ROI On Vehicle Wrap

Have you ever seen an advertisement on a car, truck, or van in your neighborhood? You’re clearly on the right track, whether your goal is to wrap your entire fleet or just one car. The use of vehicle wrap advertising to reach the intended audience has become popular as a dynamic and eye-catching marketing tactic.

In this article we will deep dive into key statistics related to vehicle wrap advertising and will uncover its effectiveness, Return of Investment (ROI), reach and cost consideration.

ROI on Vehicle Wrap

Key Insights:

  • More than 95% of the drivers are reached by media targeting vehicle drivers and passengers.
  • 30% buying decisions are made from the ads seen while driving or as a passenger.
  • A vehicle wrap advertising generates 30000-70000 impression daily and 400 to 600 impression per mile.
  • A single wrapped vehicle driving intercity can attract 12 million views per year.
  • Fleet vehicle wrap increases name recognition 1500% greater than any other form of advertising.
  • Dynamic billboards (Vehicle wrap) are 2.5 times more effective than static billboards.
  • As per 3M report vehicle wrap advertisement achieves 95% of message recall versus 19% static advertisement.
  • 92% small business owner agrees on vehicle wrapping is a more effective way of marketing than any other local advertisement form which incurs 34% growth in company revenue.
  • OneScreen.ai reports that in 2021, 80% of Americans made a purchase after viewing an out-of-home (OOH) advertisement.
  • According to a recent OneScreen.ai study, since the Covid-19 outbreak, 77% of Americans are more conscious of and appreciative of their environment. Furthermore, in an effort to overcome digital tiredness, 52% of respondents stated they are reestablishing their connection with nature and cutting back on their personal screen time. In comparison to pre-pandemic times, Americans are more likely to notice OOH advertising as a result of both phenomena.
  • PrefecTemp, Palm Beach, FL has increased the online search traffic by 10X within 3 days of wrapping the vehicle.
  • Absolute Airflow, CA has increased the revenue by 125% within a year’s time though vehicle wrapping of their fleet.
  • The cost per impression (CPM) is just 0.77$ which is dramatically lower than traditional methods like 30 second TV ad (17.78$ per CPM), Newspaper ad (22.95$ per CPM) and magazine ad (9.35$ per CPM).
  • According to 3M, OOH advertising—which includes car wrapping—produces nearly four times as many online activations per ad dollar as does TV, radio, and print.
  • The size, style, and design of the wrap, in addition to the type of vehicle, all influence the average cost of a wrap. The price range for a complete wrap with custom design, printing, and expert installation is:
    • $2,300 to $2,850 for a sedan or coupe
    • $3,250 to $3,400 for a typical pickup truck
    • $2,650 to $4,500 for vans of various sizes
    • Box trucks and trailers are among the larger vehicles, with prices ranging from $8.50 to $11.00 per square foot.
  • Partial vehicle wraps, which can be purchased for as little as $1,300 on average, offer an even more affordable entry point into vehicle advertising.
  • Vehicle wrap can last for 5-7 years if professionally wrapped, cleaned and maintained which can lower the CPM up to 0.58$. Businesses also use ultra-removable wraps for short term promotional activity which has 0.65$ if it is used for a span of 1-2 years.
  • When it comes to advertising outlets, car wrapping is the most economical option for companies looking to raise brand exposure.

Evaluating the ROI of Vehicle Wraps

  • Visibility and Exposure: This mobile form of advertisement can be highly visible as the vehicle travels through different routes and the areas visited. Consider the target audience the wrapped vehicle is mostly seen.
  • Branding and Recognition: A well designed and eye-catching vehicle wrap can contribute to the increase in brand visibility and recognition. It works like a moving bill board potentially reaching to a board audience.
  • Geographic Targeting: This can allow targeted marketing in specific geographic location. This is beneficial for local business looking for customers in their immediate vicinity.
  • Measurable Metrices: Once vehicle wrap is implemented, measure its effectiveness through website visitor tracking, phone enquires and promotional codes application. Also implement GPS tracking on the vehicle to map the measure data the routes travelled.
  • Professional Design: A professional and visually attractive design can capture attention and leave a lasting impression. Ensure key brand element, messaging and contact information is easily visible and readable.
  • Longevity and Durability: Professionally wrapped vehicle can last up to 5 years which can justify the one-time investment for advertisement.
  • Customer Feedback: Collect feedback from customers or potential customers who have seen the wrapped vehicle. This can provide insights into impact and effectiveness of the advertisement.

Also Read

VEHICLE WRAPS FOR MARKETING AND BUSINESS BENEFITS

Industry Trend:

  • The vehicle wrap advertisement is potentially in US market due to 92.8% American family have at least one vehicle and an American spends an average of 300 hours on road per year.
  • Individuals can earn up to 450$ by agreeing to have their private vehicles wrapped with brand advertisement and to quality this the driver must drive minimum required miles per week, own a recent model vehicle in good condition and live in a major city.
  • US automotive wrapped industry is expected to reach $4.32 Billion by 2028 due to growing trends of mobile advertisement.
  • North America represents 39% of Global Automotive Wrap.
  • Vehicle Wrap advertisement is quick to implement. Depending on the size and shape of the vehicle, the wrap can be done in 1-7 days.

Keep in mind that the effectiveness of the vehicle wraps can vary based on the nature of the business, the design quality, the frequency of the vehicle use and the geographic distribution of the target audience. Regularly assess the performance of the vehicle wraps and make adjustments as needed to maximize their impact.