Becoming a finalist in a business award is a great sign of future success, as it indicates that your company has already proven to be a leader and innovator in your industry.
However, not every business award is created equal. When you’re browsing through the various entries for each category, it can be difficult to determine which will have the greatest impact on your company moving forward. How can you tell which ones are worth entering? Which ones are just gimmicky? Fortunately, there are several red flags you can look for when analysing each award entry before submitting your application. Some may seem like great opportunities at first glance but knowing what to look for will help you make an informed decision about whether going through with it is the right move for your business.
Are The Judging Criteria Well Defined?
Before you even apply for an award, you should look at the judging criteria to see if your company matches the requirements. The application process for any award is time-consuming, so it’s best to do your research and make sure that your product or service is a good fit from the start. If the award’s website doesn’t specify the judging criteria, red flags should go up immediately. This is a clear indication that the award’s organisers don’t know what they’re doing, which means that you probably shouldn’t trust their judgement either. If the requirements are vague, don’t let that fool you into thinking that you can easily fit the bill. It’s likely that the organisers simply don’t know what they’re looking for, and they’ll be using a very subjective and arbitrary judgement process.
Does The Award Focus On Company Growth?
You can tell a lot about an award by the focus of its category. The best awards focus on aspects like employee satisfaction, customer satisfaction, and community outreach. On the other hand, awards that focus on things like “best use of technology”, “best design”, or “best product” are a bit more subjective and are often chosen based on the designers’ tastes rather than actual merit. Most award providers will either state the category focus plainly or have it available on their website. If not, there are a few ways you can figure out what the focus might be. For example, if it’s a general business excellence award, you want to look at the words they use to describe the category. If they talk about the growth of the company, its impact on the community, its leadership in its industry, etc., then that’s a great sign. If they talk about the need for the product or service, the appearance of the website, or other things that are less relevant to a company’s day-to-day operations, then you’re probably not dealing with a very legitimate award.
Is There A Big Audience Or Media Presence?
Most legitimate business awards will have a large audience and a respectable media presence. They may have a large social media following, a strong internet presence, high-profile sponsors and partners, and even a PR team working the press. If there are no links to the award on their website, or if the award is only advertised in a very small venue that only the organisers themselves know about, then there’s a good chance that it’s a fairly new award that nobody has ever heard of. This is likely because they want to keep a low profile while they determine whether the award is legitimate and worth keeping around. Once they’re confident that it’s worthwhile, they’ll start promoting the award in a more public manner. Or they may never promote it because they don’t want to draw attention to it.
Are The Winners Chosen By An Independent Panel?
The voting process for most business awards should be relatively transparent and free from interference from the organisers. However, many unscrupulous business awards will rig their votes to keep a certain company at the top of the list. Beware of any awards that are not overseen by an independent panel. Even if the voting process is completely fair, it’s possible for the organisers to do things like exclude a competitor or two so that your company is guaranteed to win. This is a common occurrence in sports and entertainment awards, but it’s relatively rare in business. If the organisers are open and honest about their voting process, they should have no reason to be secretive or not to be fully inclusive.
Will Participating Change Something In Your Business?
There are a few awards that claim to be completely open to all applicants, but in reality, they’re only accepting businesses that meet certain conditions. Many big-name awards, like the some ‘Best Companies To Work For’ awards, only accept companies that provide a certain type of employment. Other awards may require you to use a specific vendor or provide a certain type of service in order to apply. This type of restriction can be a red flag, especially if the award doesn’t make it clear up front. If you’re willing to make a few changes to your business to meet the requirements for the award, that’s great. If not, you should probably steer clear.
Are There Any Previous Winners That You Respect And Admire?
If you’re having a hard time deciding between two or three different awards, the best thing you can do is research the previous winners and judges. See which ones you admire and whose success you’d like to emulate. If you know someone personally who has won an award, ask them about their experience. You can also comb through awards websites and forums to read reviews and testimonials from past winners. If there are several winners that you respect, you’re likely dealing with a legitimate award. If there’s only one winner, though, you should be wary.
Conclusion
There are many shady business awards out there, and it can be difficult to tell the difference between the good ones and the bad ones. Before you apply for an award, make sure you know exactly what the judging criteria are, who the judges are, and how winners are chosen. If something seems off, it probably is. Only apply for awards that you know are legitimate and worthwhile. By following these tips, you can easily identify the good awards from the bad ones and make sure that your company is receiving the recognition it deserves and your customers and competitors will respect.