by PRIYA VASU / pic credit: marketing-interactive.com
ADWORK is offering RM1 million worth of free advertising space to local small and medium enterprises (SMEs) registered with SME Corp Malaysia, said CEO Kumaresh Visvanathan.
“Until now, mainstream advertising has been a ‘privilege’ to large-scale organisations with huge marketing budgets which enable them to engage with media agencies. SMEs do not have this so-called luxury. This is a disconnect we want to change by making advertising more accessible online and affordable for SMEs,” Kumaresh said in a statement yesterday.
“As part of our launch, Adwork will be offering RM2 million worth of free advertising space to users through cash rebates, value-added deals and discounts of up to 70%.
These promotions will be published on the Adwork platform,” he added.
SMEs make up 98.5% of all businesses in Malaysia, yet only 25% of these businesses allocate advertising expenditure to create brand awareness.
One of the main reasons for the reluctance to spend on advertising is the misconception that advertising is for larger business players.
Kumaresh explained that while Adwork is available for all businesses and organisations, the platform is specially designed for SMEs with an annual revenue of RM50 million or below — across all industries in Malaysia and the region.
“In line with the government’s Budget 2020’s Shared Prosperity Vision 2030 agenda, we are going all out to empower local SMEs through these easily accessible and highly affordable promotions and products online.
“This is part of our competitive strategy which is made possible by collaborating closely and directly with our media partners to craft special promotion deals for SMEs,” Kumaresh said, adding that Adwork expects to see a strong take-up and increased overall advertising expenditures by SMEs, with an initial estimated target of RM5.7 million in revenue by the end of 2020.
Adwork is a newly launched self-serve end-to-end advertising platform intended to provide easy, highly affordable and effective advertising experiences for SME business owners in Malaysia and the South-East Asian region.