Business awards are an important part of a comprehensive PR program. They validate a company’s accomplishments, raise awareness of its products and boost morale.

But developing and submitting award nominations can be time-consuming. That’s why it’s critical to evaluate each award for its potential impact and the company’s likelihood of winning.

Below are some reasons to pursue business awards and tips for developing strong nominations to win them.

Why Pursue an Award?

Awards are a great way to validate a company’s product offerings and highlight its recent success. While press releases and blog posts do these things to a degree, awards offer the kind of validation that only comes from a third party.

Award programs promote winners through multiple channels, so they’re a great way to raise awareness of a company and its recent successes. Not only does this help reach potential customers, but if the award program is organized by a publication, it can be an excellent way to grab the attention of key reporters.

Beyond appealing to external audiences, awards can boost company morale by celebrating the team’s hard work.

How to Evaluate the Opportunity

Not every award is worth pursuing. It’s important to determine if a specific award is worth the investment of time and resources. First, review the award and any subcategories to determine its relevance to the company and its products.

Next, evaluate the award’s audience. Is the award program run by a trade publication that reaches key customers? Is it an outlet that potential talent may read? If an award reaches a desirable audience, then it’s likely worth pursuing.

Finally, it’s important to determine if the award program is well-respected. Awards’ websites can often tell you how long the program has been operating and some of its previous winners. If the award program has recognized competitors or industry titans, it’s likely relevant to the company.

Create a Winning Nomination

Once you’ve determined an award is relevant, it’s important to ask a challenging question: Could we be a solid contender?

A strong nomination has key proof points to support its claims and highlight the nominee’s success. For example, you might share revenue growth or how much time and money a product has saved customers. Be critical and identify strong metrics that demonstrate the impact of the product or offering.

As teams evaluate the nomination’s proof points, they might conclude that the data isn’t strong enough. If that’s the case, it might make sense to wait and pursue the nomination next year when the application will be stronger. 

Make the Most of It

So, you’ve won an award? Don’t stop there! It’s important to highlight the win to your key audiences, including your team and potential customers.

Publicize your win on social media. This validates your offerings to potential customers. And be sure to share the results with your team and congratulate them on their hard work.

While awards can be time-consuming, they are a great opportunity to celebrate accomplishments and demonstrate momentum.