$3,000 month selling ad spots

9 years ago

Maybe I'm off base, but if all of those people are down there anyway, why do the businesses need your advertising? They're already paying big bucks for property to put them right there as the beach is the draw. That's their advertising. Still, I get that certain businesses may want to stand apart from the rest, but when I'm on vacation I just see a place that sounds good and try it. I don't so much care about a coupon. Maybe that's just me though. The only way to find out is to try. Not trying to discourage you, just thinking aloud.

Maybe advertising events and places to spend money off of the beach, the stuff the locals know about, would be something that those places would pay you for.

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np2015

9 years ago

Originally Posted by umc

Maybe I'm off base, but if all of those people are down there anyway, why do the businesses need your advertising? They're already paying big bucks for property to put them right there as the beach is the draw. That's their advertising. Still, I get that certain businesses may want to stand apart from the rest, but when I'm on vacation I just see a place that sounds good and try it. I don't so much care about a coupon. Maybe that's just me though. The only way to find out is to try. Not trying to discourage you, just thinking aloud.

Maybe advertising events and places to spend money off of the beach, the stuff the locals know about, would be something that those places would pay you for.

Well even though they are down there they won't be aware of special offers etc they have so that's where the publication comes in. Everyone likes to save money right?

Thanks
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gjabiz

9 years ago

I like Ron's MAP idea, a "Treasure Map of the Best Deals in Venice Beach"...

My advice is, help yourself by spending about 2-3 hours getting the prices of ALL of your advertising competitors. A walk down Washington and picking up all those free publications in the newspaper type holders, along with any existing ads, like place mats, or whatever...

Just so you are ARMED with information and competitive rates, then, consider the Coffee News payment style...

Anywhere from a 17 week to 34 week commitment, at the low weekly cost you are thinking of.

You could reach your goal, and maybe even double or triple it, IF you fully flesh it out and KNOW what the businesses are already buying and PAYING to get their share of the foot traffic.

I like it, good luck.

gjabiz

PS. Used to ride up to the boardwalk from Long Beach to meet friends and watch the "parade" of life go by. Fun place.

Originally Posted by np2015

Well even though they are down there they won't be aware of special offers etc they have so that's where the publication comes in. Everyone likes to save money right?

Thanks
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Ron Lafuddy

9 years ago

Originally Posted by gjabiz

I like Ron's MAP idea, a "Treasure Map of the Best Deals in Venice Beach"...

My advice is, help yourself by spending about 2-3 hours getting the prices of ALL of your advertising competitors. A walk down Washington and picking up all those free publications in the newspaper type holders, along with any existing ads, like place mats, or whatever...

Just so you are ARMED with information and competitive rates, then, consider the Coffee News payment style...

Anywhere from a 17 week to 34 week commitment, at the low weekly cost you are thinking of.

You could reach your goal, and maybe even double or triple it, IF you fully flesh it out and KNOW what the businesses are already buying and PAYING to get their share of the foot traffic.

I like it, good luck.

gjabiz

PS. Used to ride up to the boardwalk from Long Beach to meet friends and watch the "parade" of life go by. Fun place.

np2014, I wouldn't be too concerned with the "nationwide advertising".
You'll get a much better education, by following Gordon's "gjabiz" advice above. Collect as many of the local print ad pieces as you can.

The more knowledge you have about what's already out there, who is buying it and what they are paying...the more money You can make.

A romp through the local chamber of commerce and tourist bureau office, if there is one, should complete the effort. Now call and get the rates that are being charged for the various pieces..

And you'll learn from your investigation:

1. Who is buying local print advertising.
2. What they are paying.
3. Who is paying to be in more than one piece.

You'll want to pay special attention to the last one.

It's a step by step process. Miss a step and it can knock you out of the game.

Thanks
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Claude Whitacre 9 years ago

Well, I may as well share the biggest thing I ever learned about advertising, and selling advertising.

Learning how to produce a money making ad for a client (or for yourself) is the single most profitable thing you can do, to guarantee you are successful in selling ads.

A chapter in my book on Selling Local Advertising, is devoted to the subject. I've talked to highly successful advertising reps, and they all have this one thing that sets them apart from every other ad rep...they have taken the time to learn how to make ads pay.

I've bought hundreds of thousands of dollars in local advertising. So far, I haven't had one rep that knows anything about creating an ad that will bring buyers through the door. It simply never occurs to them, that they should know anything about advertising. I've always found that fact astounding.

I had to learn myself, over a period of a few years.

And...if you knew how to create ads that actually produced undeniable results...meaning paying buyers that are brought in after they see the ad....you would never have to worry about an advertiser dropping your ad. You'll never have to resell the client. Referrals will be flowing, and your client will see you as a trusted adviser.

Yes, even simple classified ads can be made far more effective.
Study a few of the classic advertising books;
Making Ads Pay and Tested Advertising Methods...both by John Caples will give you a solid start.

There you have it; See people that are already buying ads.
Learn how to advertise, and create a winning ad for your client.
Not brand building, cute, funny, witty ads...but direct marketing ads that bring in people ready to buy.

I speak from experience. I hope it helps.
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Ron Lafuddy

9 years ago

I believe your idea is good. And, if you can keep the advertisers on-board , it shouldn't be too much work after the first one.

I like maps for tourist areas.

If the map contains info about motels/hotels, amusement parks, city parks, public transportation, nearby beaches, tourist attractions, shopping centers, malls, theaters, as well as ads, tourists will use them and keep them.

If you do a map, make sure that it's available at airports, public transportation stations, grocery stores, malls, busy restaurants and tourist type stores, tourist attractions, chamber of commerce tourist bureaus and travel offices.

Distribution cost should be zero.

Thanks
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np2015

9 years ago

Originally Posted by Ron Lafuddy

I believe your idea is good. And, if you can keep the advertisers on-board , it shouldn't be too much work after the first one.

I like maps for tourist areas.

If the map contains info about motels/hotels, amusement parks, city parks, public transportation, nearby beaches, tourist attractions, shopping centers, malls, theaters, as well as ads, tourists will use them and keep them.

If you do a map, make sure that it's available at airports, public transportation stations, grocery stores, malls, busy restaurants and tourist type stores, tourist attractions, chamber of commerce tourist bureaus and travel offices.

Distribution cost should be zero.

I like that idea a lot thanks!

Thanks

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tryinhere

9 years ago

There might be 24 ad spots but why could not a business buy blocks of ad spots ? for example buy 4 ad spots and run a bigger ad ( a reducing tempter amount discount to to take more would help ) this would give you also less sales work to do. The $20 also seems low but you might pick up a beginner or something as it does not seem like a solid gig, for that low amount it would be quicker for you to hit the street and sell those spots in a day and pocket your own money.

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BobbyKige

9 years ago

I like the idea very much. Actually would like to see a sample ad as I may want to buy one for my tour firm back in Kenya. Yup, you heard me right from Kenya. At $20 that's pretty much a good deal. While on it since you will be doing online version you can have a way guys opt-in and probably you can sell solo ads to me in future. Good luck. The only way to find out is to act on it.

Thanks
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DABK 9 years ago

UMC,

When I travel, I like to look at things like this in the morning,when I'm planning my day. I know I want to visit X monument/attraction... But what's around it... Where will I have lunch? What do I do next? Come back to the hotel area or can
I stay there?
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Barry Unruh

9 years ago

Originally Posted by np2015

Cost to outsource selling ad space I'd pay a flat rate of $20 per ad spot sold $480.

That's the one item in your list that really shocked me.

I'm surprised you can find a decent salesperson in your area that is going to cold call (walk-in) to businesses to sell ad spots for a $20 one-time fee, with the knowledge you are going to be doing weekly distribution and earning weekly income from the ads. Plus having the knowledge their maximum lifetime income from the venture is $480.

If you intend to expand this to other areas around the city, you may want to consider going to a more profitable compensation plan for a sales person and keep 1 great sales person around.

What if you paid them $20/month for every ad that keeps running, let them try to build up your business to several different flyers being distributed in different areas of the city.

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np2015

9 years ago

Originally Posted by Barry Unruh

That's the one item in your list that really shocked me.

I'm surprised you can find a decent salesperson in your area that is going to cold call (walk-in) to businesses to sell ad spots for a $20 one-time fee, with the knowledge you are going to be doing weekly distribution and earning weekly income from the ads. Plus having the knowledge their maximum lifetime income from the venture is $480.

If you intend to expand this to other areas around the city, you may want to consider going to a more profitable compensation plan for a sales person and keep 1 great sales person around.

What if you paid them $20/month for every ad that keeps running, let them try to build up your business to several different flyers being distributed in different areas of the city.

Oh no they won't need to go anywhere. All an outsourcer need do is phone a list of businesses asking if they are interested in buying a weekly ad spot or not. If they want one then they are given the URL to the payment page and they email their ad image and they will be mailed a copy of the publication so they can see their ad. If not then they phone the next business. So $20 per ad spot sold is reasonable I think. I could hire someone in the Philippines to do this for a lot less but I'd prefer a US voice on the other end as the businesses they'll be contacting are all in the United States. In addition I could offer them extra on-going payments on top of the $20 payment, possibly a percentage of any CPA mobile ad revenue.

I think the biggest hurdle will be distribution. To be certain of a 10,000 circulation they really need to be handed out as placing them in malls, stores etc. will not guarantee 10,000 will be picked up each month. I want to be able to guarantee that circulation to advertisers and the only way is by hand outs. But then of course I would need to find someone trustworthy and reliable who would actually hand them out.

My plan is to use Craigslist to find someone looking for part time work and have them stand in a position that is monitored by a Venice Beach webcam so I can check up on them at any time throughout the day - and they will be made aware they are being monitored.

As for a map I think that's great. I believe there are sites that will allow you to download a map and print it out as long as you keep the logo. Alternatively I could print out a map down to street level and hire someone to create a graphic version of that map.

Thanks
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gjabiz

9 years ago

NOPE. I take it back. IF you really believe you are going to sell advertising by calling businesses on the phone and ask if they want an ad in an untested, unproven vehicle...all I can say is

Good luck.

Let us know how it goes.

gjabiz

Originally Posted by np2015

Oh no they won't need to go anywhere. All an outsourcer need do is phone a list of businesses asking if they are interested in buying a weekly ad spot or not. If they want one then they are given the URL to the payment page and they email their ad image and they will be mailed a copy of the publication so they can see their ad. If not then they phone the next business. So $20 per ad spot sold is reasonable I think. I could hire someone in the Philippines to do this for a lot less but I'd prefer a US voice on the other end as the businesses they'll be contacting are all in the United States. In addition I could offer them extra on-going payments on top of the $20 payment, possibly a percentage of any CPA mobile ad revenue.

I think the biggest hurdle will be distribution. To be certain of a 10,000 circulation they really need to be handed out as placing them in malls, stores etc. will not guarantee 10,000 will be picked up each month. I want to be able to guarantee that circulation to advertisers and the only way is by hand outs. But then of course I would need to find someone trustworthy and reliable who would actually hand them out.

My plan is to use Craigslist to find someone looking for part time work and have them stand in a position that is monitored by a Venice Beach webcam so I can check up on them at any time throughout the day - and they will be made aware they are being monitored.

As for a map I think that's great. I believe there are sites that will allow you to download a map and print it out as long as you keep the logo. Alternatively I could print out a map down to street level and hire someone to create a graphic version of that map.

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dave147

9 years ago

Yeah it's a good idea...good to have the booklet perceived as a tourist info guide
with maps and local events and attractions with the advertising deals in there too.

Not just as a deals and discounts advertising booklet...it needs some tourist value
if you expect people to hold onto it and use it...the more they use it the more
value you bring to the tourist and the advertisers.

You should also expect to pay more than $20 if you are relying on other people
to sell the spots for you.

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np2015

9 years ago

NOPE. I take it back. IF you really believe you are going to sell advertising by calling businesses on the phone and ask if they want an ad in an untested, unproven vehicle...all I can say is

Good luck.

Let us know how it goes.

gjabiz

There are people with no sales experience that sell ad spots over the phone with giant postcards and I think this is a better model, so I don't think it would be too hard for a professional sales person to do.

I think I may be undercharging pricing display ads at $35/week. I see here that a 2x2 display ad in a publication with a circulation of only 2,419 costs $89 for one week.

Leeds News Weekly Newspaper 2x2 Display Ad in Leeds, Alabama

And here's an ad costing $149 for just one day in a publication with a circulation of 12,000

http://www.nationwideadvertising.com/unsunjo.html

I definitely need to rethink the ad pricing, OR keep it at $35 week which would make it very appealing for advertisers thereby making it very easy to sell ad spots.

Selling half page and full page ads too would increase revenue. So maybe having the map on one page showing the smaller ads with arrows pointing to their location (or numbers), then another page listing various attractions and a calendar of local events etc. and other content with space for half/full page ads from bigger businesses might be the best way to maximize revenue.

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Kay King

9 years ago

I think you are over imagining and under planning. Do you have any idea how many calls businesses in tourist areas receive that are "selling ads?"

they really need to be handed out as placing them in malls, stores etc. will not guarantee 10,000 will be picked up each month.

In the tourist area where I lived for a while - "handing out" ads could get you a big fine as flyers handed to people walking by ended up dropped as litter and they had contact phone #s on them. Have you checked "solicitation laws" in that area?

However, when I travel to a new area I often pick up flyers at the motel/hotel or restaurants and attractions I visit. It's one way to learn what IS available in the area and coupons are always welcome. The key is getting local businesses to allow you to display your flyer on their premises.

I think at this point you have to test your theories. You can make money on paper all day long - but until you put your plan into action you won't know if it will work or be profitable.

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np2015

9 years ago

Originally Posted by Kay King

I think you are over imagining and under planning. Do you have any idea how many calls businesses in tourist areas receive that are "selling ads?"

In the tourist area where I lived for a while - "handing out" ads could get you a big fine as flyers handed to people walking by ended up dropped as litter and they had contact phone #s on them. Have you checked "solicitation laws" in that area?

However, when I travel to a new area I often pick up flyers at the motel/hotel or restaurants and attractions I visit. It's one way to learn what IS available in the area and coupons are always welcome. The key is getting local businesses to allow you to display your flyer on their premises.

I think at this point you have to test your theories. You can make money on paper all day long - but until you put your plan into action you won't know if it will work or be profitable.

That's the most ridiculous thing I have ever read. It's not my responsiblity if people drop litter. If hand outs could get you fined then it would be illegal for flyers to be placed in hotels and anywhere else as people could easily drop those just as easily as someone could drop a flyer handed to them.

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Claude Whitacre

9 years ago

Originally Posted by np2015

Costs

No design cost as I can do that myself apart from the logo/header which I'll get done for $5 on Fiverr. There are some amazing designers I've used in the past.
Cost to outsource selling ad space I'd pay a flat rate of $20 per ad spot sold $480.
Distribution cost $50 week ($200 month)
Cost to print 10,000 copies approx $350

Monthly recurring revenue assuming all 24 ad spots filled $3,360
Printing/outsourcing ads spots/distribution cost $1,030
Monthly profit $2,330

Since the $480 outsourcing cost or Facebook advertising cost to fill ad spots is a one time thing subsequent months would be approaching $3,000 profit.

My guess is that you have never done this.

You are going to pay $20 to sell an ad that sells for (the month) $140? Good luck.

You assume that none of the ads need to be resold every month. If you have ever sold advertising, you would know that most ads need to be resold every month. You could sell an annual contract I suppose, but your cancellations will be high.

You are expecting to pay $200 to hand out 10,000 flyers? That's 2 cents a flier. Maybe $2 an hour? It certainly sounds attractive. Are you going to supervise this person? Are you going to hand them out yourself?

Do you know what the odds are of someone actually handing out 10,000 fliers, if they are not supervised? About one in a hundred. The odds that someone will find about 9,995 fliers in a trash bin? About 95%.

Good luck on your first advertising venture. How do I know it's your first? Feminine intuition.

If you did everything yourself, sell and distribute....you would have a nice part time income.

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np2015

9 years ago

Originally Posted by Claude Whitacre

My guess is that you have never done this.

You are going to pay $20 to sell an ad that sells for (the month) $140? Good luck.

You assume that none of the ads need to be resold every month. If you have ever sold advertising, you would know that most ads need to be resold every month. You could sell an annual contract I suppose, but your cancellations will be high.

You are expecting to pay $200 to hand out 10,000 flyers? That's 2 cents a flier. Maybe $2 an hour? It certainly sounds attractive. Are you going to supervise this person? Are you going to hand them out yourself?

Do you know what the odds are of someone actually handing out 10,000 fliers, if they are not supervised? About one in a hundred.

Good luck on your first advertising venture. How do I know it's your first? Feminine intuition.

If you haven't anything useful to contribute then I suggest you keep out of the discussion.

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umc 9 years ago

Originally Posted by np2015

If you haven't anything useful to contribute then I suggest you keep out of the discussion.

You put it out on a public forum for discussion. If you can't take a little feedback, feedback that had numbers and experience tied to it, perhaps having any sort of business of your own isn't for you. You will get criticism. You CAN get fined in areas like Kay King referenced. The world, whether online forums or the beach, actually doesn't revolve around you and patting you on the back. Even some good feedback comes in the form of criticism, and Claude and Kay gave you some real things to think about whether you like it or not.

I do think you have a good idea as I think about it more through the lens of others. I don't vacation like most and wouldn't care about your publication whatsoever, but apparently I'm in the minority. I like to explore on my own, though the events section of your site might apply to me. I'm on vacation, so if I see a restaurant that sounds good I eat there, I'm not enticed whatsoever by coupons. Heck, I'm not enticed by coupons in my everyday life either, but I know that's often just me, so you've probably got something here. I like Ron's idea of the map a lot. You could maybe even add some aspect of fun to it. I've heard of people making a treasure hunt out of things like that, where people can look for this or that and it becomes somewhat interactive and people look forward to getting it to play.
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Claude Whitacre 9 years ago

Originally Posted by np2015

If you haven't anything useful to contribute then I suggest you keep out of the discussion.

I was actually trying to help.

My mistake. It's a fantastic idea. Everything you project is spot on. You will encounter no problems with any of it.

Your mistake is that, on the Offline Forum, there are actually people that have done, what you are proposing. Some here actually sell advertising, and know the real costs and management issues.

But...you came here for someone to pat you on your back, not explain the problems involved.

The problem with getting advice from successful business people, is that their input can be brutal to a new person's ego.

I gave it a shot.

The truth is, if you adjusted your costs, and learned the problems associated with a venture like this, I think it's a novel and attractive idea. But your projections are way way off, as you'll find out...on your first day of activity.

Added later; I reread my first post. I could have been a little nicer....especially to a new guy. But I've just seen this kind of fantasy cost/profit projection so many times here.
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gjabiz 9 years ago

Originally Posted by np2015

If you haven't anything useful to contribute then I suggest you keep out of the discussion.

np2015, You went from an idea, a workable one, which some of us have already done...to a person who wants to only hear the upside.

TRY it, today. Pick up the phone and call a dozen businesses and ask if they want to place an ad on your map. This could give you a quick understanding of what these professionals, guys with experience, are trying to tell you.

Your numbers aren't realistic, BUT, prove us wrong. Do it! It won't cost much, a little time, why wait, pull the trigger and execute the plan.

A map of the area would be easy to come by, layout is simple, have a fiverr do a mock-up or do one yourself.

LEARN.

But, be careful with your attitude toward people who are spending their TIME to try to help you out.

Sometimes, those whom the OP 'feel' are being negative and have nothing to contribute, are offering some of the best advice you are going to get.

I KNOW this type of thing can be done, but, I'm willing to bet you won't be able to do it, wanna bet?

gjabiz
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Wi11iam

9 years ago

Originally Posted by np2015

If you haven't anything useful to contribute then I suggest you keep out of the discussion.

Claude had a good point about trusting your distributor to hand out flyers. I just got done doing a flyer campaign and I would like to have trusted that my "guy" handed out all the flyers. In reality, however, my gut tells me that he tossed them in the trash. I say that because none of my customers said they saw any results with my services. If you do hire someone to hand out the flyers, I recommend finding someone who can provide you with references about the quality of their work.

-William

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Claude Whitacre

9 years ago

Originally Posted by Wi11iam

Claude had a good point about trusting your distributor to hand out flyers. I just got done doing a flyer campaign and I would like to have trusted that my "guy" handed out all the flyers. In reality, however, my gut tells me that he tossed them in the trash. I say that because none of my customers said they saw any results with my services. If you do hire someone to hand out the flyers, I recommend finding someone who can provide you with references about the quality of their work.

-William

It's possible to still get no response. But you want to be sure it's because of the flier, not because nobody got it.
I hired a young man to put 300 fliers on the doors of homes. I gave him the streets and set him loose. He came back to the office 30 minutes later, telling me he passed them out. What he didn't know, was that I passed out that many fliers every day for a few months. It would take about 3 hours to go from home to home.

So, we got in the car, and we drove to where he said he posted them. Of course, none of the homes had the fliers on the doors. It was fun listening to him try to make up stories about how every homeowner must have taken them off the door already.

I wasn't even angry. People are what they are. Of course I paid him anyway.

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dave147

9 years ago

Originally Posted by Claude Whitacre

It's possible to still get no response. But you want to be sure it's because of the flier, not because nobody got it.
I hired a young man to put 300 fliers on the doors of homes. I gave him the streets and set him loose. He came back to the office 30 minutes later, telling me he passed them out. What he didn't know, was that I passed out that many fliers every day for a few months. It would take about 3 hours to go from home to home.

So, we got in the car, and we drove to where he said he posted them. Of course, none of the homes had the fliers on the doors. It was fun listening to him try to make up stories about how every homeowner must have taken them off the door already.

I wasn't even angry. People are what they are. Of course I paid him anyway.

Well that was generous of you that you paid him anyway but it sends him the wrong message - it does not teach him anything about responsibility, respect and integrity.
I would not have paid him, if fact I would have made him deliver another 300 before he got paid

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Claude Whitacre

9 years ago

Originally Posted by dave147

Well that was generous of you that you paid him anyway but it sends him the wrong message - it does not teach him anything about responsibility, respect and integrity.
I would not have paid him, if fact I would have made him deliver another 300 before he got paid

Dave;

I wasn't interested in sending him a message, or teaching him anything. I was interested in getting rid of him. It was his first day. I think I gave him $20 and sent him on his way.

Almost nobody is interested in learning responsibility. They are interested in getting paid.

And it wasn't generosity on my part. It was the fastest way to get him out of my life.

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gjabiz

9 years ago

Originally Posted by Claude Whitacre

Dave;

I wasn't interested in sending him a message, or teaching him anything. I was interested in getting rid of him. It was his first day. I think I gave him $20 and sent him on his way.

Almost nobody is interested in learning responsibility. They are interested in getting paid.

And it wasn't generosity on my part. It was the fastest way to get him out of my life.

Great ideas and threads on Qualifying Questions re: sales prospects, but working with people (associates, employees) also requires some vetting too.

Sometimes, the very best action to take, is get them out of your life.

gjabiz

PS. I feel this way about most would be customers too and approach my promotions from a viewpoint of getting rid of the headaches before they appear.

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dave147

9 years ago

Originally Posted by Claude Whitacre

Dave;

I wasn't interested in sending him a message, or teaching him anything. I was interested in getting rid of him. It was his first day. I think I gave him $20 and sent him on his way.

Almost nobody is interested in learning responsibility. They are interested in getting paid.

And it wasn't generosity on my part. It was the fastest way to get him out of my life.

oh I see he was one of those

In that situation you did very well to get rid of him.
Yes the reliable ones are few and far between.

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Ron Lafuddy 9 years ago

Originally Posted by Claude Whitacre

Good luck on your first advertising venture. How do I know it's your first? Feminine intuition.

Here we go, with that whole "transgender thing" again. Next you'll be wanting your own Subforum.

Where will it end?
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- dave147 9 years ago
  
  Originally Posted by Ron Lafuddy
  
  Here we go, with that whole "transgender thing" again. Next you'll be wanting your own Subforum.
  
  Where will it end?
  
  Stop
  
  Thanks
  
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Ron Lafuddy

9 years ago

One way to lay the map out is with the ads around the borders, like a Monopoly board
Each business is assigned a number in a small red circle. Biz location on the map is identified by the small red circle with the specific number. No arrows needed.

Now here's a thought for you. Start thinking about what you can put on the other side of your tourist map. Open your mind to the possibilities. You can literally explode the profits beyond anything you imagined, by focusing your efforts there.

Oh, and Good Luck! The opportunity is viable for anyone who decides to make a go of it

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dave147

9 years ago

I would not depend on people handing out flyers for you. What you could do is, each advertiser on board gets a batch to display on their premises while you hand in a few to the other remaining businesses in the area, while you're there you can hand out the remainder to the tourists. Job done!

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joe golfer

9 years ago

It's weird. It didn't phase me when you started rejecting solid advice. In the copywriting forum it happens every day, so I'm immune lol.

Anyway, like Claude said, it's better to try this for yourself first. I think your economics for hiring it out are off. Just do it yourself and see how it goes. Then come back here with your results, and get some more help. I think you'll be enlightened. As Brian Tracy says, the real world has a way of correcting our assumptions.

Before you move forward, though, I'd check with Venice to see if and where you can hand out flyers. They changed the rules in 2012 for vendor and promoters. It's more strict now, and LAPD loves to enforce the rules down there.

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DaniMc

9 years ago

The most valuable feedback you can get is when people challenge your assumptions. These are the problems that need solving. Success in business is ALL about finding problems and solving them.

No doubt, there are people making lots of money selling ads and flyers. So, there is a way.

You rejected the most valuable feedback you received.

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Claude Whitacre

9 years ago

Originally Posted by DaniMc

The most valuable feedback you can get is when people challenge your assumptions. These are the problems that need solving. Success in business is ALL about finding problems and solving them.

No doubt, there are people making lots of money selling ads and flyers. So, there is a way.

You rejected the most valuable feedback you received.

To the OP.

We have all had an idea that we fell in love with.

Sometimes these ideas are truly great, sometimes they are not. But on a forum like this, there are usually at least a few people that have already made the mistakes, spent the money foolishly, and learned from it.

Your figure are the absolute most optimistic that can be, with no thought of any road bumps along the way. But, a business is mainly road bumps. Otherwise, everyone would own a successful business.

Like others have suggested, do everything yourself, at first. Sell the ads, hand out the fliers. Then, if you hire people, you'll know what to expect.

You underestimate how hard it is to sell advertising. And you underestimate how quickly someone can hand out fliers. I've done both, as several here have.

Because of your background, you think that laying out the ads is the hard part. But selling the ads, every month, and getting paid is the vast majority of the work. And paying someone to hand out fliers to strangers for a few hours a day, for $7.14 a day.....is a fantasy.

Your idea is workable, just not nearly as easy as you think.

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Ron Lafuddy

9 years ago

Too bad this thread went off track. There are some good, profitable ideas posted
here. Use what you can.

There's a lot more potential in a project like this, than the OP has discussed.

For instance, if you could sell the back of the map out for $10,000 to $15,000 would you care what the advertisers on the front paid?
Maybe not as much, eh?

But, you'll never get to that potential, if you don't get the first one done.

If I were starting a project like this, without much experience, I'd hire one of the folks who have asked good questions and posted good advice in this thread.

They'd help me get it Started AND Get It Done.

I wouldn't screw around.

Pay them from the money you collect from ad sales.

You'll get it done, faster and cheaper with their help - than without it.

I learned that lesson the hard way! Don't make my mistake.

Ron's Disclaimer: My advice is posted and it's free, so don't PM me. I'll delete it.
And NO, I won't write your next WSO. Figure it out your own damn-self.

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Claude Whitacre

9 years ago

Well, our new friend has left.

And, as someone else has said, running a business probably isn't for him.

It reminds me of a fighter, getting in the ring, having no idea what boxing is....
The first time he gets punched, he yells at the referee, "He hit me! He assaulted me! I didn't agree to this!".

I was talking to a group of reps. I asked, "Does it ever feel to you like you take ten steps forward and nine steps back?" Lots of hands went up.

Claude The Merciless said, "That's what business is. It's always going to be nine steps back for every ten steps forward. If you can take it, and learn to make money from that, you succeed. If you can't take it, you work for someone who can".

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dave147

9 years ago

Originally Posted by Claude Whitacre

Well, our new friend has left.

Maybe he hasn't left, maybe he's out doing it like he said he would

and will come back and post an update! Maybe

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np2014

Banned 9 years ago

No I haven't left. I'm using a new username as I forgot my password and I used a temporary email address so I'm not able to retrieve it.

I've decided to scrap the idea of hiring someone to hand out copies with the problems that entails (local laws, finding someone trustworthy etc.)

From the Nationwide advertising site I see there are many publications with circulations of under 5,000 so I wonder if a free monthly map/newspaper hybrid might be better and more profitable. Something similar to a Pennysaver size that can be picked up off the street like any other paper or in newspaper kiosks.

I could then sell display ads, classified ads, half page ads and full page ads. The map would go on the first page surrounded by numbered box display ads from local businesses (I like the monopoly layout idea). It wouldn't need to be a large publication, maybe 6 pages and the remaining pages filled with a calendar of local events, information on attractions and anything tourists and local residents would find interesting. With 6 larger pages the printing costs would obviously be higher but that would be more than covered by the sale of half/full page ad space.

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Claude Whitacre

9 years ago

Originally Posted by np2014

No I haven't left. I'm using a new username as I forgot my password and I used a temporary email address so I'm not able to retrieve it.

I've decided to scrap the idea of hiring someone to hand out copies with the problems that entails (local laws, finding someone trustworthy etc.)

From the Nationwide advertising site I see there are many publications with circulations of under 5,000 so I wonder if a free monthly map/newspaper hybrid might be better and more profitable. Something similar to a Pennysaver type of publication that can be picked up off the street like any other paper or in newspaper kiosks.

I could then sell display ads, classified ads, half page ads and full page ads. The map would go on the first page surrounded by numbered box display ads from local businesses (I like the monopoly layout idea). It wouldn't need to be a large publication, maybe 6 pages and the remaining pages filled with a calendar of local events, information on attractions and anything tourists and local residents would find interesting. With 6 larger pages the printing costs would obviously be higher but that would be more than covered by the sale of half/full page ad space.

Your original idea was inventive, I thought. Having a sheet of coupons passed out on the same street (or in the same area) as the restaurants with the coupons....would be pretty easy to sell, I think. Mostly because it sounds like a new idea.

The mistake is in the projections. You could do it locally, sell it to local merchants, and hire a helper to hand them out with you.

Even if this idea doesn't fit you, it's a good idea for others.

No matter how you sell advertising, the very best leads are the people already advertising. Every time you see an ad, or a coupon, that business has already proven they buy advertising. Those are your best prospects.

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kenmichaels

9 years ago

Originally Posted by Claude Whitacre

No matter how you sell advertising, the very best leads are the people already advertising. Every time you see an ad, or a coupon, that business has already proven they buy advertising. Those are your best prospects.

That is one of the strongest statements I have read here in a while.
The faster people figure that out, the faster they make real money.

People want to spend time sifting thru every aspect of information.
It's just not needed. If they pay for advertising, they are pre qualified.

They already get "it" (the concept), they already expect to pay for it (advertising)
AND they ALWAYS want more of it.

People who buy advertising act much the same as drug addicts ...
More ... more ... more and the ones who have had even ONE really
successful campaign will do and pay anything to make it happen again.

All you really have to do is ... is compare your product or service to any form
of advertising that they already understand and BOOM ... you're in like flynn.

Everything is advertising .... Once you get that idea across to them...
They will buy everything from/ through you.

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dave147

9 years ago

Originally Posted by Claude Whitacre

Your original idea was inventive, I thought. Having a sheet of coupons passed out on the same street (or in the same area) as the restaurants with the coupons....would be pretty easy to sell, I think. Mostly because it sounds like a new idea.

The mistake is in the projections. You could do it locally, sell it to local merchants, and hire a helper to hand them out with you.

Even if this idea doesn't fit you, it's a good idea for others.

No matter how you sell advertising, the very best leads are the people already advertising. Every time you see an ad, or a coupon, that business has already proven they buy advertising. Those are your best prospects.

Yes, those business owners who always advertise are the ones that understand they are really in the "Marketing Business" Those are the ones you should be looking for.

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np2014

Banned 9 years ago

@gjabiz,Barry Unruh,dave147,Claude Whitacre,joe golfer,kenmichaels,Ron Lafuddy

Learnt a lot from the comments, thanks!

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Ron Lafuddy 9 years ago

Well, good luck to you! Let us know how it turns out.
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dave147

9 years ago

@np2014
How's it going so far?

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dave147

8 years ago

Originally Posted by np2015

This is something I plan on doing in a few days but I'd like to get some feedback on this idea first to make sure I'm going about this the best way.

What I'm planning to do is to create my own simple 4 page "what's happening locally" type publication targeted specifically at tourists which will be monetized by selling "money off coupons/deals" ad spots to advertisers.

The publication will be distributed to a total of 10,000 people each month via hand outs (you'll see why in a second). The area I have in mind is Venice Beach, California as there is a considerable amount of foot traffic along the boardwalk and there are plenty of tourists. Where do tourists mainly spend money? Restaurants, shopping and sightseeing. As well as ads from Venice Beach restaurants, stores, attractions etc. the publication will include information such as what's on/local events, things to do, recommended shopping/attractions and a couple of crossword puzzles or anything else which will help to keep eyeballs on the publication.

2,500 will be handed out weekly which is an average of 357 a day so the circulation will be 10,000+ a month. This is NOT something that will be mass mailed to people's homes like those giant postcards. The people that they are handed to will all be within walking distance of every business that has bought an ad. So someone might see an ad for a coupon for a restaurant which is literally 50 yards away and decide to go there for lunch, and whilst they're doing a crossword they see an ad for 15% off at a clothing store which is just a short walk away. The 10,000 people that browse the publication are not at home miles away from the businesses with all the distractions of family life so the publication is soon forgotten about, every single reader is in the vicinity of the businesses at the very moment they receive it.

There will be a total of 24 ad spots priced at $35/week. I plan on designing the publication myself and outsourcing the selling of ad space to a sales professional off a freelance website or possibly advertising on Facebook/LinkedIn targeting businesses in Venice Beach offering them ad spots. The distribution will be outsourced to someone who lives there.

The URL of the publication's website will be displayed at the bottom of each page and all 24 advertisers will get free ads in the online version so long as they are are active advertisers and there will be information on how to advertise should anyone who is handed a copy want to advertise their business too should they have one. If an ad spot is unsold it will be filled with a mobile CPA offer so no space is wasted.

Costs

No design cost as I can do that myself apart from the logo/header which I'll get done for $5 on Fiverr. There are some amazing designers I've used in the past.
Cost to outsource selling ad space I'd pay a flat rate of $20 per ad spot sold $480.
Distribution cost $50 week ($200 month)
Cost to print 10,000 copies approx $350

Monthly recurring revenue assuming all 24 ad spots filled $3,360
Printing/outsourcing ads spots/distribution cost $1,030
Monthly profit $2,330

Since the $480 outsourcing cost or Facebook advertising cost to fill ad spots is a one time thing subsequent months would be approaching $3,000 profit.

I realise a local events publication isn't a new idea, but what is nowadays? Advertisers are always on the lookout for effective advertising. It can be scaled easily and will run virtually on autopilot once set up.

That's the basic outline, what do you think?

How's it going with the publication? Do you have any advertisers on board yet?
Give us a shout if you need any help with it.

Thanks

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$3,000 month selling ad spots

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