Today, social media is considered part of the creeping digital marketing world, which never fails to surprise us. There are many trends on social media that are driving rapidly to record the track of everything that has been revolving around. When you think that one platform has been dominating the other, yet, another platform has been popping out to fit into the landscape.
Hence, the upcoming monsters like Instagram, Twitter, Snapchat, and Facebook were racing in the advertising industry, where suddenly, the new player pitched the world and turned the game completely.
Yeah! You have made the right guess now. In this article, we are going to discuss the famous social media platform known as TikTok. It accepts the users to post the precise lip-syncing of the comedy videos, music soundtracks, or dub smashes. TikTok made social media to reach the world by storm. The TikTok development story is a captivating snapshot of the present day’s ever-growing thirst for the user-generated content that grabs and catches most of the youngsters.
TikTok prepared competitive brand communication schemes that led to the world’s changes into a short video global community.
Let us get into the success story of TikTok’s
The Chinese owned social media video app is popularly known as Musical.ly; thus, the app has evidently changed from nothing to become one of the most downloaded apps around the world. Luyu Yang and Alex Zhu founded TikTok in 2014. From September 2016, ByteDance started social media video applications, Douyin from China. Also, they expanded the application internationally, naming as TikTok.
Meanwhile, TikTok was the most-used video sharing application in the East, whereas Musical.ly, one of the Chinese based applications, had an influencer in the West. It was based on the internet live video stage that originated in August 2014 that allowed the users to create short lip-sync and sarcastic recordings. American youth especially preferred it.
ByteDance almost spent one billion dollars to obtain Musical.ly in November 2017 and combined up with TikTok in August 2018 to make a massive video group. Thus the app started to enhance its foundation, and it was downloaded by more than 104 million times on Apple’s App store during the first six months of 2018. The TikTok app is available for Android in the 750 marketers as well as Apple platforms in the 154 markets respective. The lip-sync quality of TikTok has been inherited from Musical.ly, which is even the best-used feature.
TikTok’s Business model
TikTok is one of the creative social media platforms that help to drive short-form video content. The TikTok apps attempt to make a challenge of different types to click into the creativity of the users and produce engaging video content. TikTok is a platform that depends on the attention pattern; it basically makes money based on advertising.
TikTok challenges are achieved by attractive music soundtracks through the effective filters and powered by Artificial Intelligence algorithms that have the potential to maximize the content and suggestion. TikTok is one of the creative social media platforms that have the capability to click on the creativity of the users using a group of challenges with the various types to produce the user-generated video content. TikTok has some of the main features:
- A traditional social media platform that handled on the eagerness of the user to share their content.
- A collaborative platform with the most attractive music soundtracks to play the challenges set on the TikTok app.
- A group of attractive effects and filters that can be applied to the videos.
TikTok makes the difference from the other social media networking applications is the famous hashtags trends that support the memes, trending challenges, or different repeating formats.
TikTok is meant to develop creativity, funny moments, and relax and calm down your stress. TikTok influencers are mostly playing an important role in assisting in promoting the campaign. Also, TikTok caters to the brands and product influencers to make a perfect collaboration. Also, TikTok caters to the brands and product influencers to make a perfect collaboration. Thus, Influencer marketing generates the TikTok fan following by driving engagement, yet the brands require a lot of critical strategy for selecting the influencers who are more authentic and merged with the brands. According to bouxtie, partnering with influencers on TikTok is a great idea to get more TikTok fans for your TikTok profile because their followers are highly likely to start following yours also.
Revenue Model for TikTok
TikTok provides the coins’ in-app shopping, starting from 100 for $0.99 and then grading up to 10,000 for $99.99. Thus users can also provide the coins to their choice of creators, which in turn can make an interchange them with the digital gifts. TikTok produces its revenues through ads that help in linking customers with their brands. Some of the strategies that TikTok obtained through advertising:
- Advertising revenues are produced through targeted ads.
- Permitting the content creators to monetize their video for a user-friendly platform with long-term success.
- The subscription-based for real and enhanced content from the platform that gathers the best short video content.
How are brands falling for the TikTok marketing?
As the audience are requesting for creativity and authenticity. TikTok is a worthy platform for performers, artists, and those who want to bring out creativity for their brand promotion. By changing the world into the short form of videos for the global community, the platform has also changed the capability of promoting by making people connect with your brands and making the creators to run with on their methods. TikTok advertised their brand’s communication through different strategies with the most efficient methods.
Some of the brands are utilizing TikTok to get linked with the people.
Advertising
The platform initiated a self-service ad providing in the beta version last year, gathering the enthusiasm from the tested brands first. The platform is still under beta testing and misses some of the robust focusing options and computerized features that activate the advertisers to buy and estimate the ad results automatically. Once after the testing is completed, the advertisers can make the TikTok campaigns depending on the campaign’s thumb rule and choose out their targeting rules based on their gender, location, age, and interests. There is also a chance to define the ad placement. Some of the TikTok formats are:
- Hashtag challenge
- Branded Filters
- Brand Takeover
- In-feed native video ads
- Top-View ads
- Influencer brand partnership