Hi everyone, as you I venture in the advertising industry, building my first billboard on February.I will like your advice on the following issue:
I’ m having trouble renting my ad space, if I grade my billboard from 1-4 (4 being the best), I would say mine is a 3. Not premium but much better than most located in a highly commercial area.
My approach has been direct email marketing to company’s marketing managers and reaching by phone the clients that are already on other billboards. The company’s aren’t that responsive and the media agencies are even worst.
I have an initial monthly price, and talking to other competitors they quickly dropped prices according to the contracts duration. But I’m really concerned of the market dynamics, when I reach a potential client they submit the proposal immediately to their media agency and then communication is dropped. Since I’m trying to nail a contract I give a good price for semester of annual rents. I’m very specific that the price are for the direct clients.
I’m starting to think the media agencies don’t care much about other good billboards or location, their only interest is to secure the commission with already establish conditions with other outdoor media companies.
At least for this year is survival operation, but is shrinking my expansion vision.
What is that I’m not seeing, any advice will really be appreciated?