There are thousands of different ways to advertise a product. Some have been around for hundreds of years such as buying ad-space in a local newspaper. Others are much more recent inventions such as advertising online through services like Google AdWords. However, there is one choice you may have not considered at all. You could choose to advertise your business on your own vehicle.
This is not as novel of an idea as it may seem. Plenty of companies use this strategy to help get the word out about their products and services. However, it has its own downsides in addition to specific upsides. Below is an overview of several. Make sure to weigh them when making your decision.
PRO: It’s Cheap
One of the greatest benefits of purchasing and installing graphics for your vehicle that advertise your business is cost. This can be done through options such as installing a printed vinyl wrap on your vehicle. While there is some expense in contracting a company to create such an advertisement that can be placed on your car, truck or van, it is likely to be much cheaper than other options available to you.
Statistics suggest that small businesses spend between seven and eight percent of their revenue on advertising. When you’re a small company, that can certainly be a lot to spend. Options like radio and TV ads may not be feasible. However, an advertisement on your vehicle can be.
CON: It Limits You to a Local Audience
On the other hand, one downside is that vehicle advertising is rather limited in scope. It can only be seen by people who are within viewing distance of your car. Unless you implement vehicle advertising on a very wide scale with multiple vehicles in different cities, you are typically rather limited in who will see these ads. In most cases, that will be a local audience.
Since you have that limitation, you will not be able to launch a national campaign with a single vehicle. You will, however, be able to inform the local community of your existence especially if you spend a lot of time on the road. For this reason, vehicle advertising may be better suited for local small businesses as opposed to large national chains or companies that rely primarily on the internet to sell their products.
PRO: It Gives You Ad Mobility
Despite this limitation, vehicle advertising can still be very effective. 98 percent of respondents to a survey said they noticed ads on the sides of trucks. It is true that you are physically limited by where you can drive your vehicle to. You can’t be everywhere at once. Still, you do have a good deal of mobility that can be a benefit.
For example, if you aren’t drawing the customers you want from a specific neighborhood, you could simply drive there and spend some time in the area to inform those consumers of your business. This mobility is not available with every kind of advertising. If you purchase billboard space, for example, it will remain in that one area until you decide to spend more to place an ad on a different billboard in a different location.
CON: It Can Lead to Depreciation of Your Car’s Value
Of course, there are more costs involved than just paying for the creation and installation of the advertising on your car. You will also have to pay for the depreciation of your car over the course of driving it to spread that message. The more miles you put on your car, the more it will depreciate in value. In fact, it will probably depreciate in value by 10 percent as soon as you purchase it. You can try to get a reasonable car title loan to hedge some of this expense.
Advertising is expensive. Many companies spend a good portion of their revenue on marketing efforts. Vehicle advertising is one of the cheaper options available. It, however, has some downsides as well. Consider all these factors when making the decision of whether or not to invest in vehicle advertising.