TikTok, the short-form video app that has taken the world by storm, is not only a source of entertainment and inspiration for millions of users, but also a powerful marketing tool for brands and retailers. According to a Digiday+ Research survey of more than 400 brand and retailer professionals, TikTok has become a key platform for driving brand awareness and sales during the holiday season, and its importance is expected to grow even more in 2024.
TikTok’s Value for Driving Revenues and Branding Increases
The survey, which took place throughout the year in 2021, 2022 and 2023, revealed that brands and retailers have been increasing their investments in TikTok as a marketing channel, especially for the holiday season. The percentage of brand and retailer pros who said TikTok is extremely valuable to driving their revenues increased from 8% in 2022 to 32% in 2023. The percentage of brand and retailer pros who said TikTok is extremely valuable for branding increased from 39% in 2022 to 48% in 2023.
TikTok’s Strength in Creating Viral and Organic Content
One of the main reasons why TikTok is so effective for marketing is its ability to create viral and organic content that resonates with the audience. The survey showed that the percentage of brand and retailer pros who said they invest a lot in creating original content for TikTok increased from 23% in 2022 to 39% in 2023. By creating engaging and authentic videos that showcase their products, brands and retailers can tap into the trends, challenges, and hashtags that are popular on the platform and reach millions of potential customers.
TikTok’s E-Commerce Features that Enable Direct Purchases
Another reason why TikTok is a must-have marketing channel for the holidays is its e-commerce features that allow users to buy products directly from the app. TikTok has launched TikTok Shop, a feature that enables users to browse and purchase products from verified sellers within the app. TikTok Shop also allows users to interact with the sellers through live-streaming and chat functions, creating a more immersive and personalized shopping experience.
TikTok’s Efforts to Attract Brands and Retailers to Advertise on the Platform
TikTok has also been actively courting brands and retailers to advertise on the platform during the holiday season. TikTok has released the Holiday Media Plan, a sales document that outlines the best practices and strategies for advertising on TikTok during the holidays. The document includes tips on how to optimize the ad creative, targeting, and budget, as well as case studies and success stories from previous campaigns.
TikTok’s Future as a Vital Platform for Brands and Retailers
The survey results show that TikTok is becoming a vital platform for brands and retailers to reach and engage their customers during the holidays, and that the platform is poised to increase its marketing clout even further in 2024. Brands and retailers who want to stay ahead of the curve and capitalize on the opportunities that TikTok offers should start planning and executing their TikTok marketing strategies as soon as possible.
