Digital Billboard Inventory - Using Empty Space to Your Advantage
In the past few months we’ve talked with independent operators about sales calls they’ve made on small, local advertisers. To no one’s surprise, many business owners have said they are holding tight to their surplus cash. If they do decide to invest that cash in advertising, it will have to be in a medium that has shown a proven return. Of course, because digital billboards are the new kid on the block, most local advertisers have yet to try us, and don’t have experience to fall back on. Instead of a roadblock, we view this as an opportunity.
We’ve seen a few new approaches that have started to relieve the fear of “wasting” advertising dollars. Using the occasional unsold slots on a digital billboard, operators have been able to convince first time advertisers of digital outdoor’s effectiveness and net new sales in the process. Here is the formula:
After meeting with the prospect and discussing their concern about the medium’s ability to deliver, make them a proposition. Ask if they are willing to try an experiment that will cost them nothing - but there will be a couple of caveats.
First, they must run a special price, promotion or deal that they are not currently advertising. It must be something worth the consumer’s time that will get them off the road and in the door.
Second, the advertiser must agree to some reasonable benchmark or result that constitutes a success. For example, “If you sell 10 percent more of this item that we are promoting, can we agree that constitutes a successful use of the medium?”
Finally, get them to agree that if the advertisement meets that level of success, they will sign up for a 12 week run (paid, of course).
So far this tactic has resulted in thousands of dollars in new revenue for independent operators and those who have done it tell us they plan on continuing the practice.
Small business owners feel that they cannot risk their hard earned money on advertising that doesn’t show a predictable return. Hopefully, a limited-risk test is a way to prove to them what digital outdoor advertising can do. And, it will help close new business without much up-front cost to you.
To learn more about selling digital billboard inventory, download our free white paper, 10 Strategies to Succeed with Digital Billboards.