When was the last time you discovered a new product or you bought something by watching a video or a post about it on social media?
More often than not, in today’s world, we are able to discover and learn about new products and services through influencer endorsements on social media platforms.
One such digital platform that deserves a special mention is Tiktok.
Social media never ceases to amaze. Just when you believe one platform has monopolized the space, another appears seemingly out of nowhere, shifting the landscape.
While social media giants like Facebook, Instagram, and Twitter stay relevant in an ever-evolving digital world, a new competitor, TikTok, has entered the fray to a warm reception, particularly among young people.
TikTok is a social media app that allows users to post short lip-synced music, talent, or comedy videos. It has swept the social media world. The growth of TikTok is a fascinating example of today’s ever-increasing appetite for video content, youth usage, and even East meets West.
Alison Battisby, Social Media Consultant at Avocado Social sees TikTok as a platform marketers need to take seriously in 2022. “TikTok’s growth over the last year has just been phenomenal. Facebook is certainly worried because so many of TikTok’s features are beginning to filter into Facebook products.”
TikTok boasts a large user base (U.S. users spend up to 850 hours per month on the platform) and allows people and businesses to have their videos become viral, which is no small feat in the social media world.
TikTok was the most profitable non-game app in 2021, with users spending over $110 million. This merely demonstrates the app’s revenue potential for marketers wanting to target young consumers.
Influencers have also aided TikTok’s growth, with many earning large sums of money through sponsorship deals. Brands, according to Battisby, are now paying attention to influencer marketing on the network.
“TikTok was sort of met with an eye roll for a while, and isn’t it only for the kids?” Now, we see a lot of influencers like Gordon Ramsay and older celebrities, such as Rod Stewart, who is quite successful on TikTok. Brands are starting to realize that TikTok can reach many more people than Instagram or Facebook.”
Dunkin’ was one of the first brands to take advantage of this digital trend and partnered with TikTok megastar Charli D’Amelio to use influencer marketing on the platform. They collaborated on several videos and unveiled new menu items at Dunkin’.
Dunkin experienced a 57% boost in app downloads and a 20% spike in sales for all cold brew coffees after sharing content about the partnership.
Because it uses word-of-mouth marketing and social evidence, influencer marketing is effective. But, if you think it’ll only work if you team up with a famous TikToker, think again.
Relevance takes precedence over reach when it comes to influencer marketing. Rather than working with an influencer based only on vanity metrics (like follower count), look for micro-influencers who have a specific audience similar to yours. Influencers with less than 1,000 followers gain higher engagement, according to research.
Using social media to discover a product or service has never been easier. Brands flocked to Instagram, YouTube, and TikTok during the pandemic to offer clients online shops to replace their brick-and-mortar equivalents.
According to an Accenture report, worldwide social shopping (or social commerce) is anticipated to reach $1.2 trillion by 2025, growing three times faster than traditional e-commerce.
The social buying experience will evolve in 2022 as platforms work behind the scenes to enable user payments without leaving social media apps, resulting in a more seamless customer experience. By 2025, Gen Z and Millennials are expected to be the greatest spenders, accounting for 62% of worldwide social e-commerce revenue.
“TikTok has partnered with Shopify, Instagram is making huge developments with their shopping area within the app, so I think social shopping is just set to become absolutely huge this year,” says Battisby.
In order to increase interaction, brands must devote effort to showcasing their store windows on social media platforms like TikTok and Instagram. Companies must now have many photos per product and include keyword-rich descriptions in addition to relying on one amazing image. Video is particularly critical because the format’s popularity is exploding across all audiences, as evidenced by TikTok’s development and Instagram’s recent change.
