We hope you won’t take offence, but you’re probably wrong about TikTok.
Don’t worry, you’re not alone.
We’ve been writing and sharing about TikTok a lot over the past few weeks. But we’ve also had the pretty awesome privilege of being among the first companies in Spain to be let into the cockpit of the game-changing app. Results are coming back from our first tests of TikTok Ads, the Chinese giant’s creation platform. With them, we have seen the many misconceptions people in our sector seem to have about TikTok disappear faster than you can scroll up.
Whether it’s your pre-covid preconceptions about the typical user (“it’s for kids right?”), to what you heard about exorbitant minimum investments, MonkeyFlux just wanted to set things straight.
So, let’s play a game: True or False?
TikTok is for teens/ Gen Zers
You guessed it – FALSE
We already wrote an article on this subject that you can check out here. And the data continues to drive home that the app has become a magnet for Millennials, Xers (my people) and even BOOMERS.
People of all ages are creating content and in terms of who’s consuming, confinement boredom has definitely pushed a whole new audience to the app.
We recommend this article from Influencer Marketing Hub anyway, as TikTok stats always make for gobsmacking reading. But, for the point in question:
TikTok’s Users Are Aging with the App
There is no doubt that TikTok is extremely popular with teenagers across the world. However, there is now some evidence that its user base is aging… …In countries such as China, Indonesia, Malaysia, Saudi Arabia, and the UAE, membership among 25-34 year-olds is higher than among 16-24s.
Or how about this one?:
25.8% of US Users Aged 18-24
…24.5% are aged 25-34, suggesting that many TikTok users have stayed with the app, despite reaching their 25th birthday.
So if your brand’s been staying away, thinking your customers aren’t here, you might want to look again.
TikTok is just like Insta, Snapchat…
FALSE. Sure they share some similarities, but we all know appearances can be deceptive. The main difference that should matter to you and your brand?
We liked the explanation in this article, which notes that “the value of a platform with a massive young millennial and Gen Z audience is obvious” but points out what you might already be thinking; “…but Snapchat has that too.” So what is it about TikTok?
“Likes and comments on TikTok are reminiscent of other social platforms, but the new engagement opportunities TikTok has unleashed are where the story really is…
…on TikTok, users aren’t just passively liking posts, they’re creating pop culture.”
Or if you prefer to talk figures, in the same Influencer Marketing Hub article we quoted above, they have the following stats:
52.1% Engagement Rate
While there are multiple ways to calculate engagement rate, Cloutmeter indicates that TikTok users average a healthy 52.1% engagement.
So not only are millions more of your customers on the app, they’re more engaged than they’ve ever been. Have we got your attention? Great! Then let’s keep playing…
TikTok is expensive
Depends on who you talk to, we suppose, but here at MonkeyFlux, all signs are pointing to FALSE.
At MonkeyFlux, we get our clients really massive savings on their ad spend across the biggest digital ecosystems. We put our MonkeyBots to work 24/7, 365 days a year. They make key adjustments all day and the algorithm-based action doesn’t stop at night, with 20% of bid adjustments happening while our clients dream happy dreams about growing ROI.
YouTube is one of the ecosystems in which our tech can bag the biggest savings. We typically get our partners prices anywhere between 40% and 90% (!) better than what they had prior to talking to us.
Sure, TikTok is still a comparatively fresh platform, but our first campaign tests are showing really rather mind-blowing prices in terms of CPMs, CPVs (or CPMVs as TikTok charges per mille views) and a host of other tasty KPIs. We have to be conscious of managing expectations here, but significantly lower than the already impressive YouTube pricetags.
So why does everyone we talk to in the sector think that TikTok is way out of their budget?
Well, not everyone has access to TikTok Ads, the platform’s own ad manager. And nobody else can count on our army of MonkeyBots! We can hook our algorithm directly up to the bidding process.
We are always confident in the power of our homegrown tech, but even we’ve been blown away by the incredible bang-for-buck we’re seeing with TikTok. We can’t wait to start transferring these savings to marketers, who seem to have been told that all that’s available to them are set packs. Which brings us to our next one…
TikTok is only available through packs
You guessed it – this one’s FALSE too.
We’re hearing time and again how brands think the only way to break into this platform is via set packs offered by certain agencies.
We won’t deny that these packs provide an excellent service, but they are by no means for everyone.
Well, firstly because they’re really expensive. To give you an example, in the UK they start with a minimum spend of a cool $25,000! Fine if you’re a big player. Not so much if you’re on a tight budget and have to account for every cent.
Others we’ve spoken to have heard that they won’t be able to control segmentation and a series of other complaints related to the non-transparent and inflexible nature of the packs. TikTok Ads has no such restrictions once, as in our case, you’re let at the controls. The sky’s the limit, but the price is excitingly low.
TikTok is taking its sweet time to monetise new territories
You thought they were all going to be false, didn’t you?
Well, unfortunately, this one’s TRUE. After sweeping across most of Asia, TikTok seems to be taking things very much at its own pace in terms of which territories it wants to open up to advertisers in the rest of the world.
USA is obviously in there and we’re delighted our native Spain is on the list too. But, for example, our neighbours in Portugal are conspicuously absent, as is all of LATAM, home to many of our beloved partners. Come on TikTok, what are you waiting for?
At least the brands we work with can rest assured that when their territories do come online, they’ll be first in line to be able to harness the awesome power of this app. By the time they do, our MonkeyBots will have refined processes too, so they can expect even wilder optimisations. Win-win, right?
Get in the game
If any of the above comes as a pleasant surprise to you, it might be time for you and your brand to rethink TikTok. Why not swing by and get in touch? Trust us, we’re just as excited as you are about what we’re seeing. The app is changing the world and we want to be a part of that.