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Friday, October 16, 2009

New Venue For Advertisement - Taxi Receipts

When businesses begin evaluating marketing strategies, many start
with basic print or television advertisements. The importance of
choosing the proper medium can be the difference between a
successful, effective campaign and a campaign, which flops. With
all the types of advertising out in the world today, every
company is looking for that new and innovative idea for great
exposure.

Taxi advertising (http://www.taxiadworks.com/) is just one of the
many varieties of outdoor advertising. The three main forms of
this subset are wrap advertisements, trunk advertisements and top
of hood advertisements. Some people will often neglect these ads
since there are so many of them out there, but the truth is
people are almost forced to look at these advertisements when
they are stuck in heavy traffic or stopped waiting at a
crosswalk.

An innovative form of taxi advertising will soon be introduced to
the Boston market; putting ads on the back of receipts handed out
to cab customers. This works by handing out receipt rolls with
company ads on them, onto which the Taxi Drivers print their
receipts and hand them to customers after every ride. These ads
could consist of anything imaginable that would fit on the normal
size receipt. In heavily congested cities or cities that are
temporary homes to business travelers, this form of marketing has
the opportunity to be effective in the taxi advertising market.

A similar type of advertising has been previously applied to
Mexican cities. I personally was down in Cancun last year and
upon paying the bus toll or taxi tab, a small slip receipt was
handed to me. Generally these receipts had discounts to Mexican
outlets, restaurants or entertainment shows. The slip ended up
being useful as we were able to save money on our dinner at the
Hard Rock Cafe.

In Boston alone, approximately 45,000 people take a taxi every
day of which 80% request a receipt. Therefore, about 35,000
people are currently being missed as potential targets for Boston
cab advertising (http://www.taxiadworks.com/) per day. This is a
relatively small portion of the market, as Boston is not even
considered in the top 20 for largest US cities. Much of the
general target market would consist of business travelers. These
businessmen do not have cars in the cities they travel to, and
furthermore, they need to obtain a receipt for the cab trip in
order to be reimbursed for their expenses. Thus they must pay
attention to what is being handed to them. Make this relevant,
and you have an interested potential customer.

Advertising in the United States last year totaled over 400
billion dollars. Traditional forms of advertising are now
expensive and over-populated. As the market for traditional
advertising declines with the fragmentation of consumers into
tight groups, this ads one more way to target a particular group.
Taxi marketing (http://www.taxiadworks.com/) thus provides the
ability for a business to reach a wide audience, at a more
reasonable cost than other forms of advertising.

2 comments:

Anonymous said...

The information here is great. I will invite my friends here.

Thanks

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