How to choose which business awards to apply for
A practical framework for matching the right award to your business goals, audience and stage of growth, plus two real-world examples.
Quick summary:
The right award depends on your specific business goals, not prestige alone. Local, niche and industry-specific awards often deliver more ROI than well-known national awards.
Most major awards require a track record of smaller wins first. A one-time application rarely works; a multi-month or multi-year strategy does.
Beyond company-level awards, individual leaders and employees are usually eligible for separate recognition, multiplying your visibility opportunities.
Why does the "best" award depend on your business, not its prestige?
There's no universal best award. The right choice depends on who you're trying to reach and what you're trying to prove.
A financial services company trying to build trust with national clients needs different recognition than a Denver-based travel founder trying to reach neurodivergent and LGBTQ+ travelers. Matching the award to the audience, not the name recognition, is the first decision point.
For example, if your customers are local business owners, an award from your regional business journal often makes more sense than a national award from a outlet like Inc. or Forbes. A national-level award isn't a bad choice. It's simply a different tool for a different goal.
What should you consider before choosing an award?
Before selecting any award, it helps to answer five questions:
What does success look like in 12 months? More leads, talent attraction, investor credibility, or employee retention all point toward different award categories.
What's your current business and brand snapshot? Your industry, growth stage, key differentiators, and target audience (customers, talent, investors, or partners) all shape which awards are realistic and relevant.
What's your award history? A quick review of what you've applied for, what worked, what didn't, and any awards already on your "dream list" prevents repeating past mistakes.
Who on your team has a story worth telling? Executives and high-performing employees are often eligible for awards separate from the company itself.
Where do you want visibility? Local press, national trade publications, podcast guesting, or AI search visibility all call for different award types and different amplification afterward.
How do local awards compare to national awards?
Both have a place in a strategy, but they solve different problems.
| Local / Regional Awards | National Awards (Inc., Forbes, Fast Company) | |
|---|---|---|
| Cost to apply | Often free | Often $200–$2,000+ |
| Competition level | Lower | Significantly higher |
| Networking value | High, connects you with other leaders in your city | Lower, more anonymous |
| Media coverage | Local press, often with a link back to your site | National press, but harder to win |
| Best for | Early-stage credibility, local customer acquisition, AI/local search visibility | National brand recognition, investor-facing credibility |
| Typical perks | Networking events, "Mentor Monday" invites, keynote opportunities, print inclusion | Press release distribution, brand prestige |
Local business journal awards exist in more than 45 U.S. cities and are frequently free to enter. For an early-stage company building both reputation and local search visibility, this combination of low cost and tangible perks (event invites, backlinks, print coverage) often delivers more practical return than a single high-prestige national award.
Why do most "big" awards require smaller wins first?
Most major industry awards expect a track record of recognition before they'll seriously consider an applicant. A judging panel is more likely to take a nomination seriously if it can see that other panels already have.
This means most companies underestimate how much groundwork happens before applying for the award they actually want. A reliable path looks less like a single application and more like a year-long (or multi-year) plan that builds from currently-eligible awards toward bigger recognition over time.
How do you build a 12-month award strategy?
A 12-month award strategy works by mapping out which awards you're eligible for right now, applying to those first to build a track record, and using that momentum to qualify for larger awards later. In practice, this means separating awards into two timeframes:
Awards to target now:
Programs you're currently eligible for, based on company size, revenue, location or industry
A mix of company-level and individual leadership-level awards
Free or low-cost programs that build a track record quickly
Awards to target later (years 2–5+):
Larger national or international awards that typically require existing recognition or scale
Programs with longer typical lead times or higher competition
Example: A financial services startup
An early-stage financial services company with a national client base but limited brand recognition might target:
Company-level now: Outstanding Customer Experience or Company of the Year (Stevie Awards), Best Consumer-Facing Payments Solution (Finovate Awards), Best Places to Work in FinTech (BuiltIn)
Leadership-level now: CEO of the Year (American Business Awards), CIO of the Year (Orbie Awards)
Later (years 3+): Inc. 5000, World's Most Admired Companies (Fortune), World's Best Banks (Forbes)
The logic: build third-party legitimacy and leadership visibility first, in categories realistically achievable now, then move toward higher-prestige recognition once there's a track record to point to.
Example: A solo travel founder
A Denver-based founder serving neurodivergent, LGBTQ+, and women-identifying travel clients, with minimal social media presence, might prioritize differently:
Now: Colorado LGBTQ Chamber Business Awards, DEI Awards (Denver Business Journal), Achievement in Diversity & Inclusion (Stevie Women in Business)
Later (3–5 years): Fast Company Queer 50, Best in Business – Travel & Hospitality (Inc. magazine), World Travel Awards
Here, the strategy centers on diversity, inclusion and customer experience categories that match the founder's core differentiators and audience, building credibility locally before pursuing national or international recognition.
How many awards is a company actually eligible for?
More than most leaders realize. Company-level awards are only one layer. Individual executives, and sometimes high-performing employees, are frequently eligible for separate recognition tied to their specific role: CEO, CFO, CMO, Controller, and similar leadership categories all have dedicated award programs.
A company that only pursues company-level awards is using a fraction of its available visibility. Each additional leader put forward for individual recognition adds another potential media moment, separate from the company's own wins.
FAQs
Do I need a large budget to start an award strategy?
No. Many local and regional business journal awards are free to enter, and some national award programs run free categories during specific submission windows. Hiring a nomination writer is an additional expense.
How long does it typically take to win a major industry award?
There's no fixed timeline, but most companies build toward larger awards over one to several years, starting with awards they're currently eligible for and building a track record from there.
Should I focus on company awards or individual leadership awards?
Both, when possible. Individual leaders are often eligible for separate award categories, and pursuing both multiplies total visibility rather than relying on a single company-level win.
What's the difference between a self-nominated award and one where someone else nominates you?
A self-nominated award is one a company or individual applies for directly. A peer-nominated award requires someone else, a client, colleague, or industry peer, to submit the nomination. Self-nomination is the norm, not the exception, and most companies that win awards regularly are actively nominating themselves rather than waiting to be discovered.
Does winning a local award help with AI search visibility?
It can. Local award coverage often includes a backlink to a company's website and local press mentions, both of which contribute to the kind of third-party validation AI search tools weigh when deciding what to cite.
Next steps
Choosing the right awards is a strategic decision, not a guessing game. A clear 12-month plan, built around your specific business goals, current eligibility, and the people on your team worth putting forward, produces more reliable results than applying for whichever award happens to come up.
If you're not sure where your current award strategy stands or whether your existing wins are actually generating visibility, take the free Award AI Visibility Scorecard to get a personalized breakdown.
Written by Alison Meyer, Principal Communication Strategist at Indigo Communications. Alison has spent her career helping brands and leaders get noticed through strategic award positioning and reputation building.
