Freakonomics had an episode earlier this year which had quite a bit about the history and quantity of advertising. https://freakonomics.com/podcast/personal-injury-lawyers/ I'd love a deeper dive though. Sounds like two main reasons? 1) it's a high turnover business with few to no repeat customers. 2) it's an arms race of spending, firms out spending each other to keep those new customers coming.
I have been meaning to look into this as well. It always strikes me as strange that it's worth lawyers marketing SO much all over the place. Seems like we pay for it in the end, and that there must be a better way.
Freakonomics had an episode earlier this year which had quite a bit about the history and quantity of advertising. https://freakonomics.com/podcast/personal-injury-lawyers/ I'd love a deeper dive though. Sounds like two main reasons? 1) it's a high turnover business with few to no repeat customers. 2) it's an arms race of spending, firms out spending each other to keep those new customers coming.
Makes sense; also helps that the dollar amounts are massive and the business margins are surely super high.
I have been meaning to look into this as well. It always strikes me as strange that it's worth lawyers marketing SO much all over the place. Seems like we pay for it in the end, and that there must be a better way.