Vehicle wraps are one of the most effective forms of outdoor advertising and promotion. Vehicle wraps or mobile billboards are one of the last remaining areas of growth in traditional physical-medium advertising. It is considered a highly effective and also a very cost-effective medium, making the long-term return on investment (ROI) unbelievably high. It is also a high impact medium because it has the ability to gain thousands of impressions every day across a nation and has been shown to increase both brand strength and recall as well as significantly influence purchasing decisions.
Some people wonder if vehicle wrapping is as effective for smaller businesses as they are for larger ones with higher brand equity and a large fleet of vehicles already at their disposal. The answer, happily enough, is yes it is effective for any kind of business if designed right. Though it must be said that the objectives and expectations would naturally differ.
According to the Outdoor Advertising Association of America (OAAA), more than 95% of Americans are reached every year through vehicle wraps. The drivers and passengers on the roads are the primary targets of such campaigns. This is way more than the reach that other physical advertising media can ensure.
Why is the ROI high?
A major factor that plays a role in determining the effectiveness of the investments you are making on media campaigns is the Cost Per Thousand Impressions (referred to as CPM or CPI) which is the biggest sole determinant when it comes to determining the ROI of an advertising campaign.
A well-designed car wrap or a truck wrap with a clear and effective message can generate a staggering 30,000 to 70,000 impressions daily. Now imagine the overall life-cycle is 3 to 5 years. There is only a marginal incremental cost per impression, after the initial period which can be further reduced by optimizing routes and timings to remain in high traffic areas for as long as possible. On average, the costs tend to would work out to about USD 0.70-0.75 per thousand impressions which are far less than buying space in print media or a time slot in a TV channel or radio station. There are some other encouraging stats that you should know.
Almost 30% of buyers base their buying preferences mainly on what they see. So the higher the impression or the frequency of the media campaign, the better are the chances of influencing them! It has also been observed in various market studies that vehicle wraps boost brand recognition by more than 15 times.
Steps to ensure the highest ROI from your campaign
- Design the message well. Don’t clutter the space with too much information. After all, your targets only have about two to three seconds to view and memorize your message.
- The nature of the message would also depend on the quality of your brand. If you are not a nationwide established name, it would be prudent to focus on your brand. Your aim is brand recognition first through effective visual imagery. Cut out the visual noise. Keep it simple.
- Utilize the space on the body of the vehicle well. Use the sides, the back and even the cargo hold on the front top of the trucks. Add the right colour or message to attract the attention of the oncoming vehicles.
- Your copy should essentially have the following- brand name and image, the tagline, an easy to remember website (create a landing page on your website and use various analytical tools to measure the traffic) and a telephone number. Don’t use photographs until and unless you have to. Photographs often become the most dominating element in the visual presentation and the message may be lost to it.
High resale value
Another interesting statistic that should cheer up fleet owners is that a properly wrapped car or vehicle actually has a higher resale value because it protects the original paint of the car. Special care should also be taken to see that the surface is not damaged when removing or swapping your vehicle’s wrap.
Your car wrap or truck wrap can really help you to grab the attention of potential customers. It is a very powerful secondary media tool that should support your primary marketing strategy.