Friday Finding: What’s a TikTok?
Gen Z put down their Tide PODS and found new entertainment in a social media platform called TikTok, which currently has one billion downloads. The app caters to their eight-second attention spans and love of videos. Some just love the content, others want to become famous TikTokers. Yes, that’s a thing.
How to TikTok
- TikTok has 700 million active users who spend 52 minutes a day scrolling through feeds of lip-syncing, challenges, copy-cat videos, and even company profiles. (Video Ad News 2019, Medium 2019).
- Most people spend time on the app’s “For You” feed – an endless scroll of the most popular videos from friends, strangers, and companies.
- Most users are lurkers (meaning they view without posting), but anyone can upload their videos.
Is TikTok the Next Facebook?
- Big brands like The Washington Post, NFL teams, Chipotle, and Guess are using the app to engage with younger audiences through ads and organic content.
- One successful campaign was Guess’s #InMyDenim, which garnered 38.8 million views (HubSpot 2020).
- Not every company sees the same results. TikTok’s advertising platform needs some work if it plans to compete with Facebook.
- If you’re trying to target Gen Z, TikTok’s the place to be – 60% of its users are 16-24 (Media Kix 2019).
- TikTok made $3.5 million from in-app purchases in 2018 (Sensor Tower).
- TikTok ads start at $10 per CPM (cost per 1000 views) and requires a minimum ad spend of $500 per campaign (Influencer Marketing Hub 2020).
- According to TikTok, the average user session is nearly five minutes – longer than Snapchat or Instagram (Digiday).