The 2019 New Zealand Cricket Almanack hits the shelves later this month and it has highlighted the Otago pair as players to watch for the future.
It has been a lean period for the Volts. The province has not won any silverware since its victory in the 2012-13 domestic twenty20 tournament.
But Bacon and Smith offer hope for the future. The publication listed them as two of its three promising players.
Central Districts gloveman Dane Cleaver also got the nod, while Black Caps Trent Boult and Kane Williamson were named players of the year.
Bacon had limited first-class opportunities for Otago in 2017-18 but "he came of age this past season", editors Francis Payne and Ian Smith wrote.
The 26-year-old was the team's leading wicket-taker in the Plunket Shield. He netted 31 wickets at an average of 24.61, including a haul of six for 73 and four for 71 in the team's only win in the format.
It was his first five-wicket bag and also the first time he had picked up 10 wickets in a match.
Only Wellington seamer Hamish Bennett (32) and Black Caps legspinner Ish Sodhi (36) took more wickets during the campaign.
Bacon was also instrumental in one-day tournament. He took 16 wickets at an average of 26.37. His economy was on the high side at 6.10 runs per over, though.
Smith was one of the most improved players in the Otago camp and "has shown he can become a genuine all-rounder" with "some gritty batting".
"In the last three [first-class] games of the season he amassed 228 runs at 76, including a career best unbeaten 75 against Central Districts."
The 21-year-old is not the finished product but he has the skills and has also shown leadership in the group.
This will be a critical season for the young man as he looks to convert his potential into more success with the ball and more consistency with the bat.