MarTech platform, Involve Asia, has expanded to Vietnam, marking its continuing expansion in the region.
According to the e-Conomy SEA 2021 report by Google, Temasek and Bain, the e-commerce market in Vietnam is forecast to increase by 32% within 5 years to reach US$39 billion in 2025. In addition, 78.7% of internet users have made an online purchase in 2021 based on a study conducted by We Are Social.
The accelerated pace of e-commerce adoption has pushed merchants in Vietnam to go digital in order to reach their customers, fueling a 23% increase in digital ad spending in 2021 from the previous year, and is projected to grow 14% to US$934 million in 2022.
“Vietnam is an important market for Involve Asia as it is one of the fastest-growing economies in Southeast Asia with a vibrant and technologically savvy population,” said Jimmy How, CEO and Founder of Involve Asia.
“With an e-commerce market in the country that is accelerating rapidly and high social media usage, it presents a ripe opportunity for us to help brands in the country reach their customers through our proprietary MarTech solution in a cost-efficient manner, and ultimately scale their business through partnerships with influencers, apps and affiliate sites.”
According to Involve Asia, one of the challenges it aims to solve in Vietnam is the long payment cycles that marketing partners face when running campaigns on behalf of advertisers, typically between sixty to ninety days.
Leveraging on its proprietary risk scoring system, Involve’s platform enables Advertisers to weed out fraudulent activities and to ensure outcomes are paid out faster.
“We are looking to expand our footprint in the region by helping advertisers grow and manage their marketing partnerships more efficiently,” said How.
“One of the ways we plan to do this is to enable Advertisers to leverage our risk scoring system to ensure that their marketing partners get paid quicker, without having to hire additional operational staff as their marketing partnerships scale”
Since its founding in 2014, Involve Asia has been working closely with e-commerce, travel and financial services brands to manage their digital marketing campaigns on the open web across Southeast Asia. Headquartered in Kuala Lumpur, Malaysia, Involve Asia has a presence in six countries in Southeast Asia.