What is the Real ROI of Custom Magnet Marketing?

There are many creative ways for companies to engage in marketing. A number of companies have used promotional products to expand their brand rich over the years. They usually distribute household items, such as shirts, hats and ball point pens with their company name and logo to generate exposure. 

These types of branded products can be very good for marketing. However, other products can be even more useful in certain industries and may be ideal for reaching certain demographics. Custom printed magnet marketing is a new strategy that some companies are exploring. What are custom printed magnets and how did they support a branding strategy? 

Overview of custom printed magnets in branding

 Custom printed magnets are magnets that have the company name and other trademarked identifiers printed on them. They are produced by custom printing companies with an expertise in branding strategies. They may be used at the company location, sold through retail channels or gifted to customers through various distribution channels. 

 In order to appreciate the benefits of using custom printed magnets over other branded products, such as shirts and pens, it is important to understand the applications they will most likely be used for. Magnets will be generally placed on refrigerators, but they can be used in cars and other projects as well. 

 A company can benefit from using branded magnets if: 

  • They are going to have customers visiting their premises frequently and have a likelihood of seeing the refrigerator. 
  • They intend to give the magnets out as gifts to customers that are likely to place them on their own refrigerator. 

Due to these benefits, magnets with custom printed logos and insignias can be very useful in the hospitality industry. This is especially true for small eateries where refrigerators and appliances might be placed near the customers. They could also be helpful for branding in the manufacturing sector. Suppliers and other partners will often see the magnets when they visit the facilities, which helps reinforce the brand in their eyes and makes them more likely to recommend it to other people in the industry. 

 However, there are plenty of less obvious industries that can benefit from them. Companies that sell economical consumer merchandise are another great example. These companies can easily sell the magnets along with their other materials. They can sell a magnet for a slight markup to cover the production costs, while also benefiting from the long-term branding visibility. In these industries, companies can actually have a chance to create a cost neutral marketing strategy with their magnets. This would not be possible with most of the marketing strategies. 

 How do you determine the ROI of Marketing with custom magnets? 

 The ROI of using branded magnets can be very high, but it is also difficult to quantify. Here are some factors that you will need to consider when trying to estimate it: 

  • The number of people that will visit customer homes if they put the magnets on their refrigerators 
  • The likelihood that customers are going to put the magnet on the refrigerators 
  • The net margin that you earn from the sale of your magnets (assuming that the magnets are being sold and not given away for free)
  • Foot traffic at your business if you are using the magnets there 

 Determining the return on your investment when creating a custom printed magnet marketing strategy is going to take a few calculations, but you will probably realize that it is well worth the investment.

Ryan Kh

Ryan Kahn, known as a career coach and television personality. Ryan Kahn is founder of The Hired Group, author of Hired!