New media has started to invade the world of advertising. One of these emerging new media advertising forms is taxi media advertising. These are just supposed to be ordinary taxi cabs that we see roaming the busy streets everyday.
Why have they become valuable ad spaces? Here are some of the reasons why:
- Taxi media advertising offers a low CPM compared to other forms of media. CPM (cost per mille) is the benchmark used in advertising to calculate the cost of advertising a product to 1000 viewers. Taxi media advertising then becomes an affordable way for small businesses to advertise their products or even for big businesses to supplement their advertisements running on traditional media.
- Highly visible 24 hours a day. Taxi cabs are present the whole time in major thoroughfares and busy streets. These automobiles ferry passenger to and from places where business is heavy like airports, downtown areas, and shopping malls. Heavy street traffic during rush hours provides a big opportunity for ultimate ad viewership.
- Ads are targeted towards the right market. Usual taxi cab passengers are successful and busy business people. This kind of person normally does not have extra time to watch television or browse through magazines. Having them inside the cab for a couple of minutes, or even an hour during heavy traffic, makes them constrained to view the advertisement in the taxi's interior.
- Taxis offer advertisers a creative canvas. The entire exterior of the cab is the canvas. Creative ad layouts can be placed on it making the cab look good and at the same time targeting consumers.
- Taxis can deliver the customers right to where the product is readily available. Being perpetually mobile, taxi cabs do not only display a product advertisement on its exterior and interior but can also actually bring the customer right to the store where it is sold.
Ad placements in taxi cabs are not only confined to painting the body and the seats with the ad layouts. Other ad placement options in taxi media advertising include:
- Taxi tops – These are two-sided advertisements in placeholders positioned on top of the cabs. They provide eye level impact to pedestrians and bystanders as well.
- Digital smart tops – Advertisements are shown on LCD screens propped on top of the cabs. They are more effective in a way since they get more attention from viewers.
- In-taxi media – Screens are placed inside the cab where passengers can view news programs and the advertisements, of course.
- Branded receipts – A discount voucher or store locator can be conveniently placed on taxi receipts.
- Rear window displays – An eye-catching advertisement that targets the driver and passengers of the car behind the cab.
Advertising products have changed overtime. Almost all available spaces have been considered as valuable ad space. Before, we were used to just seeing advertisements in traditional media like radio, television, newspapers, magazines, and posters. Taxi media advertising has proven that new media has gained power in the field of marketing.