That's the only way using any kind of compound/polishes or paste waxes. When I painted cars. I use to buy the cheaper tapes just for the detail part. Beats the crap out of trying to clean that stuff off plastics. If you ever do get some on them. Best thing I found to clean it off is an eraser and to me the white type are better than the pink but either will work. Just don't use the white ones that say for ink way to ruff and will mar/scratch.
The new SI02 stuff is plastic safe and does protect them also. Will not restore if faded though.