As the fastest-growing social media platform of all time, TikTok has become a front-runner in the marketing industry with over 1 billion monthly users. The short-form video platform has taken the world by storm, giving content creators and brands the ability to go viral in a matter of minutes.
Since the Covid-19 pandemic began, consumers have become more skeptical, no longer entranced by sugar-coated, perfectly polished advertisements, but by authenticity, realness, and human connection. As we enter this age of authentic marketing, it is crucial to market brands in a way that feels relatable and sincere to your target audience.
TikTok has been able to capitalize on this consumer need – branding TikTok For Business as a place where brands can unleash their creative side in a “fully immersive, no judgment world, where there’s an audience for every voice.” Through TikTok’s unique algorithm, brands utilizing TikTok have been able to build brand awareness and customer trust through influencer marketing and user-generated content, making higher engagement on videos easier than ever before.
TikTok has been a viral success and has given many brands their claim to fame, but is the platform here to stay? YouTube hopes not and will be putting TikTok to the test by introducing YouTube Shorts – a new way to create and consume short-form videos via YouTube.
TikTok still has a somewhat niche user-base of Gen Z’s and mostly young consumers, with 62% of TikTokers being between the ages of 10-29. While YouTube boasts a vast network of 2 billion consumers of all ages, countries, industries, and niches. Earlier this year, YouTube announced the YouTube Shorts Fund, which will distribute $100 million to content creators throughout 2021 and 2022, with the hope of encouraging creators and consumers to start preferring their platform over TikTok.
While TikTok and YouTube Shorts go head-to-head for the title of the best short-form video platform, marketers can and should reap the benefits of both platforms. LSM has utilized the power of user-generated content on TikTok for one of our clients in the beauty industry, where TikTok’s younger consumers worked towards the brand’s benefit. Other clients, such as B2B companies, can have the same exciting opportunity to grow their brand’s awareness and customer loyalty through user-generated content on YouTube Shorts, which offers an audience that extends much further than Gen Z’s.