It's often said that marketers know half of their marketing efforts work, but they don't know which half. Even with today's technologically advanced tracking techniques, it's often impossible to tell what really motivated a customer to take the next step in the purchasing process. That being said, there are certain marketing strategies that are known to work; and yielding a great return on investment comes down to knowing where your marketing dollars are best spent.
This is the fourth installment in a series that pits two well-known, yet decidedly different, marketing strategies against one another to determine which gives you the most bang for your buck. Without further ado, let's see who comes out on top in a bout between magnet marketing and television advertising.
Television advertising is highly visible during the Super Bowl, when many watch for the commercials alone – which cost more than a few pretty pennies. Otherwise, knowing the true value of television advertising is difficult. For starters, Nielsen ratings only really report how many televisions are on a particular station, not how many people are watching. Commercials are a great excuse to go to the kitchen for a snack. What's more, TV recording technology has made it easy for customers to skip through commercials altogether.
Magnets can be highly visible, either on refrigerators, vehicles or anywhere else there's a magnetic attraction. For this piece, let's focus on refrigerator magnets, since they're in the home like most televisions are. While your customers are skipping commercials to go to the kitchen, they can get a dose of your brand image every time they get something out of the fridge. Commercials change every 30 seconds, your magnet does not. Advantage: Magnets
As stated, television commercials change every 30 seconds. Maintaining an ever-present television campaign is quite costly. But getting your magnets on your customers' refrigerators can be as simple as making them useful – and your customers will see them time and again, over and over, potentially for years or even decades, for the price of a single magnet. Advantage: Magnets
What value do television commercials add to customers' lives? Not much, apparently, since we've been looking for ways to skip through them since the VCR. Magnets, on the other hand, are voluntarily placed on refrigerators by customers themselves. While a television advertisement might reach a higher volume of people, magnets that make it on refrigerators reach a highly targeted customer base that's likely to buy. It's easy to add value to magnets, too, simply by knowing what your customers like and catering to it. You might, for example, print a sports schedule along with a coupon code for all purchases in a given year on your magnets. Advantage: Magnets
While television advertising has its purposes, you will get more bang for your marketing buck by printing and distributing magnets. Where television advertising is largely ignored, costly to maintain and valueless to many customers; magnets are more visible, make repetition easy and add value to customers' lives. If you haven't tried magnet marketing for your company, you're missing out on a cheap opportunity to grow your business.
Read the previous rounds:
Round 1: Postcards vs. Facebook
Round 2: Catalogs vs. Ecommerce
Round 3: Posters vs. Radio Ads
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