Are TikTok ads worth it?
In case you missed it, there’s been a slight bit of controversy surrounding TikTok in the last week with Trump stating he would potentially ban the app in America unless it was bought by an American business. But even with the current uncertainty, are TikTok ads worth investing in?
There’s no denying that TikTok has become a social media superpower. The app, designed exclusively for mobile, allows users to watch and create easily edited videos of up to 15 seconds with additional features such as music, filters and other effects. And it’s not just a few users, it has over 800 million active monthly. These users are predominantly Gen Zers, with 48% of the users being aged between 16 -24. But, with COVID-19 forcing all of us into our own homes, it is also seeing a fast growth in users aged between 25-44 years with a higher disposable income – ones that would usually draw the budgets of Facebook ads.
Let’s go through a quick overview of the different types of ad you can run on TikTok:
Whilst there are lots of options available, they do come with a hefty price tag. Large companies that can afford a Branded Hashtag Challenge can expect to pay around £150,000 for the six days that the ad will run. For those who have access to the self-service TikTok ads, you can purchase In-Feed Ads at a rate of $10 per 1000 views, with a minimum spend of $500 per campaign.
When it comes to deciding whether TikTok ads are right for you there a few things to consider:
Who is your target audience? TikTok is loved by teenagers and those in their early 20’s, so if they aren’t your target, TikTok might not be for you
What’s the size of your budget? For many, TikTok simply will not be an affordable platform in comparison to the others that are available
What type of products/services do you sell? The most successful campaigns are ones related to music, fashion, retail, food and travel
Like others that have come before it, TikTok is still in its early days, and whilst it may be outside of many business’s budgets right now, it may well become cheaper in the near future. It is worth keeping a close on eye the platform and keeping up to date with news to see how it continues to evolve.