I have this idea to launch an advertising agency that specializes in a certain kind of advertising, what should I do?
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I have this idea to launch an advertising agency that specializes in a certain kind of advertising (for example to advertise in elevators - this is not my real placement). My problem is that my 'elevators' have very low foot traffic, about 10 people per day. Even if I charge 10 cents per 'impression', that's only $1 a day, and when I split that revenue with the elevator land lord, it's about 50cents a day or $15 a month - I don't think they will be impressed with this value. Also, I have to approach like 100 elevator landlords to have decent exposure figures to approach a company and sell advertising and I don't feel like approaching 100 elevator landlords BEFORE I know they want this kind of advertising. I really want to do this idea because it makes a lot of sense but I don't know what to do. The money seems low, and the 'elevators' are much fragmented. What should I do? (Remember, the elevators is not my real placement, the real placement has nothing to do with elevators at all, it's just an example)
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Answer:
Find elevators that only super highly qualified prospects ride. And make really compelling offers in your advertising. For example, if you could reach only 10 people per day. But they were starving. And you could offer to bring them food. That could still be a very good deal.
Tim Dawes at Quora Visit the source
Other answers
The problem with trying to sell advertising in your 'elevator' is that if it only gets about 10 impressions a day, no advertiser is going to want to spend their money on it. They wouldn't be doing their job well if they did (their job being getting the most impressions for their money).
Christopher Scott
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