Ever since the novel coronavirus became a global pandemic around the month of February 2020, many people have been forced to stay at home, in order to, effectively, halt the spread of the virus.
Many social media platforms have, also, gained more followers, which has translated to the exponential increment of their revenues.
One of the social media platforms that have gained massive recognition, due to the lockdown protocol initiated, by many countries in the world.
TikTok is one of these social media platforms. According to data gathered by Learnbonds.com, TikTok has recorded an all-time high number of downloads of 200 million, for the first quarter of 2020.
Sometimes in the month of April 2020, the company made an announcement that TikTok has over 500 million monthly users and has been downloaded from the Google Play store over 1 billion times.
The above statistics can only translate that, the giant social media platform is making huge revenue, but to further increase its revenue source, the company has launched a new business line, simply called TikTok for business.
The move by the company is, solely, to help people leverage their platform on TikTok and promote their goods and services, to millions of people, using the app every day.
The management of TikTok has been able to divide the product, TikTok For Business, into different parts, (To user’s benefits) and these include, Brand Takeovers, In-Feed Videos, Hashtag Challenges and Branded Effects.
Outlined below are the four, (4), parts of the TikTok for business:
- The Brand Takeovers: This is a 3 to 5 seconds ad that can, either be a video, or image.
- In-Feed Videos: This can be up to 60 seconds in length and run with the sound on.
- Hashtag Challenges: This allows brands to participate in the user community, by inviting TikTok users to create content, around a hashtag of their choice. This includes Hashtag Plus, which also adds a shopping feature to this experience.
- Branded Effects: This allows brands to insert themselves, more directly, into the content creation experience.
“With the launch of TikTok For Business, we set out to embrace the creative, positive and real moments that make our community so special, with solutions for businesses to connect and grow, with our wonderfully, expressive community”, stated Katie Puris, Managing Director, Global Business Marketing at TikTok.
“As we continue to build a platform, where brands bring immense value to the user experience, we’re excited to continue investing in solutions that give brands a platform to inspire others, be discovered and meaningfully connect with the TikTok Community”, she concluded.
Featured Image: tiktikforbusinesseurope
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