As a business owner in Kenya, you’ve probably noticed that whenever the word marketing comes up, the first thing that hits your mind is cost. And rightly so, for many small businesses, digital budget allocation often feels like an expense rather than an investment.
Sometimes you see it as positive, other times negative. But whichever way you look at it, one truth remains: a business is not a business without marketing.
Marketing is both bigger and smaller than we think. It’s bigger, because in the grand “food chain” of business, your enterprise is only a small part of the marketing universe. And it’s smaller, because in your daily operations, marketing feels like just a fraction of what you do. The challenge, then, is knowing how to wisely approach digital budget allocation so that your marketing actually works for you.
To explain this digital budget allocation concept, let us take you back to a story from the Bible told over 2,000 years ago.
A master was going on a journey. He gave one servant five coins, another two, and another one. The first two invested wisely and doubled what they had. The last one buried his single coin and returned only what he’d been given. The master praised those who multiplied resources and scolded the one who wasted his opportunity.
This story isn’t about marketing, but the principle applies to digital budget allocation. Resource allocation has always required wisdom. You put more into what works, some into what has potential, and a little into exploring new ground.
That’s exactly what the 70/20/10 rule in marketing is about.
70% — Your Proven Channels Put the bulk of your digital budget allocation here. These are the platforms or tactics that consistently bring results. If you’ve seen Facebook ads drive sales, or WhatsApp promotions generate referrals, that’s your “five coins.” This is where you double down with your digital budget allocation.
20% — Adjacent Opportunities This pertains to strategies related to your core but have not yet been fully proven. Think of it as extending what’s already working. For instance, if your 70% is on YouTube, you might repurpose those videos for TikTok or Instagram. The risk is lower because you’re building off proven strengths with smart digital budget allocation.
10% — Bold Experiments This last portion is for exploring new ground with your digital budget allocation. It could be blogging, influencer marketing, cold calling, or even testing a platform you’ve never touched before. It’s your “what if” budget. The part that ensures you keep evolving instead of standing still.
If you think back to the parable, no wise master would give all resources to the servant who only buried his coin. In the same way, don’t waste your budget on strategies that never return anything. Be the master who approaches digital budget allocation wisely. More to proven strengths, some to adjacent opportunities, and just enough to explore new frontiers.
When you sit down to reflect on your marketing budget, remember the 70/20/10 rule. Effective digital budget allocation ensures you’re not only protecting your present but also preparing for your future. Master your digital budget allocation approach, and that’s how your marketing can work as hard for you as you work for your business.
Which high level lesson you’ve learnt about budget allocation that you still live by today? Reply and let us know because we’d love to hear from you