Before you get excited about new games and movies to watch, know that Lyft Media is not a new streaming app for Lyft drivers.
Lyft has come to notice the potential for its rideshare drivers to serve as more than just vehicles that take passengers from place to place. Anywhere you find a captive audience, you’re also likely to see ads strategically placed to get people’s attention. Now, with the launch of Lyft Media, they’re counting on drivers to be vehicles for displaying ads and engaging riders in advertising materials.
This strategy is pretty slick, considering that it can add to Lyft’s revenues at a time when the rideshare biz has to hustle to overcome changing lifestyles and high gas prices. But what does this mean for drivers?
This blog post will show you how you can benefit from Lyft Media. Here’s are some questions we’ll address:
What is Lyft Media?
Lyft’s foray into advertising isn’t entirely new. As far back as 2019, Lyft purchased Halo Cars, a company that makes rooftop displays that turn drivers’ cars into moving ads for places, products, and services. With the pandemic being the drag on business that it has been, Lyft had not done a lot to capitalize on this acquisition—until now.
The rooftop ads are definitely a part of Lyft Media, but over the last few years, Lyft has folded Halo into a comprehensive strategy to form an advertising entity that includes a whole lot more. Lyft Media is a state-of-the-art, innovative, and pervasive offering that advertisers are eager to use as a platform for getting their brands seen by people everywhere.
Lyft intends to create the world’s largest transportation media network. Lyft Media will reach people through ads placed on the car, in the car, on the streets, and in the phone. The ads will target passersby who notice the rooftop ads and bike rental kiosks. Once inside your car, rideshare passengers will be enticed to engage in the ads Lyft presents to varying degrees. Advertising through rideshare transportation in this way allows advertisers to target their ads far more effectively than online banners or pop-ups, let alone the prehistoric relic known as print media.
Drivers will also be a big part of the success of Lyft’s new program, obviously. How will Lyft Media help Lyft drivers?
How does Lyft Media benefit drivers?
First, the fact that Lyft is capitalizing on its leverage with advertisers, by providing millions of sets of eyes, will boost company revenue. When Lyft does well, drivers benefit because the company has more funds for incentives and has less need to increase their take rate on drivers’ rides.
More direct ways of increasing Lyft driver pay are in the offing, too. There will be plenty of ads within the Lyft app that offer discounts to your passengers. Engagement of this type is something that could make them favor Lyft over competing rideshare options. This means more business for you.
Installing a rooftop screen or an in-car tablet could benefit you even more. Drivers can even benefit by the additional focus on ads at Lyft bike rental stations. The visibility and discounts offered through ads posted there can lead people to think about Lyft first when they order up a rideshare trip. This also translates into more rides, and more money, getting sent your way.
One of the things Lyft is sure to include in its new offerings is better opportunities for customers to tip drivers more. That’s some nice icing, to be sure, but it’s the cake that really matters. Let’s go beyond stuff that’s as basic as how to use the Lyft app as a driver and get to the ingredients that will make Lyft Media a sweet deal for drivers.
How can Lyft drivers participate?
There are two basic ways you can benefit from displaying ads for Lyft. One is on your car, and the other is in your car. Here’s how it breaks down:
On-car
Lyft Halos
No surprise here. Lyft Halos are the top-of-car smart display screens that allow advertisers to change the messages being shown based on time of day, location, and other variables. You’ll contribute to Lyft Media’s success by carrying their revenue-generating ads wherever you go.
In-Car
Lyft Tablets
When you carry a Lyft tablet in your car, your customers will get an interactive route map, integrated music, ads geared to precise locations, and…easy driver tipping. That part might be an added incentive Lyft throws in to get drivers to carry the tablets, but hey—we’ll take it!
Lyft Skins
Truth is, drivers might not even get too see this one up close, but it’s so cool we didn’t want to miss mentioning it. Plus, this is really the “in the phone” part. Lyft Skins give passengers the ability to interact with different brands through discounts offered on social media. Then car icons (branded to reflect the product the customer is into) appear in the Lyft app so the customer can click and cash in on the discounts.
The Lyft Media program is being rolled out slowly, and so far it’s available only in Los Angeles, Chicago, San Francisco, and Washington D.C. There are plans in the works to have tablets in 25% of all Lyft vehicles in these markets. Maybe there’s a tablet in your car’s future.
Keep watching the Gridwise blog for more news and details about the program.
Stay on top of this and other driver-related info with Gridwise!
Gridwise is always on top of any news that can help drivers out, so make sure you download the #1 rideshare and delivery assistant. There are tons of features you’re going to love, including
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Where to Drive and When to Drive, insight that breaks down where and when you can make the most money.
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Discounts and deals for drivers to lower the cost of doing business. Money-saving deals like Gridwise Gas keep your expenses low and your profits high.
