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A marketer’s guide to recessionary spending

by Amy Boisvert August 5, 2022
written by Amy Boisvert
recessionary spending

COVID-19 has left a mark on the world, and it’s not going away anytime soon. In fact, the economy is expected to take years to recover from this downturn. And for marketers that means recessionary spending mode is activated!

When consumer spending drops significantly during an economic downturn, companies often slash their marketing and advertising budgets. This can be devastating for brands that are trying to stay afloat: without any marketing efforts or ads, what’s going to make consumers choose them over another company? And if they don’t have enough money in their budget for marketing or advertising, how will they compete with other brands who do?

But there is hope! While it may seem like a bad idea at first glance, cutting your advertising budget actually presents an opportunity: now is a good time to create brand awareness while other companies are cutting their ad budgets out of necessity. The availability of ad space goes down when demand goes down, so now is an excellent time to dominate your market share before other companies catch up.

This means you should take advantage of free or discounted advertising space while it lasts—and use this recession as a chance to build up your brand awareness in order to stay ahead of the game when things return to normal.

Why You Should Invest in Marketing Now

Marketing is a long-term investment, but in the short run, it could mean spending more than you’re making. However, in the long run, if you’re smart about it, it can mean earning more than you spend.

In fact, companies who advertise and market aggressively during recessions can maintain or increase sales at a time when competitors are cutting back on advertising budgets and promotions. Why? Because they want to keep their market share!

Brands that don’t spend lose market share… up to 15% of it, to be exact.

“rules of recession-proofing” report

All it takes is for a similarly-sized competitor to double their ad spend right when you’re cutting yours. And because brand building takes time (generally three years), aggressive marketing during a recession gives marketers an opportunity to differentiate themselves from their competition by building brand loyalty early on—and reap rewards later on when consumer sentiment improves again.

In the past, the recession has been a period where businesses cut back. However, smart advertisers know that a recession is actually a golden opportunity. In a recession, buyers become more cautious and spend less, so most companies assume that they’re unlikely to see a return on investment. What they don’t know is that ad space will become cheaper, and customers will be paying attention to branding and marketing more than ever. And what we saw with the pandemic and “revenge travel”, we will likely see with “revenge spending” post-recession.

There’s a sense of mounting anticipation among consumers: they’re eagerly waiting for the economy to bounce back so they can start spending again. When companies develop marketing strategies that encourage trust, conversion, and brand loyalty, they will inevitably reap the rewards of a better economy in a few years.

Building Brand Loyalty with Recessionary Spending

Brand loyalty is especially important because it gives you an edge over competitors when it comes time for advertising again—you’ll have an established audience that trusts you, and your share of the market increases when you advertise during a recession because there’s less competition. This means that you get more bang for your buck! Finally, it’s also a good opportunity to exercise creative marketing skills in order to stand out from the crowd

Some other recession marketing strategies include:

  1. Encouraging trust: Customers will be more cautious about spending money on products and services during a recession. You need to build trust with your customers so they know they’re buying something they’ll be satisfied with.
  2. Getting customers to convert: If you have good products and services, then getting customers to convert is not as hard because they will feel good about what they’re buying. You also need to make sure that you have good customer service so that if something does go wrong, they will come back again.
  3. Keeping brand loyalty: During a recession, there are fewer brands spending on advertising than usual because they don’t have the funds for it—this means that those who do advertise will get more bang for their buck because there isn’t much competition out there! This creates an opportunity for businesses like yours that want their share of the market in order for them to reap the rewards of an improved economy down the road when things start picking up again

Tips for Advertising During a Recession

You don’t have to spend a lot of money to create a brand that stands out. You can use the recession as an advantage by being bold and making a statement about your business and its products or services. Be creative with your marketing, ensure you are driving conversion, and focus on brand development. Also from the same report mentioned above, contextual advertising is king. Consider how your brand can play with certain mediums; OOH advertising is a great playground for content + context.

Contextual advertising is 1.2 to 2.5 times more effective than other forms of advertising, including behavioral targeting.

“Rules of recession-proofing” report

Marketing is a great way to keep your business afloat when things are slow. There are many ways to market during these tough times, and with the right strategies, you’ll be able to reach new customers who have never heard of you before.

At Wrapify, we can help you develop a long-term branding strategy that will drive conversion, create customer loyalty, and keep you moving forward through the struggling economy.

August 5, 2022 0 comment
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Digital MarketingOnline AttributionOOH Advertising

Why digital marketers are moving from display ads to OOH

by Amy Boisvert May 25, 2022
written by Amy Boisvert
digital marketers

More and more marketers are testing out-of-home (OOH) placements as an alternative channel to digital mediums. Nowadays, the classically-recognized top-of-the-funnel advertising platform not only helps boost brand awareness. These ads are now driving real results, similar to the beginning of the digital marketing era. 

In this article, we’ll refer to four main reasons why this ad platform is making a significant comeback, and how marketers today – digital, performance, and brand – can all benefit from it. 

1. It works.

Yes, that’s technically a full sentence. But let’s back it up with facts and figures! Before the pandemic, and even more today, the OOH industry has proven the effectiveness of the ad medium. A recent report commissioned by the OAAA measured consumer’s online actions taken after being exposed to six different advertising platforms – OOH, TV, Video, Radio, Display, and Print. The results painted some interesting comparisons between how different platforms are used, and what results they can drive. 

For example, when it comes to driving search results, marketers may think that Video or TV would be the most impactful medium by far. However, 41% of US adults reported using a search engine to look up information after seeing an OOH ad. 

OAAA/Comscore Consumer Study, May 2022

Additionally, many digital marketers are under the impression that to drive conversions (app downloads, website visits, online purchases) this must be done with display ads. But OOH and TV advertising outperformed display on each conversion tactic in the study.

OOH also made a stand-out performance, coming in as the #1 platform in driving social and video posts. Which makes sense, because consumers are not going to take screenshots of display ads on their phones and repost them, but they will stop to take a picture of clever brand advertisements while they are out living life. 

2. Digital ad performance is declining. 

With an influx of companies shifting to online marketing during the pandemic, increased competition created higher digital ad costs for demand gen marketers. According to a recent survey, 77% of marketers agree that increased online focus during the pandemic made SEO competition tougher. A majority also indicate that having to compete with massive brands for search positions resulted in declining returns for digital ads. 

In addition to search display, social media costs increased for marketers as well. Onescreen.ai’s Chief Revenue Officer explained that Facebook (Meta) and Google campaign costs increased significantly during the 2021 holiday season. Which also meant that consumers were inundated with digital advertising. A majority of marketers from the same survey believe that poor performance in digital advertising is a direct result of consumer’s digital fatigue and general distrust of digital ads. 

On top of all that, there is another huge risk in the world of digital media. In 2022, digital ad fraud in North America is estimated to account for $23B in wasted marketing dollars. Which is more than double the size of the total US OOH ad spend. Let that sink in…

3. The US is getting back to normal.

It would be wrong to say that the pandemic didn’t also impact the out-of-home advertising industry. During peak lockdown, travel on the road, on subways, or in stores was at a near standstill. Therefore, the typical OOH advertising mediums simply were not meeting marketer’s needs. 

According to the monthly mobility reports provided by Geopath and Motionworks, consumer movement is starting to pick back up. In their latest report, the percentage of people leaving their homes on an average day in April is above that of March 2021 – up to 88% of the US population.

Geopath/Motionworks Mobility Report, May 2022

Now that things are opening up and people are going back to work, out-of-home is experiencing a resurgence, which resulted in OOH spending increasing 72% in the first quarter of 2022. It wasn’t just an overall increase in marketing budgets post-pandemic, but also a result of marketers seeking new channels to reach their goals. Brands like Sunday Scaries and BelliWelli became just two of the many brands to devote upwards of 20% of the marketing budget on OOH media buys (average spend is still 4% across all industries). 

4. BONUS: It’s measurable. 

While some of this information may sound familiar, something more unheard of is the measurability of OOH advertising. That’s because it’s relatively new, and still not perfected in many versions of OOH. At Wrapify, we interrupted this pattern. 

Our software provides measurable statistics. It’s not just total impressions, but consumer actions, too. Using the Wrapify Attribution Suite, brands can attribute what exposure to Wrapify vehicles affects site visitation, online conversion, in-app conversion, and retail foot-traffic.

Wrapify Attribution Suite

Brands using Wrapify can also use the exposed audience for retargeting. With Physical Retargeting, brands can trigger Audio, Mobile, Display, Connected TV, Native and Video advertising from exposure to Wrapify vehicles. This feature is a perfect addition to any marketing mix, activating a complete omnichannel campaign.

When you think about a successful marketing campaign, you weigh several factors. “Is it the right audience?” “Right time?” “Is it measurable?” “Will there be ROI?” All of these are important to consider. And while you may think that only certain campaign types could give you all these answers, the resurgence of OOH is here to make you think differently! 

Open to talking more about it? Get in touch. 

May 25, 2022 0 comment
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Ad Industry NewsPress ReleaseTech

2020 Elections Meet New Multi-Channel Platform Wrapify

by James Heller November 22, 2019
written by James Heller
Political Candidates Use Wrapify’s Digital Platform Powered by the Gig Economy to Share Powerful Messages and Put Cash Back into the Pockets of the People

SAN DIEGO, Nov. 21, 2019 (GLOBE NEWSWIRE) — Wrapify, the performance-driven ad tech platform for brands powered by OOH and the gig economy, has announced it will deploy its wrapped vehicles on the 2020 election trail beginning November 2019 in New Hampshire, featuring political candidates’ campaigns on cars throughout the state. Wrapify is the only ad platform in U.S. history that provides widespread visibility and delivers measurable results for political candidates while boosting jobs for the American population. Political candidate Roque “Rocky” De La Fuente is the first to capitalize on Wrapify’s unique, one-of-a-kind digital marketing platform.

In 2020, brands will continue to focus more of their overall out-of-home display budgets toward digital out-of-home (DOOH), and DOOH will be more integrated with digital buys than ever before. Last year, DOOH accounted for 37.3% of the total global OOH ad spend, according to estimates from WARC. The same report predicts that DOOH will grow 10.1% each year between 2018 and 2021.

2020 candidates are already searching for strategic outlets beyond traditional channels to market themselves and reach constituents in a more differentiated, personal and trackable way. Wrapify presents a new opportunity for political candidates to allocate campaign budgets to creatively reach voters and share their message throughout the voter journey with moments for influence, action and support.

“We work with brands, advertisers and marketers looking for new and powerful ways to reach hyper-targeted audiences — so working with political candidates is a natural fit for Wrapify,” said James Heller, CEO, and co-founder of Wrapify. “Beyond that, everyday drivers are able to monetize their trips by placing advertisements on their vehicles, which puts money back into the pockets of the people while promoting for any campaign. Wrapify is excited to work with Rocky to promote his political campaign in a creative way to connect with the community, launching first here in New Hampshire.”

Wrapify is available to anybody that drives and is looking to make extra money for their everyday commute or routes. Existing gig economy workers such as Lyft, Uber, GrubHub and Postmates drivers are also able to leverage Wrapify’s platform to earn more by monetizing their typical routines and routes.

To learn more about Wrapify, please visit wrapify.com.

About Wrapify

With a powerful combination of OOH, digital and the gig economy, Wrapify empowers Fortune 500 brands to reach audiences in an omnichannel environment – while delivering measurable, actionable analytics to prove its effectiveness. This high-recall ad tech platform combines the impact of out of home advertising with the scalability, targeting and accountability of digital.

Brands including AT&T, Coca-Cola and Salesforce reach and engage audiences that interact with Wrapified vehicles across channels and devices, driving awareness, attribution and conversion. Wrapify enables brands to target and scale ad campaigns nationwide, across screens and channels, as well as access to data in real-time to measure performance.

200,000+ drivers in the U.S. use the Wrapify app to earn extra income simply by driving. Founded in 2015 and recently named #309 on the 2019 Inc. 500, Wrapify is headquartered in San Diego, CA.

Read from the release source here:

Read Release

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November 22, 2019 0 comment
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Ad Industry NewsTechWrap Industry News

Static vs. Digital: Here is how they stack up

by James Heller November 13, 2019
written by James Heller

James Heller, CEO, Wrapify

SMARTBRIEF – Nov. 13

The out-of-home advertising industry is buzzing about digital out-of-home. Last year, DOOH accounted for 37.3% of the total global OOH ad spend, according to estimates from WARC. The same report predicts that DOOH will grow 10.1% each year between 2018 and 2021.

But, DOOH isn’t necessarily better, or even more technically advanced than “traditional” OOH. Some static OOH channels are powered by as much, if not more, technology than digital ones. Buyers need to understand the pros and cons of each format and be aware of common misconceptions plaguing the space.

Creative and viewability factors

The chief appeal of OOH is that it is effective — and an alternative, or supplement, to the crowded world of online advertising. This benefit holds whether the creative is digital or static, with both options having pros and cons.

Since digital OOH channels rotate ads from multiple brands on a single digital billboard, publishers can serve more impressions. This is part of the reason publishers are keen to convert static placements to LCD or LED screens: they can sell more advertising. That doesn’t mean that there aren’t any benefits for marketers. Nothing needs to be printed or manually placed, so creative lead times are short. The more advanced DOOH advertisers create dynamic ad experiences, leveraging familiar digital capabilities like weather triggering and dayparting. GlaxoSmithKline (GSK) increased brand awareness for its allergy medicine, Piri, by using digital signage to share real-time pollen counts. Better yet, the campaign only went live when pollen counts passed a certain threshold.

One downside, though, is that DOOH advertisers share physical space with other companies and miss out on impressions. With static OOH, companies have 100% viewability and ownership. Static placements are often easier to read and of higher visual quality than many digital images. You can’t create dynamic creative, but you can still ignite online or offline action with compelling copy and visuals. To create an immersive experience and tell a sequential story, advertisers can purchase a series of static placements that reflect their audience’s travel patterns. For example, to raise awareness and increased app use, a delivery service used posters on New York City subways. In one week, the campaign generated 1.1M earned impressions on social and, ultimately, drove a 10% increase in app use…

READ THE FULL ARTICLE HERE ON SMARTBRIEF.COM

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With a powerful combination of OOH, digital and the gig economy, Wrapify empowers Fortune 500 brands to reach audiences in an omnichannel environment – while delivering measurable, actionable analytics to prove its effectiveness. This high-recall ad tech platform combines the impact of out of home advertising with the scalability, targeting, and accountability of digital.

Want to learn more about Wrapify?

Get In Touch

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Nielsen & OAAA OOH Advertising Report Shows Wrapped Vehicles as a Top Medium in the Segment

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November 13, 2019 0 comment
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Ad Industry NewsTechWrap Industry News

Ad Industry Chieftain Doug Cordova Joins Wrapify in Latest Business Development Addition

by James Heller November 11, 2019
written by James Heller

CALIFORNIA, Nov. 12 – Today we are excited to officially announce the hiring of Douglas Cordova to the Wrapify Team as Vice President, Business Development. 

Doug will focus on expanding Wrapify’s presence across the U.S., building brand awareness and recognition with clients and agencies in the OOH space. Based in New York, much of his focus will be on Wrapify’s East Coast presence, while also supporting all business development aspects across the U.S.

With an impressive background in the OOH space over the last decade+, Doug comes to us most recently from EnPlay Media, where he was responsible for developing the go-to-market strategy for new business and sales growth. 

Prior, he was Director of Sales and Business Development at JCDecaux where he oversaw the business development team responsible for new business acquisition, new business development and new business revenue for JCDecaux North America. During his tenure, Doug generated over 17 million in revenue. 

Given Doug’s successful track record of driving exponential revenue growth, we are thrilled to have him with us at Wrapify. 

With a powerful combination of OOH, digital and the gig economy, Wrapify empowers Fortune 500 brands to reach audiences in an omnichannel environment – while delivering measurable, actionable analytics to prove its effectiveness. This high-recall ad tech platform combines the impact of out of home advertising with the scalability, targeting, and accountability of digital.

Want to learn more about Wrapify?

Get In Touch

Like this read? You may also like:

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Nielsen & OAAA OOH Advertising Report Shows Wrapped Vehicles as a Top Medium in the Segment

November 11, 2019 1 comment
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Ad Industry NewsTech

Latest Out of Home Advertising LUMAscape Includes Wrapify as Media Leader

by James Heller October 16, 2019
written by James Heller

SAN DIEGO, Oct. 16 – LUMA has released its latest LUMAscape for out-of-home advertising. LUMA is a thought leader who provides resourceful content that delivers insightful and thoughtful observations on the complex and dynamic digital media and marketing ecosystem.

LUMAscapes are some of the industry’s most widely referenced resources. They organize the ecosystem across all critical categories and provide clarity to a complex digital media and marketing landscape. Some of their many LUMAscapes include breakdowns across Mobile, Content Marketing, Sales Tech, Gaming, Agency and more.

Wrapify appeared in the “Media” category, alongside various long-standing industry leaders and reputable companies. Other categories on this particular OOH LUMAscape report are Media Planning, Content Management, Ad Servers, OOH Agencies and more.

To download the full LUMAscape head here:

Download 2019 OOH LUMAscape

With a powerful combination of OOH, digital and the gig economy, Wrapify empowers Fortune 500 brands to reach audiences in an omnichannel environment – while delivering measurable, actionable analytics to prove its effectiveness. This high-recall ad tech platform combines the impact of out of home advertising with the scalability, targeting, and accountability of digital.

Brands including AT&T, Coca-Cola, and Salesforce reach and engage audiences that interact with Wrapified vehicles across channels and devices, driving awareness, attribution, and conversion. Wrapify enables brands to target and scale ad campaigns nationwide, across screens and channels, as well as access to data in real-time to measure performance.

Want to learn more about Wrapify?

Get In Touch

Like this read? You may also like:

Claritas Unveils New Conversion Tracker that Allows Marketers to Measure Campaign Results – With Wrapify

Nielsen & OAAA OOH Advertising Report Shows Wrapped Vehicles as a Top Medium in the Segment

October 16, 2019 0 comment
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