TikTok has emerged the best advertising platform for the year 2023.
The social media app has outdone other global media platforms, according to Kantar’s 2023 Media Reactions report.
TikTok, known for its short-form videos and viral challenges which contribute to highly efficient sales outcomes, has influenced how users consume content and also become a turning point for artists, creators, and businesses.
According to NCS, the platform asserts a Return on Ad Spend (ROAS) of $4.10, surpassing television’s $2.10.
Aside advertising, TikTok has also improved the entertainment industry in 2023. Since its algorithm prioritises engagement over follower count, resulting in the rise of micro-influencers, users are more likely to discover new topics they didn’t know they liked.
After seeing an ad on TikTok, viewers trust the brand 41% more and are 31% more likely to be loyal to the brand. Creator-to-fan connections empower creators to launch careers through viral trends.
In the music industry, TikTok’s influence is highlighted by viral trends taking songs to #1 on the charts. Studios also use TikTok to generate buzz for TV and film releases, leveraging viral challenges and hashtag campaigns.
TikTok’s diverse range of advertising options, including in-feed ads, branded hashtag challenges, branded effects, top-view ads, TikTok shopping, and influencer collaborations, present a myriad of opportunities for both business owners and entertainment enthusiasts, solidifying its status for 2023 and beyond.
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