TikTok: To Ban or Not to Ban?
Tiktok, the popular social media platform, has been around since September 2016 [1]. Currently, there is legislation to get the app banned. The reason being is that it’s owned by Bytedance, a Chinese company [1].
Rather than delve into the political specifics, we will approach this from a purely marketing perspective.
Here are just some of the statistics worth pointing out, as explained by Sprout Social: [2]
- The app generated $2.7 billion in 2023.
- 1.5 billon monthly active users.
- More Gen Z users than Instagram.
- Expected to hit 2.2 billion users by 2027!
In addition, Tiktok is known to also have a profound impact on the following categories:
Influencer Marketing: [3] Defined as “a type of Social Media Marketing based on Brand/Influencer partnerships and involves endorsements.”
- Did you know that influencers/micro-influencers can charge $150 — $3,500 per post? [2]
- Some of the most famous include — Khaby, Mr. Beast, Addison Re among others. [2]
- The latest influencer is Reesa Teesa, who documented her journey of her marraige to Legion. [4]. She eventually got signed by CAA [5].
Creator Economy: [6] defined as “Software-facilitated economy that allows content creators and influencers to earn revenue from their creations.”
- Within this segment, Tiktok accounts for 12% within the “amateur” creator category. [7].
As an avid marketing professional who experiments with different platforms, I sincerely hope that Tiktok doesn’t get banned — it would have a devistating impact on the marketing ecosystem — among the types of categories as discussed.
Each platform is unique for different target segments. Another reality is that the Social Media/Marketing landscape is always evolving — and there will always be a platform for content creation to happen.
Sources:
[0] Google Images
[1] how long has tiktok been around — Google Search
[2] 27 TikTok Stats Marketers Need to Know in 2024 | Sprout Social
[3] influencer marketing definition — Google Search
[4] Who TF Did I Marry: Reesa Teesa on Her 15 Minutes of Fame (thecut.com)
[5] Tareasa “Reesa Teesa” Johnson Signs at CAA (hollywoodreporter.com)
[6]creator economy definition — Google Search
[7] 22 Eye-Opening Creator Economy Statistics (2024 Data) (bloggingwizard.com)
Tej Yale is the Founder/CEO of ThinkImpact Inc, a Marketing Company based in Rochester Hills, Michigan. They offer Social Media Management, Content Management, Graphic Design, Event Promotion, Website Development, Marketing Consulting, Project Management, Business Support.
You can learn more at www.thinkimpact1st.com
