Advertising your contracting business – whether you do house painting, electrical work or something...
Small Business Advertising Cost Comparison: Vehicle Wraps Win!
Unless you want your small business to remain a well-kept secret, advertising is necessary. Your current sales revenue should be paying for the ads. However, when you are just starting out in business, or you have not been very successful with prior marketing campaigns, you may not have the funds needed to pull out all the stops. At this juncture, vehicle wraps may the solution you are looking for.
What Does it Cost to Advertise?
A small business advertising cost comparison shows that a full-page magazine ad costs about $3,340. This figure refers to one four-color ad in one edition. It can be cheaper to go the newspaper route. Even that medium, however, is costly. Depending on your market, you may be looking at four to six figures.
If you stay strictly local, you might be able to get away with spending about $1,000. Unfortunately, this greatly limits the readership of the paper – and the number of consumers who take in your marketing message. Pole Position Marketing has crunched the numbers (see screenshot above) and shows what is pretty much a bleak marketing outlook for small businesses.
Vehicle Wraps vs. Small Business Advertising Costs
Since returns on investment are not guaranteed with any advertising medium, it makes sense to limit your investment but maximize your reach to the best of your ability. A vehicle wrap delivers on both counts. A typical wrap costs about $1,800 to $3,000. If you want all the bells and whistles (and then some), it may cost more. This number puts it on par with a 60-second radio spot, an extensive direct mail campaign or a half-page magazine ad.
That said, a wrap lasts for five years. Its longevity alone exceeds the effectiveness of any other advertising medium. A typical wrap gets about 16 million annual impressions. This translates into roughly 43,836 impressions per day. An impression is made when a consumer sees your wrapped vehicle. Now, compare this level of exposure to the number of folks who read the local newspaper. The odds are good that readership at the local level is minute.
Exposure with direct mail campaigns is iffy, too. Most folks throw out the junk mail without even looking at it. Dollar for dollar, you get more out of a five-year ad product during one year than you can hope to get out of a different type of marketing campaign during its brief stint.
In Line with Recommendations for Small Business Owners
The Small Business Administration (SBA) offers an advertising primer to entrepreneurs. The agency lists the basics of successful ad campaigns and highlights areas where you can help to ensure success. It is interesting to note that many of the suggestions appear to be in line with the way vehicle wraps work.
For example, the experts suggest that you use ads that show off benefits of your product or service. Wraps appeal to your current customers as well as prospective buyers. They can show benefits of a product or service. In so doing, a wrap can attract new customers to your business and establish your corporate identity in the eyes of consumers.
The SBA also warns that advertising takes persistence. A wrap is in place for five years, looks great all the time, and is ready to market your product around the clock. Even if you do not feel like getting out and driving around, you can just park the vehicle in plain sight at a busy intersection. You might say that wraps are made for persistent marketing!