TikTok has been with us for around eight years and in that time it’s been able to hold its own among the likes of Facebook, Instagram and Snapchat to become one of the most popular social media networks.
In this relatively short space of time, TikTok has racked up some impressive statistics when it comes to their audiences, user statistics and the creators behind the content shared on the platform. In 2023, the platform had almost 1.6 billion users globally, with around 70% of them between 18 and 35 years old. The average user also spends nearly one hour each day consuming TikTok content too. It’s no surprise that brands and businesses of all sizes want a piece of the TikTok action to take advantage of a highly engaged, young audience.
Whilst the facts and figures do look incredibly appealing, is TikTok really the best platform to invest time, money and effort for your business? Let’s explore the key benefits, as well as some negative points, to help you determine whether TikTok is right for you and your business goals.
How could TikTok support my business goals?
1. You don’t need a big budget to create content
The beauty of TikTok is that you don’t actually need to have access to huge budgets to create good content, all you really need is a smartphone, an internet connection and a decent idea that resonates with your target audience.
Of course you’ll see plenty of brands creating polished, high quality videos on their channels, however some of the best performing content on TikTok comes from low budget videos that have been uploaded on a whim, but appeals to and relates to audiences. With that in mind, TikTok is a great platform for small businesses looking to experiment with content on a tighter budget.
2. TikTok users are likely to buy from your business
According to TikTok’s own data, over a third (35%) of their active users have purchased a product or service that they have seen while browsing content on the platform. Their data also noted that 29% of users who saw a certain product in TikTok content were unable to make a purchase simply because it was sold out online.
A recent example of this is the Stanley Cup craze, which originated on TikTok. Stanley’s Quencher cup was featured in a vast number of TikTok videos from influencers across the world, which resulted in the company’s annual sales rising from $75 million to $750 million in 2023. This shows the tremendous amount of clout social media can have on promoting what is essentially a mundane product, which has now seen rapid growth, celebrity collaborations and regularly sells out online.
3. TikTok targets a younger, engaged audience
Nearly 70% of TikTok’s active users are under 40, which means it’s a prime target for any brand or business looking to target millennials and Gen Z. These users are actively engaging with content on the app too, which is great if you’re a business looking for high engagement levels. The average user spends well over an hour on TikTok every day too, meaning they’re spending plenty of time scrolling and looking for content.
4. TikTok can humanise your brand
TikTok can have the ability to help humanise a brand and make them more relatable to new and existing customers. The days of faceless, soulless companies are over and consumers often want to understand more about the brands or services they use and what they stand for. Tik Tok provides that platform for brands to do this by allowing them to create engaging content that will help to build brand awareness, create a unique voice or a personality that might not necessarily be instantly clear just by looking on their website.
5. TikTok allows you to repurpose existing social media content
You might be already utilising other social media platforms such as Instagram and Facebook and creating promotional content. The good news is that you can repurpose and share existing content directly onto your TikTok account, such as YouTube videos, Instagram reels and Facebook videos. Whilst it’s definitely worth experimenting with creating content unique for TikTok, it’s good to know you’re always able to use content from other platforms if you find yourself stuck for ideas or have gaps to fill in your social media calendar.
What are the reasons to avoid using TikTok?
1. You might be targeting the wrong audiences
TikTok attracts a young audience, with nearly 70% being under the age of 40 years old. If your business aims to attract customers that are over the age of 45 for example, the likelihood of obtaining strong engagement with this audience on TikTok will be lower compared to other social media platforms. Around 36% of Facebook users are over the age of 45, therefore this could potentially be the better option for businesses that target older demographics.
2. Your brand’s reputation might not suit TikTok
There are plenty of ways that businesses can market themselves to new and existing customers and sometimes social media is not the appropriate choice, depending on the reputation, size and industry the brand fits within. TikTok content style, while informative, is often fun, less serious and sometimes includes shock value to help boost engagement. This could potentially harm certain businesses who have a reputation for being more serious in nature, potentially opening them up to criticism or negative press.
3. There’s no clear reason why you’re on TikTok in the first place
Just because everyone else is doing it doesn’t mean you should be doing it too. Before you commit to creating content on TikTok, ensure you conduct your research beforehand, looking at factors such as:
- Setting Objectives – What are your aims and objectives for being present on TikTok and other social media platforms
- Costs Involved – Explore the costs to create content, the time and the manpower to deliver the results
- Competitor Analysis – Look at what your competitors are doing. Check out their engagement numbers, look at the comments to determine how the content is being received by audiences
