Through a unique program originally conceived of by Procur, One of America’s larger cell phone providers was able to capture market share and offset cash obligations for a national billboard campaign.
The cell phone service provider was an existing billboard user throughout the entire United States. Normally, once a client is working with suppliers it is difficult to take an existing relationship and renegotiate that into a Procur inventory credit contract.
Being that the cell phone service provider was enjoying substantial growth, the Procur team created a program in which the billboard companies would be guaranteed their current annual advertising revenue values and the contracts which Procur would provide would be for an amount over and above the prior advertising amounts.
Procur negotiated with numerous billboard companies in order to educate each billboard company as to both the benefit of the new program and exactly how the program would beneficially impact their company. Substantial efforts were made in order to guarantee the current income levels to the billboard companies while at the same time allowing for Procur program to be implemented.
Procur provided millions of dollars of billboard space to the cell phone provider and in exchange for cell phone services offset four million dollars in cash expenditures.
The dual advantage of this program was, in addition to the cash savings, the cell phone inventory provided to Procur by the client was restricted to new clients that were using the client’s competition for cell phone service, thus providing an increase in market share.
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24% average Client Cash reduction. 78% success rate on expense reduction within spend categories.
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