Cynics of modern-day capitalism will say that the only purpose of business… is profit. However, companies and brands can benefit the world around them immensely. A 2019 article published in the European Research on Management and Business Economics journal identified the correlation between a country’s economic growth (from 2008-2017) and the investment in that country’s top brands. The article reviewed 38 countries, each one with a positive correlation between investment in these brands and long-term, overall economic growth.
The Economic Impact of DoorDash During the Pandemic
Companies don’t only provide employment opportunities. They also positively impact society through the efficient exchange of goods and services. These optimizations allow customers and businesses alike to focus on their top priorities. One example of a brand proving its contribution to the economic well-being of a country is DoorDash. In a 2019 report, DoorDash noted that it was responsible for $13.2 billion in direct, indirect, and induced economic activity during the first year of the pandemic. Additionally, 67% of restaurants and food operators reported that DoorDash was a critical part of staying above water during the COVID-19 restrictions. This was due in part to DoorDash’s COVID-19 relief programs which assisted restaurants financially. Some of these programs eliminated commission fees and supported marketing costs.
How Wrapify Generates Positive Economic Impact
With our newly-launched Wrapify Driver Marketplace, we are economically empowering more people than ever before. We connect brands with our network of over 400,000 drivers and gig workers. Through this, we facilitate the open sharing of economic value. Not only do gig drivers learn about the latest offers from businesses that can give them a financial boost, but they also get access to exclusive discounts and other financial opportunities.
We aim to foster a positive, economic impact by providing buyers and sellers with a mutually beneficial marketplace. Brands get access to meaningful placements and visibility that can be tracked, measured, and attributed. This allows companies to retarget the exposed audience and accurately calculate their marketing return on investment (ROI).
Furthermore, Wrapify puts the ad spend invested by these firms back into the pockets of both delivery and rideshare drivers. Drivers use their extra funds from Wrapify to assist them with paying for education, retirement contributions, car operating costs, household expenses, and more. A 2020 paper published by The Hutchins Center on Fiscal and Monetary Policy (part of the Brookings Institution) notes that the flexible hours that rideshare drivers enjoy enable them to withstand income oscillations. And again, the paper mentioned above calculated the gains created by ridesharing services. These have yielded over $1 billion for the San Francisco Bay Area alone.
Another study published by the Milken Institute in 2017 examined the first and second-order economic effects of ridesharing services by analyzing Google search trends for Uber and Lyft. This paper found that a one percent increase in searches for ridesharing services resulted in 2.19 lives saved per month. The mechanism of action is purported to be through the reduction of alcohol-related motor vehicle fatalities.
By supplementing the income of rideshare drivers and subsequently encouraging them to stay in the industry as it becomes saturated, Wrapify is contributing to social and economic benefits en masse.
Be Part of the Difference with Wrapify
If you want to use out-of-home advertising (OOH) as part of an omnichannel marketing strategy, reach out to us. We are trusted by some of the world’s leading companies, including Zoom, Amazon, and General Mills. With us, you will be able to achieve better attribution AND feel good about where your ad dollars go – into the pockets of rideshare drivers.
If you are a rideshare or delivery driver and would like to earn extra income with Wrapify, learn more here.