There are really two main types of advertising - Prospecting and Image Branding. Some advertising attempts to do both, but most is specifically geared toward one or the other. When advertising is used to gain prospects, the call to action is immediate. That is to say, that at some point in the advertising, the audience is offered something in return for an immediate 'response.'
Prospecting attempts to get as many 'responses' from those inside of a target demographic as is possible. 'Responses,' when generated, are usually immediate, which is an obvious positive. The negative side of prospecting is twofold. First, as soon as you stop the advertising, the 'responses' stop; more importantly, prospecting is generally about the 'offer' itself and generally does not build a reputation or brand visibility for the business doing the advertising. The advertising focuses on 'the offer' - how great IT is and how important it is to 'respond now.' There is usually little to no opportunity to build a brand or to build some familiarity with your business and why it is better than your competition.
With Image Branding, by comparison, the messages in the advertising are intended to build positive impressions, or 'images,' about your firm in peoples' minds. There is no 'hurry' or 'strong 'call to action,' - rather, the message is more about making people feel more comfortable with you as a viable choice when considering the services that your firm provides.
Image branding is more of a long term advertising strategy, one designed to build lasting, positive impressions about your shop and to become and remain 'top of mind' when people consider the types of services your firm provides. It is our experience, after working with hundreds of financial services professionals, that the great majority of them do too much of one or the other types of advertising - almost every shop should do some of both. The only shop that has no need of prospecting is one that experiences sufficient internal growth from referrals alone. How much of each type of advertising to do is a function of where your shop is in its growth and development.
The pros at Touch Marketing Group can help by analyzing several relevant factors of your current efforts, including the size and disposition of your current book, the current marketing efforts that your shop is engaged in and your current marketing budget to help arrive at a proper prospecting to image branding ratio. In addition, Touch Marketing Group has experts in every facet of advertising and media, so you will never be left to navigate the treacherous waters of advertising again. In short, Touch Marketing Group can be your firm's comprehensive marketing solution.
We specialize in all relevant forms of advertising that do work in both prospecting and image branding, as well as hybrid approaches: