Billboard advertising isn’t always cheap, so you need to make sure you make it count. We all want to achieve the same directive: we want strategically located signs that generate revenue and bring in “green” new customers. That’s all well and good, but the real question is how do we do this? It is not as simple as picking the most heavily traveled places or paying for the most expensive slot. These strategies may seem intuitive, but they won’t necessarily pay off. You need to know your demographic.
Making these determinations can be as simple or as complex as you make it. There are, for instance, sophisticated location analysis tools available that include traffic pattern information, demographic and lifestyle data, and competitive analysis. You need to make sure you are asking the right question; questions specific to YOUR market. You need to do your due diligence as a FEC owner and operator. Choose neighborhoods that will target the ages, economic backgrounds of your target customer, and make sure there are enough people that the advertisement will reach while in that location to make it worth while.
In addition, you should look at neighborhood traffic generators, such as other retailers that draw people to the area, industrial or office parks, schools, colleges and hospital complexes. You’ll also want to look at both highway and foot traffic. Bad locations are ones that require more of an effort to establish a presence.
Staying ahead of the game in this regard will help your business grow should you decide, for instance, that you later want to open another location.
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