As with any advertising campaign, it is essential that the effects of taxi advertising are evaluated in order to determine its effectiveness and if it is worth continuing your marketing efforts.
Find time to assess the short and long-term effects of taxi advertising on your enterprise. This will enable you to determine whether to continue with or stop the campaign. Compare the pros and cons carefully prior to taking any action.
Taxi advertising comes cheap which makes it practical for small and start-up business owners. Exposure in taxis that ply major routes in a particular city or cities is substantial enough since people can see the advertisement at any time of day or night. For instance, in New York City, home of the famous “Yellow Cab”, there is an average of 10, 986 impressions each day. Impression indicates the number of persons who can see a taxi ad within a specific period. The ads can be on taxi tops or panels.
Frequency is another advantage of taxi advertising. Just imagine how many commuters take the taxi cab to and from a certain location such as malls, supermarkets, central business districts, and leisure areas in a single day. This translates to high incidence of exposure which benefits the advertiser in terms of cost per view. A taxi ad that promotes a brand, commodity or service in shopping areas ensures a well-timed opportunity for communications.
For local entrepreneurs, taxi advertising is a chance to get across a definite segment of the populace. Purchases in particular neighborhoods will lead to exposure to residents of specific cultural or social classes as well as demographic attributes. Then again, the cost is a key consideration as it is the most inexpensive medium with reference to total and comparative costs.
There are also ambiguous or debatable points. One is the image factor of taxi advertising. Some advertisers’ especially big corporations feel this method is not appropriate for their trademarks or merchandise. Yet, it bodes well for companies with small advertising budgets. Besides, the reach may not be enough for businesses with target consumers in upscale residences or remote areas that taxis are almost absent.
Taxi advertising is not ideal for products without any definite geographic sectors. It will only be a waste of money and time for them. Consistency is also an issue given that not all taxis travel the same route every day. It may go to commercial areas on one day but miss those areas for the succeeding days.
The ad copy may be limited in terms of creativity. There are few formats and little space which makes it difficult for ad agencies to accomplish what their clients want. The mood of the target audience is also a primary consideration for taxi advertising. This reduces the effectiveness of the advertising tool.
Evaluate the Prospects
To sum it up, this exercise requires careful study. Keep in mind that taxi advertising may be beneficial to one advertiser but ineffective for another. The bottom line is it can be a good option. However, spend time to weigh all the benefits and disadvantages before making a decision to advertise through this medium or not.