The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Sell advertising to local retail stores

Eric10x10

New Contributor
Oct 18, 2015
18
11
19
Howdy y'all.

Hope everyone's doing well.

I currently own an email list of people interested in local discounts from the stores in their city of residence.

The list currently has 1000+ verified members who have voluntarily double-opted in to receive the exclusive discounts.

Starting next week, I will begin reaching out to the local stores in the area to gauge their level of interest.

I am not a big fan of making cold calls on the phone, so I will be walking into the stores most of the time.

The idea is to monetize the list through charging the businesses for sending their coupons to the members.

The primary targets will be (1) restaurants and (2) beauty salons.

The product is priced reasonably (approximately $300 of annual investment), and I do not expect a whole lot of price objections.

The biggest challenge, though, will be to reach the decision makers. Unfortunately, most of the retail stores in the space are run by employees (and managers) that are rarely given the authority to make purchase decisions. As a result, getting a hold of the DM's often turns into a cat-and-mouse game leading to lengthy aquisition cycles.

If you have experience breaking a similar product/service into a comparable market, please share any helpful tips or tricks that could come in handy in my case.

Thanks so much.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

whiz

Silver Contributor
Speedway Pass
Nov 29, 2017
194
652
267
28
New Jersey
I mean, you pretty much have your whole plan ready...

I would suggest leading with value though - don't ask for them to sign up right away

Offer 1 month free or something before you try to sign them for a year

This gives you the opportunity to really refine your service and make sure it works

Prove it to them (and yourself) at the same time

And if it works really well, then you can negotiate a high price when it's time to sign
 

minivanman

Platinum Contributor
Speedway Pass
Mar 16, 2017
1,378
3,441
764
50
DFW
I don't think next week would be the best time to start. I'd say wait until after the new year.
 
OP
OP
E

Eric10x10

New Contributor
Oct 18, 2015
18
11
19
I mean, you pretty much have your whole plan ready...

I would suggest leading with value though - don't ask for them to sign up right away

Offer 1 month free or something before you try to sign them for a year

This gives you the opportunity to really refine your service and make sure it works

Prove it to them (and yourself) at the same time

And if it works really well, then you can negotiate a high price when it's time to sign
The reason I have decided against offering a free trial is that realistically, the result they will see in a month will be nothing to brag about, and then getting them to sign up will be difficult.

People usually need to see new ads multiple times, getting familiar with new brands before they decide to interact with the coupons and take action.

As a result, I have decided to offer 6-month and 12-month packages, explaining that it does take a while for consumers to respond to their offers.

Does this make sense at all?
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.


New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom