To help kickoff Huskee Digital’s new TikTok Marketing services, we held our first ever TikTok webinar last September 21, led by our very own Managing Partner, Miggy Azurin.
The talk served as a primer on TikTok, laying down the many reasons why your brand SHOULD be paying attention to this rising social media phenomenon.
Here’s a quick recap for those who missed it:
The story of TikTok
TikTok is a video-sharing app owned by Chinese company ByteDance. The platform is used to make a variety of short-form videos, with typical genres like dance, comedy, and education, all having a duration from 15 seconds to 3 minutes.
But how did this notorious app come about?
In September 2016, ByteDance launched Douyin, a video-sharing app that quickly grew popular in China. Within a year of development, it had 100 million users, with more than 1 billion videos viewed every day.
Seeing the potential of the app, ByteDance decided to expand to the west. Among its biggest moves included the acquisition of social media app Musical.ly in November 2017. This would prove to be a crucial decision, as Musical.ly’s build would lend many key features—like recording yourself over music—which make TikTok the app we know today.
Thus, the highly addictive and engaging app was born!
What do the stats say?
Since then, TikTok has undeniably become one of the hottest apps in the market. To demonstrate, Miggy presented the following stats:
- 1.9B Ad revenue in 2020
- 1B+ users worldwide
- #1 Most Downloaded App in 2020
- 8x Opens per day
- 52 minutes time spent per day
- 60% of users are Gen Z
- #6 Most Used Social Media App in 2020
- #11 in total number of users worldwide
- 28 million+ users in the PH
- 60% of the audience is female
As TikTok continues to level up its features and introduce new innovations, it’s clear that its impressive stats is just the beginning and that the app has no place to go but up.
Why is the Platform so Popular?
What is it about TikTok that brings such incredible numbers? Miggy listed three main reasons:
1) Dopamine Hits
TikTok’s short, bite-sized videos quickly entertain its users. This gets them to consume more content without realizing it.
2) Social Signal
The platform’s viral memes and challenges encourage users to follow and participate in trends. This is all to avoid the fear of missing out (FOMO).
3) Powerful UX/UI
TikTok provides users with a wide variety of video editing tools like filters, 3D elements, and audio effects. The ease of use allows for boundless expression and creativity!
All in all, TikTok effectively satisfies our human need for entertainment, for status or social belonging, for self-expression, and for connecting with other people.
TikTok and the customer journey
Each campaign has a different objective. To determine how best to employ TikTok, you have to assess what you need for the phase you’re in.
For Acquisition, brand awareness can be established through partnerships with content creators.
For Retargeting, retargeted ads can be done based on engagement in the app and the customer base.
For Retention, consumers can be engaged through features, social proof, and reviews.
Like any platform, TikTok works best when you use the right features for the right objective.
Media Buying Models
Advertising platforms charge you through media-buying models. This means you pay based on results. Miggy covered three different models available on TikTok:
CPM – Cost per 1000 Impressions
Under CPM, you pay for how many times an ad was seen. More impressions typically mean your ad is more “relevant”.
CPV – Cost Per View
CPV is the buying model for video views. For Facebook, typically it plays for 3 seconds or 15 seconds. For YouTube, it’s 6 seconds. TikTok is likely to be similar with Facebook although a shorter duration might be necessary to count as a view for shorter videos as well.
CPA – Cost Per Acquisition
CPA is the primary buying model for e-commerce businesses. Under this model, you pay for how many conversions you were able to generate online.
What placements can you choose for ads on TikTok? Currently, there are only two main options:
With paid placements, brands can advertise on TikTok even without an official account. This makes TikTok unique as other social media platforms would typically require the brand to create an account before running ads.
If your brand does have a page, you can use current posts on your page as content for your ads. This allows interested users to easily revisit your content by checking out your feed.
TikTok has been recognized for its extensive targeting options. Miggy shared that there are three main ways that advertisers can categorize and target audiences.
First, interests based on the user’s activity on TikTok. This includes the pages they follow and the content they engage with.
Another variable that can be used to target users is their viewing behavior. TikTok groups audiences based on which types of videos they are likely to finish, partially watch, or skip altogether.
Lastly, users can be targeted based on their engagement behavior or the ways they have interacted with various creators on the app.
Targeting Options Wishlist for 2022
After discussing TikTok’s already great features, Miggy also shared some of the improvements he would like to see from the app that could help tap into more specific consumer profiles.
- Miggy explained how he’d like to see more options relating to typical consumer behavior like spending preferences, online shopping behavior, and even travel.
- Another targeting option that could be introduced can look into the user’s time spent on the TikTok app and on websites as it would be a helpful indicator of interest for brands.
- Lastly, he also suggested that TikTok provide an option based on other indicators of activity which can determine whether the user is an avid content creator or merely a lurker on the app.
Miggy sums up his talk with a simple adage: “Go where the world is going.”
If you really want to connect with your customers, you have to go where their attention lies and be where they choose to spend their time.
In a rapidly changing world, becoming platform agnostic is a valuable trait for any brand. Fortunately, one of the hottest social media apps of today makes user engagement and content creation easy, fun, and addictive. With that, there really seems to be no good reason for your brand not to start building its presence on TikTok today!
You can watch the full webinar in the video down below. It includes bonus case studies that show how big brands are maximizing TikTok’s engaging platform. Be sure to check those out to see how YOUR brand can get started!