Image credit: Resolute
Communications and Digital Minister Fahmi Fadzil yesterday launched the Ohsem Digital Advertising Fund, which enables small and medium enterprises (SMEs) to advertise on premium content sites at a discount of up to 85 per cent.
Fahmi said the fund, worth RM21 million, was a partnership between Dettel Asia Group (DTL), Rev Media Group (Rev) and the Malaysia Digital Economy Corporation (MDEC).
"I am delighted because this initiative aims at bridging the gap within SMEs and enables them to use technology as their marketing strategy, encourage development and indirectly highlight local technology companies that can offer solutions to digital marketing.
"This is especially important as we drive the use of technology among SMEs and try to ensure that local companies are given room to grow," he said, at the Ohsem Marketing 360 event in collaboration with Media Prima Berhad, held at Pullman Hotel, Bangsar.
Fahmi said local companies such as Rev Media Group, with monthly visits of up to 15.8 million, would be able to provide similar experiences as big tech companies such as Google, Meta and TikTok.
Besides benefiting SMEs, the initiative would also help propel the country's local economy.
"Statistics show that Malaysians spent around RM2 billion on Facebook.
"So indirectly, the ringgit will flow out and it will not help generate the economic cycle in the country.
"Through this fund, I hope part of the advertising expenditure will help drive the local economy," he said, adding that it will also help to ensure media sustainability.
Applications for the fund which is limited to the first 1,000 entrepreneurs, can be made at www.ohsemads.com.
DTL chief executive officer (CEO) Ashran Datuk Ghazi hoped the initiative would be a catalyst for comprehensive internal economic generation.
"We are open to collaborating with market technology platforms and other content platforms to achieve the aspiration of helping SMEs more quickly."
Rev CEO Samuel Wee said: "This initiative is just the beginning of our efforts at Rev Media Group to support SMEs. I hope SMEs seize this golden opportunity to try something new for themselves."
The Ohsem Digital Advertising Fund is limited to 1,000 entrepreneurs with approved applications. Approval will be given within 48 hours.
Source: https://www.nst.com.my/news/nation/2023/08/941306/digital-advertising-funds-smes