In part one of our series on how to effectively use the display screens on your property, we covered what kind of content you should play. Today, we’re offering innovative ways to monetize your network.
So, how can you make money from your digital network in the first place? Besides increasing foot traffic and revenue through in-store sales, the most common way is to sell advertising. Just remember, you have a guaranteed captive audience at your fuel dispensers, and other companies will be willing to pay you to show your customers their ads.
That said, using the display screens in the forecourt to sell ads can be a little tricky—you do not want to push customers away from your property or accidentally feature ads that compete with products or services that you sell. It all comes down to one key strategy: sell to the right brands. There will be plenty of companies interested in buying your ads, but you want to make sure that you get the most “bang for your buck” for the time that you aren’t using. And make sure you do not compete with yourself.
Sell to a vertical on your property.
Many convenience stores also feature car washes or quick service restaurants on their property. These businesses offer products and services that are complementary to your store—even if you are not the owner—because you will likely see a benefit when they sell more. This means that selling ads to the companies already on your property increases your revenue both directly and indirectly. It also has the benefit of drawing more people to your property, thus increasing the likelihood that they will go inside your store to buy other products.
Sell to CPG companies.
Your CPG vendors offer incentives for your customers all the time. You are already choosing which of their promotions to publicize in your store with wobblers, shelf talkers and other forms of merchandising. If you are going to sell ads instead of just promoting your proprietary products, your CPG vendors are a great option. Again, it will bring more people into your store, and as an added bonus, it will make more off the CPG vendor rebate deal if you sell more of their products.
And, if you are looking to bring customers into the store with a great CPG promotion, you can double down by placing proprietary products next to the discounted products that are featured in the ad. Plus, bonus points are awarded if you can use proprietary products that have a high propensity to sell with the discounted products.
Some convenience stores prefer not to sell any ad time, and instead use all of their screen time on high quality content and their own promotional messaging. But, if you are going to monetize your screens through ad sales, make sure you are strategic, and take advantage of these tips to make the most of it.
Don’t forget to read part three of our series, where we discuss how to use your screens to tell your brand’s story.
