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Considering incorporating billboards into our marketing plan for new locations.
We typically use customer surveys to determine what percentage of our customers shop in our stores as a result of various advertising methods and other reasons. Based on these surveys, we estimate the return on each method of advertising (including outdoor advertising like billboards) based on the average profit per customer and the percentage of customers reporting that their visit resulted from a particular advertising method. There is a simple example of this for car dealerships on the SlideShare link.