The cost of customized medals depends on several factors, including the material, size, complexity of the design, and the number of orders.
Generally speaking, medals made from precious materials such as gold or silver cost more, while medals made from common metal alloys or plastics cost less. In addition, larger sizes and complex designs of medals usually increase the production cost. The number of orders is also an important factor that affects the cost. Mass production can reduce the cost of individual awards.
Therefore, we recommend customers consider the required material, size, and design requirements in advance when customizing medals and choose the right order quantity according to the actual demand in order to get the most cost-effective customized medals solution.
The Cost of Customized Medals Budget
The cost of awards depends on several factors, including material, process, order quantity, and so on. Design complexity, material selection, production process, packaging methods, and transportation distance are various factors that affect the cost of producing customized medals.
Design
Many event decision-makers think that designing a superb award medal needs to be expensive. However, the truth is that some companies with their own design teams offer free award designs.
For example, Global Art Gifts, one of the few medal manufacturers with a design team, provides that all you need is the vector or even just a hand-drawn drawing, and they can design a stunning piece that matches your event.
Manufacturing
Material Selection
Material is a key factor in the cost of producing award medals. Some common types of awards are metal, acrylic, wood, and ceramic. Thanks to metal’s moldability and texture, metal medals are usually more expensive.
Craftsmanship
The production process of medals is very complicated. As we all know, metal materials need to undergo die-casting, engraving, grinding, polishing, electroplating, coloring, etc. To make customized awards last longer, they also need to undergo a series of treatments, such as oil sealing. Other materials, such as acrylic medals, also need to undergo processes such as molding and UV printing. There is no doubt that the production cost is an important factor in costing.
Packaging
Exquisite packaging can appear to have more commemorative value when the medal is awarded and has a better preservation effect. Of course, the more advanced and complex the medal packaging, the higher the cost of packaging. However, when you receive a running medal packaged in an OPP bag and a triathlon medal packaged in a nice velvet box, it is obvious that you will prefer the triathlon medal packaged in the box.
Transportation
The cost of transporting medals depends on the number of customized medals, their weight, the distance they are transported, and the way they are transported. Thanks to its own logistics network, Global Art Gifts can offer more favorable prices to allow you to reduce the cost of your budget.
The Application Market of Custom Medals
The custom awards market is an industry that provides customized and personalized awards for a variety of occasions and events, including but not limited to sports competitions, corporate events, school recognition, and more.
With the increasing demand for events, competitions, and souvenirs and the growing pursuit of personalization, the custom medals market is diversifying. The keywords “Custom Medal” and “Medal Design” have become hot spots in the medal market.
Target Groups for Customized Medals
Due to the uniqueness and commemorative value of custom medals, they are popular among event organizers and participants. Event Organizers
often use event medals as a gimmick to attract participants, while participants are keen to collect them as souvenirs and achievements.
For traders, customized medals can be sold on a wholesale or retail basis to various organizations and individuals, such as sports clubs, businesses, schools, etc. They can either customize event medals for event organizations or purchase large quantities of generic medals to sell online.
For event organizers of large-scale events such as sports events, cultural events, corporate events, etc., it is one of the main application markets for customized medals. Football medals, basketball medals, track and field medals, swimming medals, and triathlon medals need to be designed and produced by professional medal designers and manufacturers to ensure the creativity and quality of the medals.
The event directors of some large-scale events are accustomed to outsourcing the whole event’s promotion and marketing to a professional event planning company. The planning company will design the event sessions and promotional items program according to the event theme and seek cooperation from different suppliers for different promotional items. Among them, unique customized medals for the event, as well as some souvenirs, will be handed over to medal manufacturers for uniform production.
In the medals market, we see a group of individuals who are unique in their creativity and pursuit of excellence. This market brings together people from all walks of life, from athletes and coaches in the sports world to leaders and employees in the corporate world to students and teachers in academia. Whether it’s an exciting game, an event to motivate a team, or a ceremony to recognize an achievement, these medals are a testament to their hard work and a symbol of honor.
Personalized Medals Promotion and Promotional Activities
In conjunction with a market analysis of customized medals, there are a number of ways you can promote and market your event, some of which are suggested below:
Target Audience Analysis
Understand your target audience, including their interests, behaviors, and preferences. Based on the market analysis results, customize the medals and other promotional items to meet their needs and expectations.
Medal Design
Design unique and appealing medals based on the type of event, theme, and preferences of your target audience. Ensure that the medals match the brand image of the event and will catch the attention of participants and spectators.
Other Promotional Items
In addition to medals, consider designing other promotional items such as souvenirs, T-shirts, water bottles, etc. These promotional items can be used as awards for participants or as a way for the audience to enjoy the event. These promotional items can be used as participant awards or event souvenirs to increase the appeal and participation of the event.
Sponsors and Partners
Work with sponsors and partners in related industries to promote the event. Utilize the resources and channels of the partners to expand the exposure and influence of the event.
Social Media Promotion
Use social media platforms to promote event activities and customized medals, including posting event details, prize previews, and participant stories. Encourage participants and spectators to share the event content on social media to increase the event’s reach and engagement.
Promotions
Offer special promotions, such as early bird registration discounts, group registration discounts, etc., to attract more participants to register for the race event. At the same time, give away other promotional items in conjunction with registration to increase participant satisfaction and loyalty.
Race Promotion Activities
Before the event, organize promotional activities, such as press conferences, roadshows, online live streaming, etc., to introduce the race activities and prizes to the public. This will arouse public attention and anticipation in advance, increasing the exposure and attractiveness of the event.
Follow-up
After the event, follow up and review the results in a timely manner, including releasing the list of winners, reviewing the exciting moments of the event, and thanking the participants. At the same time, provide the opportunity to purchase customized medals and other promotional items to continue the influence and brand awareness of the event.
Through the above promotional activities, including marketing medals and other promotional items, you can effectively enhance the event’s visibility, attractiveness, and participation while increasing brand exposure and sales.
Conclusion
The customized medals market has a broad development prospect. With the increasing demand for personalization and special customization, as well as technological advancements, the customized medals market will continue to grow at a steady pace. However, competition is also intensifying, and companies need to continue to innovate and improve product quality and service levels in order to stand out in the market.
