Businesses: It’s TikTok Time
Are you a business owner that’s dismissed the need to join the astronomically popular platform TikTok? If you’ve negated the need to check out the social media giant, likening it to somewhere to simply participate in dance and food challenges, you may want to give it another thought. Here’s why…
- Some of the world’s leading brands are on board. Think Chipotle, The Washington Post, Guess, NBA, Gucci, ASOS, Starbucks and Netflix, just to name a few.
- A billion-plus. You read that right. TikTok is used by more than 1 billion people around the world. And it’s been downloaded more than 3 billion times. Originating in 2016, its growth has accelerated far more quickly than that of Instagram or Facebook. TikTok is among the fastest-growing brands in the world. Don’t you want a piece of that marketing pie?
- Teen and young adult audience. Seventy percent of TikTok users are teenagers. That’s a lot of disposable income. The second-largest group of users comes from the 20-29-year-old age group, followed by those age 30-39 years. This is extremely important for businesses as it allows them to target to consumers early on in their buying years and to possibly develop a lifelong relationship. Ages 18-34 are regarded as those most likely to try new products, making TikTok a desirable place for start-ups, too.
- The best engagement rate. While Instagram’s engagement rate ranks at just under 4 percent and YouTube at between 1-2 percent, TikTok far surpasses its competitors at an engagement rate of near 18 percent.
- Still on the rise. TikTok is still gaining popularity around the world. People are spending more and more time on the platform. The average in 2020 was 62 minutes. Today, it is said that the average user is on TikTok 89 minutes per day, opening the app 19 times in a 24-hour period.
- Median household income. Believe it or not, by March of 2020 it was found that just over 40 percent of TikTok users had a median household income of $100,000 or higher. While the platform ranks as the seventh most popular in the world, it has achieved that status in record time, and shows no signs of slowing down.
What are you waiting for? If you need help navigating how you can put TikTok to work for you, we can do that.
Let’s set up an appointment for a consultation. Connect with us at 610.223.7102 or online at socialclovermarketing.com.
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