What factors do you assess in order to properly prioritize the timing of and budget allocated to different campaigns within a strategy (for example, launching an Account Based Marketing campaign versus a brand awareness campaign)?

It's pretty unique to company and your industry. But a good rule of thumb would be 60% brand and 40% demand

First and foremost, I recommend defining what success looks like for a campaign. Then you should go through a budget reallocation exercise on a defined cadence (e.g., monthly) to shift budget around based on performance.

Depending on the size of your organization, budgets are defined in a variety of ways. If you start a month or quarter with a specified budget, I see the most success when you are empowered to shift budget around towards an existing campaign or a net new campaign for testing, again based on performance.

Lastly, depending on the campaign type, you’ll need to define what the appropriate timing is for testing a campaign which may need to support some variance. Why keep the budget allocated in a fixed manner if it can make a bigger impact with a different campaign?