Awards Programs—are they worth the effort?

No matter which industry you belong to, I’d be surprised if there wasn’t an awards program aligned to it—something that recognises outstanding achievement in your field or in business in general.

But for business owners already stretched, dedicating the time required to do an application justice, can knock the idea on the head before they’ve even begun. However, it’s important to keep in mind, short-term pain may lead to long-term gain!

So how do you weigh up whether it’s worth it for your business to put the effort into developing an award application?

For starters, you might begin by reflecting on your previous year in business:

  • What were your achievements?
  • Did you experience significant growth or a bump in sales?
  • Win any important contracts?
  • Implement new systems or processes that led to improvements?
  • Launch a successful new product or service?

If you’ve got something interesting to talk about or you’ve made some notable headway with your business, take a close look at the nomination criteria for the awards program you’re considering to see if your achievements fit within the scope of what they’re looking for.

Then, look at the deadlines for submission and the supporting materials you’ll need to pull together…and if it looks realistic, get started.

Are there really benefits of nominating for awards?

If you’re still not convinced that the investment and time is worth it, consider the following:

  • You may just win! This could lead to financial or other rewards or a boost in publicity and profile that results in more customers or clients.
  • It could be a morale boost for your team to come together and celebrate your achievements at the awards event—win or lose!
  • Going through the process of writing an awards submission may also give you further clarity about your business—your achievements and your future plans.
  • The process can also help get your documentation in order and highlight areas for improvement.
  • Getting your business in front of the judging panel is also an exercise in profile boosting.
  • Plus, if you win, you can use this achievement on your marketing material to reinforce your credibility.
  • And once you have an application together, you can adapt it and update it to use for future awards.

If you’re keen for a second opinion about whether your business is ready to nominate for an awards program, why not have a chat to your PaySmart Business Development Manager? Their role is to help you reach your business aims and growth plans and they may know about an awards program that’s perfect for your business. Good luck and see you on the podium!