The Benefits Of Lyft Advertising For Businesses And Rideshare Drivers
Today, market demands are always changing. For advertisers to catch up, they will need to understand the trends in their industry. Then, they need to adapt to create a winning and profitable advertising strategy.
What is one smart way that brands are now exploring to reach more customers? Advertising through rideshare rides. One of such is Lyft advertising. This model creates a one-on-one interaction between a brand and its potential customers. Lyft is a major player in the rideshare industry, second to Uber in market share. This is why smart business owners should start paying attention to Lyft advertising. This is so they can connect with prospective buyers.
This article will talk about Lyft advertising. It will also discuss how businesses and rideshare drivers can benefit by using it.
What Is Lyft?
Lyft is a rideshare company. They fix rides to convey passengers to their destination within a short period. Lyft allows passengers to arrange for a ride on their smartphones. In turn, Lyft will notify drivers that are nearby to convey them to their destination.
Lyft has a strict review and verification procedure. Drivers must undergo this before getting accepted to work with the company. Before anyone can be considered for approval, they must:
- Be at least 21 years old
- Have a valid driver’s license
- Have a clean record
What Is Lyft Advertising?
Other than ride-hailing, Lyft allows its drivers to use their cars to advertise. In the course of taking a ride, rideshare passengers get to watch ads that are targeted towards them. These ads are business advertisements that are within their locality.
How Does Lyft Advertising Work?
Lyft advertising uses geo-targeting to deliver relevant ads to riders. Geo-targeting focuses on a specific group of audience, based on their geographical location. With geo-targeting, advertisers can connect with their target audience in a geographical location. They can do this with adverts that are the most relevant to them. This is done as soon as they enter a proximity that is marked for advertisement.
Lyft advertising can be effective if done right. This is because it is specific in scope and it is highly targeted.
Types Of Lyft Advertising
This involves wrapping the body of a rideshare car with promotional banners. These banners are put on the body of a rideshare car that drives within an area that the advertisers are targeting.
A promotional banner can cover the whole body or some part of their rideshare ride. This depends on the rideshare driver’s preference.
But, at times, on-car advertising can come in a different form. An example is Firefly’s mode of on-car advertisement. Firefly installs a display device on the rooftop of a rideshare ride. This device will display ads that are relevant to the specific location the car is in.
On-car advertisement is effective and preferable to billboard ads. Unlike a static billboard, on-car advertisement is mobile. It is also seen by a larger demographic of the target audience. It’s very affordable compared to billboard adverts.
Drivers are paid based on how much time they spend on the road. Their pay is also based on the volume of promotional banners that cover their car.
Here, a tablet is installed in the backseat of a rideshare ride. This tablet will display adverts to Lyft’s passengers as they are taken to their destination.
In-car advertisements can match, and even perform better than TV ads. This is because it is highly targeted and compelling. It also converts better than TV adverts that target the general population.
Pros Of Lyft Advertising For Advertisers
Improved user experience
Lyft advertising allows advertisers to reach and serve their potential customers better. This is a major advantage. Lyft advertisement is specific in scope. It serves its audience with adverts that offer solutions to their day-to-day problems.
Lyft advertising also allows advertisers to run different campaigns. These can target different groups of people in the same geo-location. This helps advertisers send personalized adverts to their audience. It also helps in building a stronger connection with them.
Lyft advertising allows a business to reach people in its community with a solution to their problems or make their lives better. With time, a business’ great performance will build a reputation for itself locally. Then, it will become an integral part of the community it is in.
Advertising on Lyft also allows advertisers to take part in relevant local events. With targeted ads to a specific region, advertisers can boost their sales and add value to their customers. This is a great marketing strategy. That’s because advertisers are offering their services or products to an audience that needs them.
It Builds Trust
Lyft advertising allows advertisers to build trust with their potential customers. An advertiser business site is situated within their targeted audience location. So, they are more confident to buy their products or services. This makes the sales process simple and straightforward.
It Allows Advertisers To Reach More Audience
Are you looking for another major benefit of advertising on Lyft? Advertising on Lyft helps businesses to reach more potential customers. This is because Lyft advertising involves the use of rideshare cars which is used by a lot of people today.
Cons Of Lyft Advertising For Advertisers
How well an ad is optimized is important when it comes to Lyft advertisement. At times, advertisers can make a mistake of targeting the wrong type of client or geo-location, that is not relevant to their business.
Pros Of Lyft Advertising For Drivers
It Offers A Smart Way To Earn
Lyft advertising allows Lyft drivers to earn extra income. How much a driver will earn depends on the rate at which passengers interact with their ads. Payment will be made monthly or weekly. This depends on which rideshare advertising company they are working with. It is a viable opportunity for Lyft drivers to earn passive income.
Drivers Get To Add Value To Their Passengers.
Apart from earning, Lyft advertisements allow drivers to add value to their passengers. They can do this while taking them to their destination. Rideshare drivers serve as an intermediary between a passenger and advertisers. Their services or products offer solution to riders’ problems.
Cons Of Lyft Advertising For Drivers
Drivers Risk Being Scammed
Shady rideshare advertising companies have swindled a lot of rideshare drivers. Most of these companies attract naive rideshare drivers with offers and bonus packages. These shady companies demand money from drivers before their application can be processed.
Infringement Of Local Law
Another demerit of Lyft advertisement is that it is banned and forbidden in some states. Many rideshare drivers infringe on their local law by using their cars for advertisement. They end up paying a steep fee as a penalty.
Top 7 Companies You Should Consider For Lyft Advertising
Wrapify is one of the legit on-car rideshare advertising companies out there. The company will wrap either part of the driver’s car or the whole car with advert banners. Wrapify pays rideshare drivers per mile. Their daily earnings are tracked on the Wrapify app.
Drivers can earn anywhere from $100 to $500 per month. But, before Wrapify considers drivers, they will have to go through proper scrutiny. A driver that is eligible for consideration must be at least 21 years old and must have a clean record.
With Wrapify, advertisers can reach their target audience without breaking the bank.
This company approached on-car advertisement differently. Firefly installs a portable display screen on top of a rideshare car. This device displays promotions that are relevant within a particular geo-location. Firefly is only available in Los Angeles and San Francisco right now.
This is another good rideshare advertising company Lyft drivers and advertisers should consider. Carvertise launched in 2012. Since then, it has helped advertisers to reach more audiences with on-car advertisements. Because of their excellent service, they have gained the trust of advertisers and rideshare riders.
Carvertise has a screening process they take drivers through before they are accepted. After acceptance, their cars will be branded with adverts almost immediately. It has different payment plans. One of which involves parking a car branded with adverts in a place where there is heavy traffic. A driver can earn up to $100 to $200 monthly with Carvertise.
Car Bucks allows brands to connect with rideshare drivers who want to give ad space. The company will create a see-through vinyl which will be pasted on the rear window of a rideshare ride. Before Car Bucks considers a driver, they must have a clean record and a valid driving license.
Vugo is an in-car advertisement company. They display adverts on tablets installed in a rideshare ride. Vugo will serve passengers with different ads as they enjoy their ride.
Vugo will display short entertainment for passengers between advertisements. This could be visual or audio content. Ads that are displayed are tailored according to the audience’s locality.
Before a driver can be considering at Vugo, they have to enlist as an applicant. After, Vugo will put them on the waiting list until their application is reviewed. At this moment, Vugo is only available in four cities. This includes New York City, Los Angeles, Las Vegas, and San Francisco.
Tappin X is another in-car advertising company. They distribute targeted ads to a specific audience. These ads are displayed on a tablet fastened to the backseat of a rideshare ride. These ads can be local, national, or regional. Each ad category comes at a different price range. Drivers are paid per view in tokens. These tokens will be paid in real cash at the end of the month.
Tappin X also has a referral program. This rewards drivers with 10 percent of the total revenue of the person they referred. Tappin X has a decent pay rate which makes it one of the best Lyft advertising companies to consider.
Viuer has two main modes of rideshare advertising: in-car and on-car. As for the in-car mode, Viuer will give eligible drivers a free tablet to fasten to their backseat. This tablet will display adverts that are tailored to passengers in a locality.
Viuer will pay its drivers based on how well their passengers interact and engage with their ads. The company only operates in New York, Denver, Los Angeles, and San Francisco. Drivers can earn up to $600 every month.
Factors To Consider Before Investing In Lyft Advertisement As An Advertiser
Before you consider investing in Lyft advertisement, you should look at market research. This will help you determine if your products or services are in demand. It will also help you find out the best way to position your product or service to get positive responses from your target audience. Market research gives advertisers insights into what their competitors are doing.
The audience plays an important role in any ad’s campaign. So, an advertiser must conduct adequate research about their target audience. Audience research helps advertisers understand the pain points of their prospective buyers.
The more Intel an advertiser can get on their target audience, the better. This is so they can optimize their campaign to connect with their audience better.
What is the purpose of your campaign? Do you want to create brand awareness or are you looking to sell your products or services? It is best to have a clear goal before delving into Lyft advertising.
This is another factor that a business needs to consider before advertising on Lyft. As a business, your core message must be conveyed to your audience in a very clear and simple fashion. This implies that you have to make it relatable for your target audience.
A business should also consider its marketing budget and see if Lyft advertising is a great fit for it.
Important Factor Drivers Need To Consider Before Joining A Rideshare Advertising Company
A lot of rideshare advertising companies today are out to con innocent rideshare drivers of their hard-earned money. So as a rideshare driver, you should do your due diligence before joining any company. Only work with a company that is credible and legit.
Not sure how to do this? Check online for reviews. Consider the companies on this recommendation list. You can also ask your fellow rideshare drivers what company they are with.
Lyft advertising offers a great opportunity for businesses to connect with potential customers. They can convert them into paying customers through a simple, laser-targeted advertising model. For rideshare drivers, it is an opportunity to earn extra passive income. It is a win-win for all parties involved!
Table of Contents
With Scrollable Navigation
Chapter 2 – What Is Lyft?
Chapter 3 – What Is Lyft Advertising?
Chapter 4 – Pros Of Lyft Advertising For Advertisers
Chapter 5 – Cons Of Lyft Advertising For Advertisers
Chapter 6 – Pros Of Lyft Advertising For Drivers
Chapter 7 – Cons Of Lyft Advertising For Drivers
Chapter 11 – Conclusion