Bartering with Billboards
What is bartering? Bartering is the exchange of goods and services between two or more parties without the use of money. I’m sure that you or someone that you know have bartered with another company before. Is it worth it? It really depends on the deal. If you have open spaces and really would like to have other company’s services, then it can be a win-win for both parties.
When not to barter with your billboards
• If your billboards are full or you have to guarantee a popular space for an extended period of time, bartering may not be beneficial for you in the long run.
• If you don’t feel you would use the product or service being bartered enough to make up for the cost of the billboard.
Potential products and services beneficial to billboard companies
• The best pick here is restaurants. Restaurants are already among the top businesses that utilize billboards in their marketing efforts, so offering a free one or a free slot on one of your digital billboards in exchange for free food can be a great deal. You can use the restaurant as your go-to place to take clients out to lunch or dinner. Or host meeting with your team where everyone can enjoy a quality meal amongst colleagues.
• If you have a fleet of company vehicles, a good choice may be an express car wash and oil change facility. Maintaining your vehicles and keeping them clean can be costly so being able to get that service in exchange for billboard time can work out well to your benefit.
Bartering with Advertising Services
Bartering has become a common aspect specially in the billboard industry as the media is kind of forced to sell their advertising space or time, otherwise, they will lose the opportunity forever. Because of this, many publishers and companies with those properties are really eager to accomplish exactly this, to trade the space that they are not using at the moment so they can get something more useful or more beneficial in return.