Industry Awards: Are They Worth the Effort?

When award season rolls around, I always find myself asking the same question: are industry awards truly worth the time, effort, and sometimes expense it takes to enter? After all, we’ve all seen the photos of smiling winners clutching their trophies, but who really values these awards, and do they make a real difference?

There’s no doubt that industry awards are both ubiquitous and, at times, seemingly ridiculous. The sheer number of them can make you wonder if they hold any real merit. Yet, they persist for a reason—awards resonate with people. They can impart a sense of collective achievement and recognition, which is something many employees value. It’s not just about a night out; it’s about celebrating a shared purpose, and that can be an incredible motivator for teams.

In today’s competitive market, businesses need every tool in the box to stand out. Industry awards are a tried-and-tested way of raising a company’s profile and offering an extra layer of credibility. Winning or even being nominated for a reputable award helps build brand recognition and demonstrates your expertise in the field, which can open doors to new opportunities.

But let’s be real—not all awards are created equal. Some are prestigious and provide genuine exposure, while others are less about merit and more about vanity, with entry fees that make you question their value. The rise of “pay-to-enter” awards has made it harder to discern which ones are worth it. For example, you may receive an email out of the blue informing you that you’ve been nominated for an award you’ve never even heard of—only to later discover there’s a hefty price tag to participate or even claim your trophy.

So, how do you decide if an award is worth entering? First, focus on the awards that are well-known in your industry. These are the ones that your customers or clients will recognise and respect. Winning a legitimate award can enhance your reputation and bring you valuable media coverage. When we at Home Sales and Lettings won Residential Lettings Team of the Year, it was a moment of immense pride. The recognition didn’t just boost morale within the team—it also gave our clients more confidence in the service we provide. There’s something powerful about being able to say that your company is “award-winning.”

On the other hand, beware of schemes that are more about profit than recognition. These awards often target businesses with aggressive marketing tactics, offering nominations or wins in exchange for fees. They can be tempting, but they rarely hold much value beyond the initial ego boost. If the award doesn’t align with your brand values or doesn’t enhance your reputation within your target market, it’s probably not worth the investment.

That being said, there’s no denying the benefits that come with winning a credible industry award. For starters, it can improve your visibility and help differentiate your business from competitors. It can also be a fantastic way to recognise and reward your team’s hard work, which boosts morale and fosters a sense of belonging. In fact, some of the best moments in my career have been watching my clients or my team’s faces light up as they take the stage to accept an award.

At the end of the day, the real value of industry awards comes down to choosing the right ones. Stick to awards that align with your business’s goals and values. Are they respected in your industry? Will winning one bring you closer to your target market? And most importantly, will it inspire your team to continue delivering the exceptional service that got you there in the first place?

So, are industry awards worth it? Absolutely—if you choose wisely. Winning the right awards can enhance your brand’s credibility, boost team morale, and provide valuable opportunities for growth. Just remember to do your homework, avoid vanity awards, and celebrate your successes when they come!

Home Sales and Lettings: The Property Experts with 30 Years of Experience