On today’s hyper-competitive business landscape, the battle for customer loyalty is relentless. But unlike in years past, businesses that grow the fastest and enjoy the largest year-over-year profit surges aren’t necessarily large enterprises with deep pockets. More often than not these days, the biggest winners are small businesses that find the remarkably lucrative “big enough to serve you, small enough to care” sweet spot.
However, in order to leverage the advantages and reap the rewards, small businesses must carefully pick and choose their advertising mix — otherwise instead of taking the shortest path to ROI, they end up in an ever-deepening money pit. And that’s where vehicle wraps enter the picture and answer the bell.
Here are the key reasons why vehicle wraps are the perfect advertising investment for small businesses:
It wouldn’t matter how cost-effective vehicle wraps are (and we’ll get to that in a moment!) if they didn’t get the job done. Fortunately, they work remarkably well. According to the Outdoor Advertising Association of America:
- A single vehicle wrap can generate up to a 70,000 impressions a day.
- Vehicle wraps reach over 95% of people across the U.S., which is more than any other type of offline or online advertising.
- 56% of people believe that a business is “successful” when they see it featured in vehicle wrap advertising.
In addition, research by the American Trucking Associations found that 90% of drivers notice vehicle wraps, and that 30% of them will base a buying decision on this alone. And a study by the ad agency RYP & Becker Group found that 97% of people recalled vehicle wraps, 98% felt the advertising created a “positive image” of the advertiser, and 96% felt that the advertising had a greater impact on them vs. billboards.
Vehicle wraps are exceptionally affordable compared to other marketing and advertising strategies. For example, here is a comparison of various methods based on cost per thousand (CPM) impressions:
- 1/3rd black-and-white page ad in top 100 newspaper markets: $11.66 – $22.95 CPM
- Full-page color ad in top 25 magazine publications: $9.35 – $21.46 CPM
- 30-second prime-time spot in the top 100 TV markets: $17.78 – $20.54 CPM
- 60-second drive-time ad in the top 100 radio markets: $5.92 – $8.61 CPM
- Average for all forms of billboard ads: $1.78 – $3.56 CPM
- Vehicle wraps: $0.35 – $0.77 per CPM
The Bottom Line
Simply put: vehicle wraps work remarkably well and they’re extremely affordable — which means they’re the ideal advertising investment for small businesses that need to stand out, get attention and stay top-of-mind.
To learn more about putting vehicle wraps to work for YOUR small business, contact the Landmark Signs team today. Your consultation with us is free!