One of the activities that we do in HCMC is the M2 – Marketing & Media events. These are monthly events that are targeted at people in advertising, brands, digital, marketing and media. We started the events in April 2014 and have held more than 20 events featuring 60+ speakers to date.
Last week, on April 6th, we held our 2nd anniversary event. The theme for the event was on “2016 - Vietnam Consumer Trends”, and the event was co-hosted with ESOMAR and VMRC – The Vietnam Market Research Community. We were ecstatic, and a bit overwhelmed, that the event attracted 270 people, our largest ever attendance at an M2 event.
We had the participation of six of Vietnam’s most respected names in market research – Tran Lien Phuong (aka "Skinny") from InsightAsia who acted as the MC / Moderator for the evening; Richard Burrage from Cimigo; Ralf Matthaes from Infocus Mekong; Ricardo Glenn from Kantar Media; Phil Worthington from Millward-Brown and Dzung Nguyen from Nielsen Vietnam.
All of our speakers have years of experience in Vietnam ... and as someone in the audience pointed out, Richard, Ralf and Phil have all been in Vietnam 20+ years ... longer than 30% of the Vietnamese population.
It’s easy to focus on personalities at our events ~ and as anyone who’s been in Vietnam for more than one year knows, some of our speakers are among the most unique personalities in this country. But rather than talk about the “boys” I’d like to highlight some of the conclusions / insights that our moderator and speakers made about the market research industry and Vietnam consumers.
Insight #1 – The market research industry is going through monumental change on a worldwide basis as market research through mobile panels grows. Mobile research provides a number of client advantages including costs, the ability to do multiple research projects at the same time and real time monitoring of results.
Insight # 2 – Vietnam has a young population with a high percentage of mobile users so research using mobile rather than in-person becomes increasingly attractive.
Insight # 3 – Vietnam is a unique market where TV viewership continues to grow and mobile penetration continues to grow at the same time.
Insight # 4 – Digital marketing executives who are waiting for TV advertising spend to shift to digital advertising are going to have to wait longer, as Vietnamese TV continues to grow.
Insight # 5 – As traditional TV viewing is shifting to viewing across multiple devices – smartphones, tablets and personal computers – future TV advertising will include engaging consumers both digitally and on the box in their home.
If TV stations then build out their own web platforms so that their programs can be viewed across multiple devices then the expected shift of advertising spend from TV to digital will not happen in the way that third party web publishers are hoping for.
One thing that everyone agreed to is that Vietnam is a “hot” market for digital / mobile market research and every market research company is adjusting its product offerings to include mobile research integrated with the other specialties that each market research company offers.
A differentiating factor for each firm will be the market segments it focuses on, the quantity and quality of the databases that are used for panels and the back-end IT systems used to analyze data.
To see the PPT presentations from our speakers click here:
- Richard Burrage / Cimigo - Vietnam Consumer Trends 2016
- Ralf Matthaes / Infocus Mekong - Industry Overview & Future Trends of Market Research
- Ricardo Glenn / Kantar Media - TV isn’t Really Dying
- Phil Worthington / Millward Brown - The Future of Market Research
- Dzung Nguyen / Nielsen - Retail Trend 2016 – What’s next?