Insider owns billboards in Indiana and Iowa. Last year, Pilot, a long-time advertiser, told Insider that it wasn’t going to renew its contract on one of Insider’s billboards in Iowa. Pilot was happy with the board but corporate elected to reallocate marketing dollars to another market. Lots of small operators put up a “Your Ad Here” message and a phone number and wait for phone calls but Insider wanted to be proactive to avoid a bill for two vinyl changes (1 for the Your Ad Here vinyl and 1 for the new client). Here’s the process Insider went through to find a new advertiser.
Day 1 – Drive off-ramps at exits within 10 miles of signs and identify 20 potential truck stop/gas stations, restaurants and hotels just off the exit. Stopped in and asked to speak with manager. If manager was in Insider gave the manager a ride sheet and business card and mentioned that the sign was going to be available. If the manager wasn’t in Insider asked for the manager’s business card and left a ride sheet and business card. Several of the fast food franchises had off-site managers. Insider used a site visit to learn the name of the franchisee.
Day 6 to 12 – Internet research to determine off-site owners of fast food chains. Sent out 6 letters to off-site managers mentioning that the sign would be available November 1 and enclosed a ride sheet.
Day 20 to 30 – Received responses and mailed out ad contract.
Day 31 – Final discussions with potential clients including restaurant chain which wanted sign for three years. Agreed to 1 free vinyl per year due to three year contract.
Day 45 – Restaurant chain’s marketing director looks at sign and signs contract. The lead was generated by a letter to a company which operates several franchises. When the counter help couldn’t tall me who the manager was Insider found out the company’s name by looking at a help wanted ad hanging inside the restaurant.
What did Insider learn from the sales process?
If you have a good sign, encourage people to see it. This was the best sign in the market and Insider encouraged advertisers to see what a great location it was. The sign helped close the sale.
The process takes time, especially if you are relying on mail or email. It took a couple weeks from my initial contact to hear back from the right people. Letters and emails get stuck in the inbox for a few days. Sometimes you have to address your letter “To Whom It May Concern” and it can take a while for it to get to the right person.
Don’t let the best become the enemy of the good. Insider settled on a super high quality tenant who wanted a multiyear contract. Insider might have received a few more dollars by going to someone else short term but wanted a great multi-year relationship.
There’s no substitute for feet on the ground. Being in the market allowed Insider to sell the sign faster by identifying potential businesses and by tracking down franchise owners.
