What is TikTok Marketing?
TikTok marketing encompasses promotional efforts for specific products or services conducted on the TikTok platform. The primary objective for businesses engaging in TikTok marketing is to raise awareness about their products and brands among a vast audience.
With TikTok marketing, you have the potential to reach millions of users by creating videos with clear and impactful messages. To maximize the effectiveness of your videos, it’s crucial to craft content that leaves a lasting impression, incorporates fresh ideas, and features catchy audio.
Why Should Businesses Embrace TikTok Marketing?
Despite its relative newness compared to social media giants like Facebook and Instagram, TikTok has experienced explosive global growth. As such, businesses should consider TikTok as an integral part of their marketing strategy to avoid missing out on valuable opportunities.
TikTok’s Remarkable Growth Trajectory
Thanks to its innovative and creative features, TikTok achieved a remarkable milestone by amassing approximately 55 million users worldwide in early 2018. This figure surged to 217 million users by the end of 2018 and reached over 507 million by the end of 2019. As of July 2020, TikTok boasted a user base exceeding 1 billion.
According to statistics, TikTok surpassed YouTube in terms of average daily viewing time in June 2020, with TikTok users spending an average of 24 hours per month on the platform, as opposed to YouTube’s 22 hours and 40 minutes. TikTok is hailed as the most successful Chinese tech company in terms of global user acquisition.
Astounding Revenue Figures
TikTok derives a substantial portion of its revenue from advertising and assisting businesses in creating advertising videos. TikTok marketing offers diverse advertising formats, each potentially yielding an average profit of $150,000 per day. In 2018, TikTok generated over $3.5 million from in-app purchases made by users.
According to the Hurun Research Institute in Shanghai, ByteDance, TikTok’s parent company, experienced the second-highest growth rate among 428 companies in terms of increased value from October 2020 to July 2021, with a growth rate of 168%, ultimately reaching a valuation of over $280 billion.
Target Audience on TikTok
TikTok predominantly attracts a young and modern user base. According to a 2019 report by GlobalWebIndex, users aged 16 to 24 account for 40% of TikTok’s user demographic, with a higher percentage of female users across all age groups.
TikTok’s creators have a deep understanding of today’s youth’s preferences, enabling users to freely express their personality and creativity through posted videos. This keen insight into user psychology has propelled TikTok to become a favored platform among young individuals.
User Behavior on TikTok
Research from Business of Apps reveals that over 90% of TikTok users access the platform more than twice a day, spending an average of approximately 52 minutes per session. Most TikTok users primarily consume content rather than create and upload videos.
Effective TikTok Marketing Strategies for Businesses
Here are some effective TikTok marketing strategies for businesses to thrive and expand:
1. Establish a TikTok Business Account:
Create a TikTok account for your brand and commence content creation. Explore the platform’s features, including popular music tracks and trending filters.
2. Identify Your Target Audience:
Gain insights into your target audience’s demographics and interests. Research the content they engage with and devise specific content ideas for your brand.
3. Copyright and TikTok Policies:
Familiarize yourself with TikTok’s copyright and trademark policies. Show respect for content creators’ and brands’ rights to avoid any issues that could negatively impact your account’s visibility.
4. Competitor Analysis:
Study your competitors’ presence on TikTok. Analyze their strategies, content, and engagement to learn from their successes and enhance your own approach.
5. Set Clear Business Goals:
Define SMART (Specific, Measurable, Achievable, Relevant, Time-Bound) goals for your business. Focus on enhancing your brand image, raising awareness of your products or services, and nurturing customer relationships.
6. Consistent TikTok Activity:
Plan your TikTok content in advance and maintain a consistent posting schedule. Regularly sharing engaging videos will help you effectively reach your target audience.
TikTok marketing offers an exciting avenue for businesses to connect with a vast and engaged audience. By understanding the platform, your target audience, and implementing effective strategies, you can harness TikTok’s burgeoning popularity to promote your brand and achieve remarkable success.
TikTok marketing offers a wealth of opportunities for businesses to reach a vast and engaged audience. With its rapid growth, unique features, and impressive user base, TikTok is a platform that no business should overlook. By crafting effective marketing strategies, understanding your target audience, and adhering to TikTok’s policies, your business can thrive in this dynamic landscape. So, embrace TikTok marketing and unlock the potential for business success in the digital era.