Feature: Taxi Advertising On The Move
More than 11 million adults have seen a taxi ad within the last week, according to recent TGI research, and Lloyd Kesner, sales director of Taxi Media, is convinced that taxi advertising is becoming an efficient and cost effective way of targeting mass-market audiences.
Traditionally, taxi advertising has been relatively expensive and time consuming way of reaching consumers, with the cost and effort involved in creating full liveried cabs causing many brands to think twice about using the medium. However, over the last few years there have been a number of developments within the sector, which according to Kesner have led to increasing creativity and value for money.
Kesner is aware that taxi advertising is not the most glamorous medium, but is convinced that the sector is becoming more sophisticated in terms of what it can offer advertisers. He said: “In the past travel & tourism, finance and FMCG brands have been the most heavily associated with taxi adverting, but now it appeals to anyone wanting to raise brand awareness.”
Originally there was little on offer to brands other than liveried cabs, which are normally booked over the course of six months or a year and involve the taxi being completely re-sprayed. However, now advertisers can choose from a range of less expensive and more creative products, which Kesner argues allows advertisers to create tailored, time-sensitive campaigns. Options include vinyl superside panels, which run down either side of the cab and are designed to offer a cheaper, shorter-term alternative to the full liveried cab. Rear window panels and branded receipts also offer a cheaper option and brands looking to be more creative can place ads on tip-up seats in the rear of the cab, or have their product displayed inside clear plastic tip-up seats.
Nick Maddison, joint managing director of media buying agency Blade, says: “Taxi adverting now has a lot more to offer. Media owners are having to compete more to get business and this has led to livery costs halving over the last five years.”
Figures from Blade show the sector has experienced significant growth over the last decade, with revenue increasing from just over £5.7m in 1995 to over £19m in 2001 (see below). Kesner says that this is due to the increasing innovations on offer and the medium’s versatility in delivering brands to a diverse audience, including 16-34 year-old adults, housewives with children and ABC1 businesspeople.
Both Kesner and Maddison agree that taxi advertising will experience modest growth over the next twelve months. Kesner is cautious in his predictions for 2002 saying: “The future is something of a crystal ball at the moment. The sector has performed well in the past and we expect its success to continue.”
Maddison adds: “The sector is very much London-orientated and the capital has suffered as a result of the economic downturn. However, outdoor revenue is expected to pick up slightly over the next twelve months and we expect taxi advertising to follow suit.”
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