Are Uber & Lyft Ads Actually Viable?

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 15 March 2023

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2399, Neil and Eric talk about whether Uber and Lyft ads are actually viable. Uber’s new advertising model has seen huge growth, but is it honestly helping companies find new audiences? Find out which companies are getting the best results from their advertising dollars in their partnerships with Uber, Lyft, and others, as we break down just how viable these new advertising streams truly are! TIME-STAMPED SHOW NOTES: [00:20] Today’s topic: Are Uber & Lyft Ads Actually Viable? [00:37] The high rates of growth Uber is seeing with its new advertising model. [01:24] Learn which businesses are getting the best results from Uber advertising. [03:03] The rates you can expect to pay with new advertising streams from companies like Lyft, Uber, and more. [04:07] Our recommendations on who should be using Uber and Lyft advertising for the best ROI. [04:12] That’s it for today! Don’t forget to rate, review, subscribe, and check out marketingschool.io/newsletter for all the latest! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: Uber Ads Lyft Media Walmart Ad Center Target Weekly Ad CVS Advertising Kroger Advertising DoorDash Advertising Marketing School Weekly Don’t forget to help us grow by subscribing and liking on YouTube! Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Welcome to Marketing School, the only podcast that provides daily top-level marketing tips and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.5	Let's start leveling up your marketing knowledge with
0:14.0	your instructors Neil Patel and Eric Sue.
0:18.6	All right so we're going to talk about if Uber and Lyft ads are actually viable and if Walmart ads are viable if target ads are viable right
0:27.8	So I'm gonna pull off from this Wall Street journal piece. Neil did you check this one out yet or no?
0:32.1	I haven't read the article.
0:33.6	Okay. Do you know people who advertise on lift and Uber? Yep. So let's talk about this. So basically,
0:39.5	lift, Uber, Walmart, CVS, Kroger, DoorDash, they've all open kind of advertising businesses, right?
0:45.7	And they're all growing right now.
0:47.4	Some numbers to share here, so we passed $500 million in annual run rate for ad sales sales and that's based on the increasing
0:53.6	number of active advertisers that we have by 80% on a year on your basis.
0:58.0	Uber Chief Executive Dara cannot pronounce last name set on a call to discuss company earnings.
1:03.4	More than 315,000 businesses ran ads with Uber in the fourth quarter, nearly double the
1:09.4	company's 170,000 plus advertised it here earlier.
1:13.0	Uber sees more opportunity for growth,
1:15.1	given that only 25% of the company selling products
1:18.4	through Uber Eats are buying ads on a platform.
1:20.6	Uber is still targeting one billion annual ad revenue by 2024.
1:24.0	What are your thoughts?
1:25.0	It's a very viable model.
1:26.0	The reason it's growing is we know quite a few people that are running ads on Uber.
1:31.0	If you're a local business, it's amazing.
	...

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