Managing a marketing budget requires discipline and easy access to the right information – so we built a Marketing Budget Template to make that easier. It’s a ready-to-use spreadsheet with the formulas, formatting, and categories already built in, so you can focus on the numbers instead of the setup.
Grab the template, then use the walkthrough below to set it up for your team.
>>Download the Marketing Budget Template<<
Step 1: Setting Your Marketing Budget
The first step to personalizing the marketing budget template is figuring out what you have to work with. In some cases, the overall marketing budget is set by the CEO or CFO. If you’re in the position of setting your own, here are two common approaches:
Method 1: Percentage of revenue. Marketing budgets typically range from 5 – 10% (Gartner) of company revenue, depending on whether you’re B2B or B2C, sell products or services, and how established your brand already is. B2B companies tend to land on the lower end of this range; B2C companies run higher.
Method 2: Goal-driven modeling. A stronger approach is to start with your revenue and marketing goals, then back into the budget you need based on cost per lead, cost per opportunity, average sale price (ASP), win rate, and sales cycle assumptions. This method ties your budget directly to what you’re actually trying to achieve, rather than an arbitrary percentage.
Whichever method you use, once you land on a number, you’re ready for Step 2.
Step 2: Allocating Your Marketing Budget
Next, decide how to split your budget across channels, tools, and projects. The template includes suggested allocation percentages by category in Column B – use these as a starting guideline, not a rule.
To use the template:
- Fill in your anticipated monthly budget for each category in Column C.
- Compare your allocation to the suggested benchmarks and adjust based on your own experience, upcoming projects (product launches, rebrands), and team priorities.
- Cell AB24 auto-calculates your total marketing budget – confirm it matches what you expect.
- To add a new budget category, copy an existing row and insert it where needed (copying preserves the formulas). Use the notes column to document what’s included in each line item – see cell A14 for an example.
>>Related: How to Negotiate a Bigger Marketing Budget<<
Step 3: Keeping Track of Your Expenses
Setting the budget is the easy part – tracking it is the part that lasts all year.
A simple system that works well:
- Route purchase requests through email or your internal approval tool.
- Once approved, log each one as a line item in the Actuals tab, ideally weekly rather than letting them pile up.
- If you add a custom budget category to the Budget tab, add it to the list of approved values (Column X on the Actuals tab) in the same order it appears on the Budget tab – this keeps the template’s formulas working correctly.
Do this consistently, and you’ll always be able to answer “how are we tracking against budget?” with a real number, not a guess.
>>Related: [Video] How to Create and Negotiate a Marketing Budget Using Modeling<<
A Few Final Tips
- Track a running total of budget vs. actual, month over month. If you’re under budget in one month and over in the next, knowing your cumulative position tells you how much real flexibility you have – not just your standalone monthly number.
- Pre-populate recurring monthly charges (like travel) in the Actuals tab, and highlight the amount cell yellow until it’s reconciled. That way nothing recurring slips through unrecorded, even if no formal request was filed.
- Set up a monthly check-in with your AP team to confirm their numbers match yours. It’s a small habit that prevents year-end surprises.
FAQ
What is the Marketing Budget Template?
It’s a ready-to-use spreadsheet with formulas, formatting, and pre-built categories to help you plan, allocate, and track your marketing budget throughout the year.
How do I set my marketing budget?
Calculate it as a percentage of revenue, or build it from your revenue and marketing goals – factoring in cost per lead, win rate, and sales cycle length.
How should I allocate my marketing budget?
Start from benchmark category percentages, then adjust based on your own experience, upcoming projects, and current priorities.
What’s the best way to track marketing expenses?
Update your Actuals tab weekly using purchase request approvals, then reconcile monthly against your budget to stay on top of spend.
Can I customize the template for my company?
Yes – add new budget categories by copying an existing row (to preserve formulas), and adjust tracking or allocation logic to match how your team actually works.
