Are vehicle wraps are a good investment? Smart companies know that in order to grow and prosper in a tough economy they need to invest in marketing and stay in front of their customers. Having a great product or service is no longer enough. You need to be heard and seen. Companies relying on their marketing now more than ever to expand the reach of their brand and stay relevant. Many businesses utilize their existing vehicles as a marketing channel by wrapping them with advertising. If your considering a vehicle wrap, here are some reasons why it’s a saavy investment.
1. Advertising Value
A few years ago, 3M conducted a three month study on the effectiveness of vehicle wraps in San Francisco. They discovered that a single truck could generate up to 16 million visual impressions per year. By those estimates a single vehicle in a metropolitan region in Alberta could generate well over 2 million impressions per year. Now consider if you wrap more than one vehicle that number multiplies and you start to get an idea of the huge potential for reaching a massive audience.
2. Positive Customer Impression
The appearance of your company vehicle says a lot about you. While an unmarked vehicle that has fallen into disrepair may make an unsavoury impression with your customers, a well maintained vehicle with smartly designed graphics can really help you be perceived favourably. That same 3M study revealed some incredible statistics. A whopping 98% of those surveyed felt the vehicle wraps left a positive impression of the advertiser and 97% remembered seeing ad.
3. Paint Protection
For many companies, large or small, a vehicle fleet is one of the largest investments they make. In a tough economy, retaining the value of those vehicles is important. Aside from the advertising benefits, a vinyl wrap will protect the painted surfaces of your vehicle from every day wear and tear.
Unlike other forms outdoor advertising like billboards or signage, which are fixed to a specific location, vehicle wraps have the freedom of mobility. Your branding is on the move and can be sent to targeted demographics, events or high traffic areas. Since it will never been in the exact same place, your audience is less likely to tune out your message.
Before you open your wallet you might be worried about how long your investment is going to last. So how do vehicle wraps fair when it comes to longevity? Well, leading wrap film manufacturer 3M warranties their wrap films for up to 5 years and their product bulletin states the expected Performance Life is up to 10 years. It’s not uncommon for a well maintained vehicle wrap to last 7 years or more and still look great. According to an article in the LA Times, most people keep their vehicle for an average of 6 years though some recent sources cite that due to the economy that number is creeping closer to 10 years. Bottom line, in most cases your wrap is going to last the lifespan of your vehicle as long as you take care of it.
A vehicle wrap costs anywhere between $2500 and $4500 depending on the size and shape of the vehicle. Partially wrapping the vehicle can lower those numbers even more and still deliver an attractive visual with impact. Compared to other forms of advertising, vehicle wraps are easily the most cost-effective solution.