The world has changed in ways we could have never imagined, driving a historic and drastic transformation in customer behavior giving social media an unprecedented level of influence and power. Part of this transformation includes the explosion of touch points across platforms and ad formats, making the consumer journey harder to predict and shifting away from the traditional separation of the top and bottom of the funnel.
Last year, we spoke about the importance of investing in a multi-platform social strategy to ensure your brand can efficiently and effectively reach consumers across their end-to-end journey. With the heightened competition and changes in consumer behavior, executing this multi-platform social strategy has become even more critical. And as 92% of consumers say they follow a brand or make a purchase after watching a TikTok, it's clear TikTok has become a powerful player in how to engage with customers.
1. You need to meet your customers where they are
It's no surprise that with a whopping 4.4 billion monthly users reached globally, social media has become an important communication channel for both consumers and brands alike. But where does TikTok fit into that overall number? With more than 1.5 billion monthly active users, it's safe to say that TikTok has become one of the most popular social platforms.
According to TikTok's 2021 Time Well Spent Report, TikTok is taking time away from other entertainment activities (translation: other advertising channels), such as watching TV, listening to podcasts, and streaming videos. In fact, 35% of TikTok users say they have spent less time watching TV or video content since they started using TikTok, and 46% give TikTok their undivided attention.
2. You can test and learn while the platform is cost-effective
Getting started with a new platform follows the common rule of first-mover advantage, as younger platforms usually come with cheaper audience inventory. Bottom line: you want to take your brand where the people are, and it's even more effective if you get there first.
Practicing your approach to getting started on a new platform tends to pay off. As new platforms surface, your team already has the experience of moving and adjusting to a new advertising environment, making the "getting started" easier. As a result, brands should use this time to their advantage and begin testing ad operations and creatives on TikTok while the platform remains cost-effective.
3. You can reach consumers across their end-to-end journey
With recent and ongoing privacy changes in the industry, we’re seeing advertisers struggle with predicting the consumer journey. Identifying where a customer sits in the “funnel” is not as easy as it was before. To mitigate this risk, advertisers are diversifying their spend to additional social platforms. TikTok has become an efficient platform for this, as TikTok users are a primed audience no matter where they are in their end-to-end journey.
Looking to build brand awareness and drive product discovery? TikTok users turn to TikTok to find inspiration and education across topics such as cooking, fashion trends, or home projects: 59% of TikTok users learn current trends, and 60% learn new recipes or DIY projects.
Looking to drive conversions? TikTok users become so engaged with the videos they watch and the creators they follow, they quickly become ready to take action. 84% of TikTok users plan to shop online through retailers/brand websites and 49% have made a purchase directly from the platform.
4. You can engage incremental audiences and grow your Gen-Z reach
Incorporating TikTok into your multi-platform strategy doesn't only allow you to reach customers across their end-to-end journey; it also allows you to reach incremental audiences you may not find elsewhere. According to TikTok, their unique community sees up to 64% of unduplicated users compared to other large social platforms.
But let's not forget about Generation Z—the generation single-handedly transforming how consumers (and therefore brands) engage on social media. With an estimated collective buying power of close to $150 billion, this is an audience brands cannot ignore. And as 25% of Gen Z TikTok users have purchased a product they saw advertised on TikTok, TikTok has become a non-negotiable platform for brands looking for ways to reach this audience.
5. You can tap into the Creator trend of authenticity and influence
For brands to connect with consumers on TikTok, they must create content that feels native to the platform. It’s impossible to scroll through TikTok without noticing the creative aesthetic: it’s all about the Creators. This is great news for brands, as Creator content attracts more views, more engagement, and therefore, drives influence over sales. We’re seeing the importance of Creators for driving sales (and therefore more ad spend for TikTok) continue to grow. TikTok itself has invested more than $1 billion in the TikTok Creator Fund dedicated to helping creators earn money for their content.
Additionally, as ad fatigue happens faster on TikTok than on other social platforms, riding the Creator wave also helps solve the familiar challenge of not having enough time or resources to keep up with the constant content demand. Instead, advertisers can turn to Creators to produce content they know will perform and do so quicker than in-house.
Watch this space for our upcoming post in this series: Creative Best practices on TikTok.
Interested in starting or taking your TikTok strategy to the next level? Contact us, we’re here for you!