Do Huu Hung from Vecom informed the 2022 Digital Marketing Forum final week that the expansion of digital advertising and marketing in Vietnam has slowed down as a result of companies have been tightening spending, however the sector nonetheless noticed a two-digit development charge, about 25-30 p.c every year.
Hung cited experiences as saying that spending on digital advertising and marketing globally has elevated as shoppers additional shift to the online setting.
An eMarketer report mentioned that international spending on digital advertising and marketing might attain $571.16 billion in 2022. Digital advertising and marketing accounts for 65.9 p.c of complete spending on adverts and advertising and marketing.
In Vietnam, online advertising and marketing has been rising as e-commerce and online platforms succeed. In 2022, complete expenditures on digital advertising and marketing in Vietnam is estimated at $2.5 billion, a development charge of 19 p.c.
“We spend VND50-60 trillion every year on online advertising and marketing,” Hung mentioned, including that the expansion charge is anticipated to be over 20 p.c by 2025.
Facebook and Google stay the 2 main advertising and marketing channels. However, Hung mentioned effectivity was reducing.
One or two years in the past, advertisers spent 80 p.c of their budgets on Facebook and Google, and a few manufacturers even reserved 100% for the channels.
But issues are totally different now due to the difficulties in accessing customers’ information and the platforms’ coverage on tightening information administration. Enterprises notice that operating adverts on these channels is just not as efficient because it was beforehand.
Another purpose is, in keeping with Hung, extra enterprises wish to run adverts on Facebook. There are about 50-60 million Facebook customers in Vietnam.
As applied sciences change frequently, advertising and marketing channels on Facebook, Google or eMail are getting previous. This explains the looks of latest channels, together with Affiliate Marketing, Social Marketing and e-commerce platforms.
According to Hung, spending on new channels accounts for 35 p.c of complete expenditure and the determine is rising, although conventional advertising and marketing channels nonetheless account for a big proportion of complete spending on digital advertising and marketing.
Shopee and TikTok are stepping up affiliate marketing online and that is additionally the selection of many enterprises. A survey discovered that over 2,000 companies in Vietnam are utilizing the channel.