Don't let it be too close to the surface in humid areas or the rust will bleed through to the surface. that was why I used scraps of aluminum screening. If it corrodes, it's still a very light color.
You can also shove a wad of newspaper into the hole, and down a few inches so you can fill the void with patching plaster to spread the force across a wider area for the next time.
If the hole is the size of a door knob (or large) I cut out a piece as high as necessary, and between the studs to put a new piece of drywall. While the hole is open you can screw a pair of blocks to the studs, and put a piece of 1" * 4" in the wall so it is a lot harder to damage in the future. Then you only have a very thin line to plaster around the new piece of drywall.