TikTok Introduced A New Platform For Brands And Marketers, TikTok For Business

Today, TikTok officially announced the launch of TikTok for Business, a new platform that serves as a home for TikTok’s marketing solutions for marketers and brands. It also provides new ad formats including TopView, an ad that you see when you first open TikTok.

Other products such as Brand Takeovers, Hashtag Challenges, Branded Effects, and In-Feed Videos have also been added to TikTok for Business. An ad with a 3-5 seconds duration is called Brand Takeovers, and it can a photo or a video. In-Feed Video can be run with sound on and their duration can be up to one minute. With the Hashtag Challenges, brands can participate in the TikTok user community by inviting users to create videos around a specific hashtag, and the Hashtag Plus allows brands to include a shopping feature.

Lastly, Branded Effects helps you to insert yourself more directly into the video creation process. With these effects, brands or products can be added to a clip in a 2D, 3D, or AR format. Brands can also combine these effects with Hashtag Challenges to enhance brand engagement.

The company is also introducing a new AR effect called Brand Scan. Additionally, TikTok for Business is also introducing a new e-learning center specifically designed to help marketers learn more about the platform and its ad offerings.

The company has not publicly revealed the pricing for ad solutions and tools, however, TikTok states that pricing will be based on what a particular marketer wants to achieve and the scope of their campaigns. Currently, brands operate closely with the company to buy and manage their campaigns, but TikTok is creating new solutions to make the process more convenient.

With TikTok for Business, the company aims to compete with other platforms such as Facebook, Snapchat, and Twitter. This afternoon, TikTok will present this new platform to marketers at the IAB’s (Interactive Advertising Bureau) NewFronts.

The company will position TikTok for Business as a place where advertisers can create content that becomes a part of the TikTok community. Some of the campaigns on TikTok became so successful that users also create their versions of the campaigns. The company is also testing the ‘Creator Marketplace’ platform in selected countries which was introduced last year. According to reports published in Jan, TikTok’s revenue may increase by over 300% by Q4 of this year. TikTok’s US revenue is expected to $500 million in 2020.

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