Is it worth participating in awards?
Marketing
Posted 08 May 2024
Within various sectors, it is a common practice to take part in awards in order to gain recognition and prestige. But while some see participation as an essential step on the road to success, others question the effectiveness and viability of such endeavours. In particular, the prestigious Cannes Lions Festival – the International Festival of Creativity – and the associated awards raise the question: Is it worth participating in such events and competing for the associated awards?
The Cannes Lions Festival, known as the world’s largest festival for creativity, advertising, and communication, attracts the best in the industry from around the world every year. It is a platform that brings together creatives, brands, and agencies to celebrate the most outstanding achievements in a wide range of categories. From 17 – 21 June 2024, people from all over the world will come together at the festival to see history evolving. Each award ceremony will set new global benchmarks for creativity in 30 award categories, from cinematic storytelling to creative business transformation. Winning a Lion is a career-defining achievement that opens up the opportunity to share outstanding work with the world and receive well-deserved recognition from international peers. The coveted Cannes Lions Awards are therefore recognised as the ultimate benchmark for excellence in the advertising world.
But back to the question: What are the advantages of taking part in relevant awards? The answer is more complex than it might seem at first. Here are some thoughts:
Winning prestigious awards – such as the Cannes Lions – can undoubtedly boost the reputation of a brand, an agency or even an individual application. Winning a Cannes Lion is considered an accolade in the advertising world and can open doors and new business opportunities.
In this case, events like the Cannes Lions Festival are not only a stage for creativity, but also a hotspot for networking and the exchange of ideas. Attending such events and especially the awards offers the opportunity to network with top industry leaders, potential clients and inspiring personalities, which can be invaluable in the long term. At the same time, existing relationships can be deepened or expanded.
It’s no secret that entering awards requires time, money, and resources. From campaign development and submission to travel and entry costs, the process can be financially draining. Therefore, it is important to weigh up whether the potential benefits justify the investment (cost-benefit principle) and whether the costly focus fits into the yearly budget planning.
Preparing for events as well as entering awards such as Cannes Lions often requires the highest level of creativity and innovation. Even if a submission doesn’t win, the process and participation and presence can help encourage creative thinking and develop new ideas that can pay off in the long term. In addition, as already mentioned, not only creative growth but also the growth of new contacts is inspired and encouraged.
In conclusion, entering awards is a complex decision that depends on a number of factors. For some it may be a profitable investment, while for others it may make more sense to spend their resources elsewhere. At the end of the day, it’s all about choosing wisely and weighing up your goals and priorities carefully. And who knows, maybe the next award win is already within reach!
HBI Communication Helga Bailey GmbH is part of the Cannes Lions International Festival of Creativity 2024 this year from 17 – 21 June, in partnership with the Worldcom Group. We are already looking forward to networking with other international participants and gaining exciting insights into the event. Find out more on our LinkedIn, Instagram and X-Account.
Junior Communication Consultant at HBI Communication Helga Bailey GmbH
Elena Sauter has been supporting HBI in the areas of PR and marketing since 2022. As a Junior Communication Consultant, her responsibilities include the creation of professional articles & the conceptualization of social media postings. Furthermore, Elena is involved in directly assisting our client work.
