Should it Cost $40,000 for Marketing Materials?

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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Dear Bev,

Some of my advisors are pushing hard to update our marketing materials. Our website was developed 12 years ago and our materials are 10 years old. I understand the need for refreshing marketing, but the quote we received (for $40,000.00) is outrageous.

Is it necessary to spend so much money to do a refresh? How important is it to update your materials on a regular basis?