Looking for a new place to advertise your business? Think inside the box cab and try Taxi TV ads. Taxi TV screens are popping up in cities all over the country. You reach locals and out-of-towners, who can interact with the screens, as they sit in traffic.
Brokers in New York City (Manhattan), and perhaps other metropolitan areas, have a tough time placing outdoor signs advertising their house listings and open houses. TaxiTV video advertising provides an alternative marketing venue. NYC has more than 11,000 of the ubiquitous yellow menaces racing through the city streets, or more often stuck in cross-town traffic, armed with these screens. The typical NYC cab ride takes 13 minutes and the ads capture an estimated 300,000 to 400,000 eyeballs (and their owners) per day.
Real estate brokerages like The Corcoran Group are jumping on board this new outdoor (?) advertising medium. Ads are purchased on a CPM basis (cost per thousand) with the advertiser paying only when the ads are run. Some ads are targeted to specific areas of the city. The ads are not cheap, running between $5,000 and $10,000 per week. Yikes! Almost as bad as the cab fare.
Do they work? Christina Lowris, Corcoran’s executive VP for marketing and advertising, says their touch through banner ads, which focus on a particular listing, have been very effective. Last month, actress Heather Tom bought a co-op apartment she saw on Taxi TV. She called the broker from the cab!
Competitors, getting wind of Corcoran’s blue ocean, are jumping in.
Clear Channel runs NY10, New York’s taxi entertainment network. Sample video here.
Taxi LCD player. Just $96 from China
Hmm… Why not create a DVD of property listings in your market (get the listing agents’ consent if required) and run them on a loop in your car as you’re tooling folks around town?
Sources: The Real Deal, Bright Box Media, NY Magazine.
Technorati Tags: real estate marketing, video, video ads, advert, corcoran, taxitv, clear channel, sellsius
