If you’re not already posting or advertising on TikTok, you’re absolutely missing out. TikTok continues to explode in popularity this year, with consumers spending more and more time on the platform. TikTok continues to expand its capabilities, bringing in new users and providing innovative new features to foster greater retention among its current base. In March 2022, TikTok expanded the pilot of its Stories feature, which began testing in 2021. TikTok also launched SoundOn, allowing artists to upload and monetize music. If you’re not already taking advantage of TikTok’s massive user base, now is the time to start!
The app’s continued innovation to both maintain and grow its user base has kept them on an upward trend for two years. TikTok’s creativity, both functionally and monetarily, has propelled it well passed its source of inspiration, the now-defunct Vine platform. The question with any app is a matter of revenue and how said revenue is generated.
Advertising is the easy answer, but often a difficult implementation. TikTok itself was always destined to be a difficult platform to advertise on, given that its foundation was cemented as super short content (one minute or less). Attention spans are low and a user’s ability to skip an ad (and quickly) is fairly easy. Those obstacles raise the cost of paid advertising and make it less attractive. However, an ever-growing, massive user base makes paid advertising 10x more attractive.
TikTok’s Q1 2022 numbers are astonishing, per data.ai. Global consumer spend surpassed $800 million. Spend has continued to grow month-over-month since 2020, but the last two quarters have seen a steep climb that correlates to the growth of active users.
On TikTok, you have exposure to over a billion users who are actively spending billions of dollars year after year. Are you taking advantage?