The Law of Monies: A Completely Real Behavioral Theory That I Definitely Didn't Just Make-Up

Creating Mental Boxes For Your Marketing Budget is Killing Your Performance

Every dollar you come across is exactly the same as the next. Usually soggy, green, and loaded with possibilities. It's a blank canvas, capable of painting any financial picture you desire. Yet, somehow, in the so-called “data-driven” world of business and marketing, we’ve come to place these dollars into mental boxes. Some, we spend freely, without a thought. Others, we agonize over, guarding them like precious gems. Why?

Perhaps it’s a holdover from our views on personal finance. Spend $4.99 on shipping? No way! I’m not an idiot. I just need to add $57 more dollars to my cart to qualify for free shipping. Some dollars spent bring joy & others bring sorrow. But they’re all the same dollar. 

Equal Dollars, Unequal Treatment: A Marketer's Paradox

Back to marketing. Consider the paid media budget. For many businesses, this is familiar territory. Monthly allocations, often running in the thousands or hundreds of thousands, have become as routine as morning coffee. These dollars, despite their individuality, are pooled into a collective, and the expense feels, well, normal. Leaders think to themselves “We’ve been here before.” We spend because past experiences and neatly charted graphs presented by millennials in skinny jeans & white sneakers have reassured us that we return our money & then some with each additional dollar invested. 

And yet, paradoxically, the same organizations that so casually increase their media spending can come to a record-scratching, high-chair-spoon-tapping halt when presented with the proposition of the unthinkable: spending on bettering their ad creative or, dare we say, video assets. Suddenly, those identical dollars, which flowed so easily into paid media, seem heavier, pricier, and filled with skepticism. Really? We all see the misaligned logic here, right? 

Here’s where advertisers pull out the smoke & mirrors. They’ll abracadabra your head into spinning by touting the newest ad industry drivel of “impressions” and “eyeballs.” Give me a break. No business should ever be investing in merely paying for eyeballs - focus on engagement. That’s where the real gold lies. And engagement is always the product of world-class creative assets. Period. 

No One Cares About Your Ad Budget. They Care About Results.

Your media budget, no doubt, has undeniable significance. Heck, you might have been the one to fight & claw to get it approved. You may even puff your chest out & boast about your annual media budget at happy hour with your friend across town. But let’s not forget that the medium is only as effective as the message it carries. The most expensive ad inventory in the world will do little if the creative doesn’t resonate. Conversely, world-class creative can amplify your message, ensuring every dollar of your hefty media budget truly counts.

So, here's the grand takeaway: As businesses and as marketers,  we should feel the same exhilaration when investing in world-class ad creatives as we do in bolstering our media budgets. Because it’s not just about spending money; it’s about ensuring every dollar — remember, they’re all created equal — achieves its maximum potential.

In the end, isn’t it all about getting bang for your buck?