#TikTokMadeMeBuyIt
The evolution of TikTok has been remarkable. Once seen as an app for entertainment during lockdown (cue awkward videos of your Dad and Mom dancing), then turned educational (learn how to get your tase & smell back post Covid), is now a marketers' dream. And yet, many brands (the one I work for included) are still struggling to figure out how to properly invest in and manage this new channel. Millennials are not watching as much TV, and so they don't see a lot of retailer's TV or video ads, but TikTok sees over one billion monthly users and has a very captive and engaged audience. It's also a platform where scrolling through strangers' content happens more frequently than on Instagram - due largely due its catchy infinite scroll. In a reaction to this platform, Instagram created Reels and then encouraged its followers to promote videos in order to compete with the growing app, using its algorithm and market share to ensure that brands had to follow suit on their app in order to see success. Yet, TikTok still shines - it feels more organic and real than instagram, it's a place of self expression and creativity and likely why large retailers are investing heavily in TikTok campaigns. I'll be curious to see what happens in the coming months as Instagram continues to use its market power to incentivize creators to use Reels (they now pay a bonus when reaching a certain amount of video views) and whether or not TikTok can keep up the momentum.
Source: https://www.nytimes.com/2021/12/21/business/tiktok-ads.html
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