Create Budget Versions

Overplanning the marketing budget is a common issue. Prepare different budget scenarios based on company's approach.

Don't waste time creating multiple budget versions upfront. Instead, first align with your CEO and stakeholders on the core strategy approach - whether you're pursuing aggressive growth or taking a conservative path.

Still, many CEOs request multiple budget versions: conservative, balanced, and aggressive. This often leads to wasted effort as typically only one approach aligns with the company's true strategy. After all, if your company aims for aggressive growth, why spend time preparing a conservative budget that doesn't support this goal?

Budget versions are more useful during the approval process. Use them to show trade-offs when you need to cut specific line items or adjust growth targets.
If you create multiple versions too early, you'll split your focus between different strategies instead of perfecting the one that matters most.

Better Approach to Budget Versions

Don't create budget versions if you're not forced to it. Use this better approach:

  1. Align on strategic direction first
  2. Create one solid budget matching that strategy
  3. Use versions later to show impact of specific cuts or changes
  4. Keep detailed notes on what changes between versions
Multiple versions at the start usually mean unclear strategic direction. Push for alignment on company's growth targets before detailed budget planning.