TikTok, a Social Media App known for its “tween” users posting cringey music videos (usually while pulling funny faces). A passing trend, right? You may be wrong.
Some of us may not know that TikTok is one of fastest growing non-paid apps in the market, closing in on Social Platforms like Facebook, YouTube and Instagram. The app has gained a whopping 188 million users in the first quarter of 2019, as well as grossing an overall revenue of US $80 million from in-app purchases (source).
What does this mean for Digital Marketers?
The emergence of a new Social Platform poses great opportunities as well as risks for marketers. Marketers are constantly looking for creative ways to reach their target market, and TikTok is nothing short of just that. A study conducted by GlobalWebIndex revealed that 66% of users enjoy watching other people being creative on the platform, while 60% of users enjoy being creative in their own videos (source).
Brands such as Sony and Red Bull have begun marketing on the app, with a goal of exposing their brand to a younger age group, rather than creating a direct sales channel. Other brands such as Nike and Coca-Cola have created verified profiles, currently looking at a more organic, un-paid approach to their TikTok marketing.
Even German Football Club Bayern Munich have created an account. They’re also taking an organic approach, posting four to five weekly clips of players mainly performing viral dance moves. This has proven to be successful, with the team’s profile gaining 75,000 fans, 4 million views and 400 likes – from a mere 11 posts.
Advantages of marketing on TikTok
- There is hardly any competition for early-adopters, posing a cheaper alternative than established platforms (Facebook, Instagram, etc).
- The uncrowded platform sees greater potential for effective viral videos (with greater engagement than crowded platforms).
- TikTok Influencers are generally cheaper than Influencers on other platforms, presenting great opportunities for brand collaboration, reaching a huge and interactive audience.
Disadvantages of marketing on TikTok
- TikTok is yet to offer intricate targeting and measurement tools for marketers, posing huge doubt for marketers investing a lot of money for limited results. This encourages brands to collaborate with TikTok influencers instead, with greater potential for reach and engagement.
- As the platform is still in its early stages, brands are yet to know the effectiveness of ongoing marketing campaigns, unlike established platforms (Instagram, Facebook, etc).
Can you see TikTok staying relevant in the coming years? Do you see brands focusing Digital Marketing efforts towards TikTok as they do Instagram and Facebook?
Let me know in the comments below!