Money Marketing Wheel: Spending Money, Not Time, to Generate Leads

This article is part of a series of articles that talk about different approaches to marketing small businesses. Click here to read the initial article, Marketing Wheels: How to Keep Moving to See Your Business Succeed.

Within the marketing landscape, the Money Marketing Wheel shines as an opportunity. It allows businesses to accelerate growth through financial investments, rather than relying solely on extensive time and labor.  With an initial setup and ongoing maintenance, consistent monetary contributions cultivate a steady stream of leads.

The Money Marketing Wheel encompasses various avenues, each offering unique lead generation opportunities:

  • Google and Facebook Ads
  • Direct Mail Campaigns
  • Magazine Advertisements
  • Doorhanger Distribution


Running Google or Facebook ads exemplifies the value of this approach. Once campaigns are optimized and lead flow becomes consistent, maintaining a sufficient budget ensures uninterrupted momentum. While periodic adjustments might be needed, especially without dedicated agency management, the potential for sustained lead generation remains strong.

I had a client who spent a lot of money on television and radio advertising, and wanted to grow their online lead generation, too. I managed their Google Ads account. Through experimentation, I increased their leads by 65% and decreased their cost per lead by over 50%. After getting to that point, I was just maintained their account to keep the lead machine rolling.

While some may be skeptical about advertising’s effectiveness, empirical evidence demonstrates its viability for others, providing a tangible return on investment (ROI). Experimentation is key to finding the optimal placement for the Money Wheel within your marketing arsenal. Starting with modest investments and scaling up based on success minimizes risk while maximizing potential gains.

Even Search Engine Optimization (SEO), particularly when outsourced to specialized agencies, can be considered a Money Marketing Wheel due to the inherent financial investment.

Maintaining at least one active Money Wheel, assuming it yields a favorable ROI, is a prudent strategy.  In the pursuit of sustained growth, the strategic allocation of financial resources into effective marketing channels holds paramount importance.

 

Photo by Toni Zaat on Unsplash

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