Why Advertise

Advertising in newspapers and magazines; what a great idea!

Put an ad in a local newspaper, and wait for the calls.

“Advertising in newspapers, and magazines” was in the top 7 (out of 15) prospecting techniques you wanted to know about.

The bad news: it’s not particularly effective.

Before TIP started I surveyed almost 100 financial advisors on the effectiveness of each of the 15 techniques, asking them to tell me their annual income range from business.

High earners (earning over $100,000 annually) felt that “Advertising in newspapers, and magazines” was the least effective of all 15 marketing techniques.

Low earners (earning less than $100,000 annually) gave it a higher rating, putting it in 10th place.

Do the high earners know something the low earners don't?

This lack of effectiveness of space advertising was confirmed in an earlier survey of professional consultants, which positioned it just above directory listings.

If survey results don't convince you how about the direct experience of another TIP subscriber, Greg Bowen, who says, "I placed ads in 3 successive issues of a local weekly going to 1,780 homes. Result: zero, nada, nothing at all!"

On the other hand, Greg got a call the very next day after his first mailing of his newsletter to only 400 homes.

Not surprisingly, newsletters are tops for effectiveness in all the surveys of high earners I've seen.

Conclusion: space advertising may help sell tangibles, but doesn’t do well for a personal services like ours.


Don Pooley, the author of this article, allows you to publish it if you include these credit lines: Copyright 2005, Donald F. Pooley, Inc. Don Pooley CLU, CFP, CHFC, "The Advisor's Advisor" has shared his marketing know-how with audiences of life insurance men in all major Canadian cities, London, Australia, Chicago, New York, San Francisco, Hong Kong, and Singapore, and now in his free ezine. To get more ideas on marketing your services, plus free ebooks, subscribe now at http:...

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