/* ---- Google Analytics Code Below */

Saturday, March 25, 2023

Would a TikTok Ban Cripple Influencer Marketing?

Been following this recently on Youtube, novelty key.  Much more by marketing experts at the link.

Would a TikTok Ban Cripple Influencer Marketing?

Mar 21, 2023,  by Tom Ryan

The Biden administration last week threatened to ban TikTok in the U.S. if the app’s Chinese owners refuse to sell their stakes, raising questions about if competitors Instagram, Snap and YouTube can fill the void for the influencer community.

For the third year in a row, TikTok held the record as the most downloaded app with nearly 40 percent of TikTok’s advertising audience aged between 18 and 24.

Influencer Marketing Hub’s “The State of Influencer Marketing 2023” report found that TikTok is now the most popular influencer marketing channel (utilized by 56 percent of brands using influencer marketing), surpassing Instagram (51 percent) for the first time. Facebook (42 percent) and YouTube (38 percent) follow behind.

Thomas Walters, Europe CEO and co-founder of creator agency Billion Dollar Boy, told Campaign that factors such as TikTok’s personalized algorithm, lack of emphasis on follower count and its shift towards “spontaneous, raw, unfiltered content” are all helping drive the platform’s popularity.

In a recent blog entry, Kolsquare, the influencer marketing platform, said that while facing challenges with conversion, TikTok is “the clear leader when it comes to driving trends and engagement amongst the youngest users of social media” and has an edge in driving awareness over other platforms.

Both the Trump and Biden administrations have said that the app poses a national security threat amid concerns China could tap user data to spread misinformation. On March 23, testimony by TikTok CEO Shou Zi Chew before the House Energy and Commerce committee may raise the rhetoric.

Some content creators are seeking to diversify to Instagram Reels or YouTube Shorts, but others doubt the TikTok ban will take effect, according to The Wall Street Journal.

In terms of potential purchasers for the app, a New York Times article speculated that many buyers could not afford TikTok (valuation at $50 billion or more) or would not want to deal with the antitrust scrutiny of an acquisition.

Many brands, according to Advertising Age, continue to put marketing dollars behind TikTok, given the likely delays or challenges that would come with enacting an outright ban. Becca Millstein, CEO of tinned fish brand Fishwife, told Adage, “We believe that TikTok can be a powerful source of organic discovery and hope that we have the opportunity to utilize it as such.”  ... '

No comments: