic second-hand benefit from entering an award and in some instances, has the potential to be even more valuable than winning.

The Impact of Winning

Winning an award is a great feeling. It’s validation and testament to how hard your business has worked to get this point. However, the work doesn’t stop there. It’s time to put that award to use and sweat the benefits:

Increased Visibility

Landing an industry award is a fantastic marketing tool that can land some meaningful press coverage. Often, large industry awards will be featured and winners profiled across trade titles and sometimes even national press. This level of exposure and recognition will put your business in front of the right people and could even lead to an increase in leads.

Enhanced Credibility

Recognition from awarding industry bodies serves as a valuable third-party endorsement, helping bolster your company’s reputation. This can come in the form of a win, or even a short-listing nomination. Studies have shown that award-winning companies often experience significant growth compared to non-winners. An award win helps differentiate you to customers in the market and provides new weight behind sales pitches.

Motivating Employees

In addition to all the external benefits of winning, or being short-listed for an award, are the internal moral boosting waves felt through the business. Recognition of this kind boosts morale among staff, acting as validation for all their hard work and fostering a sense of pride. This kind of positive environment can lead to improved retention rates and even increased productivity.

Attracting Talent

An “award-winning” status makes your company more appealing to prospective employees, aiding in the recruitment of top-tier talent.

Overall, the potential enrichment for your business when it comes to winning awards is of a greater scale than many realise. The key takeaways to remember are: