The price of vehicle wrapping can be a bit off putting for first time buyers, you don’t have any guarantee that your ad will work, and it’s often a couple of grand to dip your toes in.
You’re probably looking at all this shiny vinyl, and wondering whether you should just bin the whole idea and be done with it. But wait! Don’t run off just yet – this cloud has a silver lining, with enough left over to line your pockets too.
It’s true yes, the average price of a vehicle wrap ranges from £1500-£3000, but you can blast past that figure in profit over the lifespan of your wrap.
Sound too good to be true? Well it’s not. Simply put, by maximising and tracking your design and advertising strategy, you will profit from your vehicle wrap.
Stick around for 5 minutes and you’ll come away not only understanding how to mitigate the price of a vehicle wrap, but the 5 steps you can take to maximise the profit you make from this long term investment.
Represent a business or start-up? Looking to take your business to the next level? This article is for you.
Can I even afford a vehicle wrap?
With many accessible financing options, what you should be asking is can I afford to not get my vehicle wrapped! Wrapping is an extremely common request for dealers and many include the cost of wrapping as part of your lease package.
You can also go down the personal or business finance route with a plethora of secured/unsecured loan options available. For more information, check out 6 smart ways to finance a vehicle wrap.
Is vehicle wrapping really worth the money?
It’s affordable and it’s definitely worth the money. It has the highest return on investment (ROI) of any form of advertising thanks to a fantastically low CPM (cost per view) of only 2 pence per 1000. A high quality wrap easily lasts 5 years if cared for appropriately too, that’s only about 87p a day.
So, just 87p, for an ad that can generate 30,000 to 70,000 impressions a day depending on route, an average of 18 million a year. That’s a lot by advertising standards.
Just for reference a beginner google campaign costs about £14,600 a year for about 7.3m impressions. That’s about £40 a day, not even close to the value offered by vehicle wrapping. For more information, check out vehicle wrapping ROI vs traditional advertising.
How can I accurately measure my vehicle wrap ROI?
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The best way to measure your vehicle wrap ROI is by including trackable elements in your vehicle wrap design.
This might mean a unique telephone number, email address or QR code. Whatever method you use, make sure it allows you to directly track enquiries generated by your wrap. You will quickly be able to determine how many new customers you are getting a week as a result of your new strategy and how many of those leads turn into fresh business.
This will allow you to plot out how quickly you will recoup the price of your vehicle wrap, and how much you stand to profit beyond that price.
So, how can I maximise my vehicle wrap profit?
Vehicle wraps act as a form of offline-to-online marketing for your business, and should be treated as such. At its simplest, driving around is what “drives” this kind of campaign, but here are 5 steps you can take to maximise profits.
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Maximise your design
The main thing you need is a killer design. It needs to be eye catching, memorable and display relevant information, such as your telephone number, email address or brand message.
If you have a designer, now is the time to consult with them on the best way to promote your business on brand. If you don’t, your wrapping service should provide design support.
If you want to learn more about the process, check out our vehicle wrap design guide.
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Plan your routes strategically
Think carefully about the routes you take and how that might impact your business. Don’t take the backroads, stick with busy main roads, where you are guaranteed to get noticed.
That doesn’t mean you should go out of your way to waste time, but just think, the next time your vehicle is stuck in traffic, could be the time someone behind you is furiously scribbling down your number.
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Think about where and how you park
As with driving think strategically. Try and park somewhere that shows what you are doing and who you are doing it for. If you ply a domestic service for example, you’re a visual case study in action.
A neighbour might well see your van outside a home on their street and take down your contact details or follow up about you with the homeowner. An unbranded van just isn’t going to attract that kind of attention.
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Prioritise your presentation
If you want to maximise your impact, keep your wrap in tip top shape. You’ll have to wash it by hand to avoid damage, but it’s worth it. Customers see your vehicle as a representation of you, so keep it professional!
A well-polished vehicle shows you care, which ties into the level of service customers might expect, and even how likely they are to trust you.
Checkout our vehicle wrap aftercare guide for information on how to keep your wrap clean, keen and pristine!
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Analyse your data
If you get really granular with the data you can use it to track what areas are netting you the most enquiries and profit.
This allows you to heighten your business efficiency. For example, if you run a landscaping firm, the more customers you can get from the same area, the better. Having many customers on the same road is a real win.
Time is money, and less time wasted driving, equals more time working, increasing your daily profits. This is the kind of strategy likely to snowball too. The more people in an area that see you on a regular basis, the more successful you appear, the more people that enquire, the greater your client density per square mile.
Can you really profit from a vehicle wrap?
Yes you can, we’ve demonstrated how you can do it, now let’s go through an example. If you are still on the fence, here’s some food for thought.
If anyone knows how to milk the potential of vehicle wrapping it’s Foxtons. The iconic Foxton’s mini has been a staple of the London real estate scene for more than 20 years, referencing everything from the Italian job to horse racing.
All their designs included the Foxtons logo, ultimately redirecting attention from eye catching designs, towards customer engagement. Real estate is a very large and saturated industry, so for Foxton’s wrapped company cars were not only a great way to stand out, but to make their presence felt.
The strategy quickly became so successful that Foxton’s began to wrap at scale, culminating in a request for us to wrap a whopping 349 minis in just 13 days.
What are my next steps?
For more information, check out our Ultimate Guide to Fleet Wrapping.
You will learn the benefits of branding your fleet, how fleet wrapping works, how much it costs, how to maximise the effectiveness of your branding, different types of fleet wraps, how other companies use vehicle wrapping and frequently asked questions.
