Vietnamese SMBs to Strengthen Competitiveness by Optimizing Online Marketing

 

E-commerce in Vietnam is stepping into the stage of rapid development starting from 2016 with US$4.07 billion  of online sales in 2015 and expected US$10 billion in the next five years. However, businesses are facing remarkable obstacles, including customer trust, payments and online marketing tools. According to Nielsen’s Global Trust in Advertising 2015, Vietnamese consumers place most confidence in advertisement on search metrics, and then social networks, online video and banners.

 

While online marketing has an intimate relationship with online shopping, many Vietnamese businesses have not paid much attention to this tool. The E-commerce Business Index 2015 reported that online marketing expense in 2015 grew slightly compared to 2014. Only a few businesses have invested in online marketing but the amount is insignificant and not much effectiveness was recorded. It was reported that 53 per cent of businesses who participated in the survey spent less than 10 million Vietnam dong for online marketing, which was comparable to 2014.

 

Mr Nguyen Thanh Hung, President of VECOM By using trusted domain extensions, there is a level of credibility awarded to these businesses. Considered the global standard for doing business online, numerous global enterprises, including Fortune 500 companies, have chosen .com to build their websites with the desire of extending beyond the local audience. Additionally, with the operational accuracy and stability of the .com DNS infrastructure for more than 18 years, businesses are encouraged to choose .com to be the basis of their online presence.

In order to raise businesses’ awareness of the importance of building an online presence and conducting online marketing, many speakers from world’s big names such as Google, Nielsen, Facebook, etc. have participated in the Forum to share their expertise and guidelines in this field. 

 

Although social media is meant to be a marketing tool, many experts also agree that every small business needs a website. Given the ease of building a website these days, it’s possible for businesses to build a high-quality website to showcase business, and to establish their brand in a form they can control. Seventy-seven percent of small businesses say websites are the most effective online marketing tool for creating awareness and strengthening customer relationships, more than any other online marketing tool.

 

Speaking at the event, Mr Nguyen Thanh Hung, President of VECOM shared: “The most effective way to do business online is to have a website and social media presence that work together to spread your message and foster relationships with the broadest customer audience. The first step towards building a successful and credible online presence is to choose the right domain name.”