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ADWORK

Media Advertising Marketplace (eCommerce)

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY
  • Adwork is a self-serve end-to-end advertising marketplace (e-commerce), intended to provide an easy, highly affordable, and effective advertising experience for advertisers, particularly SME businesses.
  • In simple terms look at it as ‘Amazon for Advertising’, where advertisers can easily select media (example TheStar full-page ad), add creative, and make payment online.
  • Adwork was launched in December 2019 and has completed more than 15 bookings online worth more than RM500,000.
  • Adwork is the largest media advertising platform in the region with approximately 10,000 media products for client selection.
  • At the moment, the marketplace offering more than RM5 million worth of promotions/discounts to be enjoyed by advertisers.
  • Adwork has been selected by SMECorp to be the grant fulfillment provider/supplier, where Adwork will be the focal point for advertising-related grant utilization.
  • As part of the competitiveness strategy, Adwork intends to move into the next phase of the platform development (Adwork 2.0) to facilitate regional expansion which is planned for the year 2021.
  • The fund will also be utilized for growth-related programs including marketing, operational optimization, and partnerships.
PROBLEM
  • Mainstream advertising has always been the 'privilege' of large organizations which huge marketing budget and luxury to engage with a media agency.
  • SMEs don't have a large marketing budget and often turned away by media agencies for budgetary reasons.
  • SME also doesn't have much awareness of the media variety, availability, pricing, and suitability for the business.

SOLUTION
  • The one-stop online advertising media marketplace, which offers all types of media in one place.
  • Easy access and booking experience for SME, similar to existing e-commerce experience.
  • Full e-commerce experience including payment.
  • Bite-sized media packages for SME.
  • Highly reliable media for effective advertising experience.
PRODUCT
  • Adwork is the first end-to-end advertising media booking marketplace (e-commerce) in the region, which offers an almost similar experience to online shopping to make media booking experience easy for SME.
  • Adwork offers easy-three-steps media booking; Media Selection, Creative, and finally Payment. That's it!
  • The product pricing on the site, similar to online shopping, is very competitive! We even offer up to an 80% discount on some items.
  • Adwork is the largest media marketplace in the region with approximately 10,000 media products. This enables the site to be a good media comparison site with transparent pricing for SME's decision making.
  • One of the major obstacles for SME to advertise is creative service. Adwork includes creative service for a fee as part of the booking.
  • Again, similar to online shopping, we constantly work with media owners to produce promotions. At the moment, Adwork is offering more than RM5million worth promotions.
TRACTION
  • As of September 2020, Adwork has completed 15 online bookings worth RM500,000. The pandemic crisis has slowed the expected growth, but business is expected to rebound through organic SME promotion programs, SMECorp's partnership, and upcoming affiliate programs.
  • Adwork is hosting media products from 32 media owners including the major companies such as Media Prima, Astro, The Star, TGV Cinema, and many more. Almost 90% of the local media owners are successfully onboarded onto Adwork and actively offering promotions.
  • Adwork has been selected by SMECorp to be the grant fulfillment provider/supplier, where Adwork will be the focal point for advertising-related grant utilization.
  • Adwork is collaborating with Maxis and MDEC in the SME digitalization programs.
  • SME user registration on Adwork also growing very positively since the peak-of-pandemic.

CUSTOMERS

The current customers and prospective customers (based on user registration and online inquiries) are largely from tech-startup, services, and manufacturing industries. Some of the notable customers are KryptoPOS, MoneyMatch, Leaderonimics and Hexa Food. 

Customer Testimonial - KryptoPOS

BUSINESS MODEL

SME expects cost-effective solutions for their businesses. Advertising industry traditionally operates on 15% agency commission. Adwork as part of our pricing competitiveness strategy, take 5% commission for every transaction, which is 10% cheaper than advertising agencies. Furthermore, the packages are offered at an additional at least 20% discount obtained through deals with media owners, which gives more than 30% saving for advertisers on Adwork platform.

Adwork also intend to monetise the web real estate through media owner advertisements and campaigns. This additional source of revenue is expected to start upon the completion of Adwork 2.0 platform.

MARKET
  • The Malaysian advertising expenditure (ADEX) for the year 2020 is forecasted to be RM12billion by Nielsen.
  • While there is no SME advertising spend data specifically, conservatively SMEs are expected to contribute at least 20% to the overall ADEX; RM2.4billion.
COMPETITION
  • There are two direct competitors in the local market – AdEasy and Picasso Media. Both competitors are focused on sales-driven acquisition and highly focused on large advertisers. In contrast, Adwork is a marketing-driven acquisition business, which focuses on targeted digital marketing for client conversion. Adwork also aims to reach SME clientele through various collaborations such as SMECorp, MDEC, and Maxis. 

  • Substitute media advertising solutions through media agencies are available but highly ‘reserved’ for big spenders (large corporations). Media agencies are also expensive (at least 15% more).

  • The biggest barrier to entry is the media collection or assets. Adwork through the parent media agency, Trapper Group which has been in the media advertising business for more than twenty years, has a clear advantage to acquire a large collection of media through direct negotiation with media owners. We are strategically positioned to be the largest media site in the country. At the moment, Adwork hosts more approximately 10,000 media products, which makes it the largest media platform in the region.

 

FUNDING

  • Adwork is a tech-startup, that believes in product superiority as part of the competitiveness strategy. Adwork also intends to develop the product to meet the regional expansion targeted for the year 2021.
  • 70% of the funding will be utilized for product development - manpower and supporting resources' costs.
  • 30% will be allocated for growth marketing programs including manpower, digital marketing campaigns, and partnership programs.
VISION

Adwork is a tech-startup and product superiority plays a major role in the organization's competitiveness strategy. The current product does one thing - digitalize the entire media buying operations, where anyone and everyone can buy media. 

We want more. We want a far more extensive, robust, and agile product to support our business growth and regional expansion. Our product vision is to build a product based on three pillars - Intelligence, Automation, and Experience, which is intended to benefit advertisers, media owners, creative partners, and Adwork operations.

INVESTORS
  • Reddoor Asia Sdn Bhd, which is the registered business entity of Adwork (brand name) is a wholly-owned subsidiary of Trapper Media Group, which has invested RM481,268 as per the audited account dated February 2020.
FOUNDERS
  • Sivanathan Krishnan is a well-known advertising industry veteran, with over 27 years of industry experience. He is the founder and Group CEO of Trapper Media Group, the largest home-grown media agency in the country. Siva is a firm believer of the agency should be responsive to change, continuously adapting to new realities in order to stay relevant. Siva is the recipient of the 2008 Media Entrepreneur Of The Year Award and voted as Vice President of Media Specialists (MSA) for the year 2016 and 2017.

  • Beverly Jitam qualified Chartered Accountant with over 25 years of experience. She has articled at KPMG Peat Marwick for over six years at the start of her career in the areas of audit, taxation & the listing of companies on the KLSE, with diverse clients in oil & gas, insurance, investment holding manufacturing. She co-founded Trapper Media Services (M) Sdn Bhd (TMS) in August 2001, a Media Specialist Consultancy. Since then, TMS has grown to be the largest local media specialist company in Malaysia today. She is currently the Group Chief Financial Officer of the Trapper Group of Companies.

 TEAM
  • [CEO] Kumaresh is a business growth professional with more than twenty years of experience in various stages of corporate commercial activities including international sales and marketing, new business development, key account management, and business strategy. Previously, he was the Chief Business Officer for an Adtech company, responsible for overall business growth. Kumaresh holds a Master of Business Administration (MBA) in International Business from the University of Liverpool (UK).

  • [CTO] Elaia Raj is an IT Professional with over 19 years of working experience in the software development industry. His past track record includes establishing and leading a large engineering team as CTO for Ebizu and also setting up the cloud IT operations for one of the largest conglomerates in the UAE. He is an advocate of agile development and cloud computing, with professional certifications from AWS, TOGAF, and Scrum.org. He also holds MSc in Computing from the University of Gloucestershire, UK. 

PRESS

 

 

 


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