Local Advertising for Small and Medium Businesses
Business owners in Malaysia, especially those of small and medium businesses (SMBs) are slowly recognizing the importance of spending on digital advertising services, to attract customers that spend a significant amount of their time online. Increased spending by SMBs is, therefore, trending in the digital advertising sector currently, and leading to increased revenues for these businesses, according to a recent survey. These SMBs, while willing to test the waters of digital advertising, are nevertheless reluctant to take big risks and prefer to stick with advertising services they are comfortable with; a factor that a good advertising agency in Malaysia will have to bear in mind. While introducing SMBs to newer advertising services such as mobile marketing and social media marketing, an agency must also consider that SMBs are still very much budget-conscious.
Mobile Ad Spending to Swell
A leading market research company has predicted that mobile ad spending in Malaysia will more than double in the next five years. This is in line with the fact that most Malaysians, around 80%, have smartphones and use them as the preferred mode of online surfing. By the year 2021, digital ad spending is expected to reach 332 million USD, with mobile ad spending accounting for 75% of the total digital ad spend. Digital advertisement strategies from crucial industries such as banking, telecom and FMCG will fuel digital advertising spend in the years to come, leading to an ever-flourishing digital economy and increasing internet penetration.
The Demographics of Malaysia
In order to understand the advertising services that need to be employed in the country, an agency needs to bear in mind some demographic facts about the Malaysian population. For one, Malaysia is ethnically and religiously diverse. Next, Malaysians are well-educated, relatively affluent, and English-savvy, using the same online services as users in the West. Further, Malaysian advertising employs a liberal mix of both Malay and English. Global companies looking to make inroads into the Malaysian market will need to bear these demographics in mind while advertising.
An advertising agency in Malaysia has many factors to consider before it can roll out an advertising strategy. A well-planned strategy can be a gamechanger for a business and take it from obscurity to stardom.