Product of the Year follows three easy steps:
Step 1: Enter Your Product
Entries for the 2014 Awards are open on April 23, 2013. Eligible products must be launched since January of 2012 and demonstrate innovation.
Remember, innovation does not mean it has to be revolutionary – just as long as the product demonstrates a feature that somehow makes consumers’ lives better or easier. We accept entries from products that demonstrate innovation in their function, design, packaging, or ingredients. This could be a completely new type of product or a useful innovation to an existing product or brand, such a new ingredient, redesigned shape or size, new formula (eg. less sugar) or new packaging (eg., user-friendly or “green”).
Please contact us directly if you have questions about your product: 212-213-0600.
Step 2: Press Preview
Once all products have been submitted, a Jury of distinguished industry professionals is invited to review the submitted products to ensure that the innovation criteria are met before they go on the consumer research.
Should your product advance to the next step, there is a finalist fee of $7,000 which pays for the costs of conducting the research. This fee pays for itself in the form of a detailed consumer research report by TNS received by all finalists, win or lose (an $80,000 value)
Step 3: Consumers Vote
In this step, 40,000 American shoppers representing the country’s population, decide which products are the best in their category.
We partner with leading global research firm TNS to conduct the largest consumer study on innovation in the U.S. TNS administers the study and puts together a detailed research report highlighting your category and general information on shopping trends and innovation. As a finalist, win or lose, you receive this report in exchange for participation.
Those brands whose products are voted Product of the Year, receive the rights to use the Product of the Year name, logo and reference the TNS survey in all marketing communications for a one-time winner fee of $63,000. This covers two full years of logo use in any media and Product of the Year works with winners to ensure all marketing claims pass legal requirements. This also covers inclusion in all POY-organized PR efforts valued at about $3Million in free media exposure.
Product of the Year winners typically see their sales increase by an average of 10%-15%.
Winners of the 2014 Product of the Year awards will be announced February in Times Square in New York City. The Awards Night is much more than an awards ceremony – it’s a celebration of innovation and ingenuity that attracts influential marketing and media executives from leading manufacturing companies, experts in packaging and design as well as industry media.
The Awards Night is a chance for the Marketing Directors and Brand Managers to receive their Product of the Year trophy in person and mingle with their counterparts and industry experts. All finalists and Press Preview members are invited. The admission is free and the drinks are on us.