Moove Launches Vehicle Advertising

In today's economy, ride-hailing services have become a vital source of income for countless individuals globally. Drivers for logistics solutions on ride-hailing and last-minute delivery platforms often face financial challenges due to limited access to traditional banking services, which can restrict their economic growth and stability. 

As a mission-led company, we are focused on democratising access to financial services for gig workers globally, empowering them to become productive and successful mobility entrepreneurs. We aim to give our customers access to affordable vehicle financing while creating job opportunities and empowering a new generation of mobility entrepreneurs. Alongside our revenue-based financing solutions, we are developing an ecosystem of value-added products that include comprehensive Asset Insurance, Free Vehicle Servicing, and Health Insurance that also covers partners and 2 dependants. 

We are proud to be now rolling out Vehicle Advertising in South Africa, Ghana and across our 4 markets in India, which will allow our customers to leverage the power of the exposure that their vehicles receive and draw an additional income stream. 

The recent introduction of advertising for our customer's vehicles, accompanied by a revenue-sharing model, brings forth a new avenue of income that holds immense significance for those who often find themselves underbanked. Let’s explore the reasons why this added stream of income is so significant for Moove customers:

Increased Financial Stability

For many underbanked ride-hailing drivers, financial stability is an ongoing concern. By incorporating advertising on their vehicles, drivers can generate an additional income stream that supplements their earnings from passenger fares. This diversification of income sources provides a safety net against fluctuating passenger demand, surge pricing, or other factors that can impact a driver's earnings. The revenue generated from advertising helps to stabilise their income, offering a greater degree of financial security.

Access to Banking Services

Underbanked individuals often face challenges when it comes to accessing traditional banking services, such as opening a bank account or obtaining credit. These limitations can hinder their ability to save, access loans, or build a credit history. However, with the introduction of advertising revenue, Moove customers can receive an additional income stream through our digital payment platform, The Moove App and Wallet. This allows them to receive payments directly, effectively providing a banking alternative and expanding their financial options.

Overcoming Income Disparities

The underbanked population often faces income disparities due to limited access to financial services, which can exacerbate existing socioeconomic inequalities. By introducing advertising revenue, we hope to further reduce income inequality by enabling underbanked drivers to access additional sources of income that were previously out of reach. This financial inclusion helps bridge the gap between underbanked individuals and the broader economy, fostering a more equitable society.

What does vehicle advertising offer 3rd party businesses

So why is vehicle advertising a prime advertising opportunity for businesses? The allure lies in its ability to connect with potential customers through various touch points. There are several touch points that vehicle advertising offers. 

First and foremost, internal and cabin advertising provides an exceptional opportunity to engage a captive audience. Picture this: each vehicle completes around 50 trips per week, with an average trip duration of 40 minutes in a Moove vehicle. This means that during these commutes, passengers are captured within the confined space, making them a receptive audience for each message. It's a unique chance to capture their attention and leave a lasting impression.

What truly sets vehicle advertising apart is the diverse range of passenger profiles it caters to. With every trip, businesses gain exposure to multiple demographics, broadening their reach and potential customer base. Consider the fact that approximately 2.4 people accompany each trip—this translates into an astounding 8 million impressions per week. This staggering number only adds to the public exposure your brand receives as the vehicle traverses the cityscape daily.

In essence, vehicle advertising provides an unbeatable platform for businesses to showcase their products or services. It offers a captive audience and a vast range of potential customers from diverse backgrounds. The sheer number of impressions generated each week is a testament to the immense reach and impact this form of advertising can achieve.

Hassle-free revenue sharing.

Moove simplifies the process of generating extra income by handling all aspects of advertising, including dealing with advertisers, managing terms and conditions, placing and removing ads, facilitating payments, and depositing revenue shares directly into the customer's bank account. Various advertising options are offered ranging from door branding and internal seat-back posters to full vehicle wraps.

Conclusion

The integration of advertising onto Moove financed vehicles, accompanied by our revenue-sharing model, holds immense importance for our customers in today's economy. It offers increased financial stability, access to banking services, entrepreneurial opportunities, and a means to overcome income disparities. Furthermore, it promotes professional development, enabling drivers to enhance and broaden their economic horizons. By harnessing the potential of advertising revenue, we aim to play a pivotal role in empowering underbanked individuals and creating pathways to financial inclusion and economic growth.