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BRANDING

the brand,” he told local media. “Along with
the mission statement of pioneering the cre-
ation of a digital society, with the rebranding
and launching of a new brand identity, Viettel
wants to show a profound change in mind,
in action, and in future direction, to truly be
a leading and pioneering digital service
provider in the digital age and an extremely
rapidly changing digital society.”
“Overall, the logo is indeed a clean, modern
version,” said Mr. Dixit. “It is more dynamic
and freed up from the previous boxed version.
Strategically, had Brand Finance been involved
in this rebranding exercise, we would certainly
have done an economic ROI (return on invest-
ment) evaluation of the various logo options
and then concluded which one drives more
Modern mission value increase for the brand, which one would
have contributed to higher profitability, more
customer acquisition, increase lifetime value
Viettel leads the country in terms of brand value of customer, and so on.”
and it’s not resting on any laurels as it adopts new strategies. Corporates in Vietnam are still being guided

T LINH SAN REPORTS by local brand consultants about soft measures
as a way of evaluating initiatives and measuring
success. But the world moved beyond those a
few years ago. The Marketing Accountability
Standards Board (MASB) has certified the
eading brand valuation and strategy ing to Mr. David Haigh, CEO of Brand Finance. Brand Finance values and rankings as the
consultancy Brand Finance puts thou- Late last year, Brand Finance Asia Pacific true measure for marketing ROI. In the absence
L sands of the world’s top brands to the also released the Brand Finance Vietnam 50 of an economic ROI analysis, it is difficult to
test every year, evaluating which are the most 2020 report - the annual report on Vietnam’s say what additional benefit this logo will
valuable and strongest. most valuable and strongest brands - in which provide versus the existing one. It’s refreshing,
Its annual report on the most valuable Viettel, VNPT, Vinamilk, Vinhomes, and but what does that mean? It may contribute
and strongest brands, released in January, Sabeco dominated the top 5 yet again, with a $100 million to the brand value, or may con-
announced the Global 500 2021, in which combined brand value of over $13 billion, tribute only $20 million. “Since such financial
Viettel ranked 325th with a brand value of with Viettel retaining its position at the top, assessment tools are now available, we wish
$6.06 billion, up 32 places from 357th in the followed by VNPT and Vinamilk. Viettel had done an economic ROI assessment
2020 rankings. The average brand value in terms of market share increase, revenue
growth for telecom companies within the Refreshing change increase, and brand value contribution from
Global 500 was -2 per cent. “Viettel has once After implementing a universalization of this new logo before embarking on a very
again shown its dominance in Vietnam as it telecommunications services in Vietnam, expensive exercise such as this,” Mr. Dixit
claims the title of the nation’s most valuable Viettel announced a new mission of pioneering said. “But in the absence of any such analysis,
brand for the fifth consecutive year,” said Mr. the creation of a digital society and its transition we can only say this is a refreshing change.”
Samir Dixit, Managing Director of Brand from a telecom service provider to a digital
Finance Asia Pacific. While many brands in service provider. Earlier this year, it formed Again at the top
the rankings have performed well this year six key platforms for a digital society, including In order to retain its top position in the
in terms of brand value, it is brand strength digital infrastructure, digital solutions, digital Brand Finance Vietnam 50, Viettel must main-
that provides an opportunity for growth. content, digital finance, cybersecurity, and tain its Brand Strength Index score, Mr. Dixit
Telecom companies become increasingly high-tech industrial production research, added. It should ideally also start to track
commoditized over the last few years in this which all help the group grow its brand value. which of its activities, campaigns, corporate
age of connectivity, and telecom operators It also unveiled new branding in January, social responsibility (CSR) programs, and spon-
have had the opportunity to move away from including a new logo and slogan, marking its sorships, etc., are adding to the brand value
commoditization and transform into digital second rebrand, after the first in 2004. The and which ones do not contribute any increase.
enablers. The key will be the ability to create new logo has a red color, which aims to evoke Viettel should also have brand value and
attractive bundled products to generate inte- youthfulness, desire, passion, and dynamism. brand strength index targets as management
grated solutions for consumers and businesses. The new slogan, “Your way”, helps Viettel KPIs (key performance indicators). “The role of
Tech brands have experienced unprece- convey a message of encouraging each person the senior management is to drive the intangible
dented demand for their products and services to be more creative and express themselves, value for shareholders and investors,” he said.
with the onset of Covid-19. At the same time, together creating better value for life. “Not just bottom line revenue and profits. Viettel’s
across sectors, brands that have pushed the According to Mr. Le Dang Dung, acting management must therefore set a brand value
boundaries of technological innovation have Chairman and General Director of the Viettel and brand strength index target for themselves.
remained a cut above the rest, able to pivot Group, the reason for the rebranding is a What gets measured gets done. So, having some
their business to adapt to consumers’ changing major change in its development strategy. financially quantifiable brand KPI measures will
needs. 2021 is the final call to get on board for “This led to a change in the logo and slogan, be crucial for Viettel’s regional and global com-
all brands still stuck in the 20th century, accord- as well as an addition to the core values of petitiveness and success.” %

40 | VIETNAM ECONOMIC TIMES | MARCH 2021