How Do You Stay Up to Date on Which Industry Awards Are Worth Pursuing?

How Do You Know Which Business Awards Are Worth Going For?

Industry awards can help you market your firm, giving you a chance to tout recent successes and showcase services. But not every award is equal: Some groups carry strong name recognition and value, while others may offer nothing more than a chance to waste your time. So how do you make sure you don’t miss out on the best awards out there? To find out, we asked members from the Young Entrepreneur Council this question:

“How do you stay up to date on certain business/marketing awards you could be eligible for and how can you make sure they are worth your effort?”

How Do You Know Which Business Awards Are Worth Going For?

Here’s what YEC community members had to say:

1. Understand the Value First

“I like to see who gets the awards and understand how the companies use the awards to their benefit before entering any competition. It has to deliver some value in terms of marketing that recognition to the audience to be worth the effort.” ~ Drew HendricksButtercup

2. Perform a Backlink Analysis

Open Site Explorer from Moz allows you to see what backlinks are pointing to the websites of your competitors. Conducting backlink analysis enables you to discover business awards the competition has won through the years. Simply start a spreadsheet documenting these awards — prioritizing them based on their link value — and then begin applying to receive a dual benefit: links and recognition.” ~ Brett FarmiloeMarkitors

3. Create a Calendar Ahead of Time

“Each year, my team and I look for conferences and awards that we know we’ll want to submit to. The best way to make sure they are worth our effort is if we’ve heard of them before, know peers within the industry who have won these awards and if they’re given by a reputable company. Then we put together a calendar for the year that we keep track of them on, so as to not miss anything.” ~ John HallInfluence & Co.

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4. Join Professional Networks

“Professional network communities are great ways to stay on top of new business awards that are announced. In the true communities, entrepreneurs share resources and award deadlines with each other. You may also find previous award winners to ask for advice and winning strategies.” ~ Adelyn Zhou, TOPBOTS

5. Get the Aid of Friends and Supporters

“Even before researching and scheduling award deadlines and requirements, I try to position our company as a winner in the court of opinion. When friends and supporters see us as worthy of recognition, they take steps to help us get it — recommending awards they value and consider ours for the taking, based on our merit.” ~ Manpreet SinghTalkLocal

6. Join Award Site Social Media Pages

“I follow these awards on their social media sites and also magazines that sponsor these awards to stay on top of what I could be eligible for. I also have joined female entrepreneur groups that regularly share information about these awards.” ~ Angela RuthDue

7. Check for Age, Professionalism and Buzz

“It’s hard there are a lot of awards out there, particularly in this space. We weigh the ones that are included in industry publications, and those that have been around for longer as more important. With newer ones, there is an element of trial and error, and depending on the level of professionalism and generated buzz, we’ll determine if it’s worth entering again.” ~ Baruch LabunskiRank Secure

8. Look for Credible Media Outlets

“I evaluate the worthiness of awards mostly based on the outlet that is hosting the award. If it’s a credible media outlet, most likely it will be worth the time. I have developed a calendar of awards that I am interested in, and use that to keep up with submissions.” ~ Tommy MelloA1 Garage Door Repair

9. Make a List, Then Rank It for Pertinence

“I compile a list of the types of awards I would like to apply for, and then assess each to determine how pertinent they are to me and my company, then rank them. Next, I will go ahead and remove those which I am not eligible for, and thereafter estimate the amount of time required for each award application. All this collated information then enables me to make sure an award is worth my effort.” ~ Luigi WewegeVivier Group

10. Make Awards Part of Your PR Strategy

“Whether you outsource to a PR firm or someone inside your organization is responsible for getting press, receiving awards should be part of your public relations strategy. Before applying for an award, however, reach out to contacts who have been recognized before to understand the application experience and learn what they got out of it. They may even give you insights on how to win.” ~ Matt WilsonUnder30Experiences

Awards Photo via Shutterstock

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The Young Entrepreneur Council The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world's most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.

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