Media advertising product - Idea for selling

[Pudzer]

I've developed a media advertising product that displays adverts on very large screens. The adverts play continuously and can be updated/edited remotely via broadband connection.

I'm looking at shopping centres etc as the main areas for the screens. My problem is getting advertisers and the solution I've come up with is as follows.

I intend to rent out the hardware/software to marketing companies (or whoever), taking an upfront fee and a small percentage of their revenue (similar to franchise).

Is this logical, anyone have any previous experience.

Thanks

 

[Hibernication]

Media Advertising Product

Hi,

I went through the same process a year ago with a very similar problem. I had no expertise in the advertising area, and it is a very tricky area initially as sourcing proper advertising requires a respected knowledge of the industry.

The area you are involved is called Ambient Media, thus not a normal advertising medium i.e Print, Radio, TV etc. There are dozens of ambient media companies operating in Ireland, all with their own method of carrying the advertising message.

I entered into a joint venture with the company I felt was most similar to the area that I wanted to operate in. This alliance has saved me at least two years set up time, and the medium is now well established.

I suggest you check out www.medialive.ie and find your closest match and then approach them. Generally people involved in ambient media are quite approachable but can be a little protective due the large competition in the sector and relatively small pool of advertising agencies (people who rent out your space).

Hope this helps. If you need any more info drop me a mail.

Hibernication

 

[Ocras]

Re: Media Advertising Product

Consider absorbing the cost of allowing premium and reputable companies to advertise foc for a limited period with no catches. This will take time and cost, but their competitors may follow. Better than blank spaces "advertise here".

When approaching these people, have some good references indicating that you and your company are financially sound and if possible clarifying your employees integrity.

A major bank does not want a scandal of one of their "suppliers" being financially non-compliant.

I have sent you a PM on a major Irish Company who may be quite willing to "allow" you to advertise for them.

 

[Pudzer]

Re: Media Advertising Product

Tks folks, some good info there.

 

[extopia]

Re: Media Advertising Product

There are a couple of issues here: first you need to rent or own the "virtual billboard" space, then you need to sell space on the screens to advertisers.

Perhaps you should talk to one of the outdoor advertising companies re the former (even if your screens will be inside, it's the same general business area for these guys and they should be intrigued at worst, interested at best).

Secondly, you need to be talking to media buyers at ad agencies about selling the space. Again, you could be pointed in the right direction by the outdoor companies, but you could go directly yourself.

If you're looking for a partner, it would seem someone from the advertising industry would be the best bet -- and account executive or media buyer perhaps.

You'd be amazed at how helpful people in this industry can be, just arranging to meet someone for coffee could put you in the right direction. I'd be happy to introduce you to a couple of contacts if you like, leave me a message.

Good luck!

 

[sortmybooks]

hi pudzer

when you say the ad can be updated via broadband do you mean that a customer can buy space like for a year and make changes on say a monthly basis?

aileen

 

[Pudzer]

Once again guys, thanks for the feedback.

When I say that the information can be updated using broadband, I mean that new adverts can be uploaded by an administrator, monthly, weekly, or daily if required.

Currently, only an administrator would have control of that function as the content would have to be vetted before going live. For a customer who had rented space, this could be achieved by passing the media to the administrator via FTP or simlar means.

However, with a little modification, it would be possible to give an advertiser some administrative functions. The advertiser could have the ability to upload a new advert which would alert an administrator to validate its content and make it live.

Pudzer