Why vehicle wraps are the most cost effective marketing.
When it comes to marketing, every one’s goal is to get the most views while spending the least amount of money. The more people you can get to see your product the more potential customers you will have. A term in the marketing world for cost for one thousand views is CPM. A good marketer always considers CPM while considering a budget. Cost effective marketing is always the goal. This is where Vehicle Wraps are in a league of their own.
We certainly would not say other forms of advertising are not worth doing. Facebook, radio, tv or paper ads are certainly effective and should be utilized as well. Here, we are simply talking about the comparison of the cost of vehicle wraps to other forms of advertisements.
So lets go over some numbers. According to WebFX.com, an average CPM for Facebook ads is $7.19. According to linchpinseo.com, radio ads CPM is about $12-$16. Lastly from statista.com, an average CPM for TV is $25-$36. This is where you see a drastic difference compared to vehicle wraps. According to the Outdoor Advertising Association of America, the CPM for a vehicle wrap is only $0.77...
How do vehicle wraps compare to other forms of advertising
So the CPM for vehicle wraps is 9 times better than Facebook ads, 15 times better than radio ads, and 32 times better than TV ads. It is the cheapest form of advertisement there is, and that’s why MovinAds always says “The Best Marketing On The Planet.”
The typical lifespan of our vehicle wraps is 4-7 years, but for the sake of this blog we will talk about the low end of 4 years. According to an US Department of Transportation the average person travels about 250 miles a week. A daily average for views of a vehicle wrap is about 30,000 to 70,000 per day. Taking the low end of 30,000 views per day that would be 43.8 million views in 4 years!
To get this same exposure with other advertisements here is the budget you would need:
Facebook Ads: $314,922
Radio Ads: $525,600
Tv Ads: $1,095,000
How long does it take to pay for itself?
A vehicle with graphics can produce these results spending anywhere between $200 to $4000. Depending on the margins of your business the ROI of vehicle graphics can be covered in days or weeks but in terms of CPM a $1000 vehicle wrap will pay for itself in just about 44 days! The best part is once its paid for… it keeps advertising for you! Unlike other ads where once you stop spending money, the ad stops, so does your exposure. Vehicle wraps keep advertising for you for years with no additional money spent.
In the world of marketing, vehicle graphics are a no brainier in terms of cost and effectiveness. While you should be advertising in different areas as well, you simply won’t be able to match the CPM of vehicle graphics with any other resource.