Why you need an awards strategy - tips from an expert

Donna O’Toole is the founder and MD of August Recognition, a top global awards agency. She has helped hundreds of businesses, brands, entrepreneurs, and leaders to raise their profile by winning valuable awards and gaining recognition for their achievements. We chatted to Donna about why an awards strategy is central to business success.

Yes, awards are nice to win and give you something to brag about to your peers. But that’s not all. Winning awards comes with a host of incredible benefits for your business and your employees. That’s why it’s important to develop an awards strategy to help you boost your chances of winning and take advantage of all those opportunities.

What is an awards strategy?

An awards strategy is essentially a plan that businesses use to identify, apply for, and make the most of winning industry awards. It’s all about getting recognition for your achievements to boost your company’s reputation and visibility.

Why your business should have an awards strategy

🏆 It helps build credibility - whether you’re nominated, shortlisted or, best case scenario, win an award, it’s a great endorsement for your business. When you have something that you can show, like an award logo or trophy, people are more likely to approve of and trust the things that you do. If you can show that you’ve been named one of the ‘Best Social Media Firms’, clients and future employees are more likely to take you more seriously. That’s why it’s important to have an awards strategy that increases your chances of being recognised.

🏆 It gives your business an edge - an awards strategy can be the difference between you or your competitor winning, or being nominated for, an award. It can also give you a strategic edge by positioning you for success through targeted recognition. A strategy involves providing proof of your expertise and reliability which makes it easier to position you as the top choice above the competition.

🏆 It improves your chances of finding relevant awards - having a dedicated awards strategy in place can help you identify awards that are relevant to your industry and that align with your business goals. Instead of relying on stumbling across awards, an awards strategy helps you stay on the ball and proactively search for opportunities that match your strengths and values. This increases the likelihood of finding relevant awards which can improve your chances of winning.

🏆 It boosts employee morale - by creating an awards strategy along with the help of your team, you can boost employee motivation. Having your achievements laid out and ready to go can make your team feel valued and appreciated which can lead to higher job satisfaction, increased morale, and improved employee retention rates. And, if you end up winning an award through your strategy, the buzz around the office will be unmatched.

🏆 It enhances organisational focus - developing an awards strategy takes a village, so enlisting the help of your team to assess achievements and areas of excellence creates a culture of continuous improvement and innovation. Involving your team in your awards strategy can help your company maintain a sharp focus and high performance.

🏆 It streamlines the application process - by having a dedicated team or individual responsible for managing the awards strategy, you can ensure applications are prepared and submitted on time to reduce the last-minute rush of meeting deadlines.

🏆 It crystalises long-term goals - instead of viewing awards as one-off achievements, an awards strategy lets you set goals for continuous recognition over time. This helps you build a strong legacy and reputation in your industry.

🏆 It brings networking opportunities - by taking part in award programmes, you are more likely to have the opportunity to meet industry leaders, judges, and other participants, so it’s a great way to network. An awards strategy can involve attending events, engaging with peers, and building relationships that lead to valuable connections and collaborations, opening doors to new business opportunities in the future.

🏆 It encourages benchmarking - an awards strategy requires you to benchmark your business against others in your industry, as well as yourself. It helps you understand where you stand and identify areas of improvement. It’s also a fantastic opportunity to set goals for yourself based on awards you’ve been nominated for but may not necessarily have won, or based on what your competitors are doing.

🏆 It attracts attention to your business - having an awards strategy increases your chances of being nominated and shortlisted, and of winning awards. This recognition attracts attention from potential customers and top talent, both of which are crucial for your business's success and continued excellence.

Looking to win some awards?

Looking to raise your profile, boost brand awareness, attract new customers, increase sales, or retain top talent? Winning awards can help you achieve all these goals. For more advice on how to create an awards strategy to ensure your business wins awards year after year, head to August Recognition.