Industry awards and why they matter; the value of 3rd party market validation

An industry award is a powerful marketing tool; it's one of the ultimate forms of 3rd-party market validation. Building credibility is essential for any startup or established company – regardless of size, market validation is a critical cog that companies shouldn't discount or overlook. In the tech and business industry, there are many coveted awards, including those from CES, SXSW, Fast Company Fast 50, Inc. 500, Ernst & Young's Entrepreneur Of The Year, Deloitte Technology Fast 500, Forbes America's Most Promising Companies, etc.

Why are industry awards important? 
When someone sees that your product or service has won an award, it gives prospective customers peace of mind that the product or service must be good — or at least better than similar products or services from other vendors. This scenario is especially true if your competition didn't win one. And industry recognition isn't just about winning over new customers; it's also about retaining existing ones and keeping them happy with their purchase decision. But there's more to it than just winning awards.

Whether you successfully secured your award through a popular vote (i.e., People's Choice) or your company or executive was selected by an esteemed panel of experts, who weighed in on the winners, the reality is that an industry award helps separate you from the rest of the pack. When you win an industry award, people assume that the judges know what they're doing and they usually do.

Moreover, awards build valuable credibility, which is critical – especially for startups building their footprint, market share, and brand awareness. Industry awards help generate buzz for your brand, attract and retain top talent, and establish your company as an industry leader. And a little humblebrag doesn't hurt, either.

The best awards are those announced by 3rd parties with no financial interest in the company. These industry awards are often called "editorial" or "best-of" recognition. They are typically given in magazines, newspapers and online publications or announced by independent organizations.

Awards are like industry conferences; they are abundant and happen throughout the year. Sometimes award opportunities occur with regularity, while many pop up randomly. They all have deadlines, and some have entry fees (usually, the fee amount is nominal, under $1K). Also, awards are "long-lead," meaning the submission window is around 4-6 months in advance. Typically awards come in three categories: individual, corporation/organization, and product or service. Companies should strive to secure validation across each of these categories to strengthen the company's brand. 

Humblebrag
On the awards front alone, Ignite X has helped our clients secure hundreds of awards — and the most coveted ones too; a sample of awards that our clients have secured through our support include: TechCrunch’s Startup Battlefield SF Disrupt winner, Wall Street Journal’s Best Software Company, Best Consumer AI Technology, Best of CES, GSMA’s Best Cloud Technology and many more. 

Ignite X is proud to have been recently selected again by Expertise as one of the top PR agencies within the San Francisco Bay Area region. Akin to the Good Housekeeping Seal, Expertise is a national organization that evaluates a range of service providers in more than 200 industries across the U.S. Its independent research covers legal, home, and businesses as well as a plethora of other services. Expertise's findings and subsequent awards help businesses and consumers make better-informed decisions about their business investment or purchasing decisions.

Since 2017, Expertise has named Ignite X one of the top PR agencies in San Francisco. With more than 700 PR firms operating in the San Francisco Bay Area, this is a challenging feat to accomplish. We also congratulate the other public relations agencies that have gained Expertise's top recognition. 

If you want to grow your company's presence, expand market validation or scale your business, contact Ignite X or give us a ring at 650-576-6444, so we can partner and help you.