Exploring marketing opportunities on TikTok
What is TikTok?
To put it simply, TikTok is a social media platform used to make a variety of short-form videos that have a duration of fifteen seconds to three minutes. The videos range from viral dance challenges to comedic skits and videos educating people on social issues.
Why it should be on your radar
Unless your business is a dance studio or a comedy club, you may be wondering why you should pay any attention to TikTok at all. Well, here are a few stats on TikTok that should help provide a little context as to why it should definitely be on your radar as a potential marketing tool:
- TikTok has been dubbed the fastest growing app of all time
- It’s one of the most globally downloaded apps of the past 2 years
- During the pandemic, it achieved the most downloads for a social app in one quarter
- It’s the 9th biggest social platform, ahead of Twitter, Snap, Linkedin & Pinterest
- Reached the same amount of active monthly users as Instagram in half the time.
The above stats demonstrate the vast popularity of the app, but also show that the TikTok user-base provides a significantly large (and growing) audience to market to. Initially, this may only appeal to business-to-consumer businesses. However, as the consumer population on TikTok grows, so too will the business population. Therefore, B2C & B2B businesses alike should be paying attention to TikTok.
How to use it to market
So now you’ve been convinced of TikTok’s relevance & potential, you’re probably wondering how to actually go about using it for your business. Well, you have two main options:
- You can create a TikTok profile for your business & use it to spread your marketing messages
- You can approach TikTok creators & influencers to help spread your message to a larger audience
You also have the option of using both in conjunction. While TikTok doesn’t currently have a formal profit sharing system for advertising, it is something they’ve experimented with in the past. This means it’s likely something they’ll institute in the future. In fact, a leaked document from within the organisation suggests that future ads on TikTok could take the form of: brand takeovers, In-feed native videos, Hashtag challenges, & Snapchat-style 2D lens filters for photos.
Advantages of using Tik Tok
One significant advantage of TikTok is that all creators have an equal opportunity of going viral, regardless of their following (according to popular TikTok influencer, Jeanie Weenie). This means businesses can choose from a wider variety of content creators and influencers on TikTok to help them spread their message. This may also be a more cost-effective method of partnership as creators with a smaller following may become more popular after working with certain brands.
Another advantage of TikTok is the demographic of its user-base: approximately 66% of TikToke users are under 30 and a similar percentage are female. For businesses targeting a younger/female demographic, TikTok provides a relevant and engaged audience.
Disadvantages of TikTok
Despite its rapid growth & popularity among consumers, TikTok hasn’t yet established itself as a suitable platform for B2B marketing. If your business is not aimed at consumers, TikTok may not (currently) be the right platform to market your products or services.
As well as being mainly catered towards consumers, TikTok is also exclusively for short-form content. This means more complex businesses may find themselves unable to give as much detail as they would like to, when using TikTok to promote their business, products or services.
In conclusion, TikTok is primarily geared towards social interaction for the time being. As far as marketing goes, other platforms seem better equipped to help marketers reach consumers/other businesses. That said, TikTok is currently more viable for B2C businesses because it’s more consumer-facing.
However, as more consumers download Tiktok & join its community, it’ll attract more B2C businesses and as the business population on TikTok rises, so too will the B2B presence. As of right now, it’s something to be watched and monitored by B2C & B2B marketers alike. Its’ current trajectory suggests that its user-base is likely to continue expanding to the point where it becomes a viable platform for significant marketing investment. In this event, the businesses that monitored TikTok’s progress & understand how to use it effectively will be at a significant advantage over those that didn’t.
If you’re looking for other ways to stay ahead of the competition and deliver creative digital marketing campaigns, get in touch with us today to schedule a complimentary consultation where we can discuss what Ford Creative can do for your business.
By Ore IgeBack to insights