Overview of TikTok's Popularity
Since its launch in 2016, TikTok has captured the hearts and minds of young people across the globe. Its unique style of short-form videos promotes creativity and innovation, making it an irresistible platform for free expression. TikTok's most loved page - the "For You Page" is a game-changing feature that uses a unique algorithm to display content that matches a user's preferences. This personalized approach has transformed the way users engage with the app.
The platform provides an exceptional opportunity for individuals to express their creativity. With its unique features such as music, filters, and other creative tools, TikTok is leading the way in revolutionizing content creation and sharing.
And it is currently one of the most rapidly growing social media platforms worldwide (source).
Potential of TikTok for Businesses
TikTok, often perceived as a social media app for the young generation, has proven to be a valuable asset for businesses. With its vast and diverse audience, TikTok offers an unprecedented opportunity to attract new customers and promote products or services.
In addition, it is a secure and unique space that allows individuals and brands to showcase their concepts, personal content, and individual brands, making it a popular choice for professionals, entrepreneurs, and artists alike. If you're looking to expand your reach or grow your business, TikTok is definitely worth considering.
If you're looking to reach a younger demographic and promote your business or brand, TikTok is the perfect platform for you. However, you should consider some things before proceeding with it.
Forbes suggests targeting an audience between the ages of 16 and 30, as this age range is the most receptive to your message.
With TikTok's popularity among young people, you can effectively increase awareness of your products or services.
Just remember that TikTok is a visually-driven platform, so make sure to create visually-appealing content that showcases what you have to offer.
TikTok is an exceptional platform because it's solely dedicated to videos, eliminating the need to sift through various types of content. This gives you the opportunity to create an array of videos (source), such as:
Videos produced by your team: These videos can introduce your company and its products or services or provide glimpses into what goes on behind the scenes.
User-generated content: Your customers or fans can create this type of content, making it an excellent way to receive feedback and promote your brand.
Ads: TikTok provides a range of advertising options, giving you the chance to reach your target audience with relevant and engaging ads (source).
When creating content for TikTok, it's important to keep your target audience in mind. Once you know what your audience wants, you can create videos that they'll love.
In addition to these things, there are other factors to consider when using TikTok for business, such as:
Your budget: TikTok advertising can be expensive, so it's important to set a budget before you start.
Your time commitment: TikTok is a platform that requires regular engagement, so you need to be prepared to put in the time to create and post content.
Your creativity: TikTok is a platform that rewards creativity, so you need to be willing to experiment and try new things.
Why TikTok for Business?
TikTok is a wonderful platform for businesses of any kind to advertise on. Whether you offer physical products, clothing, or any other type of merchandise, TikTok can help you reach a vast and enthusiastic audience. The key to thriving on TikTok is to craft visually stimulating and captivating videos that feature high-quality footage, catchy music, and intriguing captions. Additionally, using popular hashtags or interacting with catchy trends can help increase the visibility of your videos to a wider audience. (source)
TikTok advertising campaigns can be more cost-effective and efficient than traditional media campaigns. Thanks to the platform's ability to target ads towards specific demographics and interests, businesses can effectively reach their desired audience. Moreover, TikTok's algorithm favors engaging videos with high view counts, providing businesses with an opportunity to expand their reach and increase their exposure. (source)
On average, TikTok users spend 55.8 minutes daily on the platform, which is more than any other social media platform. In contrast, YouTube users spend 47.5 minutes, while Twitter users spend 34.1 minutes on average per day. (source)
TikTok is the most downloaded app globally with 672 million downloads, followed by Instagram with 548 million and WhatsApp with 424 million. (source)
According to a study conducted by Nielsen, 59% of TikTok users experience a feeling of belonging and community while using the platform. This could be attributed to the platform's emphasis on short-form videos that enable users to connect with each other based on common interests and experiences. (source)
TikTok's community presents an excellent opportunity for small businesses to connect with potential customers. By showcasing their products or services through videos, and even hosting contests and giveaways on the platform, businesses can strengthen their customer base.
Plus, it lets them be creative and reach an audience they can't find elsewhere. Instead of being too formal, businesses can share their message in a fun and real way. (source)
Case Studies
TikTok has helped many businesses reach their target audience and marketing goals. The official TikTok Business Page showcases impressive examples. (source)
Hyundai
+13% ad recall | 242M+ impressions | +3.5% brand awareness (source)
Hyundai partnered with TikTok to promote their new electric IONIQ 6 by creating entertaining video content with popular TikTok creators. The ads were shown during a major sports event in North America to increase awareness and match well with TikTok's platform. (source)
Example of a video: https://vm.tiktok.com/ZGJWa9XGs/
Clinique UK
441% increase in conversion rate | 51% increase in click-through rate | 74K incremental search impressions (source)
Clinique utilized TikTok's search feature and Search Ads Toggle to effectively reach users interested in their products. By expanding their In-Feed Ads strategy and placing ads directly on the search page, they were able to connect with a highly active audience on the platform. (source)
Example of a video: https://vm.tiktok.com/ZGJWaHyMd/
Burger King
15x Increase in ice cream sales | 8% Lift in awareness | 58M Relevant video views (source)
Burger King and TikTok's partnership in Turkey led to a 15-fold increase in ice cream sales and 8% increase in product awareness, with Burger King's videos garnering 58 million views. (source)
Statistics
TikTok has a large and engaged audience. (source)
1 billion monthly active users (MAU). This means that over 1 billion people use TikTok at least once a month.
20.83% of internet users worldwide use TikTok. This means that over 1 in 5 internet users in the world use TikTok.
22.32% of active social media users use TikTok on a regular basis. This means that over 1 in 5 active social media users in the world use TikTok on a regular basis.
TikTok is a profitable and growing platform. (source)
Revenue: TikTok generated an estimated $9.4 billion in revenue in 2022, a 100% increase from the previous year.
Users: TikTok had 1.7 billion monthly active users in 2023 and is expected to reach 2 billion by the end of 2024.
Downloads: TikTok has been downloaded over 3 billion times worldwide.
TikTok is available in a wide range of countries and languages. (source)
Countries: TikTok is available in 154 countries worldwide.
Languages: TikTok is available in 75 different languages.
TikTok is more popular than Facebook's Lasso app. (source)
Lasso: Facebook's Lasso app has only been downloaded 250,000 times in the United States since last November.
TikTok: TikTok has been downloaded 41.3 million times in the United States in that same timeframe.
TikTok is already offering ad credits for new brands advertising on the platform. (source)
There are two types of ad credits available: a $300 ad credit and a $2000 ad credit.
This is a testament to the platform's popularity and potential for businesses.
And more statistics...
81% of TikTok users in the United States who made a back-to-school purchase said the platform influenced their decision. This means that TikTok played a role in helping users decide what to buy and where to buy it. (source) + Source: TikTok Marketing Science US Holiday Shopping Behavior Research conducted by Walnut Unlimited October 2020 (n=3000)
TikTok users are more likely to influence their family and friends' purchases than non-TikTok users. In fact, they are 1.8 times more likely to do so. (source) + Source: Future of Commerce research (Vietnam Results) conducted by BCG, 2022 (n=2400). TikTok users are defined as those using the app at least once a month.
74% of Gen Z TikTok users who watch dynamic showcase ads on the platform are likely to seek more information about the advertised product. (source) + Source: TikTok Marketing Science Global Shopping Ad Products Study 2022 conducted by Material February 2022 (n=259)
Conclusion
In summary, TikTok is a fantastic way to connect with a diverse and enthusiastic audience. While it is popular among younger users, its appeal is spreading across all age groups, making it a valuable tool for businesses of all types. It provides a platform for visually stunning and creative advertisements that can enhance brand awareness and drive sales growth.
Numerous case studies demonstrate how companies have effectively used TikTok to increase brand visibility, awareness, and sales. These examples showcase the platform's effectiveness as a marketing tool.
TikTok's unique features, flexibility, and broad reach make it an essential platform for businesses seeking to expand their audience, improve brand recognition, and increase sales in the digital age.