Tomorrow at 11 a.m. EST (9 a.m. PST) I will be holding an executive briefing on ePrize, the world’s largest interactive promotions company. Sign up now for this FREE webinar by clicking here. Join me as I speak with ePrize’s CEO Josh Linkner to uncover the secrets of ePrize’s success.
When you log on to a web site and punch in a code you found under a bottle cap, there is a good chance you are experiencing ePrize’s work firsthand. The company works with three quarters of the top 100 brands and has more than doubled in size in the last two years. Since its inception, ePrize has consistently produced about 40 percent annual revenue growth.
Linkner has created a uniquely innovative company and uses unorthodox methods to motivate employees. Linkner and his team also spend a lot of energy and dedication developing business strategy, and I’ve identified three clear-cut strategies that have helped ePrize reach true dominance.
1. Invite your competition onto your roof
Nothing consolidates a team and brushes away internal squabbles like the threat of a common enemy. Because ePrize’s next largest competitor is too small to raise its blood temperature, the company created a fake enemy named Slither Corp. to keep its employees on their toes.
2. Seize the opportunity
Linkner started ePrize in 1999 when he saw a gap between traditional promotional companies and internet advertising.
The promotional industry is actually a relatively large part of many businesses’ marketing dollars, and those leading the industry at the time were making plenty of money. Fat and happy, those companies may have seen that promotions were heading toward the internet, but they were slow to jump on board.
3. Force a two-front battle
ePrize’s current market share is directly related to the foundation and creation of the company. They compete with traditional promotions companies, online marketing companies and traditional advertising agencies. But those competitors see ePrize as a technology company and choose not to compete on that level.
By being a combination of parts, ePrize created a whole that others cannot compete with. Traditional promotions companies cannot justify the technology investment ePrize has already made to produce highly sophisticated technology-enabled promotional campaigns. And technology marketing firms lack the experience to do promotions as efficiently and effectively as ePrize.
ePrize owns the interactive promotional market, but the management refuses to accept the status quo. Its aggressive approach to growth and new innovations makes ePrize an industry leader and an effective category killer. By using a playbook that consists of several tactics, including invite your competition onto your roof, seize the opportunity and force a two-front battle, ePrize outthinks it competition and scares off would-be opposition.
Ask yourself the questions below to see if you can use one or all of these strategies.
1. How can I find new ways to encourage my employees?
2. Do I see a gap in my industry's products or services?
3. How do I see our company? How do I see my competitors' companies? How do they view us?