In October 2018, TikTok became the 3rd most-downloaded app worldwide with a total of 68 million downloads. Less than six months after its launch, the short-form video app began testing video ads, which were first spotted for GrubHub, a renowned food delivery app. In an effort to prove itself as an effective advertising platform to marketers, TikTok is rolling out a variety of new targeting solutions such as custom audiences, pixel tracking, and interest-based targeting. In addition to these new targeting capabilities, a beta self-serve platform is now available with full self-serve capabilities expanding to marketers as early as September 2019.
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WHAT ARE THE NEW FEATURES WITHIN TIKTOK?
In addition to custom audiences and pixel tracking, TikTok is releasing a total of 14 interest categories for now, including subjects such as “Auto,” “Lifestyle,” and “Sports.” The interest targeting is still in beta, but will eventually be expanded to include subcategories for each topic and more topics that will be released in the future. Additionally, there will be behavioral and contextual targeting rolling out in the next couple of months.
These new targeting capabilities are very similar to those offered on Snapchat, which has a user base similar to TikTok with 51% under the age of 24. TikTok’s content algorithm was updated as well and seems to mirror that of Snapchat’s, which uses user activity within the app and what type of content users spend the most time viewing to determine which interest categories they fall into. This information further proves that TikTok’s platform is expanding in order to compete in the paid media market with its more well-known competitors.
WHAT THIS MEANS FOR BRANDS INTERESTED IN ADVERTISING ON TIKTOK
Out of the 27 million monthly active users in the United States, 69% are under the age of 24, allowing brands to target younger audiences more efficiently than before. Not only is TikTok one of the most popular apps for millennials and Gen Z by a sheer number of active users, but also, these users are frequently engaging with the app as well, with the average users opening the app eight times per day for an estimated amount of 46 minutes. This younger generation is shifting their time spent on larger social media platforms, making TikTok an ideal platform to introduce this highly engaged audience to your brand and begin their journey to becoming a customer. Other advertisers are beginning to look into advertising on the new Byte platform, the new revival of Vine.
The quirky, laid back nature of this platform is a way for young people to express themselves and showcase real, amateur content. For brands looking to market to this younger age demographic, it’s recommended to branch out into this new platform sooner rather than later. Despite TikTok’s advertising capabilities still being in its infancy and needing more time to accrue sufficient data learnings to enhance targeting accuracy, your campaign has a higher chance of making an impact before the rising popularity of this ad-serving platform drives up competition in the auction.
HOW CAN YOUR BRAND ADVERTISE ON TIKTOK?
Past TikTok campaigns managed by our team here at AVX Digital have yielded above-benchmark CTRs and efficient CPMs for our clients. If your brand is looking to reach a highly-engaged, younger audience on a wildly popular emerging platform like TikTok, contact AVX Digital today. We look forward to working more on this platform as it continues to grow and work to help generate brand awareness for our clients.