Search engines are effective channels for online marketing and advertising but it looks like social media is gaining a significant share of the market and revenues in Vietnam and elsewhere. Based on a report by domestic eBusiness Index that was prepared by Vietnam Ecommerce Association (VECOM) in 2016, 34% of domestic businesses advertised through social media, 6% more than the previous year.
Marketers prefer social media for advertisements more than search engines. In fact, 47% of domestic businesses use social media compared to 41% that is using search engines. Social media marketing is growing at a very fast pace because it is economical and effective.
According to Tran TrongTuyen, VECOM General Secretary, about 70% of individual retailers in Vietnam use Facebook page for their advertisements instead of tools like Google Adwords. It is estimated that the revenue growth generated through the social media platform was about 10% in 2016. 46% of businesses that used social media ads reported that they have successfully reached their desired target audience compared to 44% that used search engines in Vietnam.
At present 38% of domestic businesses have websites which they use as their main platform. 34% rely on social media networks because it is more cost effective. According to expert estimates, in 2017 businesses in Vietnam will spend about $1.5 billion on advertising with 16% on online marketing channels.
Vietnam has one of largest connections in the region with more than 47 million active on the internet and 29 million with their smartphones. It makes sense for domestic businesses to take advance of online marketing through social media networks because it allows them to easily reach their target demographics.
The online marketing scene in Vietnam is dominated by Facebook and Google with majority of the advertising fees gained from domestic firms. However, there are still firms that use email marketing, online newspapers and printed newspapers including television.
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