Stop Wasting Your Money On "Presence" Marketing

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

The other day I was speaking to one of my advisor clients and he said something that made me cringe.

When I asked him how much money he was spending on marketing, he said, “I’ve spent $80,000 on marketing this year.”

But that wasn’t the worst part.

When I asked him how many clients he acquired for that money, he said, “None.”

That’s a lot of money to spend on marketing with zero measurable return on investment.

After digging a bit deeper, it turned out that he was spending his money on something that I call “presence marketing,” otherwise known as brand-awareness marketing.

Presence or brand-awareness marketing is a concept that hails from the mid-20th century, on Madison Avenue, New York to be precise.