To make money to pay the rising cost of filling up, look no further than your car's outside. Drivers are signing up in record numbers for new companies that allow them to advertise their cars.
Wrapify and Carvetise are the main players in this market for roving billboards. They are looking for people who drive for a living. This could be for a rideshare or delivery company. But they also want to work with anyone who has a car and wants to make passive income by branding their vehicle.
Gas prices in the United States are at an all-time high of $5 per gallon. Motorists are trying to find ways to offset these costs.
Greg Star, cofounder of Carvetise said that there was a rise in driver signups due to rising gas prices.
Here's how it works. Based on the vehicle type, location, and other factors, drivers are matched with different ads campaigns. The company matches drivers with campaigns. However, car owners have the option to decline to promote for brands they don't want to support. To be eligible, applicants must travel at least 1,000 miles per month. Once they sign up, they can track their mileage using an app that they download.
Drivers can typically expect to make between $250 and $1300 per month from a given advertisement campaign. On the low end of ad earnings, 50 gallons of gas can be earned in states where gas costs less than $5 per gallon.
Sign-up bonuses of $200 are automatically given to Carvetise drivers. They then receive a flat rate $100 per month. You can also make extra cash by attending large sporting events, conferences and going to concerts.
Drivers who choose to take part in "swarms", which are attended by vehicles advertising the same product at large events, can make even more money.
Advertisers can be found in a variety of industries, including higher education institutions and medical companies. They also advertise a variety of businesses such as Netflix, Planet Fitness, and Wawa convenience store chain.
Star anticipates that more companies will look to independent drivers to advertise as rideshare companies take over marketshare. Star stated that while we have seen ads for taxis and buses for decades, advertising on rideshare vehicles is a modern version.
Nielsen market analytics found that wrapped vehicles are second in outdoor advertising popularity, after billboards.
Wrapify, another company that matches drivers with advertisers, does not pay drivers a flat rate. Instead, they pay drivers according to their performance. This is largely determined by how many miles they drive. Wrapify estimates that a driver who has a fully wrapped vehicle will earn between $264 to $452 per month.
Kathy Kristof is a gig economy expert who founded SideHusl. SideHusl reviews hundreds of sites that help people make extra money. She said that the market for rolling ads has "completely back" and is "booming" since it was affected by the COVID-19 pandemic.
She said that almost any company would advertise on a bus or billboard. Advertisers are always looking for new ways to reach customers without spending a lot of money. This is an opportunity that anyone can take advantage of if they have a car.
Drivers who work for Lyft, Uber, and GrubHub are especially sought after by companies. Kristof stated that drivers who work for services like Uber, Lyft and GrubHub are in high demand because they travel to busy areas at high traffic times. Kristof also noted that those with long commutes are in high demand.