Create revised budget version

Budget revision is a critical moment that tests your strategic thinking. The way you handle budget cuts shows your ability to protect growth while being flexible and responsible.

Budget Reduction Process

When reducing your marketing budget, follow this recommended order to minimize impact on business growth:

1. 1.

   Start with reducing initiatives that serve operational purposes, not acquisition or conversion (line item property: goal)

   • Internal tools that can be replaced, reduced, or fully eliminated to move faster with fewer processes
   • Marketing Operations headcount that can be automated or responsibilities redistributed
   • Non-essential team activities
   • Administrative expenses
2. 2.

   Look into budgets for other non-acquisition goals

   • Brand awareness campaigns without clear conversion metrics
   • Content projects without direct lead generation impact
   • Market research that can be done internally or through cost-effective tools like Wynter instead of agencies
3. 3.

   Review all acquisition costs that are fixed-costs, not variable

   • Software subscriptions
   • Agency retainers
   • Contractor agreements

Budget Version Presentation

Create another version of your original budget to show changes clearly. Present to the Finance team and Board using their language - cost centers, not marketing categories.

Show what bets you're making with the remaining budget and set clear evaluation timelines. For each major initiative that raises budget concerns, document:

• Expected outcomes
• Evaluation timeline (no more than 3 months/1 quarter) - this is most important to do!
• Maximum budget at risk