How is COVID-19 Impacting the Advertisement on Valet Tickets?
Valet Tickets: learn about the impact on the advertising industry.
COVID-19 and the Advertising Industry
By the end of second quarter of 2020, Barron’s projects that ad agencies would have lost billions of dollars from their income statements, leaving the future of media businesses endangered, if not crippled. Prior to the coronavirus outbreak, in December 2019, the U.S. ad market was projected to grow by 4.4%, mostly from selling ads related to politics and sports. But as of March 2020, revised forecasts indicate that Print and radio ad revenues are expected to drop by 25.4% and 14.1%, respectively, while OOH advertising will drop by 11.8%.
The business of marketing is changing in the unprecedented crisis caused by COVID-19. Marketers are forced to adapt in these challenging times and pivot when needed while optimizing performance throughout the crisis.
A survey conducted by the platform Numerator indicated many industries are shifting their advertising messaging to in-home options. As example, restaurants are pivoting to food delivery message. Numerator reported that Burger King and Little Caesars are promoting new delivery options available in their stores.
Adzze has been working with its clients to adapt to a more sensitive message. The team has been extending the capabilities to offer advertising options that can reach the consumers at their safest place: at home. One of these concepts uses pizza boxes as advertising space that gets delivered at the homes of the audience.
Advertising on Valet Tickets: what is changing
Advertising agencies use the valet tickets as their advertising base for promoting the brands. A valet ticket is issued to the car owner when he arrives at a shopping arcade, a hotel, restaurant, or any parking lot of a building or an event. The valet ticket stays with the owner as long as they shop, dine, or spend time in the recreational zone. There are numerous ways in which the valet ticket can be given to the car owner. It can be either placed on the car dashboard or tied to the car keys. The valet ticket could be retained or given back, depending on the policies of the valet parking agency. In some cases, when the customer leaves, a part of the valet ticket is torn and given back to the owner. This portion given to the owner bears the brand endorsement. In all these cases, one thing is common; the valet ticket is retained by the customer for a considerable period of time. This makes the message contagious as people discuss the brand instantly on seeing the ads.
Here some reasons:
Advertising on valet tickets is an exclusive form of promotion where the customer becomes aware of the brand as a very close level.
The valet ads are handed personally to the customer hence the exposure time and recall rate of the product advertised is high.
It’s an innovative advertising method. Customers would be impressed to see brands adopt such advertising methods which interact with customers at a personal level.
There are no middle-men involved to spread the brand awareness. Hence, these form of advertising works very well for high-end customers who expect personal attention.
Products that aim towards high-end customers have to be advertised in a strategic manner which is different from standard marketing campaigns. The personal touch, interactive nature, and user experience have to be imbibed with the advertising techniques for premium clients. When excellent valet services are provided, the advertising on valet tickets also scores bonus marks.
Out-Of-Home Ads are declining
Recently the Interactive Advertising Bureau surveyed nearly 400 media buyers and brands. The results were surprising: 74% think the coronavirus pandemic will have a larger impact on their advertising spend than the 2008 financial crisis According to the President of Interactive Advertising Bureau, David Cohen, “Typically marketers will press pause for a moment, take a breath, assess the situation, replay and reevaluate.”
Traditional out-of-home advertising is expected to take the biggest hit. The estimated ad spend decline is 51% for March and April and another decline of 41% for May and June 2020. Traditional OOH is largely impacted considering far fewer people are outside reducing the appeal and effectiveness of billboards and digital displays.
Fortunately, Adzze’s new age marketing strategies offer innovative ways to navigate the storm and help brands remain in business. Unique advertisement ideas have surfaced across the landscape; these strategies include placing ads on door hangers that can reach the consumers at their homes. As simple as they sound, they generate guaranteed impressions delivering the ads at consumer’s homes.
Door Hanger Advertisement
The message of the advertiser is printed on door hangers and placed on the doorknob of households. Door Hanger Marketing is an unconventional marketing tactics since the targeted audience do not expect to see the ad hanging on their doorknob. The surprise effect of seeing flyers door hangers causes a cognitive stimulus on the consumers which enhances the assimilation of the message and makes it memorable. The households can be targeted by specific demographics and the advertiser must partner with the capable Door Hanger Advertising company to ensure to track the door hanger delivery to the targeted addresses. Typically, the return of Door Hanger Advertisement program is 3x, this means for every $1 invested, the advertiser receives $3 back (you can see more details on the ROI calculation at the end of this article).
Recently, a study from Bain & Company found out that digital advertisement is less effective than traditional media in terms of getting consumers to remember it. Recent studies by the research firm Lumen confirmed that only 9% of digital ads are viewed for more than a second. The study has used laptop-mounted eye tracking cameras on 300 consumers’ laptops to collect visual data on what they notice when they are online. During the study it were recorded 30,000 minutes of data, with evidence relating to around 15,000 digital ads.
How do Door Hanger Advertisement solve this problem?
First of all, door hangers are noticeable. They are delivered directly to the door and not with junk mail in the mailbox — which many consumers throw away immediately. The recipient must touch your Door Hanger Ads in other to remove it from the door, so it is impossible to be ignored. Studies demonstrate that ads that include an element of surprise, they achieve consumers attention creating a cognitive stimulus making them memorable. This improves the assimilation of the advertising message. Think about how many mails did you receive vs flyers door hangers in the past 2 weeks? The fact that Advertising Door Hangers aren’t so common make them more memorable increasing the brand lift.
Adzze is currently shifting the advertising models to a more sensitive approach by reaching consumers at the safest place: their homes.