This article originally appeared in Fast Company.
Regardless of TikTok’s fate, it has set the bar that all brands must meet.
Recent federal and state government actions to prohibit TikTok on government devices feels a little like déjà vu back to 2020 when the platform was almost banned outright.
And while the fate of the platform may be once again up in the air, TikTok’s effect on how we perceive and consume media isn’t going anywhere. In fact, TikTok is on track to become the third social network to reach 100 million monthly users in the U.S., joining the ranks of Facebook and Instagram.
As the user numbers prove, TikTok has become a mainstay in many people’s lives. More than 60% of Gen Z said they’d opt for TikTok over traditional TV or streaming, and over 40% of all users say it’s their go-to source for entertainment or comic relief. For better or worse, a quarter of adults under 30 regularly get their news from the platform, and roughly 40% use it in lieu of traditional search engines.
Most brands have taken notice, with TikTok owner ByteDance representing an increasing share of national ad spending from just 2% in 2020 to 7% in 2021 to 11% in 2022.
Whether the platform sticks around or not, TikTok’s rise has major implications for publishers, marketers, and advertisers. Here’s how it’s irrevocably transforming media:
1. SPEEDING UP THE TREND LIFECYCLE
TikTok has become the cultural zeitgeist. Nowhere else—even across rival social platforms—can you more clearly see trends break through. In many cases, trends are happening on TikTok before they happen anywhere else, appearing on the app for a short period of time and then they’re gone just like that.
The Wednesday Addams dance, the “boat effect,” and Miley Cyrus’ post-breakup hit Flowers are just a few recent examples of cultural phenomena that went viral seemingly overnight. (Case in point: These will likely be distant memories by the time this piece is published.)
But that’s the catch for brands.
In order to stay at the cutting edge of what’s happening in culture, brand marketers and social media managers should remain immersed in social media with a daily, if not hourly, presence on TikTok.
2. LEVERAGING INNOVATIVE FORMATS TO KEEP PEOPLE’S ATTENTION
Thanks to TikTok, marketing and media formats will never be the same. The platform has demonstrated incredible prowess in adopting what’s working for its competitors, such as Instagram photos, while also experimenting with new features that are winning the competition to capture consumers’ short attention spans.
TikTok videos that historically went viral were short videos that have been watched in their entirety. With a diverse offering of features and formats, TikTok is cracking the code on how to keep users’ attention even longer. Now, longer-form tutorial videos are experiencing increased views, being watched from beginning to end.
Brands can learn a lot from TikTok. The app is modeling in real time what’s grabbing and holding the attention of massive audiences, something all brands aim for.
3. REIGNITING THE IMPORTANCE OF NICHE AUDIENCES
A recent study found that an incredible 91% of Gen Z says there’s no such thing as “mainstream pop culture.” And they’re right. So what’s driving consumer trends today if not mainstream culture? Niche subcultures and authenticity.
The explosion of TikTok has contributed to the slow but clear transition to Web3 and a more decentralized online experience. Trends can emerge from anyone anywhere and gain a foothold by reaching ordinary people who share common interests, gaining popularity from the ground up.
This new trend life cycle requires brands to understand and target specific communities—tied together by niche interests—that will talk, share, engage with, and eventually elevate their content. Knowing who makes up your niche audiences is essential for any brand’s growth.
THE BOTTOM LINE
As more people have incorporated TikTok into their daily lives, the platform has rapidly reshaped the media landscape, pioneering new formats, setting a new formula for engagement, and becoming the go-to destination for breaking trends. Regardless of the platform’s fate, it has set the bar that all brands must meet.