Why is it a smart business decision to wrap your company vehicles & can the expense be a tax write off?
When looking to become profitable, small businesses should make use of every edge they can get. This means increasing your efficiency by optimizing your business processes while proactively avoiding unnecessary costs.
A significant portion of a business’s revenue usually goes towards marketing, as it is vital towards increasing brand awareness and making more sales. However, despite the need for marketing, it is necessary for business owners to look into the most cost-effective way to market their brand. This means looking for a way to market the business and reach many potential customers without eating through the entire budget.
One of the most effective ways of advertising your business is through vehicle wraps. This article will discuss this smart marketing solution and how your business can benefit from it.
What is Vehicle Wrapping?
This refers to the marketing practice of partially or completely covering a car in an advertisement, essentially resulting in a mobile billboard. While wrapping can be achieved through painting, today, large vinyl sheets known as decals are becoming increasingly popular. This is because decals can be removed easily, thus significantly reducing the costs associated with changing advertisements.
Benefits of Using Vehicle Wraps in Columbus, Ohio
1. Cost Effective Advertising
Professional vehicle wrapping is one of the most cost-effective ways of advertising. After paying the initial costs of getting the car covered, your advertisement can last for up to five years. Moreover, you have the choice of either covering the vehicle partially or completely since the size and detail of the decal affects the cost of the wrap.
When comparing vehicle wrapping to other prominent forms of advertising such as TV or radio, wrapping passes the message at only a fraction of the cost. Also, a TV or radio commercial can cost thousands of dollars for only a few seconds of exposure. Additionally, you cannot control who receives the advertisement.
A vehicle wrap, on the other hand, provides exposure for a longer period while reaching the community the advertisement is intended for.
2. Increased Brand Awareness
Customers are more likely to purchase from a company that has been endorsed by somebody they know. Thus, if you are a local company and manage to get a client in a certain neighborhood, if their neighbor sees your vehicle, they will think of you as the right hire.
3. 24/7 Marketing
Unlike other advertising platforms which target the consumer at specific times, your vehicle wrap will advertise to people as long as you are in their vicinity. Moreover, it is not as intrusive as other forms of advertising since individuals who are not interested in your products can simply look away, while those that have been looking for your kind of products have the chance to get more information.
Moreover, a vehicle wrap enables your car to stand out amongst others. This can be advantageous especially in traffic jams where a lot of eyes will be drawn to your advertisement; cost free!
4. Tax Deductible
Vehicle wrapping is likely to qualify as a tax-deductible advertising expense for your business, thus further improving your bottom line. Nonetheless, the wrap should be designed and installed in a way that clearly markets and promotes your brand and business. Also, the wrap should be installed only on cars associated with the business. Doing this is what will help you get the deductible. Ensure that you consult with your tax advisor so they can advise you appropriately.
Vehicle wrapping is an effective way of promoting your business without a lot of hassle. Consider utilizing this advertising technique to improve your profitability and overall bottom line.