NEW DELHI: With an eye on the $ 526 Billion global market for advertising, marketing and digital services consumed annually by small businesses around the world, India born agencyonnet.com launched the world’s 1st B2B E-commerce platform connecting the buyer and seller for marketing communication services in an additional three markets.
Close of the heels of its India launch in March, the company decided to move ahead with its global footprint by launching the services platform in three key markets. “Since we were already being accepted by Indian clients and agencies within 1 month of our launch, we decided to increase our footprint by making the platform available to small businesses and agencies in the Gulf, US and UK markets.” said Rajesh Menon the CEO and founder of Agencyonnet.
The marketplace aims to connect small businesses with marketing communication agencies across the marketing, advertising and digital domains through a transactional e-commerce site. Small Business clients have an option to choose from over 52 categories of agencies for their marketing briefs. “Our objective is to ensure that clients no matter what their marketing services requirements are will find the right quality service provider here. We have had a good start in India and we have been receiving extremely good response levels from International markets.”
The global market size for the marketing and advertising industry is estimated to be $ 1.17 Trillion with 40-45% of the annual spends being consumed by the small business community. Unlike a directory search service, Agencyonnet will be focused on providing transactional services to small businesses and agencies around the world.
According to Rajesh Menon, “What we are going to do will make the industry sit up. We will have the first mover advantage in several areas including being the world’s first B2B E-commerce marketplace for this service.”
At present the B2B E-commerce market for marketing communication is severely restricted to creative and web development services with sites like Elance, Guru, 99 Deisgns and the Blur Group who largely focus on freelancers who comprise the seller side of the business. “In our analysis of the domain, we realized that the biggest problem being faced today by small and mid-sized agencies is the lack of a structured business development platform. Likewise small businesses too prefer to hire professional agencies rather than freelancers. By connecting the two we intend to create a paradigm shift in the way marketing communication is bought and sold.”
Speaking on the global move Rajesh explained. “There are an estimated 125 Million small businesses and over 1 Million agencies around the world. Our analysis has indicated that small businesses struggle to find quality agencies just as much as agencies find it difficult to get clients.We have already agencies registering with us from as far away as Kazakhstan! We chose these three markets to form the beachhead from where we will expand our footprint into Europe and North America. We want to be the next Amazon in our domain”
With less than a month from launch, Agencyonnet already has had over several live projects being posted online by clients. “The total value of briefs that we have received from our clients over the past 1 month is over $250,000. We have yet to begin our marketing campaign and despite that the results have been fantastic” says Rajesh,” We have been having a regular stream of both agencies and clients registering on our platform and the interaction has already started.”