More than 12 million Facebook users. National broadband penetration is over 80%. Almost 17 million total internet users. And how much are Malaysian businesses spending on online advertising?
A measly 1% of their total advertising budget.
A report released recently by Google and McKinsey & Co shows that Malaysian businesses hardly see internet advertising viable. In fact, Malaysia is placed at the bottom 10% of the 57 countries surveyed.
Look, I’m no advertising genius. But doesn’t this seem like a severe case of head-in-the-sand ignorance?
Just 10% of Malaysia’s Facebook population is still more than the total daily readership of The Star, which is at about 1.06 million.
But that’s not all. We Malaysians spend more time on the internet than on watching television or listening to the radio combined.
If you ask me, I think we spend more time online than even talking to our spouse, family and friends combined.
If anyone out there thinks online advertising is crap – it can be annoying if improperly executed though – here are 5 good reasons why you should take your next campaign online:
- Costs a fraction of TV, Print or even Radio ads
- You can measure results and effectiveness almost immediately
- Internet allows for almost pin-point targeting, bases on niche interests
- Those in their 20s and 30s are active internet users; a consumer goldmine!
- Almost 40% of purchase decisions are made on the net; making online presence critical
In times of dwindling marketing budgets and an ever-evolving consumer landscape, please feel free to double or even triple your online marketing efforts this year.
If you still want to spend RM40,000 or upwards on a one-time-only print ad (I’ve got some tips for that too) instead of a highly-targeted, response-oriented online campaign; then go right ahead.