Everybody speaks about TikTok, right? So, why is this platform so famous and who really uses it? Launched in 2016 by a Chinese company ByteDance, TikTok displayed an amazing three-year growth. Today, more than 800 million users engage in this entertaining platform worldwide. Entertainment is what it's all about. TikTok is a platform that allows its users to create short stories and add a musical background. Not by any chance did TikTok (ByteDance) acquire Musical.ly. Music plays a key role in the content of all TikTokers. Let's have a look at the key TikTok demographics and stats!
As already stated, the growth of TikTok was exceptional- not only in that it gathers almost one billion users, but TikTok is already available in 155 countries. India is at the top of the list with more than 43% of all app users being from this (not just technologically) ever-evolving country. Let's look at the top 10 countries with the largest TikTok audience:
I pretty much expect that you already know that the TikTok audience is one of the youngest (if we compare it to other social media platforms). That's also one of the main concerns marketers and advertisers have. In fact, 41% of all TikTok users are between 16 and 24 years old. Overall, 56% of all TikTokers are male, 44% female. Looks fairly equal, doesn't it?
Surprisingly, if you look at the U.S. user base, you will find out that even older generations use this video-focused app. So the “myth” that TikTok gathers solely kids and teens may be misleading, don't you think? This platform is probably here to stay and you can expect that every generation will jump on this train. It's just a question of time.
Let's dig deeper into what the U.S. TikTok audience looks like:
Yes, the strongest user base is still in the 18-24 y.o. range, but there is also a group of almost 25% of users between 25 and 34 which – knowing these people are in a productive age – could also be your target audience. Interestingly, 37% of all U.S. TikTok users claim their yearly income is above $100,000.
Let's speak about growth one more time. There is already a plethora of social media platforms that gather billions of users. You probably wouldn't expect another one to jump into this red ocean (here is an explanation of what I mean by that) and to experience such growth. When we speak about mobile apps, one of the key factors of its success is the number of downloads, right? Let's look at 2018 and the comparison to other social media giants in this field. Again, this data is narrowed to the U.S. audience:
Sure, platforms like Youtube or Facebook already gather billions of users, so it's tougher for them to grow rapidly year after year. But it will definitely be interesting to watch TikTik grow in the following years… because the start, as you can see, is incredible!
TikTok, being mainly a video platform, can be really engaging (or addictive in other terms). Not surprisingly, people spend, on average, almost an hour per day on this social media app.
What do people really do on TikTok, you might ask. Knowing that this platform is all about videos (in a vertical format), guess what... people watch videos. But that's not all they do. Let's look at the key behaviour stats (konstructdigital.com):
Today, just 4% of marketers use TikTok to promote their brand. What exactly does that mean, you may ask. The more advertisers on any platform, the higher the competition and the harder (more expensive) it is to reach your target audience. Knowing that TikTok is a greenfield on which you can build your brand (if there is a match with your audience), you definitely do not want to miss the chance to be one of the first. Because everyone who joins later will – simply put – pay more. Let's look at how TikTok does in comparison to other giants in the industry:
As you can see, platforms like Facebook or Instagram are already pretty crowded… The cost per unit (be it per one user reached or one click to your website) is, therefore, getting more and more expensive.
So how can you jump into leveraging TikTok for your benefit? There are basically three ways:
Let's talk money for a second. TikTok makes an estimated $1.4 million per month. 43% of all of its revenue comes from the U.S.
You know that when leveraging any platform for your business, you need to keep in mind two major things:
Knowing that more than 50% of TikTokers are below 34 y.o. gives you an idea of who you can potentially target. Does this align with one of your buyer personas? If so, what principles do you need to respect when creating content for this particular channel? TikTok is all about short vertical videos, so you should not come up with great horizontal and static images to wow your audience on TikTok! That simply won't work (even technically it won't). Knowing who uses the platform + what principle the platform is based on will help you determine what your plan should look like. A great example of such an alignment is Puma. Check out how they used TikTok to promote their product.
Lastly, if you want to get more inspiration on how to engage with your audience, take a look at the top 50 content creators on TikTok.
You can either follow a trend or go against it. The choice is yours. The truth is, nonetheless, that if you fall behind, your competitors may overcome you – steal your customers and offer a better service or product. Knowing that being a business owner is a tough job, technology is sometimes considered too hard to implement because it is costly to hire a strategic partner or IT support or time-consuming to learn new tactics yourself. These myths may not apply for your business – today's tools are made to be easy to implement and understood by non-technical individuals.
Technology influences every aspect of your business – IT, finances, logistics, sales, support or marketing. New approaches teach us constantly how to become more efficient at what we do. Saving money or time, increasing the scalability of our businesses or inventing new products and business models is backed by the evolution of technology. On the other hand, not everything that glitters is gold… We've written an article about the difference between trend and hype. Watch carefully what's going on in your industry and what your customers need or require (which is definitely the most important factor of all), but don't jump on every train that goes around. Not everyone will make it to the final station. There is a difference between what influences your business and what doesn't.
We will cover some trends for 2020 below, but before we jump into that, let's speak about the context. In 2018, 50% of the world's population was online. Today in 2019, it's more than 54%. Now, most people have jumped into the information age, where everything is moving at an unbelievable pace. Not only are things (goods and services) changing on a daily basis, but their costs are constantly decreasing. Imagine you bought a 3D printer 12 years ago. 40,000 USD is what you'd have paid. Today, the cheapest 3D printers cost around 100 USD. Yes, your math skills are up to par: 400x less.
Everything changes. We either accept it and do our best, or die.
The goal of this article is to encourage you to follow the trend and embrace the newest technology in 2020, not to speak about morbid scenarios.
Going back to where we began: YOU CAN EMBRACE TECHNOLOGY IN 2020, because it is meant to be available for you. When running a local business, you focus on what's really important, right? You don't want to spend time doing things that don't positively affect your bottom line. Being an entrepreneur, there are two key factors to go after:
To achieve one or the other, you might try tactics you haven't tried yet. To understand them, let's dive into a few trends to follow in 2020:
We are bringing you our marketing knowledge, not necessarily the overall business strategy. You know your business best, but we know what saves you time and generates more money when it comes to marketing. Automating routine tasks and delegating the costly work, that you or your agency needs to do, to tools like groost. allows you to manage your online campaign effectively and for a fraction of the price. If you rely on your sales team, CRM systems like Hubspot or Pipedrive strive to help you automate follow up emails or customer retention activities. There is a plethora of tools to use, which we have covered in this article.
"For more than 30% of small businesses is marketing the number one challenge” by Mailchimp
We keep repeating this, I know. But it simply is the Holy Grail – always put the customer in the center of your (not only marketing) activities. I can assure you this won't be relevant only in 2020, but will last for decades. The times in which Henry Ford kept saying “You can have any color as long as it's black” is over. In today's era, your customers' desires and preferences are what should keep you awake at night.
Does this apply to marketing only? Not at all. Imagine you market your product so that hundreds of people are waiting in line to buy from you. Once they approach the cashier they turn back and never come again – unwillingness to serve your customers nicely by one of your employees can be very costly. To give another example, say you run an ecommerce project. Everything from marketing to IT works great, until your logistics crash and the customer does not get what she ordered. Is this something that can badly harm your business? Absolutely! Customers have many touch points when dealing with your business – make sure every one of them is as customer-friendly as possible.
Let's stay in the marketing field for now. You probably run your profile on social media. Having 1,000 page likes brings you nothing if you only reach 20% of them. The organic reach is – and will be – decreasing constantly which we covered in our latest article. You will have no other choice, but to create truly engaging content that resonates with your audience and to invest in paid advertising. What you need to focus on is:
According to the Deloitte Small business technology trends, 80% of small businesses aren't taking full advantage of digital tools. Be the 20% of them.
There are two main communication strategies: inbound & outbound. Inbound makes the potential customer discover you by the content that you create – be it articles on your website, videos on your Youtube channel or podcasts on Spotify. Outbound is focused on push or disruptive strategies – you reach your potential customers while they scroll on their social media feeds, watch videos on Youtube or read articles. Working on your content brings you long-term results. Educating your audience, providing valuable content (and boosting your inbound marketing) is something you should be focused on throughout not only 2020, but every upcoming year.
We've come across a few basic tips to leverage technology in 2020. As stated, even small businesses can – and should embrace the latest technology (not only in 2020, but beyond).
We’re all used to connecting the term ‘brand' with relationships to companies and products. However, that’s not what we’re going to talk about right now. A personal brand is kind of like a stamp that defines your persona and how people see it. In the past, personal branding used to be only about business cards, logos and websites. Today, it’s much more diverse. (Although websites are still useful for anyone building their brand and if you'd like to know more, you can read about this topic here.) Anyone who has access to the internet and social media can showcase themselves as an expert, build an audience, and attract clients that might be interested in their business. It’s a connection between how you see yourself, how you communicate with others and how they see you. Now, where do you start and how do you build a brand for yourself?
We have all been there- investing into an ad that simply does not convert! We spend hours trying to figure out where the pain point lies and NOT being able to get it right… Your goal, as a business owner or marketer, is to get the most out of the investment that you put into any marketing campaign, right? Marketers call it the ROAS – return on ad spend. We are lucky to cooperate with many businesses that continually generate revenue on Facebook and, thus, grow their business. Thanks to this valuable data, we are able to bring you the 7 Key Reasons Why Your Facebook Ads Don't Convert. Let's dive in!
Is affiliate marketing effective for small businesses? Can this channel help your business get more customers and earn more money? The short answer is yes. The long answer is thoroughly described below, with all the details and explanations you need to successfully jump into leveraging affiliate marketing for your brand or product.
AI, Chatbots, Blockchain, self-driving cars, cloud-computing... You have probably heard of all of those, right? Do these terms represent trend or a hype? What is the actual difference between those two words? And are they important for you, as an entrepreneur who's just getting started? These are probably the questions that jump to your mind when hearing these buzzwords.
There is a HUGE difference between what stays and what doesn't. In other words, not everything will stick and change our behaviour. This is how we can define our keyword, trend: as a change in the behaviour, habits or ways in which things work. It is a constant change. Let me explain trend in a graph, as I am a visual learner and a numbers freak…
On the contrary, hype is something that simply occurs and fades away… without any lasting impact. If I spoke in graphs, hype would look like this:
When the terms are clarified, let us look at the history and point out some of the trends and hypes we, as humans on this earth, have been through…
Presented by Diner's Club, the very first universal credit card came to use and was accepted by some establishments. Had it been just a hype, no one would be using credit cards today… Non-cash payment instruments play a huge role in our lives today – this trend changed our behaviour for good.
Now, imagine a bank not issuing a credit or debit card after opening an account – a business that did not catch the trend. This bank would for sure not survive in today's world…
… and changed the way we travel, transport ourselves and purchase goods. Startups like AirBnB or Uber have shown us there is a new way of ordering a taxi or renting a flat for a few nights. Have classic taxi companies had to react to this change? You bet they have!
You can probably guess where this is heading. There are a plethora of examples of trends that have changed our lives. These are real changes that – if businesses ignored them – could be very harmful...
Here we go. 2019 and podcasts, home voice assistants, voice search, voice order and – you nailed it – everything that has something to do with voice is slowly changing the way we behave. Is this something you should keep an eye on? I believe so. Is this something that is about to change / threaten / boost your business? That truly depends on your business industry and approach.
On the contrary, hype can calmly be ignored (or shortly leveraged). Do you remember the Bitcoin bubble in late 2017?
If not, let me briefly explain. Bitcoin is a cryptocurrency that was invented in January 2009 by Satoshi Nakamoto. Its price has been slowly rising since then, and in 2017, one Bitcoin was worth around 20,000 USD. With no real value behind it! In other words, so much money was invested in this currency that the price rose rapidly. An easy economic rule: when the demand rises (while the offer is limited), the price goes up. But what is crucial, is the value behind it. There was no value at all. And in January 2018...BOOM!
Identifying hype and trend can be crucial for the survival of your business. But no one really tells you how to get started. Well… saying that there is a manual would mean there is a way to predict the future.
But there are some ways to prepare yourself. As Gartner puts it: “Three key factors will ultimately enable you to identify the potential impact of a particular technology trend on people, business, IT and the technology market:
Yes, you have to know your business and industry perfectly in order to answer those questions. If you decide to simply ignore everything that goes around you, you may get kicked out of business soon… But if you learn, build on your knowledge and keep an eye on the current trends & hypes (as you may not recognize them at the beginning), your chances will rise.
Build on your knowledge. Do not pay attention to what does not affect your business, but be aware of something that does…
We at groost.com are leveraging online advertising for small businesses, which has shown to be a strong trend that is here to change many industries. In 2018, for the very first time, 50 % of the world's population was online. Never before has the percentage of people with access to the internet been so high. And guess what… The number is rising. Is this a trend or a hype? You are now able to answer the question for yourself.
Are you up to date with what's on trend for 2019? Check the Gartner's research here: https://www.gartner.com/smarterwithgartner/5-trends-appear-on-the-gartner-hype-cycle-for-emerging-technologies-2019
You, as an SMB owner, have a bunch of daily sales and marketing tasks you are probably facing every day, right? With these tips we will help you save some time.