As ICT Tac launches sound second TikTok World’s annual business summit, the social media juggernaut is making headlines for more than just new updates to the platform.
Earlier in the week, Axios reported that TikTok was beginning the process of creating its own US-Based Fulfillment Centers with the aim of directly challenging e-commerce giants like Amazon and Shopify. The reports were based on more than one dozen new jobs posted in the past of them weeks on LinkedIn. “By providing warehousing, delivery and customer service returns, our mission is to help sellers improve their operational capacity and efficiency, provide buyers with a satisfying shopping experience and ensure rapid growth and sustainable from TikTok Shop,” it read. Jobs.
And that’s not all : The Wall Street Journal reports that TikTok’s parent company, ByteDance, is in talks with music labels to expand its music streaming service globally with an offer that would eventually be integrated into the TikTok app.
But TikTok wasn’t focused on anything this Thursday as it welcomed brands in person to TikTok World. Notably, and unlike last year, the event isn’t being streamed — instead, the company is choosing to focus on connecting with its IRL business partners at an intimate New York gathering. But TikTok has share some of the major platform updates that will be announced with the rest of the world, including new features to enable creative partnerships and community involvement.
“TikTok is building for the future of entertainment with responsible innovation at the heart of it all – where discovery, community and culture create unique opportunities for creators and brands to drive meaningful impact,” reads a blog post. of the company on the event. “TikTok is a place where businesses of all sizes can connect with audiences, grow their following, and generate revenue. We’re excited to see how brands continue to connect and create more cultural moments with the TikTok community by using our diverse set of advertising tools.
Touting its dominance in the advertising space, TikTok has shared the results of a series of internal studies showing that the platform connects brands and consumers. According to TikTok’s research (which was conducted by third parties), 73% of TikTok viewers say they feel a deeper connection to the brands they interact with on TikTok, and brands are remembered 40% more on TikTok than on other platforms. The company’s “sales boost” partner, NCSolutions (NCS), also reported that TikTok campaigns deliver an average return on ad spend (ROAS) of nearly 2X higher than the performance criteria of NCS campaigns.
Unsurprisingly, TikTok plans to double down on its leadership position in social media with a slew of new product offerings, including upgrades to its Creator Marketplace, new features to capture the communities that gather on the platform, and more. form and more effective video marketing offers.
Facilitate connections between brands and creators
The TikTok Creator Marketplace (TTCM) – the official platform for branded content collaborations on TikTok – already offers more than 800 000 creators around the world. With a series of new updates, TikTok aims to help brands find creators more efficiently, activate creators at scale, and measure and optimize their campaign performance through:
- Improved search capabilities it will also integrate a brand’s campaign information to provide better creator match results with accurate and granular keyword research;
- TTCM game, a new recommendation feature able to automatically generate designer lists from a brand’s brief in less than 10 seconds;
- Open Application Campaigns, which will allow brands to publish details of an upcoming campaign on the TTCM platform for creators to proactively apply. (Currently available by invitation only in the US, UK, Canada and Australia.);
- Invite links, which allow any brand or agency to work with any creator, even those who are not registered with the TTCM. Advertisers will have access to TTCM features such as real-time campaign reports and performance tools without going through all the collaboration steps;
- A “game anchor” that will allow creators to work with mobile game companies to add iOS or Android app store links to download the game to their content;
- A “comment anchor” that will allow creators to add and pin a clickable link at the top of comments for viewers to learn more about the product or service in the video; and
- Improved post-campaign reportingincluding new branded content metrics such as audience overlap, audience interest breakdown, and Spark Ads campaign dates.
Take a bite out of Facebook’s community pie
When it comes to creating and connecting with communities of peers, Facebook is currently the place to be, but according to TikTok, communities are its “new demographic”. The platform pointed to its various hashtags such as #TikTokMadeMeBuyIt (currently at more 25 billion views) and the top 100 gaming-related hashtags, which receive more than 40 billion video views per month.
By serving the various communities that connect to its platform, TikTok has underlined its Previously Unveiled Shopping Ads feature and introduces a new native solution for movie studios.
Shopping ads are currently the primary way TikTok is enabling commerce on its platform, with the aim of helping to convert demand into sales. Shopping ads are currently available in three formats: video, catalog listings and Direct.
The new Showtimes feature hopes to convert the 52% of people discovering new shows, movies, and actors on TikTok with a native experience to help movie studios connect with those fans. Movie studios can promote their latest movie by showcasing a full trailer to generate interest, then seamlessly provide showtimes and theater information based on user location. Users then click on the ticketing partner to complete their purchase. Showtimes are currently only available to guest movie studios in the United States
Bringing TikTok to the ‘outside world’
A new offering called Profile Kit that will allow users to integrate their TikTok accounts to display their content on third-party apps. The first partner of the offer will be the link in the bio tool Link tree.
Brands only pay for ads viewed
New Focused View ad metric allows brands to only pay when users have voluntarily watched an ad for at least six seconds, or when they interacted with the ad within the first six seconds (whichever comes first). Focused View is the next generation of the current Video View campaign focus on TikTok Ads Manager and aims to ensure ads are shown to users who truly pay attention and voluntarily engage with the brand.
Samsung was among the first global advertising partners to leverage the six-second focused view lens in testing and saw a 11% increase in advertising recall, a 53% increased average watch time per view and 2.8X increase in completion rate.
“Brands have become a central element of [the TikTok] entertainment experience by embracing storytelling, community, and creativity,” the company blog post said. “We’re here to create advertising solutions that allow brands to get noticed in a fun and community-based way, make advertising campaigns more profitable and effective, and meet customers wherever they are throughout their journey. purchase.”