Some trade-off decisions are easy — do you want ice cream or brownies for dessert? Both choices are yummy and it’s simply a matter of preference.
When it comes to cutting marketing budgets, trade-offs get more complicated. Like a game of Jenga, deciding which budget blocks can be safely removed without everything crashing down can be nerve-wracking. Stakeholders with differing priorities combined with competition between long-term or short-term investments make choices difficult. Where should you cut?
In lean times, determining what not to fund is as important a strategic decision as where to allocate budget. Finding the least risky, most favorable spots for cuts requires answering two questions:
