Budget season
Disclaimer: the authors can confirm that NO advice was taken from any member of the Labour party in putting this budget advice together.
It’s that time of year again—budgeting season. The period where spreadsheets multiply, partners stake their claims, and marketing and BD teams battle to stretch their $/£/€ further than humanly possible. If you’re knee-deep in budgeting discussions (or dodging them), we’ve got three key things you should be thinking about when allocating your marketing and BD spend for 2025-2026.
Apart from instructing us that is 😉. Enjoy
#1. The 70/30 Rule – Give yourself some breathing space
Let’s be honest—if your budget is 100% allocated before the year even starts, you’re already on the back foot. The market moves fast, and so should you. Whether it’s regulatory changes, surprise opportunities, or, dare we say it, the next big AI breakthrough, having an unallocated portion of your budget, for unexpected but good BD, is critical.
Aim to allocate 70% to planned initiatives and leave 30% flexible for the unknown. This allows you to pivot, experiment, and respond to opportunities you can’t yet see—because let’s face it, the only certainty in professional services is uncertainty.
#2. Data, Not Ego – Breaking the cycle of inertia
If your budgeting discussions sound a bit like “we’ve always done it this way” or “X partner likes it” or “let’s give [insert completely pointless marketing exercise] it another year” then congratulations—you’ve fallen into the inertia trap. Too many marketing and BD decisions are based on habit or partner preferences rather than hard evidence.
It’s time to put data in the driving seat. Review last year’s initiatives—what actually delivered ROI? Which events, campaigns, and initiatives converted into meaningful client relationships and revenue? Make 2025 the year you say no to vanity projects and yes to strategies backed by cold, hard data. It might mean bruising a few egos, but your budget (and your sanity) will thank you. And, let’s face it, who doesn’t like bruising partner egos?
#3. People vs. Tech – Striking the right balance
Yes, AI is the shiny new toy, but without training it’s akin to put a learner driver behind the wheel of an F1 racing car. The temptation to throw budget at the latest tech trend is real, but it’s important to strike a balance. Sure, invest in tools that automate repetitive tasks and streamline processes, but don’t neglect the human touch that builds lasting relationships. Let’s not forget—people still buy from people meaning that building the basics of BD & Sales (like the CPR of sales) are equally as important as the new, shiny thing.
Smart firms will allocate budget to both—tech to enhance efficiency and free up time, and people-driven initiatives (lawyer & BD team training, customer feedback programmes, industry roundtables, relationship-building) to deepen trust and generate meaningful opportunities. It’s not a choice of either/or, it’s about finding the sweet spot.
Budgeting checklist
So, as you tackle your budget, remember:
- Leave some wiggle room (70/30 rule),
- Let data—not egos—drive decisions,
- And balance tech with the good old human touch.
Now, off you go—those spreadsheets won’t fill themselves.
