The social network TikTok has been one of the big surprises of the last years in digital marketing. Although it remains unknown to most people over 30, its numbers are impressive: 1.5 billion application downloads and 500 million active users every month.
In addition, TikTok has managed to connect with a centennial audience, which makes it a very interesting asset for brands targeting younger people. Earlier this year, the network launched a series of advertising formats to help advertisers reach their audience – don’t miss this guide to advertising on TikTok!
But first… is the advertising in TikTok for you?
TikTok is a great opportunity for advertisers looking to advertise. Its numbers of active users already surpass Twitter and Snapchat, but it is also less saturated with ads than other networks, as it is a new and relatively unknown advertising option.
In early 2019, TikTok launched for the first time a beta version of its advertising platform. Since then, major brands such as Nike and Apple Music have used TikTok advertising to promote their products with unique and very attractive ads.
Advertising on TikTok offers some very interesting creative and targeting options, and when used effectively, helps you access one of the most lucrative user groups. But as always in digital marketing, just because one option has a lot of potential doesn’t make it suitable for all companies. So before launching this new platform, I recommend you ask yourself two key questions.
What kind of people are you targeting?
If your brand targets mainly young people, TikTok ads can be a good investment for you. Keep in mind that 66% of TikTok users are under 30 years old, and 41% are between 16 and 24 years old.
Of course, we also have to be aware that many social networks become popular first with younger users and then expand to other audiences. So even if TikTok advertising is not suitable for you right now, it’s a good idea to learn about it to be prepared.
Do you have the budget for TikTok advertising?
TikTok is a good advertising solution for big brands like Nike, Disney or Grubhub, but it may not be profitable for small businesses.
Since TikTok advertising is new and there are still very few ads, the costs are high. The average CPM is $10 and larger campaigns can cost up to $300,000.
In addition, TikTok campaigns do not require a minimum overall investment, but it does suggest you to put $50 per day; it recommends to start with a large enough investment to show results and see better metrics. If you are looking for solutions with low costs and predictable results, TikTok is probably not your best option.
TikTok in figures
According to venture capital firm Klieners Perkins, TikTok users spend an average of 52 minutes on the application each day.
On the other hand, a report from Prioridata and Statista confirms the current market dominance of TikTok in number of downloads and surpassing applications like Instagram.
What formats does advertising on TikTok offer?
If you think TikTok advertising might be a good idea for your brand, let’s start by looking at the ad formats available on the web right now.
Biddable Ads on TikTok allow you to bid on advertising spaces within this social network. At the moment, bids are made manually, which means that this is not a programmatic advertising solution.
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