Can You Measure the Effects of Business Advertising?
I came across an interesting article on AdPulp, “Quantify This: Poor Advertising Research Costs the Industry $2 Billion a Year" written by Peter Levitan, a former ad agency principal. It wasn’t so much his insights on “industry professionals” take on advertising that surprised me—what did surprise me was a comment Levitan included from a media advertising expert about the business advertising industry itself.
Levitan quoted the ad expert: “…the advertising industry had succeeded for years without truly knowing how or even if, ads worked.” So in effect is he saying, you can’t track your ad dollars or the ad penetration?
In my opinion you certainly can measure the effects of business advertising even if, according to Levitan, “…it’s too bad that after decades of technological advances we still don’t have the tracking systems to efficiently understand the effectiveness of traditional advertising.”
Any carefully planned marketing strategy or ad campaign can be tracked—the process might include asking customers how they found your business, but for small business owners, that’s pretty easy to do.
Stats and More Stats on Business Auto Wraps
Whether you use surveys or “how did you hear about us” ad tracking methods, you can find out how new and old customers finding your business and purchasing your products or services. You can tell if a customer inquiry comes from a fill-in form on your website but Levitan isn’t talking about online advertising but the more traditional fare like print (newspapers and magazines), radio and television ads.
At Sunrise Signs, we already know the power of business auto wraps and how affordable they are, but let’s look at some of the disadvantage of traditional ad methods compared to business vehicle wraps and graphics.
According to the Outdoor Advertising Association of America, some of the disadvantages of choosing traditional ad methods over business auto wraps by ad venue are:
- Too many fragmented audiences – it’s hard to catch your exact target market on television based on who’s watching and when.
- DVRs – Almost every home entertainment venue offers a DVR or possesses some other way for consumers to record favorite shows and skip the commercials—hence, your ads may never been seen.
- Rising production costs – the cost to hire those who produce, shoot and provide verbiage for television ads is growing and these costs must be added to your entire TV ad campaign.
- Primetime TV isn’t a great reach builder – With hundreds of cable and satellite channels, the number of folks watching primetime television shows is dropping drastically.
- Too much clutter – your ads can get lost if you choose a TV station with scrolling information having nothing to do with your ad.
- No visuals - radio jingles and ads can be informative but there’s no visual component.
- Multiple station content – it’s not a good idea to choose one radio station—you need two or three to reach a wide audience and more ads mean more money.
- Peak times – the biggest bang for your radio ad buck is when folks are driving to and from work—or early morning and early evening. This takes midday out of the picture completely.
- Tech Upsets – with technology and online news so readily available, newspaper penetration is less than 50 percent.
- Age matters – if you need to reach those in the 18 to 24 age group, they almost never read newspapers.
- Costly ads – newspaper ads are expensive and they are not evergreen, meaning once the next day’s paper arrives, the old one is in the trash.
- Less than 50 percent of newspapers readers said they even recalled noticing ads.
- Being specific – in order to reach your target market, you need to seek out specific audiences. Who’s reading what magazines? When that’s determined, the cost of magazine ads don’t offer the return on investment business auto wraps do.
- Short term advertising – just as with newspaper ads, the visual impressions are low and short term.
- Readership behavior – Magazines ads are nice and glossy but subscribers dedicated to their magazines do opt to read what they want, skip the ads and then toss the magazine.
- Millions of websites and options – with social media venues and the plethora of websites out there today, you can’t be sure you online ads are even reaching consumers.
- Security and privacy – There are still too many folks afraid of providing personal information on fill-in forms to learn more about a product or service. Although experienced Internet users realize most of these are safe, you have to consider the audience that does not.
Business Auto Wraps
You can indeed measure the effects of business advertising—or at least learn more from those like the Outdoor Advertising Association of America (OAAA) who consistently track these statistics. Now let’s look at some business auto wraps statistics:
- 95 percent of people surveyed said they remembered the vehicle graphics they saw.
- One wrapped vehicle can gain up to 70,000 visual impressions per day—and that’s not just at peak times.
- A company would have to pay $130,000 in advertising to achieve the same effect as one $3500 wrapped vehicle.
- Business auto wraps never stop working and turn vehicles into 24/7 moving billboard advertisements.
- Advertising with business vehicle wraps and graphics will reach every consumer age group—not just one specific group.
- Vehicle wraps boost company name recognition—15 times greater than other ad methods.
- According to the OAAA, “more than 90 percent of Americans aged 18 or older have traveled in a car in the past week.” You can reach that 90 percent by creating a moving pictorial of your business with vehicle wraps and graphics.
- The cost of auto wraps for business owners compared to other ad venues is so much lower per visual impression:
Spending Ad Dollars Wisely
So it wasn’t’ that I so much disagreed with the article that you can’t track advertising as it was how the small business owner can reap the rewards of business auto wraps that got to me. If a business owner is told an ad campaign can’t be tracked, they probably won’t implement the campaign.
On the other hand, when you have real statistics and the disadvantages of traditional ad venues right in front of you and compare them to affordable and noticeable business auto wraps to me it’s a no brainer.
You can track where you ad dollars are doing and you can also employ some tracking techniques to find out what ad strategies are best working for your small business. And, here, I think I’ve proven just how smart a business auto wrap campaign can be.
Time to change the ad game—and your strategy!