Recently we were approached by a magazine in an industry somewhat related to what we do, with the idea that we would be one of their honorees for the Top 20-this, Top 50-that list, whatever it was.
At first, it sounded really cool. It’s always good to be honored in some way. But the reality was, and we had to investigate in order to really nail it down, first you had to sign up for a full-page advertisement, and then they make their shortlist from those advertisers, and then their final selection of honorees. The more you advertise, the more likely you are to be honored.
This was not necessarily a terrible thing. It was still a reputable magazine, and it would still be an honor to be on their list, but in these situations it’s always important to have a fundamental understanding of what it is that’s being sold. Are you really being honored, or are you being asked to buy a full-page ad?
When push came to shove, we declined the offer because buying a full-page ad in this particular publication would not have paid off for us.
Has this ever happened to you? How did you handle it? Would you do it differently the next time?