TikTok is the fastest growing social network. The platform has a very high level of engagement. According to one study by Influencer Marketing Hub, TikTok outperforms all other sites in terms of interaction rate. Also it's very effective at keeping people on the app, with users interacting with it for 45 minutes a day on average.
In this post, we'll look at why you should consider advertising your business on TikTok.
Why to Advertise on TikTok?
The sheer number of active users on TikTok is the platform's allure for businesses. It is still unclear how the algorithm works, but it seems that your video content is far more likely to go viral on TikTok than on other social media sites. Even if your brand isn't well-known, you can still use TikTok for marketing purposes. It all begins with creating great content and implementing the best practices.
TikTok Ad Types
TikTok's self-service platform assists brands in creating in-feed advertising. Most of the other solutions would require you to work with a TikTok ad account manager.
- Brand Takeover
These advertisements are more invasive than native advertisements. They appear as soon as a user launches their TikTok app, taking over the screen for a few seconds before transitioning into an in-feed ad. TikTok restricts the number of brand takeover spots for obvious reasons.
- In-Feed Ads
For small and medium-sized enterprises, this is the most cost-effective alternative. The ability to use the self-service platform simplifies the process, and these advertisements are usually less expensive than other o. These ads appear in the TikTok users' "feed.
- Hashtag Challenges with a Branded Twist
TikTok's hashtag competitions have become a fixture. In an opening video, someone sets up a challenge, urging their viewers to repeat a specific act, film themselves, and upload their attempt. Branded hashtag challenges are the same as those created by regular TikTok users and influencers; however, they are sponsored by brands and therefore given priority by TikTok.
- Branded Augmented Reality / Effects Content
These advertisements can be found in some of TikTok's more innovative locations, such as branded lenses, stickers, and other products, such as 3D/AR content provided by brands for TikTok filmmakers to use in their videos.
TikTok Ads' Potential Cost
TikTok ads were initially exorbitantly priced. Only large corporations considered creating advertisements for the website. That is no longer the case now that TikTok has in-feed advertising and a self-service website.
You can now set a budget and TikTok's AI will bid on advertisement spots on your behalf. The exact cost per ad is determined by a variety of factors, including the marketing goals, targeted keywords, the size of the audience you expect to reach, times of day and week, and competition for advertising in people's feeds.
The minimum budget at the campaign level (for in-feed ads) is $500, and the minimum budget at the ad community level is $50, according to the TikTok support archives. However, some other forms of advertisement are also much more costly. According to a TikTok pitch document from June 2019, brand takeovers cost $50,000 per day, hashtag challenges cost $150,000 for six days, and branded lenses cost $80,000 – $120,000, depending on the complexity of the lens design.
Interesting fact: on average, a TikToker with approximately 5 millon followers and high engagement will earn approximately $500 USD per month.
Don't Forget to Measure Your TikTok Ad Campaign
As always, setting up a TikTok advertisement package is pointless unless you monitor its progress. You can monitor the success of your ad in your TikTok ads dashboard after it has run. You can drill down using different filters to discover specific details about the success of your advertising, ad groups, and campaign.