VIETNAM INFLUENCER MARKETING GUIDE 2024:
UNLOCK THE INFLUENCE OF KOLS AND GAIN INSIGHTS INTO EMERGING MARKET OPPORTUNITIES
This article is part of a series analyzing cross-border influencer marketing trends. AsiaKOL will release insights on influencer marketing for six Southeast Asian countries: Malaysia, Thailand, the Philippines, Indonesia, Singapore, and Vietnam. Among these, Vietnam stands out as a rapidly growing economy with a large population of young consumers, making it a new battleground for brand marketing. As social media becomes more widespread, numerous internet celebrities from various fields are emerging, each with significant follower counts and increasing influence. This article will focus on the influencer marketing landscape in Vietnam, providing a deep analysis of the latest market trends, KOL (Key Opinion Leader) business models, and the current status of various platforms. This information is intended to serve as a practical reference for brands looking to enter and excel in the Vietnamese market.
1. Market Background in Vietnam
(1) Population Reaches 100 Million
Vietnam's population has reached 100 million, with an average age of 32.7 years. The country boasts a significant young workforce. According to a recent report, the high smartphone penetration rate and large population have contributed to increased Internet usage. The most popular communication app is Zalo, while Facebook and TikTok are widely used social media platforms.
(2) A Blend of Chinese and Western Cultures
Vietnam has a rich cultural heritage. Due to its proximity to China, it shares many cultural similarities with Chinese traditions. The country was once colonized by France, leading to influences from both China and Western cultures in aspects such as food, architecture, and beliefs.
(3) Open Global Perspective
Vietnam plays an active role in international affairs and serves as a significant hub for global manufacturing, drawing in substantial foreign investment. Culturally, the country is integrating with the world by enhancing its natural landscapes and cultural heritage to attract international tourists. Additionally, it combines these elements with its traditional cuisine to promote the development of international tourism.
(4) Internet Celebrity Economy and The Growth of The Advertising Market
According to data from the General Statistics Office of Vietnam (GSO), Vietnam's GDP growth rate is projected to reach 7.09% in 2024. This growth will accompany a significant increase in per capita GDP, expected to be approximately US$4,900. The strong economic performance has led to the rise of e-commerce and social media, which are laying the groundwork for the development of the internet celebrity economy. Additionally, data from Statista indicates that Vietnam's advertising market spending is anticipated to reach US$99.68 million by 2025, with an expected annual growth rate of 10.22%, potentially increasing to around US$147.1 million by 2029.
2. Influencer Marketing Trends in Vietnam
(1) Influencer Marketing Drives Conversions
77% of Vietnamese online consumers have bought products based on recommendations from influencers. This indicates that many online consumers trust influencers' word-of-mouth marketing and are likely to make purchases.
(2) The Popularity of TikTok Among Young People
Generation Z enjoys short videos, with TikTok ranking as the fourth largest social media platform in Vietnam. Therefore, brands should not overlook the vast opportunities presented by short video marketing.
(3) Micro and Nano Influencers Are Emerging
Micro and nano influencers have fewer followers than macro influencers, leading to stronger connections between them and their audience. These influencers engage with a highly targeted and dedicated group of people who are more likely to connect with their content.
(4) Marketing Budget Share
Influencer marketing is becoming increasingly popular in Vietnam. Family and education brands represent the largest portion of budget spending on influencer marketing campaigns, accounting for 51%. Food and beverage brands come in second, making up 24% of the budget, while popular beauty products rank third.
3. Distribution of Vietnamese KOL followers
In Vietnam, medium and macro influencers primarily use YouTube, whereas micro and nano influencers are more active on Facebook and Instagram, with Facebook having a larger share. For brands looking to leverage micro and nano influencers for product promotion, Facebook and Instagram can generate greater traffic. Additionally, incorporating short videos can help solidify brand awareness among consumers.
In comparison to other Southeast Asian countries like the Philippines, Thailand, Indonesia, and Malaysia, Vietnam's KOL ecosystem reveals interesting trends. Macro influencers in these countries tend to favor YouTube as their primary platform, while micro and nano influencers predominantly use Facebook. This difference may stem from the unique characteristics of each platform. Facebook focuses on articles, photos, and short videos, making it easier for influencers to share their lives with followers. In contrast, creating content for YouTube typically requires a greater investment in production costs.
4. Distribution of Vietnamese KOLs by Field Type
Vietnamese KOLs can be categorized into three main groups: "gaming," "performing arts," and "automobiles and motorcycles." Among these, the "gaming" category is notably the most prominent. Vietnam has a young population with a strong interest in games and entertainment. This, combined with the growing popularity of gaming culture and the rise of game live streaming, has led many individuals to pursue careers in game development and video content creation, especially in the performing arts. The younger generation is bold in expressing themselves, which drives the growth of the digital entertainment industry.
5. 2024 Vietnam KOL Ranking
AsiaKOL utilizes the exclusive AIE Influencer Evaluation Database to rank the top 20 Vietnamese KOLs in 2024. This ranking is based on comprehensive evaluation scores that consider factors such as influence, interactive participation, and content relevance. The data reveals that these top 20 KOLs tend to operate across multiple platforms, with their platform choices closely related to their specific fields. For instance, gaming KOLs primarily use Instagram and YouTube, as these platforms are well-suited for video and audio promotions. In contrast, beauty and skincare KOLs largely favor Facebook and Instagram for text and image communication. Notably, more than half of the top 20 KOLs have a total follower count exceeding one million, indicating that Vietnam's prominent internet celebrities wield significant influence. Additionally, the strong presence of gaming KOLs in the top 20 highlights the vast potential of Vietnam's gaming market, while the opportunities in the beauty and skincare sector should not be overlooked.
*Scroll to the end of the article and fill in the information to get the complete ranking of Vietnamese KOLs (TOP50) for free.
Master The Influencer Marketing Strategy – The Door to The Vietnamese Market
The Vietnamese influencer market offers immense potential. With a young population and the widespread use of social media, numerous KOLs have emerged, prompting brands to focus on influencer marketing. Key strategies for successful influencer marketing include cross-platform marketing, careful selection of cooperating influencers, and choosing the right marketing angles. AsiaKOL has extensive experience in the Southeast Asian marketing landscape and possesses a rich database of information. This expertise can assist brands in effectively promoting their products in overseas markets. If you need influencer marketing support in Vietnam or other Southeast Asian countries, please fill out the demand form, and a specialist will reach out to discuss your needs further.