13:18 (GMT +7) - Saturday 18/08/2018

Vietnam Today

The cost for advertising in Vietnam is two low compared to other countries

Released at: 13:48, 02/08/2018

The cost for advertising in Vietnam is two low compared to other countries

Photo: Hai Van

A forum will be organized to discuss online marketing and advertising and other related matters.

by My Van

The cost of advertising in Vietnam is too low compared to other countries around the world according to Mr. Nguyen Dung, Vice President of Vietnam E-commercial Association (VECOM) at the press conference on August 1.

"For example, an American brand pays $2 for an advertisement, but in Vietnam, it only pays $0.2 to $ 0.5. One of the reasons for this is that the viewer of the ad and the audience is not accurate, which leads to distrust. Currently, images of Vietnam's online advertising in the eyes of the world aren't beautiful, and the cost of advertising in the Vietnamese market is too low," Nguyen Dung said.

Another remarkable piece of information that was shared by Nguyen Dung is that Vietnam was listed as one of the top three non-transparent online advertisers. “Con Cung” is a typical example of products that are not what they're advertised.

In order to contribute to limiting the current status quo, the content of the solution for online marketing transparency will be addressed at the first session of the 2018 Online Marketing Forum.

In addition, Online Marketing Forum 2018 will focus on exploring the latest trends as well as the potential to help expand the online marketing sector to increase the market share of Vietnamese businesses.

According to Tran Van Trong, Head of VECOM's Office, the main parts of the 2018 Online Marketing Forum are four sessions: "Marketing Market Overview", discussing the trends of online marketing in the world, the experience of modern consumers; "Human or Robot," sharing information on artificial intelligence applications (AI) in online marketing and effectively exploiting the chatbox; "Data-driven Marketing" with data-driven marketing experience to retain customers and integrating voice recognition to attract customers; and finally "Marketing O2O - from strategy to planning" which discusses smart advertising and multi-channel marketing shifts.

"This is an opportunity to exchange information and drive business solutions and opportunities in the field of online marketing to support e-commerce businesses and identify online marketing strategies. In addition, it helps increase the efficiency of online marketing, but also contributes to expanding the market of online marketing and improving the market share of enterprises, "said Tran Van Trong.

In the afternoon of August 1, in Vietnam, VECOM held a press conference and announced that Online Marketing Forum 2018 will take place on August 15 in Ho Chi Minh City and August 17 in Hanoi with the theme "Human or Robot. Me" It's expected that each event will attract more than 1,000 participants.

The growth rate of Vietnam's e-commerce in 2017 is 25 per cent higher than the previous year. This growth is expected to continue in 2018.

The market also recorded impressive growth over the past year. In the online retail sector, the sales growth rate of 2017 reached 35 per cent. Some large-scale delivery enterprises even saw revenue growths of 62 to 200 per cent.

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