Have you ever picked an alcohol-based wine bottle because it was adorned with shining medals?
The award you receive can be an important aspect of your small business and give you an advantage over your competitors, but you may be skeptical about whether it’s worth the effort.
Ryan Mossy, the co-founder of the multi-award-winning tourism company Two Feet and A heartbeat, discussed with us the benefits of entering award-winning business competitions, the benefits they could bring to your business, and the best way to select and submit the best awards.
What are the advantages of winning awards for business?
There are many, many benefits to winning an award for your business. A few of them are:
- the respect and prestige you receive from peers and in your field
- , which can open up lucrative media and PR opportunities both in the short and long the long
- Credibility and social proof that give your business an edge
- and an opportunity to validate your business concept or method of operation
- the process of reviewing awards, you will receive feedback from industry experts about what you’re doing well (and any areas you can improve on)
- confidence in your company’s performance – an affirmation that you are doing the right thing.
At what stage in your company should you be making an application for prizes?
Certain business owners think that they are in the middle of the growth cycle for their business and that they’re’ready’ to apply for awards. However, I don’t feel as such. It is possible to apply for awards when you have a compelling narrative to present about the company.
If you’re at the beginning of the journey of your business, keep an eye out for new or emerging’ awards categories. Keeping an eye on and noting awards that you might want to be entered into is a crucial aspect of your business plan from the beginning.
Writing applications for awards is time-consuming. Is it better to hire a professional or write it yourself?
It is no secret that applying for business awards can be lengthy. As an example, before I submitted for the WA Tourism Awards, I put aside a whole month to complete the entries. Other awards are less burdensome than this. However, it would help if you were sure to allow more time than required.
Although outsourcing may reduce time, I believe that the company proprietor or an individual in a similar position as General Manager needs to be involved in the process, even if they’re not creating the award. No one knows your business as well as you do. Being aware of the intricate details of your business and the smallest details can make an award-winning entry from others.
If you’re outsourcing your award submission, be prepared to work closely with the person who will write the entry to ensure they have the necessary information to compose an outstanding application.
What steps should you take to make sure you have a solid argument?
The first thing to remember regarding awards is that they are an ongoing preparation process.
Develop the habit of regularly collecting pertinent data and storing it in a file when required. This could result from achieving the sales goal, launching an additional service line, securing a major client, or dramatically growing your social media interaction. Keep track of the achievement date since certain awards are designed for a specific evaluation period, like an accounting year.
Make sure you have ample time to complete your entry. As I mentioned, I devote whole months to writing big, complicated awards.
If the organization or body that holds the award provides the option of a review process, that is where an experienced individual or panel member will look over your work for you before the submission deadline and comment on any possible improvements; You should make use of it.
Follow the directions. Use the specified widths and font sizes if an application requires margin widths and font sizes. It’s a shame to be denied entry due to small things like this.
Connect all your answers with specific examples or proof like percentage increases or sales figures, visits, and so on. Do not make any assertions without evidence, and do not include any information which isn’t accurate.
It’s also a good idea to invite someone who has yet to learn of your business or participate in the writing process to go through the award and then let you know whether it’s simple and easy for them to grasp.
What is the best time to apply for awards?
I’d avoid applying for an award if you know that a prize is not worth it from a marketing standpoint or if it is given to everyone who submits. The award will be viewed as untrustworthy by you and other people in your field if this is the case.
If you are still determining if your business’s potential for awards, then it’s not an appropriate time to apply -instead, set it as your goal to raise it to the next level.
Consider accepting awards if you face significant problems to resolve within your business, like staffing or finances. These require more attention now.
Are there particular industries or sectors to which you think the awards are more pertinent?
I don’t believe that awards are less of a worth based on your industry. Any award program with well-designed application procedures will likely benefit your company.
Service-based companies can gain by winning awards since they provide social legitimacy that can make the intangible tangible. However, the award badge beside the product’s name could be a significant difference, especially when comparing similar products. All else being equal, the awarded product or service will have an edge in marketing.
Who manages business awards, and where can I get information about the recognition that accepts applications?
Associations and industry groups are a good way to begin, as is the local chamber of industry and commerce. Local governments can also host an award ceremony of their own. Sign up for emails from these organizations to ensure you aren’t left out on announcements. You should also ensure you are a member before submitting your awards. If you have to join an organization to participate in the award ceremony, consider whether the worth of the membership is more than the cost. For instance, do they offer additional business opportunities like networking or even training that makes joining a worthwhile investment? If you’re starting as an established business, the expenses could quickly add up when you join lots of organizations, so make sure you evaluate which ones are beneficial to you.
The websites of competitors, as well as marketing platforms, can be great sites to look up industry awards. Find out the details of competitions that your competitors have won or were shortlisted for to get an idea of what’s available. Your business mentor or network might also have information.
Which ones should I steer clear of?
The most important awards to avoid are those given by profit-oriented businesses. It is often quite simple to receive these awards (you might get notified that you’ve been selected without even submitting them); however, you’ll be being sold opportunities for promotion to generate revenue for the business. There’s also a tendency for companies to design themselves awards. It’s crucial to know that the value of these awards lies in having access to an authentic review process for your company and the trustworthiness gained from winning an award.
Are there any benefits in applying for awards when you don’t actually win?
While it’s difficult to participate in an award and then miss out on the biggest prize however, there are plenty of advantages even if you don’t take home the prize.
The award ceremony will force you to think about your business rather than within it and to think about aspects you may not often think about. Consider it an assessment of the health of your business.
Simply submit your business to the notice of important people within your field or local business networks who are on the panel of judges or other ways involved. They might be able to assist or guide you in any way.
The first time you write an award can give you a solid basis to build on to improve your next year, especially if you look for and implement feedback. You won’t have to start with a new project the next time.
If you’re fortunate enough to reach the top of your class, then you might have the option of using a ‘finalist’ badge in order to increase the credibility of your company.
The awards ceremony could be a fantastic evening out and is also an excellent networking opportunity for business.
