The newly emerged social media app, TikTok, has gained about one billion users globally in a very short span of time (with over 1.2 billion installs), with a valuation of $75 billion. Over the last four years, the start-up has already secured unrivaled popularity – the innovative user experience (UX) is actually taking that trend go higher, and the current market statistics might be surprising to many!
As per Priori Data, the app is spread across 150+ countries, with the highest popularity in India and the US. With time, many customer-centric brands took over the platform to reach out to a broader audience and make their way to the sales funnel. However, today, the digital experience is not just confined to B2C marketing. With the significant digital transformation of the market scenario, there has been a remarkable move in B2B marketing strategies. Thus B2B marketers are continually striving to keep up with the latest market trends to improve their user base.
But, does TikTok really worth B2B Market Leaders’ Time?
To tap into the vast consumer group of Millennials and GenZ, B2B marketers are taking an interest in learning more about this social media app, and it’s potential. With the technological advances and high speed of mobile communication, B2B buyers are also demanding engaging and interactive content. In 2020, B2B buyers are mostly the Millennials – A study by Millennial B2B Report Merit shows that about 73% of the B2B buyers are millennials. It is evident that they grew up in the era of the internet and smartphones – the first step for any product or service query, and buying starts via digital channel search.
Now the question arises, how the 15-second videos can help B2B marketers?
It’s all the trends, and diverse consumer behavior – the way Facebook, Twitter, Instagram, and Snapchat helped brands drive immense businesses, TikTok will, too! It is a pool of more than 800 million active global users – according to the latest report by Datareportal on “Social Media Overview January 2020 DataReportal”. Clearly, it is time for B2B enterprises to invest in TikTok and build up a following with compelling content for an enterprise target audience.
The TikTok download numbers are going to go up moving forward. At this stage, it is a growing network for brands, maybe in certain niches, targeting a specific audience. However, it is already being touted as one of the biggest influences on the largest social networks in the near future.