Assimilate the Best Industry Practices for Your Project through Award Contests

Ups and downs are an integral part of every business. Difficulties and great opportunities chase business owners at every corner which build diverse landscapes for industry practices. Assimilating the best of them doesn’t mean your company can break the rules and go to target audiences without mistakes. The ability to look inside proven industry strategies can help you benchmark and solidify your business efforts.

What are industry best practices

The best practices of industries are the result of successfully executed projects, campaigns, and partnerships. Depending on the types of business and the level of competition, the best practices can be both small promotional campaigns on social media or huge fundraising campaigns. Therefore, to find out what works for your project, tap into three aspects of business practices: 1) competitiveness; 2) project goals; 3) industry specifics.

Why do you need this?

Making your project successful through benchmarking has a number of benefits:

• Attracting new ideas. Inventing ideas that can appeal to your target audience is a risky deal. In contrast, the exploration of the best industry practices is a surefire way to attract ideas which actually work.

• Performing better. By not copying the business strategy of a competitor, but by tweaking successful ideas to match the project, your business can start performing better.
• Making it cost-effective. Testing new ideas for your project promotion requires money. To cut the cost, you can borrow working strategies from the best industry players.
• Avoiding mistakes. To keep your project afloat, you have to minimize mistakes. Leverage the best industry ideas and pave the way to success for your creation.

What are the best industry practices in award contest organization?

Being an industry star means having the courage to claim leadership. From startups to established brands, businesses throughout the world gain PR through award contest organization. Drumming up attention for your business through contests is a practice that allows increased recognition, promotion of a product, a boost in sales, and the gain of new contacts – all in one. Check the most popular industry practices to organize an award contest which will turn your project into a star:

Project awards

Successful contests are those that don’t strive to be all-inclusive. Embracing a targeted focus for industry projects helps not only attract the right audience but also put an emphasis on the aspect that your business wants to promote.

Red Dot Awards is a world-renowned event that celebrates the excellence of product design. By focusing on a design-savvy audience, this award contest management system helps businesses reach a very specific goal without creating any extra distractions.

Partner awards

Effective partnerships make the best glue for the growth of businesses. Organizing partner awards is a common practice for awarding key industry partners. This type of award event is a great asset for both startups and “industry giants.” Thus, young companies who participate in a partner race gain proven partnerships while big companies get the chance to win the status of a successful partner.

Microsoft Inspire provides a great example of the “Best Partner” award. Focusing on partner achievements in the tech industry, Microsoft awards businesses from 100+ companies annually.

Startup awards

For newcomers, participation in startup awards can be a key way to present breakthrough projects. The celebration of innovative ideas takes the best new businesses through the door into their target industry. Promoting projects through startup awards is a good way to showcase your business if an out-of-the-box idea is your strong suit.

An example of a startup award event which fascinates all tech geeks worldwide is Google Play Awards.

Personal achievement awards

The “people approach” is the most personalized format of project awarding events. If your target industry appreciates personal achievement contests and you have team members who can present your business expertise through their personalities, go for it. The benefit of this strategy is that the real face of a project can build the best mental shortcuts for your target audience.

Organized by People Business (PB), the Great Manager Award is the annual hunt for business leaders who benchmarks personal expertise as an asset of project efficiency.

Digital technology awards

No matter which industry you cater to, the assistance of digital technology solving project problems is a must. Quite often, the operational side of project implementation plays an essential role in the positioning of the company in the industry market. By setting up an awards event for the businesses with the best digital technology backup, you can watch the growth of automated project solutions in action.  

As an example, Digital Tech Awards, organized by ScotlandIS, is a key arena for business networking and project presentation in Scotland.

Tips on how to choose the best industry practices

So, the landscape is rich. But how do you actually know that a specific business experience will work for your project? Here are some tips on making the right choice of successful business practices:

• See the context. Every successful business idea works because it makes the right match with the context surrounding it. Prior to borrowing ideas from Google and Amazon, think whether your resources, target audience, and goals are the same as theirs. Removing an idea from its context can be a costly mistake which is why you have to provide the right surroundings to repeat the stunning success of your business idols.
• Test the idea. Sustaining deep research into the business ideas in your target industry is the only way to make it work for you. Pick a resonating strategy and see how different industry players leverage it under different conditions.
• Automate the execution. Once you’ve found the idea, think of ways to organize a contest with ease and automation. Effective execution of contests/awards/abstracts can have a direct impact on the outcome of project promotion.