The OpenWater Blog

Data Analytics and Your Awards Program

Looking back to when I was an awards program manager, I was always looking for and analyzing data to learn more about my awards program. Data is a powerful tool because it enabled me and the rest of the team to make informed decisions and come up with strategies that elevated the awards program each year.

When I started managing my first awards program, I joined the project right when we were gearing up for the upcoming cycle. It would have been easy to just do what had been done in the past. And don’t get me wrong, there’s nothing wrong with sticking to how things have been done in the past. Entrants continue to take part in your awards program because they see the benefits and value of participation.

However, your awards program doesn’t operate within a vacuum. The context in which your awards program operates is always evolving. For example, the rise of social media has had a huge impact on marketing and advertising. As a result, awards programs in the marketing and advertising industries have evolved to include categories about social media.

Sifting through all the data and making sense of it all takes time and resources. It can be a daunting task. However, time and manpower spent on analyzing the data is definitely worth it because:

• It helps you make informed decisions for your future awards programs;
• It allows you to devise strategies that move your program forward;
• It enables you to benchmark for future awards programs;
• It helps determine if the most recent awards program is a success;
• And if the program is a success, it helps you determine its level of success.

By taking the time to analyze the data that we had and devise strategies based on our analysis, we saw an increase in entrants, entries, and revenue. It truly is worth it and you’ll be happy you did when you see the fruits of your labor.

Don’t have the time you need to analyze all your data? Click below to learn more about the OpenWater Executive Report.

Theresa Delgado

Theresa is our resident awards guru. She managed the Greeting Card Association's LOUIE Awards before joining us here at OpenWater. She brings first hand knowledge and experience in successfully managing and expanding awards programs.

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