Recent happenings here have spurred me to consider the above question anew. Indeed, our firm was recently informed that a site we designed won an award from the Greater San Antonio Builders Association: the 2008 Summit Award for Best Website for a Builder.
Strictly speaking, this type of award is a low-risk proposition for Digett. We didn't have to make a formal submission—which means we didn't have to prepare entries, pay a hefty submission fee, and spend time and money attending a banquet just to see if we won. The award wasn't even given by our industry.
Many awards competitions, however, require that type of investment and offer no promise of return; you just can't guarantee a win will directly drive new clients to your door. Still, before you spend your money and time elsewhere, consider what these competitions may offer: