Should You Apply For Industry Awards?
Short answer? Yes.
Longer answer? Do your research, but generally, yes. Industry awards are sometimes frowned upon since many of them are, to some extent, pay-to-play. For some prestigious awards, you even have to pay to apply. This is oftentimes just a first way for publications to narrow the playing field to those who are serious about the process and willing to have some skin in the game. For other lesser-known industry awards, you have to pay for a “ticket” to attend the event. Oftentimes this is to somewhat cover the cost to the smaller publications of putting on the event and entire awards process. There are also plenty of options out there that are completely organic and no money exchanges hands.
To determine whether or not you should go ahead and apply for an award, you must simply weigh the costs and benefits. Costs include both time and effort from resources on your side, as well as any potential hard costs associated with the award. Benefits include the subsequent marketing value of potentially winning the award, especially for shared audiences and establishing credibility. Serious benefits can also come in the form of improved employee morale. Here are a few places to start:
- Take a look at who is on the judging panel. Are they credible?
- Take a look at who has won in previous years. Are they reputable?
- Take a look at if/how the publication will broadcast the event.
- What sort of exposure will the nominees and/or winners get? How much of this exposure/advertising opportunity is free and how much comes at an additional cost?
I bet you’ll find a good handful of opportunities that you could go after for a fairly small investment compared to other advertising opportunities. Happy applying! And, as always, Impressi is here to help alleviate that “internal resources” cost for you and your firm. Contact us today.