EV charging stations are poised to generate new revenue beyond the sale of electricity, turning their networks into a viable, profitable business.
Brand perception matters
On average, millions of consumers have reported an inclination to engage more with a brand focused on sustainability.11 However, commanding the attention of these consumers in an oversaturated online space can be difficult, between “banner blindness” and digital screen fatigue.12 EV charger advertising tackles both realities: first, enabling splashy digital content that grabs the attention of consumers at unique moments throughout their days; and second, helping to ensure a more positive perception of the brand amongst climate-conscious audiences.
Climate change is not a temporary concern, unlike many other factors that can influence ad performance today (i.e. weather, news, and trending social media hashtags). More consumers, especially gen-Zers and millennials, are showing interest in interacting with brands that demonstrate a constant commitment to long-term positive climate action. Advertising on EV charging stations creates a unique opportunity for brands to authentically demonstrate this commitment.
A myriad of business opportunities
EV charging stations outfitted with ad displays are poised to generate new revenue beyond the sale of electricity, turning EV charging station networks into a viable, profitable business, versus a public utility working to offset operational and maintenance costs. Plus, as the display technology continues to evolve, the content these screens are capable of playing will only become more dynamic.
EV charger advertising enables splashy digital content to grab the attention of consumers and helps ensure a more positive perception of brands amongst climate-conscious audiences.
At the same time, in-screen sensors will become more capable of recognizing movement, and data from Wi-Fi-enabled mobile devices will make it possible to better measure the effectiveness of DOOH ads, such as those that run on EV charger displays. More tools will also emerge to help advertisers and EV charger owners use anonymized audience data to deliver messaging tailored to the demographics of the environment in which the charger sits. This will enable more granular audience targeting and make the medium even more attractive to advertisers.
All these developments point towards a bright future for EV charger advertising. While starting and powering an EV charger advertising network or inventory may seem daunting, leveraging cloud-based software tailored for digital outdoor advertising can streamline the process. As a result, scheduling can be automated; programmatic transactions are possible; and inventory can be rebalanced to accommodate more campaigns, optimize messaging delivery, and maximize ad profits.
Notes
1 See “Electric Vehicle (EV) Charging Infrastructure Market Size, Share, Trends, and Analysis by Region, Level, Power, and Segment Forecast to 2030,” published by Global Data. For more information, visit https://www.globaldata.com/store/report/ev-charging-infrastructure-market-analysis/#:~:text=The%20global%20electric%20vehicle%20charging%20infrastructure%20market%20will,rate%20%28CAGR
%29%20of%2018.5%25%20over%20the%20forecast%20period.
2 Read “Electric Vehicle Market Update: H1 2023 in Review,” by Priscila Barrera, published by Investing News Network. For more information, visit https://investingnews.com/electric-vehicle-forecast.
3 Consult “Net Emission Reductions from Electric Cars and Heat Pumps in 59 World Regions Over Time,” by Florian Knobloch et al., published by Nature. For more information, visit https://www.nature.com/articles/s41893-020-0488-7.epdf?sharing_token=9VBdz-6VbqF-yVdUSa1YBdRgN0jAjWel9jnR3ZoTv0OMBHrNGD6k2npei17x4aWWLctOfIoyfalbH9WNy5EPZJy9w30IYeodKn1h_MDWDHVs
Fp0mmyULysHIj9L3dHmXqwchSvZ42GIPpNYkjIyI-jbqfPasm5iotJlatJ78r_-0KRqb70vd_KoRzQR0OiFIybySQ-_FrdMxOsL-wFeZzg%3D%3D&tracking_referrer=www.cnbc.com.
4 Refer to “Most EV Charging Still Done at Home; Work, Restaurant Chargers Also Popular,” published by Canadian
Auto Dealer. For more information, visit https://canadianautodealer.ca/2022/09/most-ev-charging-still-done-at-home-work-restaurant-chargers-also-popular/#:~:text=In%20an%20effort%20to%20study%20and%20expand%20access,and%20half%20of%20respondents
%20also%20charge%20at%20restaurants.
5 Read “Economics of a Gas Station,” by Martha C. White, published by NBC News. For more information, visit https://www.nbcnews.com/business/business-news/economics-gas-station-rcna19516.
6 Consult “EV Consumer Behavior,” published by Transportation Energy Institute. For more information, visit https://www.transportationenergy.org/research/reports/ev-consumer-behavior.
7 See “Volta Formally Launches Volta Media Network: Connecting Brands to the Largest Audience Shift in a Generation,”published by Volta. For more information, visit https://voltacharging.com/press/volta-formally-launches-volta-media-network#:~:text=35%25%20of%20U.S.%20adults%20say,commits%20to%20various%20sustainability%20efforts.
8 Refer to “Over Two-Thirds of Shoppers Notice OOH Ads Enroute to Retailers, According to Research from OAAA & Morning Consult,” published by Yahoo Finance. For more information, visit https://finance.yahoo.com/news/over-two-thirds-shoppers-notice-120000891.html?fr=sycsrp_catchall&guccounter=1.
9 Read “Volta’s Consumer Study Reveals Climate is Top of Mind for 55% of U.S. Consumers and Advertisers Must Lead with Innovation to Sell to this Cohort,” published by Volta. For more information, visit https://voltacharging.com/press/climate-conscious-consumer-study-2022.
10 Consult “How EV Charging Boosts Retail Sales,” published by Greenlots. For more information, visit https://greenlots.com/wp-content/uploads/2020/11/Retail-Insights.pdf.
11 See Note 9.
12 Refer to “What is Banner Blindness? How Can You Avoid It?” by Kayla Carmicheal, published by Hubspot. For more information, visit https://blog.hubspot.com/marketing/banner-blindness?__hstc=186087094.f6e58543fe8962b222bc91b0d57d66ef.1692652861153.1692652861153.1692975532910.2&__hssc=
186087094.1.1692975532910&__hsfp=4076395092.
Catherine Lee is the product marketing specialist for Broadsign, a Montreal-based company specializing in DOOH software solutions.
