Thanks to their multiple functions, mobile apps have become effective tools for all kinds of businesses. (Photo: Courtesy of Yandex)
The apps have become tools for businesses to easily and conveniently approach customers, optimise operations and develop their brands and competitiveness.
Global data and business intelligence platform Statista reported that by 2025 the world mobile application market would be worth 613 billion USD.
All companies want to get a piece of mobile advertising pie, it said.
But there are also other ways to monetise mobile apps besides advertising, it pointed out, the most popular being paid installs and in-app purchases.
In July this year 3% of apps worldwide were monetised through paid installs, and 4% through in-app purchases.
Advertising continued to lead by a large margin, with 35% of app-developing companies relying on it, it reported.
The need to view advertising may be seen by users as a more tolerable alternative than the requirement to pay.
This greatly simplifies the task of attracting customers and reduces marketing costs per installation.
At the same time, advertising income could well cover the company’s financial needs and bring tangible profits.
In an interview with Vietnam News, Valentina Petrova, head of In-App Partnerships, Asia @ Yandex , said the mobile app market is growing in Vietnam, demonstrated by an impressive revenue of 982.1 million USD in 2023.
“Thanks to the high rate of smartphone and internet usage in Vietnam, mobile applications have now become an important part of people's lives here.”
The majority of app users in Vietnam are quite young and tech-savvy with more than 60% of respondents aged under 30 saying they are willing to try new technologies, she said.
“This makes Vietnam an attractive mobile application market. Vietnam is a promising market for advertisers,” she said.
A report from Rakuten Viber said Vietnamese spend 2.32 hours a day on social media and messaging apps, one minute more than the average global user, indicating that approaching customers through apps is an effective way for companies and small traders.
“Local businesses can reach their audiences through messaging as 73% of Vietnamese customers also prefer to interact with brands through chat,” Viber said.
Its Viber for Business solution is used by more than 20,000 brands world-wide, it said.
Viber for Business offers advertising solutions like native ads, branded stickers and lenses, messaging solutions including business messages and chatbots, and forthcoming business calls and an OTP solution.
In another development, Viber recorded a growing interest in local brand-user interactions in the first half of 2023.
Average daily ad impressions reached 6.4 million with Vietnamese brands using ads to enhance their visibility and attract new users.
There is a 63% year-on-year growth in delivered business messages, with brands increasingly using this tool to send personal 1-2-1 messages to their existing clientele base who gave consent to receive brand notifications, Viber added./.
VNA
