It seems everyone is talking about the TikTok app. While you might not know much about it, you do know that young folks find it all the rage and that it's had more than 1 billion downloads, especially in the "under 30" crowd. So maybe you need to look into advertising on this hot social media platform. First of all...while TikTok is extremely popular among the under-30 crowd, it also has a pretty large following in the Millennial (21.7 percent) and Gen-X (20.3 percent) crowds. If you do the math, that's 217,000,000 Millennials alone, not to mention all the other users. TikTok isn't just a platform where teenagers record themselves dancing to music...(yes, we thought that at first, too). It's a short-form video-only platform that allows users to self-publish 1-minute, 3-minute, or 10-minute videos (select creators) about whatever they want (as long as it doesn't violate community guidelines). Content ranges from people showing funny pet videos to complaining about a bad day at the office to...yes, dancing to music. But mainstream news organizations now have business pages and make news posts, and even host live streams (the Johnny Depp court proceedings were all over TikTok from the mainstream news agencies). TikTok has become a legitimate platform to be on if you're a business...and one you should be on. Step one is to create a profile on the platform and then switch it to a pro account complete with the Business Suite. Then you will have access to the different types of advertising functionality. What's most important about TikTok advertising is that it is extremely NON-competitive right now. The platform is still young. It isn't yet oversaturated with advertisers and paid social media ads. This gives anyone who does choose to get in early on the advertising side a distinct advantage. And the platform boasts an average 17.99 percent engagement rate in 2022, according to EasyViral and Grin. TikTok offers a few different types of ads: TikTok advertising doesn't have to break the bank. You can use already-existing video templates on the platform that have music, input your own images, add your own URL and discount codes, and promote the video. The minimum TikTok ad campaign budget is $50. The average cost per 1,000 views on TikTok is $10, and the average cost per click is $1. This author has reached more than 5,000 people using less than half of that budget...so you could promote a couple of videos for $50. This is for in-feed video ads. Small businesses can be TikTok advertisers. Now, if you want to get into the sponsored hashtag challenges, those are a flat rate of $150,000 per week. A good rule of thumb is to budget a minimum of $500 per ad campaign to start, then take a look at your analytics, re-evaluate, and go from there. Yes, you may have heard about this quite a bit. TikTok was a little slow in the beginning as far as setting up official paid advertising on its platform. During this time, users were building large followings, even in the millions. This especially happened at the beginning of the COVID-19 pandemic. Brands began reaching out to these TikTok users with large followers, asking them to partner with and promote their products to their followers. TikTok Influencers were born, and it became a whole new source of income for some on the platform. Additionally, influencer partnerships gave brands an entirely new way to promote their products. While some only charge $5 per post, it can range up to $2,500+ for an influencer with a large following. Using influencers to market your product or brand could be more effective than utilizing typical TikTok ads. Sources say 49 percent of TikTok users have purchased a product after seeing it promoted by an influencer on the platform. Just be sure that the influencer you choose is a good match for the type of product you are trying to sell. This brings us to another key point. TikTok's best-performing advertisers are business-to-consumer and mostly focused on the sales of products. In addition to the previous advertising options mentioned, TikTok has partnerships with Shopify and Square, making it possible for consumers to shop directly on the app. This is done through a link on a merchant’s TikTok profile. Additionally, TikTok has a partnership with TalkShopLive, allowing some businesses to sell via live streaming on the platform. With your TikTok video ads, you will want to track the following metrics:
What Do You Need to Know About TikTok?
TikTok Advertising...What Types Are There?
So What Is the TikTok Advertising Cost?
What About TikTok Influencer Marketing?
What Types of Businesses Should Advertise on TikTok?
What Metrics Should I Measure on TikTok?
FAQs
OK Boomer, Here's the Scoop on TikTok Advertising Costs? ›
The minimum TikTok ad campaign budget is $50. The average cost per 1,000 views on TikTok is $10, and the average cost per click is $1.
How much does it cost to put an advertisem*nt on TikTok? ›TikTok uses a cost per mile (CPM) metric to charge for ads. This roughly translates into the advertiser paying 10 dollars or 9 pounds for every 1,000 views. If you want to start an advertising campaign, that will cost a minimum budget of 500 dollars or 410 pounds.
What is the budget for TikTok ads? ›Campaign level minimum budget: For campaigns, both daily budgets and total budgets must exceed 50 USD. Ad group level minimum budget: For ad groups, daily budgets must exceed 20 USD. Lifetime budgets will be calculated as the minimum daily budget (20 USD) × scheduled days.
Is advertising on TikTok worth it? ›In summary, TikTok ads have the potential to benefit businesses by providing a platform for reaching a younger audience, increasing important brand visibility, driving engagement, and utilising data-driven optimisation strategies to achieve advertising goals.
Do you have to pay to promote on TikTok? ›You'll see the cost to use Promote when you're setting it up. The cost will show in local currency (Android) or rechargeable coins (iOS). Promote is only a tool to help make your video more visible.
How much does TikTok pay per 1,000 views? ›How much does TikTok pay creators? It's estimated that TikTok pays around 2 to 4 cents per 1,000 views on a video. That's all thanks to the TikTok Creator Fund.
Why is TikTok advertising so expensive? ›TikTok ads are initially more expensive than Facebook ads, especially when it comes to cost per thousand impressions (CPM). This is because TikTok is still a relatively new platform for advertising, and charges premium prices for its highly engaged and influential audience.
How long do TikTok ads last? ›All video ads on TikTok should be between 5 and 60 seconds. Ads less than 5 seconds and more than 60 seconds will not be approved. If the video is too long or too short, add a new ad to your ad group. Saving changes or editing ad creative will trigger an ad review, which may take up to 24 hours to complete.
How much does a Facebook ad cost? ›How much do Facebook ads cost? Facebook bills advertisers based on two metrics: cost per click (CPC) and cost per mile (CPM), otherwise known as cost per 1,000 impressions. Facebook ads cost approximately 69¢ per click. Facebook ads cost approximately $9.88 per 1,000 impressions.
Are TikTok ads better than Facebook ads? ›Facebook achieves a higher CTR through ad copy optimization, whereas TikTok relies on captivating video content for increased CTR. With the right creative and targeting, businesses can achieve a high CTR on TikTok.
How much do TikTok ads cost per day? ›
How much are TikTok ads per day? TikTok requires a minimum budget of $50 per-day at the campaign level and $20 per-day at the ad group level.
What are the disadvantages of TikTok marketing? ›One of the main disadvantages of marketing on TikTok is its content format limitations. TikTok videos can be no longer than 60 seconds, which can pose a challenge for marketers who need to convey complex messages or showcase detailed product features.
Does TikTok boost your first video? ›TikTok boosts your first few videos, showing them to more people than usual, before dialing down the algorithm and letting you grow organically.
How many followers do you need to get sponsored on TikTok? ›Similar to other social media platforms, you should have at least 10,000 followers for brands to consider you. If you meet this requirement, in addition to the basic TikTok rules, it is likely you can get sponsored by a brand or business on TikTok.
How much does advertising cost? ›On average, small businesses spend $2500 to $12,000 monthly advertising online. While most small businesses pay $10,000 on online advertising yearly, more than 37% spend less than this amount annually.
Is TikTok good for business advertising? ›TikTok for small businesses is a powerful marketing tool can help them reach a wider audience and increase their conversion rate. It allows you to showcase your products and services creatively and engagingly, which can instantly attract the viewers' attention.