Do Awards Really Do Anything for Your Company?

The business benefits from winning awards

Being recognized for excellence in your industry brings both tangible and intangible advantages. Here are five meaningful ways awards can boost your business.

• Awards help your business build credibility: Placing on an industry list — whether it’s “Top 10 Best Places to Work” or “Largest Wealth Management Firms” — encourages prospective clients to take you seriously before they even explore your full background. Awards serve as powerful trust signals, especially for newer or growing companies that are still establishing their reputation.
• Awards give your business an edge: Awards elevate your visibility, offer third-party validation, help you stand out from the competition and can position your company as a market leader. When used intentionally in sales conversations, award recognition can become an account executive’s ace in the hole by reinforcing expertise and differentiation.
• Awards boost employee morale: Employees take notice when their team earns outside recognition — and when their contributions are singled out — and that kind of validation can mean even more than praise from inside the company. A 2025 PLOS ONE study of more than 25,000 employees found that recognition is the strongest driver of employee engagement, and highly engaged employees report far higher job satisfaction, which naturally supports better performance.
• Awards attract talent to your business: A company’s success depends on its people, and employee recruitment remains a top challenge for many organizations. When candidates see your business ranked as an excellent place to work or recognized for achievements in areas such as diversity, culture or technology, you instantly become more attractive to top-tier talent. Awards signal stability, strong leadership and a healthy workplace environment.
• Awards get your business free publicity: Industry awards can be a valuable addition to your marketing plan. The media exposure and social amplification surrounding an award win often lead to increased inbound interest, new connections and broader marketplace visibility. This external validation reinforces what your company does well and introduces your brand to entirely new audiences.

How to win awards for your business

Awards can positively influence many facets of your business. If you’re ready to pursue recognition or want to ensure your company is considered for industry accolades, here are some smart strategies to guide your approach.

1. Reinforce your corporate direction.

Your awards strategy should align with your business’s broader mission and strengths. If your company emphasizes its ethical business culture, sustainability, exceptional leadership or standout customer experience, look for awards that recognize those specific attributes.

Whether your organization is new or well-established, national small business awards can be especially valuable because they cut across industries and bring broad visibility. Here are several well-known options worth exploring:

• Stevie Awards: Stevie Awards honor excellence in a wide range of business categories, including management, customer service, human resources, marketing, sustainability and corporate social responsibility. If your business has reduced its carbon footprint or launched meaningful internal initiatives, the Stevies may be a strong fit.
• Inc. 5000 Awards: The Inc. 5000 recognizes the fastest-growing private companies in the U.S. Companies that earn a spot benefit from national media exposure, expanded credibility and valuable networking opportunities.
• EY Entrepreneurial Winning Women: EY’s Entrepreneurial Winning Women program selects high-potential women entrepreneurs for a yearlong leadership and business-acceleration program designed to support scale and long-term success.
• EY Entrepreneur of the Year Award: This respected program honors entrepreneurs who are making an impact in their industries, whether in technology, retail, agriculture, media, energy or beyond. Winners join a nationwide community of business leaders and benefit from increased visibility through EY’s platform.

2. Choose industry-specific awards.

If your business serves a niche audience or specializes in a particular field, focus on awards that highlight your expertise. Industry-specific recognition can be especially powerful because it resonates with the customers, partners and peers who understand your work best. Here are a few examples:

• Food service businesses or restaurants: Restaurants and food brands can pursue recognition from organizations such as the Good Food Foundation, the National Restaurant Association and the James Beard Awards, all of which showcase culinary excellence, sustainability and community impact.
• Businesses committed to sustainability: Companies that offer sustainable products, rely on eco-friendly packaging or emphasize responsible operations can pursue awards like the Business Intelligence Group’s Sustainability Awards, the Green Business Bureau Awards or the Veggie Awards, all of which honor environmental and ethical leadership.
• Businesses representing cultures or ethnicities: Minority-owned businesses have several targeted opportunities. Your local Small Business Administration (SBA) office can help identify minority-owned business awards in your region. Additional options include the MVMT50 Awards and Stevie Awards categories for minority-owned companies.

In addition to these, there are awards tailored to veteran-owned businesses, women-owned businesses and a wide range of professional sectors, including marketing, accounting, technology, healthcare and legal services. The key is to identify awards that align closely with what makes your business unique.

3. Find awards focused on your strengths.

To improve your chances of winning, focus on awards that line up with what your business does best. When you showcase your strongest attributes — whether that’s excellent customer service, innovative technology, creative marketing or an outstanding website design — you’re putting yourself in the best position to stand out.

For example, if your company is known for great customer support, the Stevie Awards for Customer Service are a natural fit. If your website is one of your biggest selling points, the WebAwards include categories that highlight design, user experience and overall effectiveness.

Choosing awards that reflect your strengths not only boosts your likelihood of winning but also ensures the recognition you earn reinforces the qualities your brand is already known for.

4. Think local when considering awards.

Local awards can be especially influential because they resonate with the customers, partners and community members who know your business best. Look for recognition tied to your city, region or state; these awards often come with strong press coverage and meaningful local credibility.

For example, a San Francisco-based business might enter the San Francisco Business Times awards for the fastest-growing private companies in the Bay Area. Similar opportunities exist in most metropolitan areas, and many local business journals, chambers of commerce and industry groups host annual awards programs.

5. Research awards your competitors have received.

Your competitors can be one of the best sources for identifying high-value awards. If they’re established enough, browse their websites, read their press releases or run a quick online search to see which accolades they highlight. This gives you a strong starting list of credible awards in your industry.

Seeing which awards your competitors have won can also give you a sense of what matters in your industry. If an award works with your strengths, it may be worth pursuing. Earning similar recognition or even nabbing a competitor’s prior award can help your business stand out in a meaningful way.

6. Prioritize awards that resonate with your customers.

Pursuing awards isn’t about collecting trophies; it’s about being recognized for qualities and values your customers hold dear. Many consumers know that companies can nominate themselves for awards, and some accolades carry more marketing gloss than meaningful value.

To maintain credibility, focus on awards that reflect what your customers actually care about. For example, a badge for “Best Logo Design” won’t influence most buyers, but recognition for exceptional customer service, product quality or community impact will. These categories speak directly to the experience your audience expects when they choose your business.

In competitive markets, customers often weigh several options before choosing a provider. A well-regarded award can help tilt that decision your way by offering trusted, third-party confirmation that your company follows through on what it promises.

7. Highlight your team’s contributions in award submissions.

Awards aren’t only for businesses or products; many also recognize the actual people who make your company successful. Look for opportunities to nominate standout team members whose leadership, innovation or expertise sets your organization apart. Programs like EY’s entrepreneurial awards, for instance, can shine a spotlight on both the individual and your broader business. And yes, nominating yourself is perfectly acceptable when the award aligns with your role and achievements.

Before submitting, double-check that you or your team member meets all eligibility requirements. Few things are more frustrating than putting time into an application only to be disqualified for not meeting the entry criteria.

After applying, stay engaged with the process. Sign up for email updates or follow the award organizer’s announcements so you know when finalists and winners are revealed.

What to do when your business wins an award

Once your business earns an award, maximize the momentum. Here are some best practices to help you make the most of your recognition:

• Issue a press release: Announce your win with a press release to boost visibility. You don’t need an agency; many award organizers offer press release templates, and several free or low-cost distribution services can help you share the news widely.
• Share the news via email marketing: Feature your award in your next email marketing campaign. Tell the story behind the recognition, explain why you were selected and link to your press release for added credibility.
• Use the award logo: Leverage the award organizer’s logo and the phrase “award-winning” across marketing materials. Add it to online ads, direct mail pieces, business cards, your website homepage and your company’s About page. The more consistently you showcase the win, the more authority it carries.
• Mention the award on social media: Share your excitement with followers. Link to the official award page or winner list, post your press release and highlight the achievement on platforms like X, Facebook, Instagram and LinkedIn. Be sure to update your LinkedIn business profile with the new accolade.
• Make a video: Video content marketing can amplify your message across platforms such as YouTube, LinkedIn, Instagram and Facebook. Consider creating a short video that explains the significance of the award and celebrates the team behind it.
• Use your storefront as a showcase: Whether you operate online or in person, make your award visible. Frame it, display it in your lobby or add a window decal so customers and employees see the recognition.

Pursuing accolades takes time, but the payoff can be substantial. When used strategically, an award can strengthen your brand, energize your team and give your business a meaningful competitive edge.