Billboard Insider admires the ability of Boston Omaha’s execs to write in clear, compelling english. Take this elegant 3 sentence paragraph in Boston Omaha’s 2022 10k explaining why Boston Omaha likes out of home:
We are attracted to the outdoor advertising market due to a number of factors, including high regulatory barriers to building new billboards in some states, growing demand, low maintenance capital expenditures for static billboards, low cost per impression for customers, and the potential opportunity to employ more capital in existing assets at reasonable returns in the form of perpetual easements and digital conversions. In addition, unlike other advertising industries, the internet has not had a material adverse impact on outdoor advertising revenues. The billboard industry’s three largest companies are estimated to account for more than 50% of the industry’s total revenues, and several industry sources and our experience suggest that there are a large number of other companies serving the remainder of the market, providing a potentially significant source of billboards which may be acquired in the future.
Kudos to Adam Peterson and Alex Buffet Rozek for the best out of home elevator pitch Billboard Insider has ever heard. Memorize it and use it with your bankers and investors.
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It is not surprising that Boston Omaha is very successful when their leadership can analyze their investments with that accuracy,
Dave – great article. Can you do a follow-up article about the elevator speech operators use to promote themselves when speaking with potential prospects?
For example, when Bill Durden (Durden Outdoor) meets someone and they ask what he does for a living, he answers, “I make people famous.” It’s the shortest elevator speech I’ve ever heard, but it always results in a longer conversation.
Do you think your readers would share their elevator pitches?
All the best,
Jim