N abil El-Chemaytelly can appreciate:
the adage that innovative ideas
are often inspired by the mundane.
He came up with a novel concept during a routine
elevator ride, after noticing a small bulletin about plumbing services. “I realized that it’s
a great way to advertise,” says El-Chemaytelly.
“The elevator is something
people use at least twice a day.” Last January,
he resigned from Kodak Lebanon and established
Pin Point Marketing on an initial
investment of $250,000. El-Chemaytelly
owns 51 % of the company.
Pin Point Marketing places advertisements
in elevators, which calls for securing
networks of elevators, largely in residential
buildings. In return the company provides elevator
maintenance valued at $500 annually.
“We’re trying to build networks by region,”
says El-Chemaytelly. The five regions outlined
are highly populated West Beirut, East
Beirut, Dahie, Metn and Kesrouan. “In each
network our initial target is 1,000 buildings,”
he says. ‘That’s about 17,000 households, or
68,000 consumers.”
Phase one concluded three months ago,
with Pin Point securing 1 ,000-plus buildings
in West Beirut. Two billboards, 30X40cm, are
placed in every elevator. The company offers
one package: 1,000 buildings for one week at
$2,900, printing included. ”Clients are receptive
to the idea because the approach is
unique,” says El-Chemaytelly. Pin Point’s
clients include such big names as Americana
and Kettaneh. Clients can buy weekly reports
from Stat lpsos, which was hired to monitor
the system’s effectiveness.
El-Chemaytelly says that profits aren’t
expected for two years. The second network
is progressing, with over 200 buildings
secured in East Beirut, although 5,000 buildings
are required for the project to be feasible.
“For the last ten months we tested the concept,”
says EI-Chemaytelly. “Now we’re
working on building the company.” That
• called for bringing in investors to finance a
$450,000 expansion plan. ‘The investment is
needed to reach our breakeven point.”
Pin Point eventually plans to introduce
market-specific packages, to sell clients
buildings most suited to their target consumers.
EI-Chemaytelly anticipates copycats,
but says he’s prepared for that.
