Vietnam’s advertising industry is experiencing dynamic growth, driven by rapid digitalisation and increasing consumer engagement on various platforms. The market is projected to expand significantly, with TV and video advertising leading the sector. Despite the digital shift, traditional advertising mediums like out-of-home (OOH) and print have retained some relevance, particularly in reaching specific demographics. However, the dominance of digital platforms is evident, with social media and influencer marketing playing a crucial role in shaping consumer preferences and brand visibility.
Digital advertising, including social media and search advertising, is the fastest-growing segment. Platforms like Facebook, Instagram, and TikTok are highly popular among Vietnamese consumers, and brands are leveraging these channels to create personalised and engaging campaigns. Influencer marketing has also gained momentum, with brands collaborating with local key opinion leaders (KOLs) to connect authentically with their target audiences. This trend is expected to continue as digital penetration increases and more consumers turn to online platforms for information and entertainment.
Looking ahead, the industry is set to benefit from advancements in artificial intelligence and the adoption of sustainable practices in advertising. AI is being used to optimise campaign targeting and effectiveness, while a growing emphasis on eco-friendly advertising reflects consumer demand for socially responsible brands. This evolution presents both opportunities and challenges for businesses aiming to remain competitive in Vietnam’s vibrant advertising landscape.
Vietnam’s advertising industry in numbers
The advertising market in Vietnam is projected to reach a total ad spending of US$2,743 million in 2024. The largest segment within the market is TV and Video Advertising, with a projected market volume of US$1.24 billion, according to data collated by Statista.
Furthermore, the digital advertising segment is set to dominate in the future, with 59 percent of total ad spending expected to come from digital sources by 2029. This shift reflects the increasing digitalisation and consumer engagement on platforms like social media and online video.
Domestic advertising firms
Several key domestic advertising firms play a significant role in Vietnam’s dynamic advertising industry. These companies offer a wide range of services, including digital marketing, branding, public relations, and advertising strategies tailored to the local market.
ConeX Online Advertising JSC
Based in Hanoi, ConeX Online Advertising is a midsize firm established in 2010. The company provides advertising, digital strategy, SEO, and social media marketing services. Their focus on a comprehensive approach to digital marketing helps clients achieve strong online visibility and engagement.
Beacon Asia
Operating from Ho Chi Minh City, Beacon Asia specialises in advertising, branding, and marketing strategy. Founded in 2020, this small agency focuses on innovative solutions for clients such as Timo Digital Bank, offering a tailored approach to branding and digital marketing to meet the specific needs of its clients.
Galaxy Communications
With offices in both Hanoi and Ho Chi Minh City, Galaxy Communications is a well-established advertising and public relations firm founded in 1994. The company works with notable brands like Heineken, Samsung, and Uniqlo, providing services that include event marketing, digital strategy, and public relations.
These firms, along with others such as MullenLowe Vietnam and Kreativa Media Vietnam, are shaping the advertising landscape in Vietnam through their expertise and innovative approaches to marketing and communications
Foreign advertising firms in Vietnam
Foreign advertising firms have a significant presence in Vietnam’s advertising market, dominating a substantial share of the industry. These companies have leveraged their global expertise and resources to gain a strong foothold through acquisitions and partnerships with local agencies.
TBWA Vietnam
As part of the Omnicom Group, TBWA Vietnam is known for its creative and innovative marketing strategies. The agency collaborates with major brands such as Vinamilk, Standard Chartered Bank, and Adidas, utilising its “Disruption Live” model to create impactful campaigns that resonate with Vietnamese consumers. TBWA’s expertise in integrating cultural triggers into its marketing initiatives has made it a prominent player in the market.
Ogilvy Vietnam
Ogilvy has been a staple in Vietnam’s advertising landscape since 1995, offering a comprehensive range of services including brand strategy, advertising, and digital transformation. The agency is well-regarded for its iconic campaigns for brands like Milo and Lazada, and it continues to expand its capabilities, aiming to remain a leader in the industry.
Dentsu Vietnam
Dentsu is another major foreign firm operating in Vietnam, providing services such as digital marketing, media planning, and branding. Known for its extensive research tools and market insights, Dentsu has become a trusted partner for many international and domestic brands, including Toyota and Ajinomoto. The agency’s acquisition of Ambient Vietnam has strengthened its position in the digital marketing space.
Saatchi & Saatchi Vietnam
Saatchi & Saatchi Vietnam, part of the global Publicis Groupe, is known for its creative excellence and strategic campaigns. It has worked with high-profile clients like Toyota, Nestlé, and P&G, delivering integrated marketing solutions that combine creativity with data-driven insights. The agency’s focus on developing strong brand identities and impactful digital campaigns has cemented its role as a key player in the Vietnamese advertising industry.
These firms, alongside others like MullenLowe and Cheil, continue to shape Vietnam’s advertising landscape, bringing international standards and innovative practices to the local market.
Vietnam’s main advertising products
Vietnam’s advertising industry features a diverse range of products, with key areas being digital, television, and outdoor advertising.
Digital Advertising
Digital Advertising is currently the fastest-growing segment, accounting for over half of total ad spending. It encompasses social media, search advertising, and influencer marketing. Platforms like Facebook, Instagram, and TikTok are widely used by brands to engage with consumers, especially younger audiences. Influencer marketing has become a popular method for connecting with consumers, leveraging local key opinion leaders to build brand visibility and credibility.
Television and Video Advertising
Television and Video Advertising remain dominant, particularly during high-viewership events such as sports and holidays. TV advertising is highly effective due to its broad reach and the unskippable nature of traditional broadcasts, making it a preferred medium for large-scale campaigns. Digital video advertising is also on the rise, with platforms like YouTube becoming essential for reaching online audiences.
Out-of-Home (OOH) Advertising
Out-of-Home (OOH) Advertising, including billboards and transit ads, continues to be a powerful tool for brand visibility, especially in urban areas. Despite the growth of digital media, OOH advertising remains relevant for reaching a broad demographic across different locations, complementing digital and TV campaigns.
These diverse advertising channels contribute to a robust and evolving industry, with digital transformation playing a key role in shaping future trends and strategies
Advertising regulations in Vietnam
The Advertising Law, enacted in 2012, establishes the legal framework for all advertising activities in Vietnam. It outlines the standards and requirements for advertising content across various media, including print, television, and digital platforms. The law aims to ensure that advertisements are accurate, ethical, and do not mislead consumers. It also regulates promotional activities and sets out the responsibilities of advertisers, advertising agencies, and publishers. This is further details in several key decrees including:
Decree 181/2013/ND-CP
This decree, implemented in 2013, is a comprehensive regulation governing advertising activities in Vietnam. It provides guidelines on the content, format, and mediums of advertising to ensure ethical practices and protect consumer interests. It covers traditional and digital advertising, setting out requirements for transparency and accuracy in advertisements. The decree also establishes the roles and responsibilities of various stakeholders, including advertisers, publishers, and regulatory authorities.
Decree 70/2021/ND-CP
This decree amends and supplements Decree 181/2013, focusing on cross-border advertising services provided by foreign platforms like Facebook and Google. It requires these platforms to remove advertisements that violate Vietnamese laws within 24 hours of notification from the Ministry of Information and Communications (MIC). The decree also mandates that foreign service providers register and provide detailed information about their operations, including contact information and server locations, before starting operations in Vietnam. This is aimed at enhancing the control and regulation of digital advertising and ensuring compliance with local laws.
Decree 54/2017/ND-CP
Decree 54/2017 regulates pharmaceutical advertising and promotional activities. It sets strict guidelines on how pharmaceutical products can be advertised, ensuring that they are not misleading and do not exaggerate the benefits of the products. The decree also specifies the need for prior approval from the Ministry of Health for any advertising related to pharmaceuticals, ensuring that all claims made in advertisements are substantiated and in line with national health policies.
These decrees collectively form a robust regulatory framework for advertising in Vietnam, aimed at ensuring ethical practices, protecting consumer rights, and maintaining fair competition in the market.
What’s next?
The future of Vietnam’s advertising industry is set to be shaped by several key trends and developments. Digital transformation will continue to play a crucial role, with online advertising expected to lead the market due to the rising penetration of smartphones and increased internet usage. This shift is driven by the growing influence of social media platforms like Facebook, Instagram, and TikTok, which are becoming primary channels for brands to connect with consumers. Video advertising, in particular, is expected to see significant growth as it becomes an essential tool for engaging audiences across these platforms.
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