If you've seen vehicle wraps in you area advertising other local businesses, you may have wondered if it makes sense for your company. In fact, the Outdoor Advertising Association of America(OAAA) says that more than 95 percent of Americans are reached by media targeting vehicle drivers and passengers. Here's what you need to know.
A vehicle wrap is a digitally printed mobile billboard that is professionally installed on your vehicle. Wraps can encompass the entire vehicle or a portion of it, including the windows, and are printed in full color with eye-catching graphics. They are made from heavy-duty vinyl and typically last three to five years.
Vehicle advertising is good for any size business, and some small-business owners feel it legitimizes their company by getting their brand and logo out where potential customers can see them. When a smaller business uses vehicle wraps, it puts them on the same playing field as franchises and companies that are large enough to maintain vehicle fleets.
Any size vehicle can be wrapped, though the amount of coverage and the type of vehicle determine pricing. The average investment typically falls between $1,500 and $3,500. That includes the wrap material and professional installation.
The OAAA says that mobile advertising can be the most effective and efficient form of out of home advertising, reaching more consumers at a lower cost per thousand impressions than any other form of advertising. Studies agree and estimate that a wrap costs around 4 cents per thousand impressions, while other forms of advertising cost significantly more. For instance, it's estimated that outdoor signs cost $3.56 per thousand impressions and newspaper ads cost $19.70 for that number of impressions. Also, one wrapped vehicle will net between 30,000 and 80,000 impressions per day, depending on how far and where the car is driven. All in all, we estimate the cost to be less than $44 per million impressions.
We hear stories from customers on a daily basis about how their business increased after wrapping their vehicles. Some tell us that they gained new customers before they even got home with their newly wrapped car, while others literally took an order as soon as they left our offices. One of our customers tracks his job leads and says his sales shot up from $42,000 to $219,000 in 10 months due to his wrapped trucks.
There is no average return on investment (ROI) for vehicle wraps because it will depend on the type of company you have, where and when the vehicle is driven, and the effectiveness of the wrap design. But there are ways you can measure your return.