TikTok is a unique social media application with vast and diverse content. From the ever-loved cat videos to new-age celebs dancing, lip-syncing, and performing viral challenges, this application has captured the world’s attention. With its implementation of the TikTok Creator Marketplace (TCM), the platform is now making its mark on the world of commerce, especially e-commerce.
What is TikTok and How Does it Work?
TikTok is a content platform that allows users and creators to upload short-form videos for others to watch, like, share, collaborate with, as well as sell and advertise products.
What began as 30-second snippets now has a cap of 10 minutes, and creators can have videos/posts with more information. Despite its short format, the average user spends around 95 minutes daily on the app, and about 1 million videos are viewed daily.
Most of the content on the application is trend-driven, meaning that content will never be as evergreen as creators would like. This forces content creators to have a regular posting schedule to stay relevant and top of mind with their viewers.
What Makes TikTok Different
TikTok has changed the way people consume media over the internet. Before, users could view pictures or long-form videos. Now content is shorter and geared towards high engagement. The days are numbered for the old ways of content creation.
To support this notion, we have seen other apps adopt similar, if not the same, features. Instagram has its ‘Reels,’ YouTube has ‘YouTube Shorts,’ and Twitter has a feature called ‘Twitter Explore.’
Not only does the length of the content matter in how it is consumed, but also how the ‘algorithm’ plays a role in who views the content. All social media platforms use interactions such as likes, shares, comments, and follows to influence an algorithm. One main differentiating factor comes when TikTok’s algorithm focuses on pushing content you have not seen within the same category rather than showing you content from creators you already follow or who are just popular.
With the influence this application has had on social media, it’s scary to think how it will change the way e-commerce, m-commerce (mobile commerce), and the promotion of products can be changed too. One feature is that content creators and businesses will have the opportunity to invite one another to promote or be promoted.
TikTok, like many other social media applications, helped influencer marketing grow to where it is today. The Influencer market is growing to a point where it will be worth $21 billion.