Can You Do Too Much Marketing?
Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here.
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Our partners take marketing very seriously. They are focused on growing and want to create a sustainable business. We’re all very involved.
The problem is, it is too much.
We have to meet every week to discuss what we’re doing and whether it is working or not. We survey clients twice a year (and the clients are getting irritated about it) and we have “day jobs” so we’re being asked to do much of what we are doing in addition to everything else.
I know you promote marketing and this is your area of focus, but do you think there can be too much marketing? I don’t want to be downbeat about it. I hear from some of my friends (we’re all in our early 30s) that their firms don’t do anything. It seems like you can go overboard. Do you agree, or am I being too negative about this?
I applaud the end to your question where you are self-reflective and ask if you are being too negative. I receive questions about other people all day, every day and most of the time people believe it’s about the other person, not about themselves. Being self-reflective is the first important step to understanding other people well.
However, in your case, you are not being negative and you are definitely onto something we observe often. Yes, there can be too much of a good thing! Many advisors who do engage in marketing activities will run after the “shiny object.” They might hear about a great idea for social media, or learn about a direct marketing campaign, or buy a new workshop to deliver to their clients. It sounds great on the face of it – and maybe it is – but it’s important to think about context.