Billboard Advertising and Return on Investment (ROI) for Brex
A colleague forwarded the interview below featuring Henrique Dubugras, CEO of Brex on how out of home was an integral part of their companies launch and success. Brex is a new credit card company rebuilding B2B financial products, starting with a corporate card for technology companies. Brex billboard campaign was approximately $300k. Brex grew from zero to a $1 billion in under two years, one of there major advertising campaigns was through billboards. This is an example of the power of out of home, and it's ROI.
Henrique: "We scaled faster than we thought we would. I think we did 2x what we thought we were going to do, so it scaled really, really fast. And I think if I wanted to talk a little bit about the things we did for that, was one, we went to where other people weren't going, and we went bold. So, one of the things that a lot of people know us for is the billboard campaign in San Francisco.We basically bought a shit ton of billboards and a lot of people recognized us from that.
And what people do whey they go by offline media, is that they want to buy one billboard. A lot of people are engineers, and they’re like ‘Oh, I’m going to buy one billboard and I’m going to try to measure that, and then I’m going to measure that and then I’m going to go and scale it up. They’re stuck in this mentality of you have to put in one dollar and get out three dollars. And I think what we did, is we took a little bit of a bold move and said we’re just going to buy all that we can. We actually go a really good discount. We paid $300,000 dollars for three months of a lot of billboards.
Interviewer: And I want you to pause there, because a lot of people don’t expect that. When you see billboards, you immediately think billboard outdoor advertisements are the most expensive channel advertisement a start up could use.
Henrique: Yeah, no; it’s not that expensive, especially if you buy a lot of them, it becomes cheaper. The thing about billboards is you have to buy a lot of them to work, because marketing is about repetition. Its about awareness and people hearing about you many times and it’s really hard to attribute, but a lot of times when we went to do outbound, we reached out to our customer, and we talked to them, they’re like “Oh, I saw your billboard already.” We had actually a higher response rate on outbound emails because we did this billboard campaign and that was super powerful.
Billboard photo courtesy of Brex:
We wish nothing but the best to Brex and hope they will continue to use out of home.
About Out of Home Creative: We are an outdoor advertising firm which designs billboards, digital campaigns, transit, and street furniture to any non-traditional out of home advertising. Based in Atlanta, Georgia we serve businesses, agencies, media buyers and out of home companies throughout North America. Melody Roberts is the Founder and CEO.