Can TikTok really be the solution to a brand’s marketing woes? The fact that some brands are still skeptical about this, and are on the fence, shows just how uninformed people are about what a social media avalanche TikTok is! Let’s just say – In the cafeteria of social media platforms, TikTok is now the table where all the cool kids sit. You may love or hate the content on it, but the fact remains that you just cannot ignore it. The addictive nature of the app has made it a massive avenue of expression, and marketers are yet to realize the real magnitude of its reach. Wondering just how big is its impact on modern society? Here, let’s take a peek at these TikTok Stats.
TikTok and brand’s are a match made in heaven! Not convinced? Have a look at our detailed blog: What is TikTok For Business and Why Does It Work?
1. Number Of Downloads: More Than 2 Billion!
As of August 2020, TikTok has been downloaded more than 2 billion times from both the Apple and Google Play Stores. It was also the most downloaded app in 2020. TikTok has been downloaded more times than WhatsApp, Facebook, Zoom, and even Instagram. No app has crossed the 2 billion mark as quickly as TikTok.
TikTok has been downloaded by more people than the population of any country! That is also more than the population of any continent baring Asia to put things in perspective. That just shows the size of every potential market on the app. Even subcultures and niche markets on TikTok have a significant user base and brands only need to penetrate a minor percentage of their potential audience to achieve their marketing goals.
With such an enormous reach, any brand that doesn’t have a TikTok strategy in place is already left behind. Get moving with our blog: Tips To Develop Your Brand’s TikTok Marketing Strategy.
2. Social Media Ranking: 7th
TikTok is the 7th most used social media app in the world with 689 million active users as of January 2021. While 7th might not sound impressive, the 6 that outpace it are apps that have been around for way longer! All the top 6 have more than a billion active users with Facebook leading the pack (2.7 billion).
Given the rate at which TikTok has risen on this list, it won’t be unrealistic to predict that it will rise further in the coming years. Brands that invest marketing resources on TikTok now will have a first-mover advantage. TikTok would already be higher on the list if not for bans in China and India, the 2 most populous countries in the world.
Figure 1. The world’s most used social media platforms. Source: Hootsuite
3. Number Of Countries: 200
Despite the above-mentioned bans, the app has still made its way to the app store in 200 countries, with 50 being added just in the last year. The app is also available in 75 languages, covering most of the world’s population. This rate of growth is unprecedented, with a presence in many new markets.
As a marketer, the app provides infinite opportunities to accurately target the brand’s audience. For a brand looking for a global presence, the app provides untapped access to multiple geographies. There is also a chance of the target demographic being located in different geographies and TikTok gives you a statistical chance of reaching them seamlessly.
With a reach that transcends geographies, TikTok’s global virality is an undeniable phenomenon today! To utilize TikTok for brand reach, do check out: 8 Key Attributes of TikTok Video Virality.
4. TikTok Online Searches: 3rd
The terms ‘TikTok’ and ‘Tik Tok’ are the 3rd most searched query on online search engines combined. The 2 most searched queries that supersede these are ‘song’ and ‘songs’. Given the importance of SEO today, this paints a realistic picture of TikTok’s growth among internet users.
The stat clearly shows that substantial numbers of users on the internet are actively and intentionally seeking out TikTok. With the active interest in the platform, marketers have an unprecedented and engaged audience who are looking to be informed and entertained on the platform. Brands can also amp up their SEO efforts to be found more easily by users on the internet.
The world is actively seeking out TikTok on the internet, making it a great time for influencers! The culture of influencers on TikTok is here to stay for a while. Check out our blog: TikTok’s Influencer Culture: What Makes It Unique.
5. World’s Most Valuable Startup: $100 Billion
TikTok’s parent company, ByteDance, has a valuation of over $100 billion. In 2019, it overtook Uber, which had held the position for years, as the world’s most valuable startup when it achieved a valuation of $75 billion. Some publications even value the brand at $140 billion after the most recent round of funding raised its value by 33%.
In a world filled with uncertainty, social media marketers can take solace in the fact that TikTok will only continue to grow as a business and users aren’t going anywhere anytime soon, thereby allowing brands to make long-term marketing plans. The meteoric rise also ensures that the platform will keep improving, making it easier for brands and users to coexist and interact through engaging content.
6. Active Users Worldwide: 800 Million
While the app might have 2 billion downloads, 800 million of those are active users. That is a phenomenal retention rate for an app that has often been branded ‘frivolous’ and ‘superficial’. It has more active users than Twitter, Snapchat and LinkedIn. Instagram has 1 billion and might get overtaken by TikTok soon.
If 800 million people are using the app every day, brands can rest assured that their target audiences are active on the app. 70% of this is the Gen-Z audience (16 to 24 years). It is these users who truly engage on the app and make loyalty/purchase decisions based on promotions and marketing campaigns on TikTok. The large active user base could also include multiple subsets of users who could be targeted through one single campaign.
7. Average Time Spent Per Day: 52 Minutes
The average TikTok user uses the app for almost an hour every day! Users spend the same amount of time on Instagram every day with 53 minutes and slightly less time on Snapchat daily with 49 minutes. Facebook leads the way with 58 minutes but that isn’t much of a lead considering how much older than TikTok it is. The founders of the app did everything in their power to make it addictive while developing the app and were extremely successful.
Given that the maximum length of a video on TikTok is 15 seconds, 52 minutes is a fairly long time. This means that users are either spending time watching several videos per day or spending time on the app shooting videos themselves. Either way, this is a win for marketers as the level of engagement indicates that there is a very high chance marketing campaigns will reach the desired audience if targeted correctly.
Figure 2. Top social and video streaming apps by time spent. Source: Hootsuite
8. Daily Average Videos Viewed: 1 Billion
In the last couple of years, there are more than a million videos consumed on the TikTok app every day. The truly phenomenal part of the story is that the app reached this level of 1 million daily views within a year of its development. The app has catered to viewer needs from the get-go, across Western and Eastern markers alike.
The two key building blocks of TikTok are content and community. Not only does content have a fair chance to go viral through a democratic algorithm, but audiences are also extremely tight-knit and don’t hesitate when it comes to sharing content with their peers. New and old brand videos have the same probability of going viral irrespective of when the content was posted, and every video has an equal chance of reaching existing users as well as catering to a new audience.
9. TikTok Users Who Have Uploaded Content: 55%
With 55% of TikTok users having created their content on the platform, it is significant that more than half the app’s users are creators and not just consumers. While the proportion of the audience looking to just consume content is massive, there is still a large user base looking to create content.
With more users creating videos, the algorithm has no option but to be democratic. This reduces the challenges faced by marketers and creates several de facto salesmen for a brand through user-generated content, should a trend go viral.
10. Lifetime User Spending On The App: $456 Million
Despite being a byte-sized content platform with 15 second videos, users are willing to spend significantly on the app. This has made TikTok the top-grossing non-gaming app in the world, with revenues almost doubling month-on-month.
There is nothing that marketers love more than users meeting them halfway by being willing to spend on in-app purchases. A spending audience is an engaged audience and is way more likely to take marketing communications seriously.
Marketing Stats To Put Things In Perspective
- Brand takeover ads cost anywhere between $20,000 – $200,000 (Digiday, 2019)
- Hashtag Challenges cost brands $100,000+ (Adweek, 2019)
- TikTok recommends an additional $100,000 – $200,000 in ad spend within TikTok to promote a hashtag challenge (Adweek, 2019)
- TikTok influencers with 2.5 million followers or more charge around $600-1000 per post compared to $100-$200 for every 10,000-20,000 followers on Instagram (Telegraph, 2019)
- TikTok ads can send users to your website, an app page in the app store, or promote your hashtag challenge on the platform (TikTok, 2019)
- Brands are able to create branded AR lenses, filters, and stickers for TikTok users to insert into their video content. (TikTok, 2019)
Influencers have an unparalleled impact on a brand’s marketing strategy! For a deeper understanding on how to leverage their reach on TikTok, check out: How To Get Started With Tiktok Influencer Marketing.
Almost every statistic or number associated with TikTok suggests that the app will continue to grow exponentially and will show no signs of slowing down anytime soon. It creates a fair and encouraging marketplace for brands and connects them with audiences who are extremely willing to engage. While marketers are aware of the brand’s success, the sheer magnitude displayed through the statistics here is staggering. It is imperative to stop ignoring the platform and get on the bandwagon before they’re left behind.
This blog has 10 undeniable reasons to get started on TikTok marketing for your brand. If you’d like to learn more about the platform, check out: TikTok for Business 101: Everything Brands Need to Know.
Need expert help? We’ve got your back! At atisfyreach, we provide services that help brands establish a strong presence across social media platforms, and connect them with influencers through tailored marketing campaigns.
Get in touch, and let us help you build a true connection with your audience.