Are business awards worth the effort?

No matter which sector or region you’re in there is a raft of awards you can enter, attend or sponsor (or do all three). It’s big business. Some have over 30 categories with over 1,000 people attending on the night. A great opportunity, right? That depends…

It’s fair to say Freshfield’s dinner jackets and LBDs have seen some award action through the years, making us ideally placed to share some insight into whether awards are worth entering or not.

It needs to be part of a wider strategy

Like all marketing, entering awards should be part of a wider plan. There is no point in just entering the odd award or attending the event for the sake of it.

If your grand plan is about positioning your firm as a leading light in a sector, market or region, then entering and winning (and in some cases being short-listed) for the right award gives you great brand ammunition. Overnight you become an ‘award-winning’ firm and this can quickly demonstrate service or product excellence. Likewise, if you’re looking to build your black book in a specific sector, sponsoring an award can expose your brand to the right audience, while allowing you to meet some useful people.

Do your research. Find out more about the awards process and the business community linked to the awards. If your market is the regional SME sector, then a regional business awards could get you in front of the right people. Conversely, if your market is public sector IT, then a regional business awards event is not worth the investment.

If you do enter, make sure your business has excelled

Awards are there to recognise the best over a specific period, usually a year. I’ve seen many businesses get talked into entering awards on the back of an OK year. You don’t win an award for just being OK. Choose the race you feel you have the best chance of winning and look carefully at the questions. If you’ve excelled at each section and feel you stand a chance, go for it.

Quality counts

I’ve been an awards judge on many occasions and seen some great businesses lose out because their content was poor. Your entry is an opportunity to tell a great story so get a professional to help you. Remember, influencers will be reading your entry and if it’s poorly written, it could harm your reputation. Likewise, if the process involves an interview, you need to present your best team. It’s a pitch after all.

Have a BD plan for the event

Put your business hat on, it’s not just a jolly. If you’ve chosen the right awards, there will be a glut of BD opportunities. Do your homework, look at the table plan, catch up with some familiar faces and make some new contacts. We’ve created lots of opportunities by making ourselves known at award events. Think beyond the event too. If the host is a business magazine, how can you make yourself known to its followers? Ask the host, there are plenty of opportunities.

Allocate a budget

Entry fee, time, tickets, bar bill, taxi, accommodation, new clobber; it can be expensive. But if you choose wisely and note the above, it should be a worthwhile investment.

Don’t be the serial loser

I’ve been to awards where some businesses have been shortlisted for six or seven categories and didn’t win any. It can really drain the hardiest of professionals. If you feel confident of landing multiple awards, cap it at three and hedge your bets. If you win a hat-trick great, if you don’t, at least you’re not reeling from a ‘hammering’ (which could be more embarrassing if you’re with clients).

Awards present numerous benefits. Winning one can boost your brand and team morale while attending or sponsoring one can open lots of doors.

But it must be the right awards event. Having a focussed, quality approach can give you an advantage and prevent unnecessary waste.