Winning Awards, Should You?

Are awards rigged, and why do we care so much about it? Why do we give attention? How to win it?

Play stupid game,
Win stupid prize.

Proverb

I've recently won the Site of the Year award.

From 737 participants. Over the course of 12 months. 3 Site of the Year Category. My view on this matter is greatly biased. Proceed with caution.

There are 3 types of Business Awards.

1. Rigged Awards – You will need to buy a table to participate in the awards, be a donator, or anything that involves money. Not many can enter the competition because of the heavy cost of entry, therefore lesser competition.
2. Free Awards – Usually driven by a community, organisation or company. Difficult to win, but worth the trouble.
3. Self Award – Make a ceremony to give award to yourself. If you have no network, don't bother at all.

(Let's not talk about 3)

Type 1 and 2 rely greatly on your competency.

Despite Type 1 having low competitors, you are competing with other great companies. Let's not downplay the sacrifices to be made. I've been offered such an Award, however, I need to pay USD10k – To increase my chance of winning.

That's absurd and not ideal.

Type 2 awards are difficult to win because it's an open space. Anyone that pleases the judge's criteria, wins.

Why do we care about Awards anyway?

To put it simply,

The answer, in part, is that we're social animals, explains Stuart Fischoff, Ph.D., professor emeritus of psychology at California State University and senior editor of the Journal of Media Psychology. And, as such, we're more likely to focus our attention on the "alpha" males and females in the pack, whether they be royalty, heroes or celebrities.

Huffpost

We follow the alphas, how they talk, walk, dress, do things because we are equally lost.

How to win awards?

Learn how to play the game.

This is best explained in Game Theory by mathematician John von Neumann and economist Oskar Morgenstern in the 1940s.

Game – how do we win it? There's got to be some criteria for winning. In football, it's how many goals you scored.

Players – who is participating? Knowing your opponents is half the battle won. At best, join the ones that you can win.

Judges – the one that brings equilibrium. In football, it's the referee.

To win Oscar, some production companies paid for billboards along the judges' work route. The more they see it, the more they like it (mere exposure effect by Gustav Fechner, 1876).

Does Winning Awards Get More Sales?

Nothing is certain.

Quite the opposite, winning awards puts pressure on your organisation. Now everyone of those company want to win awards too. – But award is not what they need, it's what they want.

Products and Brand with awards are expected to perform admirably.

Airline of the Year – AirAsia ... need I say more?

Winning award does not win you sales. It bumps up a little bit of credibility. It's a long term game.

Should you win award?

The bonus question.

When building a brand, go out and win award.

Winning customers is short term goal.
Winning loyalty is a long term goal.