Advertisers are looking to leverage TikTok’s challenge format for the user-generated content that it produces.
TikTok’s growing audience has started attracting major brands like Procter & Gamble and Kellogg’s among other big names as they look to drive awareness during the crisis. Some of the campaigns that launched on TikTok have seen higher reach than any other platform.
Yuval Ben-Itzhak, CEO at SocialBakers, said the short-video sharing platform has higher supply than demand as compared to Facebook. He further said that “theoretically” advertisers could get a much wider reach at a smaller cost on the China-based platform.
According to two media buyers, TikTok’s cost-per-thousand-impressions is as low as $1 and is cheaper than Facebook’s $4 for news feed and story formats. Despite lower costs, TikTok’s CTRs are lower than other platforms, making it a more expensive platform to drive conversions.
[4 minute read]