Applying for and winning the right company awards can set your business apart from the competition, establish credibility for your organization, attract top talent, and open doors to new clients and partnership opportunities.
If you are a business owner or leader weighing your options with business awards, it helps to understand the types of company awards to apply for, what each award says about your business, and how to build an intentional awards strategy.
From Startup Entrepreneur to Large Organizations: Why Company Awards Matter
Industry and business awards can serve as a powerful third-party endorsement of a business’s innovation, results, or company culture.
Recognition from respected awards platforms signals that your business meets or exceeds expectations and high standards, which can help you stand out in a crowded marketplace.
Award wins also come with built-in marketing potential and content in the form of press releases, social posts, sales deck logos, and website badges that reinforce your brand story and your award-winning prowess.
Many award winners in a variety of industries report a wealth of benefits from award honors or even nominations, from increased revenue to a wider customer base.
Key Types of Company Awards to Apply For
When planning out a company award strategy, think in terms of a balanced award portfolio of submissions and recognition. Types of awards include general business excellence awards, best workplaces awards, industry-specific awards that recognize everything from cybersecurity to restaurants, workplace culture awards, product and service achievement awards, and leadership and founder awards.
By targeting three to five strategically chosen award categories, you can be sure to be recognized for your niche contributions, which can be a more effective strategy than applying to every award you can find, regardless of the scope.
Each type of business award comes with its own benefits:
- General business awards can give broad visibility and offer flexible categories for businesses of all sizes.
- Awards for particular innovations position your company as a thought-leader in your field.
- Workplace and culture awards signal to top talent that your business is a great place to work and is a significant recruiting advantage.
- Customer excellence awards reinforce trust in your brand and draw in new clients.
- Niche, sector-specific awards are a highly relevant proof-point for consumers.
- Leadership awards elevate key leaders in your organization to the position of subject-matter experts.
One program can often offer multiple categories that fit your business size, scope, sector, and mission.
Choosing the Right Company Awards to Submit Applications For
With hundreds of options locally, nationally, and internationally, business leaders may find choosing which awards to apply for a daunting task. However, they can narrow the field by looking at different criteria to decide which company awards are worth their while.
Relevance
Relevance is of the utmost importance. Leaders should choose awards that align with their company size, goals, and priorities, so that a potential award win will resonate with their target audience.
Credibility
Companies should look for awards with independent judging panels, clear judging criteria or guidelines on who to nominate, and recognizable past winners. These factors all signal that an award platform has enough credibility to be considered a good fit.
Application and Nomination Processes
Businesses should also consider the effort necessary to apply for the award versus the payoff of a win. Some award platforms can come with a substantial application process and even fees to apply. Business leaders should balance effort with the potential visibility and benefits of the award.
Time and Cost
Lastly, businesses should consider timing and budget when applying for awards. They will want to support wins with timely PR campaigns, so it helps to map out application deadlines and seasonal opportunities.
Turning Award Wins Into Long-Term Value
Winning a company award (or even being shortlisted for one) can bring significant benefits and value to your business. To get the most from award recognition, businesses should announce the win on their social media pages, through press releases, and in email campaigns.
They should also add the winner badges to their websites, sales decks, and email signatures to get the most leverage out of the win.
Businesses should also celebrate their award wins internally. Winning awards as a company can be a major boost to employee morale and reinforce the positive behaviors that led to the win in the first place.
Over time, a deliberate award application strategy can boost the credibility and visibility of a company. Accolades for leadership, culture, or innovation can be powerful proof that your business stands apart from the competition and is a force to be reckoned with in the marketplace.
