By Marcia Yudkin
In a recent survey I conducted on feelings about “social proof” in marketing, the comments on a question I asked about media coverage made my eyebrows go up.
The question asked whether seeing that a local financial advisor had received publicity in national media outlets would make respondents more or less interested in hiring the advisor.
I expected most respondents to say either that the publicity made no difference to them (since publicity doesn’t actually demonstrate competence) or that it made them more interested in hiring the advisor (the halo effect).
However, a sizeable minority replied that the media coverage made them less interested in hiring the advisor. This surprised me.
Was it envy? Was it a feeling that national publicity opened up too much distance between them and someone in the spotlight? The comments revealed three interesting reasons in the minds of those reacting negatively to this scenario.
First, some respondents assumed that this advisor’s rates would be much higher than they would be willing or able to pay.
“With all that fancy-schmancy media coverage I probably wouldn’t be able to afford him,” one said, “so I’d tend to look for someone else.” Another remarked, “They would probably charge more than someone who wasn’t an ‘expert.’”
The second concern was availability – not just in terms of scheduling, but also in the advisor’s attention to clients.
“Because of all the buzz, I’d worry I couldn’t reach the person if I had a question,” said one respondent. Another put it this way: “Is he or she more interested in publicity than working on client accounts?” Another wrote, “I’d prefer to have a lesser-known financial person who I’m sure I could reach easily when I had a question.” Someone else wondered, “Perhaps they are spending too much time doing interviews to focus on the job at hand?”
Third were opinions that publicity seeking indicated a personality type that the respondent would prefer not to work with.
“I try to stay away from celebrity types,” commented one person. Another wrote, “They might be more hype than substance, and I’d want Steady Eddie for a financial consultant.” In the words of another: “I don’t want or need a celebrity for an advisor. I want someone who understands my needs and goals and manages my portfolio accordingly.”
Why The Negative Reactions?
Note that these three drawbacks were all operating in the realm of assumptions. With no additional information, people jumped to conclusions about fees, availability and personality from the mere fact of media coverage. Keep in mind also that the negative attitudes were in the minority. Most respondents in my survey reported a positive or neutral reaction to the financial advisor’s publicity.
It’s also worth pointing out that the scenario in my question concerned a local professional getting national coverage and involved a financial advisor specifically. Responses might have been different had the scenario asked about a cardiologist, a college professor, a bed-and-breakfast host or a tutoring service.
And finally, the survey in which these responses turned up happened to be targeted to introverts. It’s conceivable that extroverts, who comprise the majority in the U.S., would have had fewer negative reactions to my question.
Even so, the negative assumptions were common enough and strongly expressed enough in my survey to spark several suggestions for professionals who work one-on-one with clients who don’t normally come into contact with or seek out nationally known people. When you receive national publicity, consider the following options to make sure that the publicity doesn’t boomerang on your practice.
3 Ways to Avoid Publicity That Backfires
First, don’t present the publicity you received as the top reason to do business with you. Place it in context with your educational credentials, client satisfaction, customer-friendly policies, specialized experience and impressive results, so that the media coverage comes across as icing on the cake rather than the cake itself.
Second, specifically counteract the three worries described above if they don’t fit you or how you work. Adjectives like “affordable” or “reasonable rates” head off the “can’t afford this person” thought even if you don’t quote your rates, while client testimonials about your responsiveness and likeability reassure those who wonder whether you have a swelled head and care only about the spotlight.
Or third, perhaps you’ll end up contenting yourself with the “expert from afar phenomenon,” where you respond to national publicity by raising your rates above what most locals are prepared to pay and having those who are impressed with your reputation fly in to meet with you. I’ve seen this dynamic happen with dentists, accountants, sculptors, chefs and even marketing experts like me.
On the whole, publicity is a great way to boost your career. Be alert to these possible disadvantages, though, and you can keep it a wholly positive factor in your success.
My first reaction (perhaps as a PR person) is that “sharing the stage” could mean this financial advisor once set up the microphones for these people … “sharing the stage” with Stormin’ Norman or even the Pope doesn’t seem to me to be meaningful in terms of professional expertise …
You’re right, Janice. “Sharing the stage” could also mean Stormin’ Norman did the opening keynote on Thursday, left town immediately afterward, and the person whose bio you’re reading did the closing keynote on Saturday. Thanks for weighing in on this topic.
Hi Joan,
Thank you for the great post. It is true that we stereotype to make our purchase decisions easier. As a lecturer at a state university, I teach the students to use authentic testimonials in their marketing materials to build credibility. These may originate on Yelp, search engine sites, social media communities, satisfaction surveys or even on the client’s own website.
Companies can also subscribe to bazaarvoice, a ratings and reviews software company.
Free trials or guarantees can help overcome doubts, too.
Finally, using the right cues that appeal to the customer can put people at ease. This may include using a Latino, Asian, etc.. model or Spanglish copywriting. People tend do business with others who appear similar to them.
Best of all, however, is good ol’ word of mouth. This is how I found you from afar!
Thanks so much for all your suggestions, Michelle. I’m a big proponent of testimonials and have sprinkled them throughout this website. They also can sway me when I’m on the fence about buying something.
Interesting article, and although it’s true that most people jump to conclusions, it’s hard to evaluate accurate results with a survey like the one mentioned in the article. There are different types of consumers, and it’s important to address them all. They’re not necessarily defined as “introverts” and “extroverts,” since those 2 personality types include different ways of making decisions (some may be impulsive, some may be bargain-shoppers, some may need proof, and so on).
Plus, I’d be curious to know on what basis does the author state that most Americans are extroverts?
If I remember correctly, you can find the percentage of introverts/extroverts in The Introvert Advantage: Making the Most of Your Inner Strengths: How to Thrive in an Extrovert World by Marti Olsen Laney Psy.D. I am not at home right now, so I can’t check my bookshelf.
And I completely agree with you that consumers divide up in all sorts of ways, not only introverts and extroverts. I happen to have been conducting research on introverts and in this post I am reporting interesting comments that came up in that research. That’s all.
Thanks for your reply. I’m still curious about how that author figured it out? Is it just statistics (which in my opinion can’t be trusted), or based on the “American ideal,” which is obviously extroverted? 😉
Hi again, I’m sorry but I am not at home and do not have access to my research materials. I recommend both The Introvert Advantage by Marti Olsen Laney and Quiet by Susan Caine if you are interested in this topic. Thanks for your comments. – Marcia