If you want your marketing budget to be healthy, start connecting it to how it is influencing your pipeline.
I've been in numerous situations where I had to cut the marketing budget. It is not easy. But then I started to aligning the marketing budget with revenue impact.
One time I was asked to cut the event budget. This is how that convo went:
Other person: Can we cut the event budget?
Me: Yes, but I will need to adjust our revenue goals because those three events generate 12 opportunities for us. And 50% of those opportunities close within 6 months.
Other person: Never mind. Leave it as is.
True story.