You must have seen some cycle rikshaws or auto rikshaws with hoardings. Even public transport buses and trucks painted with ads can be seen everywhere. But now, a start-up EMIfreecar is writing a new chapter to outdoor advertising where-in luxurious salons like AUDIs will display advertisements. This Delhi-based startup founded by Sachin Rastogi builds on the get-paid-to-drive concept in which the owners are paid money to put up advertisements on their cars.
How EMIfreecars Works
EMIfreecar is a win-win situation for both car-buyers and advertisers. For car buyers, as their EMIs are taken care of. And, for advertisers as they get a new platform for their campaigns.
The customer pays 25% down payment of his new car and the venture pays 3 out of 5 years’ worth of EMI in exchange of 70% body space of the car for advertising. So, the customer can now dream for a bigger car as he would be paying a lesser amount. The owner will have to drive the car for a minimum of 1500kms every month, failing which he will have to pay the EMI of that month.
According to an Outdoor Advertising Magazine, mobile media billboards have a 97% recall rate. This has helped the company to lure marketers and advertisers. Now billboards may have to revise their prices to be competitive enough as they could attract advertisers at cheaper prices.
EMIfreecar is currently running its services in Delhi and has recently been launched in Mumbai as well. It is currently planning to reach a target of 200 cars in both the cities before approaching advertisers. With this, they want to make sure that they have enough space in the city to attract big businesses.
The founders plan to make it a 50 crore business by the end of the year 2015. As the auto sector experienced a decline first time in many years, this will also help increase the sales of vehicles as it would become easier to afford, despite the rising prices of fuel.