On July 29, 2024, TikTok hosted the Vietnam Mega Sales 2024 event with the theme “Opportunities in the 2024 Mega Sales Season.” This year’s event explored groundbreaking and effective solutions for brands and sellers to drive revenue growth during the biggest sales season of 2024.
As one of TikTok’s strategic partners, PMAX participated in the event with its Total TikTok Solution. This solution is designed to help businesses optimize their marketing efforts on TikTok, from brand building to sales promotion. By integrating advanced tools and services, PMAX is committed to helping businesses achieve their goals effectively and sustainably.
Mega Sale Opportunity: Conquering the Shoppertainment Trend
As the leading platform for livestream shopping in Vietnam (according to Kantar, 11/2022), TikTok Shop is demonstrating its exceptional strength. Furthermore, it has risen to the second position among the largest e-commerce platforms in Vietnam (YouNet ECI, 12/2022), affirming its leading position in the e-commerce sector.
The impressive growth of TikTok Shop is evidenced by an 81% increase in the total value of goods (GMV) from TikTok Shop Mall and a 153% increase in GMV from livestream sessions in the past six months compared to the same period last year. These figures highlight the platform’s undeniable appeal to users and the outstanding effectiveness of sales campaigns on TikTok Shop.
YouNet ECI’s Q1/2024 e-commerce platform revenue report
According to a revenue report of e-commerce platforms by YouNet ECI for Q1 2024 and a study commissioned by TikTok and conducted by Kantar in early 2024, the engaging combination of shopping and entertainment during the 2023 Mega Sales program significantly enhanced the shopping experience for users in Vietnam with remarkable results.
Statistics show that in Vietnam, 90% of TikTok users participated in shopping during the 2023 Mega Sales season, driving a strong conversion growth for brands, up to 8.7X. Additionally, 1 in 2 TikTok users made a purchase after discovering a product on the platform.
With a solid foundation and explosive growth, TikTok Shop Vietnam is fully prepared to host large-scale Mega Sales, offering attractive shopping opportunities to millions of users. Sellers will also benefit from these campaigns, gaining access to a massive customer base and significantly increasing their revenue.
Creating Entertaining and Trustworthy Content to Stand Out
The key to driving commercial success lies in content. According to the Kantar Media Reactions 2023 report in Southeast Asia, creativity accounts for 50% of the success of an advertising campaign.
To create engaging content, brands need to understand their customer profiles and shopping habits. According to recent research, TikTok has identified four key customer segments with notable shopping insights that businesses need to grasp to maximize their effectiveness during the Mega Sales season.
- The Bargain Hunters: They enjoy content about great deals, shopping locations, and flash sales.
- The Effortless Shoppers: They prefer content with effective and economical shopping tips, completing purchases on TikTok LIVE, and videos with product links.
- The Inspirational Shoppers: They are drawn to content about random products and trending items.
- The Purposeful Shoppers: They watch content on green shopping trends, product reviews, brand introductions, and behind-the-scenes production.
Finishing Strong with Strategies and Solutions for Businesses During Mega Sales
The behavior of TikTok users in Vietnam promises many breakthroughs during the mega sales season for businesses and sellers. According to research commissioned by TikTok and conducted by Kantar in early 2024, 79% of Vietnamese TikTok users start preparing for the shopping season from a few days to a month before the sale events. This year, TikTok users are likely to spend 1.8 times more than non-users.
To help brands and advertisers maximize their revenue during this special occasion, TikTok has introduced effective marketing strategies and advertising tactics for different audiences, such as the P.A.C.E metric system for sellers.
Additionally, with a focus on enhancing co-branding activities and promoting shared sponsored vouchers, TikTok Shop Vietnam is creating significant growth opportunities during the Mega Sales periods. By partnering with major brands, TikTok Shop will implement various activities such as social co-branding ads, outdoor advertisements, and unique gift boxes to enhance brand and product awareness.
The shared sponsored voucher program, in particular, will offer users unprecedented attractive incentives like 50% discounts and free shipping. Brands participating will also benefit from reaching a large number of potential customers and boosting brand recognition.
Moreover, TikTok Shop Mall will play a crucial role in optimizing the shopping experience for users. With advantages like optimal display, marketing exposure, and free shipping vouchers, TikTok Shop Mall will be the ideal destination for users seeking genuine products with guaranteed quality.
Through these efforts, TikTok Shop Vietnam is building a vibrant and diverse e-commerce ecosystem, offering attractive shopping experiences for users and creating numerous collaboration opportunities for brands.
Full-Funnel Strategy: Leading the 2024 Mega Sales Season
The TikTok Vietnam Mega Sales 2024 event is not only a forum for updating new trends but also a golden opportunity for PMAX to connect, share, and affirm its position as a reliable partner for businesses. Here, PMAX had the chance to meet and listen to hundreds of partners from various industries.
“We understand that conquering the potential-rich TikTok platform comes with many challenges. Many businesses face difficulties in harmonizing brand building and sales promotion or struggle with fragmented, unsustainable marketing strategies.”
With the desire to accompany businesses in overcoming these obstacles, PMAX introduced the Total TikTok Solution. This solution focuses on seamlessly integrating Branding and Commerce activities, helping businesses build a complete sales funnel, from attracting potential customers to closing sales and enhancing customer loyalty. By using integrated marketing activities, businesses can both strengthen their brand image and achieve sustainable business effectiveness.
Highlights of the Total TikTok Solution:
- Integrated Funnels: Optimizing each stage of the customer journey, from awareness to purchase.
- Integrated Activities: Combining various marketing activities to create a powerful ripple effect.
- Data-Driven: Using data to continuously measure effectiveness and optimize strategies.
Total TikTok Solution – Source: PMAX
With the Total TikTok Solution, PMAX is committed to helping businesses achieve their goals on TikTok, maximizing investment efficiency, and building a sustainable brand.
Contact us for the best advice and support in implementing effective marketing strategies on TikTok.
