The Hidden ROI of Industry Awards for B2B Marketers

It may seem counterintuitive to think about what potential awards you could win when embarking on new partnerships or projects, but it’s a mindset that can pay off for marketing teams looking to reinforce brand leadership, nurture customer trust, and build long-term brand equity. In an era where AI saturation has customers questioning everything marketed toward them, third-party validation can set top-tier B2B brands apart.

Robert Cassidy, a retired B2B journalist with more than 50 years of experience in media, is no stranger to giving and receiving awards. The winner of the 46^th annual ABM G.D. Crain, Jr. Award in 2014, Cassidy is a multiple Jesse H. Neal Award winner (considered the “Pulitzer Prize” of B2B media) and has also served as a judge for the Neal Awards, Azbee Awards, American Planning Association Awards, and more. While serving as Editorial Director for Building Design+Construction, he also oversaw and managed its annual Building Team Awards and Reconstruction Awards programs, which recognized AEC (architecture/engineering/construction) firms for excellence in recent commercial construction projects.

“Industry awards are important to show your brand’s excellence and leadership and highlight the work you are producing,” says Cassidy. “People in general are interested in hearing about awards. You hear people talking about the Nobel Prize, the MacArthur ‘Genius Grant’, it’s because people have such an innate interest in awards and the properties and people that win. It’s an important marketing tool that should be part of everyone’s overall plan.”

Tackling the Submission Process

Depending on the industry or size of your company, oftentimes it falls onto marcomm and PR teams to submit their teams for awards, which could be given out by industry associations, B2B media titles, major events, and more. They’ll need to align with customer reps, project managers, and other role players closely aligned with the initiative that’s being considered for recognition. Whether you’re a seasoned pro at putting together award nomination packages or just wondering where or how to get started, it’s important to consider the following:

• The types of B2B awards and recognitions that are available in your industry, as well as the level of prestige each award brings (think Critics Choice Award versus Academy Award)
• When those awards and recognitions receive applications, nominations, or submissions (aka the deadlines)
• The specifics of the entry criteria for the categories relevant to your brand
• The imagery, data, and evidence you have available to support your entries.

“I think the biggest mistakes that teams can make are due to planning errors,” says Cassidy. “You need to be thinking about awards programs the year before they happen. You don’t want to be scrambling to see what you’ve got when it is submission time.”

Cassidy advises marketing teams to consider awards as key pillars of their annual strategy and to build that mindset early in project cycles to produce award-winning entries when the time comes to submit them. This includes making sure that projects are photographed well, testimonials are captured, and data on key metrics is being collected to support strong storytelling for your brand.

Understanding Awards Judging

Depending on the awards program, judging can be a very complicated process, according to Cassidy. For one notable program that Cassidy has served on as a judge, the first level of judging is typically done online by as many as 100 judges, who narrow the field of entrants down to a more manageable number of possible winners in each category. Then a second, more select group of judges evaluates the remaining entries, and each subsequent group of judges narrows down the group until the final jury makes a decision. Whether you win an award can oftentimes come down to the categories you enter, how many entries there are overall, and the strength of your submission package.

“You have to study the entry criteria very carefully, because if you don’t, you can be automatically be bounced from that category,” says Cassidy. “Or if the judges are charitable, they may relocate you to a more correct category. I would suggest not to overdo it with submitting numerous entries, but to pick your best shots.”

One suggestion Cassidy also has is to volunteer to be a judge, if you are eligible and the opportunity is available. “By experiencing it firsthand, you’ll see where in the next planning cycle what you can do differently in planning your next entry packages,” he says.

What to Do After a Win

If you’re lucky enough to come away with an award or recognition from your last industry conference, you may feel the work is over and can move on to the next project or campaign. After all, putting in the work to submit those entries took a lot of time and effort — and oftentimes it is on top of your everyday duties. But that award can have a long shelf life for marketing and PR teams that carefully integrate it into future brand strategies.

“One mistake I’ve noticed over the years was that properties did not make enough of their awards to their own audience,” Cassidy says, referencing B2B media brands. “You really need to show it off, publicize it, get the word out that you’ve won this, to differentiate yourself from your competition.”

While the award itself is often seen as the main benefit, the overall process can support brand leadership efforts and increase customer trust and reliability. It can also, importantly, bring a sense of achievement to internal staff. “I’ve always felt that winning an award is good for the whole team. It’s exciting,” Cassidy says. “'We won an award. We’re getting recognized.’ That gives you a boost. It gives you a huge shot of energy.”