A current strategy small business owners are using to stand out is applying and winning relevant industry awards. Industry awards can increase your website traffic, and business credibility in your given field. The process of applying for industry awards can be tedious, but in our current competitive market, even being a nominee can promote growth.
The top reasons why industry awards are beneficial to growing your company.
- Potential clients hire the leaders of their industry. Being associated with an award organization will help enhance the perception of your business as a leader, and will help confidence prospects that they should pick your business to work with. As an award winner you are seen as “better than” your competitors who have not won similar awards. When researching awards, be sure to approach competitions that match with what your target audiences value.
- Winning awards can lead to potential sponsors that want to invest into your business. Since there is an unlimited amount of startups in our world, companies looking to invest will want to ensure they are investing into businesses that are considered “experts by outside organizations”.
- As a small business you have the possibility to be associated with the elite in your industry. When achieving an award competition, you’re associated with some of the greatest companies and remarkable leaders. Being associated, can be taken as an advantage when networking. You now have similar business achievements with other noteworthy businesses.
- Winning an industry award is an effective form of PR for your small business. The industry award organizations have their own forms of social media, and press coverage, and your business will be featured on all forms. You can create your own press release announcing your award and distribute it to appropriate outlets.
How to Start Your Industry Award Research
- Prioritize industry awards within your field: Your business targets groups of customers that are specific to your product or service, you should apply to awards that will enhance and highlight your skill/product/service. Your company’s past and present projects will be celebrated, and new customers will be educated on your unique business.
- Choose awards that focus on your strengths: To increase the chances of your business winning, ensure you focus on awards that compliment your strengths. For example, if your business excels at innovation or community involvement, apply to awards that focus on those strengths.
- Start local: Apply for awards that honor businesses near your location. Local awards will hold more value to your community-based customers. Tip: take notes at the other awards other local businesses have won in the past.
- Study the accomplishments on your competitors: Create a list of your regional, national, and global competitors, and conduct research on the steps necessary to complete an application. This will provide a great starting point for winning possible awards. Also pay attention to application fees, recommendations required, and due dates.
We found a great website that offers a comprehensive list with industry filters for U.S. and international awards and what the deadlines are, definitely worth checking out: https://awards-list.com/international-awards-by-sector/
Lastly, we just want to reiterate that finding the right awards to compete in and the process of entering can be very time-consuming. When you’re ready, shoot us an email…We’re always happy to help!