TPSO urges businesses to switch to digital advertising
The Trade Policy and Strategy Office (TPSO) is recommending business operators to use digital advertising to boost their revenue.
While Facebook still leads the stakes, TikTok has seen a significant surge of 189% in just one year. Digital advertising in Thailand is projected to account for an estimated expenditure of 27.48 billion baht in 2023, representing growth of 7%
TPSO director-general Poonpong Naiyanapakorn noted that digital advertising is a rapidly growing market. In 2021, the global digital advertising expenditure was projected to reach 522.5 billion US dollars, and it is expected to expand further to 836 billion US dollars by 2026. This aligns with the digital advertising trend in Thailand, which has been continuously expanding despite the Covid-19 pandemic.
According to the Digital Advertising Association Thailand (DAAT) and Kantar Thailand, the total digital advertising expenditure in Thailand reached 25.73 billion baht, growing by 4% compared to the previous year.
In terms of investment in digital advertising channels in Thailand, the top five channels in 2022 were:
Meta (Facebook and Instagram): 8.75 billion baht
YouTube: 3.55 billion baht
Social media: 2.21 billion baht
Online video: 2.16 billion baht
Search: 1.65 billion baht
Furthermore, the survey results revealed that advertising on TikTok experienced a significant leap in 2022, with an advertising expenditure of 1.05 billion baht.
Poonpong emphasised that this consistent and continuous growth indicates the influence of digital marketing in today's business landscape. Digital advertising has become a vital tool to communicate with consumers, enabling them to access products, create awareness, and stimulate purchasing decisions.
Digital advertising not only helps businesses target and reach their desired audience accurately but also provides flexibility in terms of cost and time for ad creation. Moreover, businesses can utilise digital advertising to analyze consumer behaviour through feedback data or sales figures, allowing them to enhance their competitive edge and overall business efficiency, according to Poonpong.
