TikTok deals with the inevitable big demands that come with big budgets.
ByteDance owned TikTok will be the center of attraction in 2020 as various marketers and publishers envelop its billion-plus users. While most of its are from Gen Z, TikTok gained inevitable investors. While the increasing demand is a good thing, the downside to that is how the budget tends to increase and hike up as well.
Demand will be could be overwhelming for TikTok this 2020 and so will TikToks’s budget. The video-sharing app will have to be extra careful in picking its marketing partners.
The rapid rise of TikTok
TikTok has risen in popularity over the last year and has explored the ad-supported industry. It ran its first official ad campaign just a year ago and since then, ads came flocking to the platform over the last six months. This happened while TikTok is testing features designed to make things easier for advertisers.
Sensor Tower also reported in November that the video-sharing social networking service surpassed more than 1.5 billion app downloads on the App Store and Google Play. TikTok hit 655.8 million unique installs making it the fourth most downloaded non-gaming app in the world last year.
TikTok in 2020
TikTok is expected to launch a self-serve ad model (that is currently in beta testing) this year. This will make it much easier for marketers to buy ads without going through the app’s sales team, similar to what is currently going on.
The director of social for OMG, Carly Carson said that the self-serve platform of TikTok is a good start. But it is better with more advanced targeting opportunities such as to target outside audiences of age and demographic. Built-in and integrated customer relationship management (CRM) is also expected by Carson this year.
TikTok also needs to rush ads API (application programming interface) if it wants to attract SMB advertisers. The API, along with adding third-party partners will please advertisers as it helps in measurement and brand safety. Carson further added that “having additional brand safety levers in reporting and measurement on TikTok’s side for monitoring will also be very important”.
Another expected addition to the platform is “meeting the needs of advertisers without diluting its creative appeal to users.” TikTok’s content is great and authentic to the platform that it attracts billion of users. Adding too much ad inventory may cause its original content to be washed out. The social media sensation continues to strive and rise to set the platform apart from its social network rivals amidst the higher expectations this year 2020.