Tik Tok’s growth has exploded in the last 3 years, and the platform currently has the highest level of user engagement. TikTok is expected to be the fastest-growing social media channel in 2022. Its usage is set to increase by 40 percent this year, compared to 32 percent for Instagram, and 29 percent for YouTube. This has truly pushed TikTok into the spotlight with many businesses wondering how they can utilize it.
TikTok generated an estimated $4.6 billion revenue in 2021, a 142% increase year-on-year
TikTok had 1.2 billion monthly active users in Q4 2021 and is expected to reach 1.8 billion by the end of 2022
More than 10% of global users are in North America, and that number keeps growing
Before investing time and money on any social media platform, it’s crucial for success to make sure it’s a good fit. There are a few questions to ask when doing this:
Is your target audience using the app?
Do you have enough time to make impactful organic content?
Do you have enough budget to spend on ads?
You need to be realistic when answering these questions, as there is little benefit to launching your business on a new platform without creating a strategic plan based on those questions.
Is your target audience on TikTok?
In 2022, statistics state that Gen-Z (18-24 years old) is the predominant user of Tik Tok. 24% of TikTok's global audience are women between the ages of 18 and 24 years, while male users of the same age make up approximately 18 percent of the platform's audience.
Here is a full breakdown of age groups on TikTok in 2022.
While 18-24 year olds are the primary target businesses can reach on Tik Tok, users from older generations have been steadily increasing due to a rise in popularity of the app since the beginning of 2020 as people looked to TikTok as a source of entertainment during the height of the pandemic.
Do you have enough time to make content for TikTok?
TikTok suggests posting 1-4 times a day to be able to test how different types of content are received. The platform is also driven by trends so it’s key to be paying close attention to what’s popular and matching your content to that. Filming, editing, and posting 1-4 TikTok’s a day is a significant time investment so you’ll need to make sure you have someone on your team who can be dedicated to it.
How can I market on TikTok?
As the popularity of the platform has grown over the last two years, the app has proven to have a profound impact in the modern world and as a result the marketing opportunities have grown exponentially.
The top three methods of marketing on TikTok
TikTok Influencer Marketing - TikTok influencer marketing is a big part of the app’s ecosystem. While there are influencers with millions of followers, you don’t have to use a high-profile influencer for successful marketing on TikTok — it’s unique in that there are rising stars, or influencers in your niche that can help you reach your audience due to the platform algorithm.
Creating your own organic content - Creating organic content allows for the most freedom creatively. Organic content creation also allows you to make the most of collaboration which is a great opportunity to organically tap into other audiences and increase your reach and engagement. This is a free option financially, but requires significant time and effort.
TikTok Paid Advertising - If you’re looking for a place to start and have some money to invest, this is it. The cost of TikTok ads is based on a bidding model.
Do you have enough budget for ads to have an impact?
If the time investment related to posting organic content isn’t something your business would be able to do, advertising on the platform is another option. However, TikTok requires a $500 minimum lifetime campaign budget and suggests that to see results daily budgets should be set to at least $50. You would also need to create ads that would fit with what’s popular on the app.
Influencer marketing via TikTok does require a financial investment, but as we mentioned previously, it’s easy to scale to your budget and get in front of users who are already engaged and trust the opinion of the people they are following.
At Open Door Media, we understand that the digital world can be overwhelming most of the time. For that reason, we want to help you to discover the best platforms and strategies to sell your products and services. Contact us now to enhance your digital presence.