Gen Z’s haven- Tik-tok goes the clock
Will the new rave tik-tok keep on ticking?
The coronavirus that came from China has marked this Difficult time in our life as a human race with doom and gloom. But as China has sent us the virus so our government can make us stay home.
Coming from China too and blowing up a lot is an app that makes our stay-at-home order a little more interesting.
I present you with TikTok, a more popular vine and a more usable thriller, if you haven’t heard of it. TikTok is a Chinese social networking video-sharing service operated by ByteDance. Launched in 2016 for the china market, and then in 2017 for the outside world.
Famous in Asia, the U.S., and other parts of the world since. TikTok has over 1 billion downloads that enter the ranks of social networking giants including Facebook, Instagram, Snapchat, WhatsApp globally in February 2019.
It was also the most-downloaded app on the 2018 and 2019 App Store.
Most TikTok videos are up to 15 seconds long, and you can also create and share videos from 60-second Stories.
TikTok videos ask,” how innovative can you be in under 60 seconds?”
TikTok is viral and a source of endless entertainment which in this situation provides relief to many people.Now that we know about Tik-Tok, the other question lingers…….. who are the audience on tik-tok and how can it be monetized?.
Age-range of TikTok
According to omnicore, the total number of active monthly users is 800 Million, while the number of video views per day is 1 billion. Fifty per cent of global viewers are under 34, with 41 per cent between the ages of 16 and 24.
That shows that TikTok can be a heavenly blend of Gen Z and millennials. The use of technology has improved that even if you are under the age of 30, you can launch a trillion-dollar company and be swimming in money overnight(P.S. you have to know what you are doing).
This app can serve as the go-to social network for this world’s future powers and shapers.
Marketing on TikTok
There are 3 major ways that brands can market on TikTok.
1. Working with TikTok influencers such as Loren Gray who boosts over 40M Followers, Charli D’Amelio who boosts more than 50M followers.
2. Creating their own profile and creating content on the platform like giants such as NBA, Nickelodeon.
3. Feed native content- Displaying your video in full screen(Video content creation was one of the skills on the rise)
Compared to Photos and plain text, the video is doing very well, as we can see in Facebook Ads. Now the question is whether TikTok will dominate the advertising market just as Facebook and Instagram have. Time will tell.
Is TikTok where the money is?
In 2019, TikTok generated more than $170 million in revenue and as its parent company Bytedance is a privately owned firm, not much of its profits are reported to the public, but, as in 2018, Bytedance was valued at $78 billion so there seems to be spending power for TikTok.
Would Tik-Tok eventually become number one social media platform?
It is too early to say that tik-tok will overthrow the 3 major social media platforms but it is making a huge move capturing the Gen Z audience which would be exceptional and highly targeted especially for brands and businesses.
Personally, I am not a big fan of the app however I believe that any forward-thinking brand should have started or is making plan to plant its presence in the TikTok space.
As the clock continues to tick, it seems that tik-tok will continue to grow stronger and stronger every quarter.
An Interesting question could be “Would Facebook buy tik-tok in the future?”
PS. I really hope you enjoyed the pun of TikTok and the clock ticking. It really was a good one
