According to a report from Google, 60 people from every 100 people access the internet with the help of their mobile devices in order to stream videos. Video streaming has doubled in the past year and this trend is expected to grow even more in the upcoming year. This trend has given rise to yet another business in this area, videos for mobile! Mobile movie making is turning into a prosperous business that is both artistic and not very time-consuming. That’s why TikTok is most famous among people of all ages especially generation-Z. TikTok’s success graph over the years seems to resemble that of the stock markets. It’s never a strong, consistent line. There are phases of strong growth, consecutively followed by lags. That said, it’s not a medium that advertisers can ignore any longer. Here are the reasons:
- It’s not just an alternative but a complement to television:
If your videos have become popular, TikTok has had a good role to play in their success story. Here’s a stat call.
- More than 500 million unique users visit TikTok each month. That’s over 7% of the world population. It has 800 million installs worldwide and most installed app on the Apple store.
- And average TikTok user spends around 52 minutes per day on TikTok and 55% users upload their video on this app.
- In the year 2018, more than 1 billion videos were viewed every day on TikTok.
A lot of marketers are possibly owed their popularity, more to TikTok than to television.
- Other social media have supported its growth instead of competing with it:
More than 30 billion pieces of content are shared on Facebook each month. And these include posts, web links, pictures, and videos. Facebook understands the power of video well and possibly that’s what it tried to bank on with its look back videos too. Instant messaging services like WhatsApp have helped promote TikTok videos too. TikTok, therefore, faces competition, from very limited quarters.
- TikTok is a great platform to target young audience:
For an advertiser, TikTok has come of age. The stats that it provides are not just limited to the number of views and clicks but rather engagement. Today you can even get data on what percentage of your viewers watched 100% of your videos. Based on the engagement numbers, you can take a marketing call on what’s popular and what’s not. The insights can even guide your next production. Not surprisingly, TikTok’s revenues of the in-app purchase were 3.5 million dollars in 2018 and it is estimated to grow more than the previous year. TikTok also contributes to boosting brand awareness. That’s why most of the brands and marketers buy TikTok hearts for increasing their brand exposure. However, it’s a medium that will survive and grow. As a marketer, it definitely is something to keep a close eye on. If you have any question, leave a comment below!