15 June 2020
TikTok has launched a new platform called TikTok For Business to accommodate all of its current and future marketing solutions under one roof for brands and advertisers. The new platform will offer several advertising solutions and a range of tools for campaigns so that the brands could reach their respective targets.
TikTok already offers some marketing solutions for the brands and with a platform, it aims to offer a room so that more such tools could also be accommodated and help a brand decide what solution is good for them.
TikTok pitches that brands can use the power of the Hashtag challenge, a tool to reach more and more audiences and activate interactivity. Brands can create a challenge and call content creators to create some amazing, of course, in the form of TikTok videos around the hashtag.
With the introduction to the new platform, TikTok also announced an AR Branded Effect tool called Branded Scan that allows advertisers to create an AR experience. Brands can add their services or products (whatever they want to promote) to a clip in a 2D, 3D, or AR format. To gather more engagement, brands can combine this tool with the Hashtag challenge.
TikTok says that the new TikTok For Business platform will help marketers to be discovered and connect with the broader communities around them. TikTok wants the brands to not focus on “ads” and rather encourages them to make TikToks, which are short-form videos to build interactivity and an overall engagement as well. As the official page of introduction notes, "create authentic, creative content that could only be on TikTok.” In saying that, the company wants the advertisers to build content specifically around TikTok; Ads that are relevant and should not be running on any other platforms or apps.
Some other tools available on the TikTok For Business include Brand Takeovers, which are 3-5 seconds ads that can either be a video or image. One more is In-Feed Video that can be up to 1-minute videos and run with the sound on. There is one more tool called the Hashtag Plus that allows brands to include a shopping feature as well.
The platform also includes some case studies to help the advertisers to get started with it. The range of case studies can be found inside a new e-learning center for marketers. This also houses more learning stuff like product guides and resources to help the brands know how to build ad offerings. TikTok has featured a case study of Universal Pictures and pointed out that "By interacting with a popular topic, Universal Pictures was able to engage with American users to promote their upcoming movie."
TikTok has not disclosed the pricing structure of its ads tools and solution but it does say the parameter on which the pricing depends. According to TikTok, pricing is based on the brand’s target and scope of the campaign as well. Techcrunch points out that the official website of TikTok on ad budgeting tells that the daily budgets of campaigns much exceed 50 USD, which means this is the minimum pricing you ought to pay in order to get started.
While announcing the new TikTok For Business platform, Tiktok also announced that it is testing one more platform called Creator Marketplace in select regions. According to TikTok, brands can discover and partner with innovative content creators via this platform on paid brand campaigns.