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We often get emails asking us to enter awards however they come at a cost. i.e. they are pretty much a sales email. I'm not sure if you can track the ROI from entering award and whether winning/being nominated persuades customers to purchase our product.

  • SK

    Sean Kirby

    over 3 years ago #

    There is some value because it serves as a form of social proof. Given the choice between Widget A and award-winning Widget B, which would you choose?

    It can also help with employee morale. It's recognition for the people who work on it.

    As for actually measuring the impact, that's a little harder. I suppose if you were to win one, you could test promoting this fact vs leaving it off a landing page or other promotion. But that's not 100%, because you won't know if the prospect has prior knowledge of the award or not.

    My suggestion would be to weigh the entry costs, the brand equity of the award or the organization presenting the award and your chances of winning. If you feel you have a good chance of bringing home the hardware and the fees won't break the bank, then go for it.

  • DC

    Douglas Cook

    over 3 years ago #

    I can't share details of the results we saw but our teams have done similar tests to those suggested by Sean above, such as.

    - In a particular market where we had won the same award in the previous year, in order to decide if we wanted to enter again, the squad A/B tested different landing pages to see if those with the awards as a proof point drove greater activation rate than those without.

    - Again where an award was previously run, testing various display ads with and without the award featured.

    There's obviously different ways you can start to slice this data, such as the impact on new versus returning users, different user groups, how different awards perform against each other etc.