I reduced the Marketing budget by 30% just 2 months after joining Zingtree without anyone asking me to do so.
Why? I try to think like a CEO. If this was my money, I wouldn’t spend it all yet, or I’d spend it differently.
How did I do this?
– Cutting budget from items that weren’t performing for Zingtree
– Delay investing heavily in new initiatives until we proved them out with a smaller budget (early positive signals, early revenue results)
– Reevaluating the agency, freelancer, and vendor list
I go into a bit more detail in this post about principles for cutting the Marketing budget.
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To all the Marketing leaders, don’t invest too heavily before you can prove results (or early positive signals) of new initiatives.
To all the CFOs and CEOs out there, send this to your Marketing leader so they can get some inspiration 😉