Telemarketing - Vietnam

Vietnam

Highlights

Ad spending in the Telemarketing market in Vietnam is forecasted to reach US$20.08m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 1.41%, leading to a projected market volume of US$21.85m by 2030.
When compared globally, the United States is expected to generate the highest ad spending (US$4.62bn in 2024).
The average ad spending per capita in the Telemarketing market is projected to be US$0.20 in 2024.
Vietnam's telemarketing sector in the advertising market is rapidly adopting advanced CRM systems to enhance customer engagement and drive sales.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Telemarketing Advertising market in Vietnam is experiencing significant growth and development due to several key factors.

Customer preferences: Vietnamese consumers are increasingly open to telemarketing advertising as a way to discover new products and services. With the rise of smartphone usage and internet penetration in the country, consumers are becoming more comfortable with engaging in phone conversations and receiving promotional calls. Additionally, the younger generation, which makes up a large portion of the population, is more receptive to telemarketing as they are more tech-savvy and open to exploring new opportunities.

Trends in the market: One of the key trends in the telemarketing advertising market in Vietnam is the shift towards personalized and targeted marketing campaigns. Companies are leveraging data analytics and customer insights to tailor their telemarketing strategies to individual preferences and needs. This allows for more effective communication and higher conversion rates. Additionally, there is a growing emphasis on customer relationship management, with companies investing in building long-term relationships with customers through personalized interactions. Another trend in the market is the integration of telemarketing with other digital marketing channels. Companies are using telemarketing as part of their multi-channel marketing strategies, combining it with email marketing, social media advertising, and other online platforms. This integration allows for a more cohesive and comprehensive marketing approach, reaching customers through multiple touchpoints and maximizing the effectiveness of each channel.

Local special circumstances: Vietnam has a large and growing middle class population, which presents a significant opportunity for telemarketing advertising. As disposable incomes rise, consumers are more willing to spend on products and services, making them attractive targets for telemarketing campaigns. Additionally, the Vietnamese market is relatively untapped compared to more developed markets, providing ample room for growth and expansion.

Underlying macroeconomic factors: Vietnam's strong economic growth and stable political environment are contributing to the development of the telemarketing advertising market. The country has experienced consistent GDP growth over the past decade, leading to increased consumer spending power. This, coupled with favorable demographics and a growing middle class, creates a conducive environment for telemarketing advertising to thrive. In conclusion, the Telemarketing Advertising market in Vietnam is experiencing growth and development due to changing customer preferences, such as increased openness to telemarketing and the desire for personalized marketing. The market is also characterized by the integration of telemarketing with other digital marketing channels. Vietnam's growing middle class population and favorable macroeconomic factors further contribute to the market's growth potential.

Data coverage:

The data encompasses B2B enterprises. Figures are based on Telemarketing Advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers the advertising budget used for distributing advertisements via telemarketing.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet coverage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets. The main drivers are GDP per capita, consumer spending per capita, and internet users.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.