Car magnets are an extremely undervalued marketing tool that can pack a real punch when it comes to return on investment (ROI.) Most businesses don’t spend nearly enough time on self promotion, or can’t afford the marketing budget to advertise to a large audience and that’s why it’s key to find low cost – high converting ways to market your business.
There are a few key points to properly assessing a marketing investment , keep on reading to learn about our findings.
Budget & Cost
Most marketing opportunities will pricing models that measure reach, engagement or conversions. This usually means you’re paying per result you get and it’s rather hard to hack those metrics to get extremely low-cost results.
Warning shameless self-promotion alert:
Knowing your audience is crucial when paying for on-going marketing endeavours as you want to make sure that the reach, engagement or conversions are targeting your audience. On the other hand, since car magnets are a one-time cost it doesn’t really matter that there’s no filter on your audience since even if you only get 1 call-back conversion, you investment will likely multiple by 10x or 100x.
Some campaigns are geared towards brand awareness, since impressions are key when it comes to brand awareness. The more times your prospect sees your logo or catch phrase the more familiar your brand becomes to them and when you finally get in front of your prospect, your chance of conversion is much much higher. Car Magnets will get you in front of all kinds of people every time you drive to work, pickup groceries, park downtown or even meet a prospect at their home since their neighbors may become your future prospects.
So what’s the ROI on a car magnet?
It depends on your product/service offering, but since you can get a car magnet starting at $23.00 I think it’s safe to say you can easily 10x if not 100x you investment if not 1000x your investment over the lifetime of the magnet.