3 TikTok Trends Brands Should Pay Attention to in 2023
TikTok has rapidly risen to the top of the social media landscape, eclipsing Instagram, and Snapchat in popularity. Despite mixed opinions about the platform, there is no denying that content creators have a chance to earn from their profiles as the app continues to grow. With over 45 million Gen Z users accessing TikTok at least once a month, and kids spending significantly more time on TikTok than on YouTube, it is vital for brands, marketers, and content creators to keep up with TikTok trends and make the most of the 95 minutes per day that the average user spends on the app.
Below we have shared 3 trends that you should take note of:
1). More than 50% of TikTok’s users are women
More than half of the global TikTok user base identifies as female, with over a billion users and 670 million downloads in 2022. Despite this, only 18% of marketers fully utilize TikTok as an advertising channel. However, there is a vast network of talented social media influencers who can collaborate with brands to launch successful marketing campaigns. Brands should take female TikTok users more seriously, as women control or influence at least 85% of consumer spending.
2). Sales Hub for Brands and Influencers
As per latest statistics, sales on TikTok’s platform have surged by almost 400%. Influencers are taking advantage of advertising and sales opportunities, such as affiliate marketing and paid partnerships, leading to the increase in sales. Small businesses are also leveraging TikTok’s platform to establish sales chains aimed at younger audiences and expand their customer base. As the primary user base of TikTok has grown older, between the ages of 20-39 which comprises almost 46% of active users, means that there is more purchasing power and interest in products and services with higher price points.
3). TikTok Monetization for Influencers
Influencers find TikTok monetization methods more complex than other platforms due to its novelty and the absence of clickable links. They must frequently promote affiliate codes or change links in their profiles to sell products. However, TikTok influencers have found that partnering with brands in addition to affiliate marketing is a successful monetization strategy. Recent data shows a 58% increase in TikTok blogger income from brand partnerships in the past year.
In conclusion, brands should pay close attention to these three major TikTok trends of 2023. With more than 50% of TikTok users being women, marketers should focus on tapping into their vast purchasing power. Additionally, businesses can leverage the platform’s advertising and sales opportunities to drive revenue growth. Finally, TikTok monetization is still largely untapped for content creators, presenting a unique opportunity for marketers to collaborate with influencers and establish a strong presence on the platform. By keeping these trends in mind, brands can stay ahead of the curve and unlock the full potential of TikTok’s massive user base.
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