Digital Advertising Overview: Vietnam (by MGID) (1)
GENERAL INFO
- Today Vietnam is a lower-middle income country in the South East Asia region with 6,8% GDP growth rate;
- GDP per capita was $2551 in 2018. It’s expected to grow and reach $3931 by 2024;
- Salaries in Vietnam vary between $ 101,27 per month (minimum salary) to $ 3313,15 per month (maximum salary). The median monthly salary is $ 725,76;
- Vietnam’s population reached 97,429,061 in 2019 compared to 91M in 2013 and is expected to expand to 120 million by 2050;
- There are 54 ethnic groups within the country. The most major ethnic group is Kinh (Viet) - 85.7%.
DEVICE’S USAGE
Device’s usage is the following: 72% smartphone, 43% laptop or desktop and 13% tablet. Average daily time spent using the internet via the device is 6 hours 42 minutes.
E-COMMERCE VALUE
- Revenue in the eCommerce market amounts to US$2,709m in 2019.
- Revenue is expected to show an annual growth rate (CAGR 2019-2023) of 13.8%, resulting in a market volume of US$4,537m by 2023.
- 51,1M people purchase goods via e-commerce;
- Average annual revenue per user of consumer goods e-commerce (ARPU) is $53.6;
- E-commerce spent per capita is $65;
- In the year 2017 a share of 34.3% of users was 25-34 years old;
- In 2019, 28% of total eCommerce purchases will be paid by E-wallet;
- Ho Chi Minh and Ha Noi city represent the most profitable markets in Vietnam;
- Women constitute 64% of all online buyers, respectively, men are the remaining 36%.
Statistics shown can be found by following this link
MILLENIALS
Vietnamese millennials (23-39 years old) are highly concerned about food safety and health. They are willing to pay more for natural ingredients and health supplements. Besides, they prefer clear labels which disclose a product’s origin and ingredients. Keep it in mind while you will mastering landing pages for nutraceuticals.
They also favor friends or families’ reviews to evaluate new products, so use a storytelling approach to convince them that your product meets their needs. Take a look at the example below.
PAYMENT METHOD
Cash on delivery is the most common payment method chosen by Vietnamese. Bank transfer, credit cards payment, e-wallet are close behind.
BEST PERFORMING VERTICALS
The affiliate marketing community is well aware of the successful verticals in Vietnam. Sexual health, nutraceuticals, and skincare. This is a trend not only for Vietnam but throughout Asia. The big difference is that the Vietnamese are very concerned about food safety and health, thus products with natural ingredients and health supplements catch the consumers’ interest. These are good old products marketers become accustomed to.
MGID has partnered with Vietnamese top publishers vietnamnet.vn and yeah1.com to vary the demand. This is a real shot for a breakthrough since we’ve already seen the result of the BFSI-campaigns and online pharmacy promotion.
As for the promotion funnel being used a lot - we see that straight sale works as well as a content marketing approach.
CREATIVE’S TIP
- Triple-check the copy! You need to be sure you have the right headline;
- Well, as usual, real-looking people have higher CTR, but keep in mind, they should be local;
- As for the food images, it’s better to show ingredients;
- If you want to surprise the Vietnamese, we suggest choosing something more relevant with a local twist or interesting at first glance with an incomprehensible origin rather than a shocking image;
- We also suggest turning your attention to the helminth issue. Here are a few examples of the images with high CTR;
- Also, headlines mentioning discounts have a higher CTR!
- It is best to use a real background for images of certain products, rather than something abstract. Take a look at the example below:
- If you want to advertise products for children health, you should use collages showing children faces and the product. This will help to generate a higher CTR;
- Do not forget that all captions must be in Vietnamese;
- MGID is also partnered with KIA. After the test, we realized that photos of cars on a real background (city, nature) or its interior photos have a higher CTR;
Now let’s consider which strategy to follow in order to promote products aimed at fighting the helminth infection. You can see the teasers with high CTR below.
It’s obvious that images of fresh fruits, vegetables, or plants work as well as images of female doctors. Next, how to make people interested and convert them into leads? You can use several approaches. Firstly, you may tell a story about a woman, who had such an infection and how with the help of this product she solved this problem. Or you can write an interview with a doctor by explaining how and why the infection works, and how to deal with it with the help of your product. Your goal is to convince people, so make sure your information is credible.
On the whole, we suggest trying a few approaches to see which one works best for your audience!
MGID TRAFFIC DISTRIBUTION
MGID traffic distribution is the following: desktop (19%), mobile (78%) and tablets (3%). Overall, MGID processes around 3,5 million clicks per week in Vietnam.
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MGID team
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