We’ve encountered challenges that have tried our societal mettle before, such as 2008’s economic downturn or the aftermath of 9-11. But financial crises have happened before, and the terrorist attacks, while very tragic, were not life-threatening after they have run their course.
The coronavirus (aka CovID-19) is challenging us in unforeseen ways. It’s an unknown virus without a known template for how and where it will strike, so the only way to effectively stem its growth is home isolation. The consequences are multi-faceted. The most obvious is the trauma of the deaths and disruptions of virus-related illnesses. The economic toll may be of a greater magnitude than even the Great Depression, with every retail sector except groceries and pharmacies shut down or extremely limited. Jobless claims soared to approximately 3 million in a week in March, and one Federal Reserve official predicted 30% unemployment and a 50% drop in GDP during the second quarter of this year.
But, as dire as the medical and economic ramifications of the coronavirus may be, the social and psychological toll may be even worse. We’re social animals by nature and forced to alter our habits radically. With no sporting events to attend or cheer for from home, no movie theaters to visit, and no church services or social events to attend, we’ve lost essential connection points that provide friendship, inspiration, and comfort.
Despite the economic and social turbulence that the coronavirus has wrought, it’s still possible, and even necessary, for business owners to remain top of mind with the public.
One incredibly impactful way to raise awareness with the public is vehicle wraps. The cost will vary by market, materials, and model of the vehicle to be “dressed,” but $2,500-$5,000 is a substantial rule-of-thumb range. And, for that investment, vehicle wraps and fleet graphics reward customers with a high-octane cost per thousand impressions (CPM).
According to a study conducted by the Outdoor Advertising Assn. of America and 3M, a vehicle wrap delivers a CPM of $0.77, which represents the tremendous value when compared with the CPMs of a TV ad ($23.70) or radio spot ($7.75). Translated into daily and annual exposures, a vehicle wrap, on average, makes 101 impressions for every mile driven, and 30,000-70,000 daily and 10-25 million annual impressions.
And, unlike a radio, TV, or newspaper ad, where the viewer can change the channel or flip the page, someone seeing a vehicle wrap in traffic or as a pedestrian provides a more captive audience. And, a vehicle wrap isn’t required to be overloaded with verbiage to fill airtime; to create a wrap that gets results, less is often more in terms of text. A vehicle wrap has the advantage of being visible in four dimensions rather than two, which provides a more significant opportunity to use color, typeface, and various design effects for optimal effectiveness.
The message you want to deliver could vary widely based on the nature of your business and its product repertoire. In these times, if your business is deemed essential, your products and services are in higher demand than ever.
Every business maintains its own unique formula for success. However, every enterprise shares the need for cost-effective branding. Our turnkey production of fleet graphics and wraps delivers branding that captures the public attention and makes the impact you need.
We produce several hundred wraps a year for clients across a wide range of industries. We’re committed to our customers’ success, and our full-service design, production and installation offerings allow us to collaborate with our customers and execute their branding goals.