With more people online than ever, now is the time to be expanding your digital advertising strategy. With new platforms recently ramping up their advertising options, there are more ways to expand audiences than ever before.
Being a newer addition to the social media world, TikTok has been selective with who they allow to advertise on their platform. Recently, they have opened their platform to all companies, and with its rising popularity it is a ripe audience with adoption growing like crazy.
Having previously been primarily been an audience made up of Gen Z, advertisers on TikTok had a select audience to cater to. With more people at home and online, the demographics have started to shift and more millennials have joined the platform. The adoption by users age 25-44 has increased 8.2% since January.
With other social media platform popularity waning with the younger demographic this is one platform that is not going anywhere anytime soon and is an opportunity to serve ads to an audience that may be missed by advertising on other previously used platforms.
There a few things that still need to be worked out, such as the granularity at which advertisers can target so they can hone in on a specific audience within their target demographics. Cost has also been increasing, which is to be expected with the increase in users, but it raises the question of whether the spend is justified given the lack of granular targeting. This is something that will need to be determined on a company-by-company basis but even with less specific targeting the brand awareness and recognition for companies could prove invaluable.
With people at home more, DIY is on the rise as well as baking, cooking, etc. This means more and more people are on Pinterest looking at options for things to bake or cook, and at-home projects to do. This presents an opportunity to get in front of an audience that wouldn’t normally be online as much as they are currently.
Now is an ideal time to get ads running on Pinterest with more traffic than ever on the site. The one downside to Pinterest is that ad targeting options are more limited than other platforms, but they are easy to implement and provide an unparalleled opportunity for brand awareness.
Pinterest also comes fairly inexpensively with an average cost of $5-$7 per thousand users (CPM), meaning $1,000 in ad spend reach would be close to 200,000 people. A small investment could get your brand in front of an audience that may not normally see your ads if they don’t use other platforms.
After Facebook and Instagram, the next platform that advertisers usually think of is Snapchat. This is the cheapest of the platforms typically, and has the most specific targeting, but with the demographics changing and user adoption waning, it is proving to be a more niche audience. With new platforms like TikTok gaining popularity among Gen Z, there has been indication that the usage of Snapchat has become less in recent months.
With the low cost and specific targeting options, Snapchat is still worth the advertising dollars to be able to hone in on a niche audience of users.
What does it all mean?
With the shift in millennial audience to TikTok, it’s a platform worth looking at as a next option to look into for digital advertising efforts. It’s a newer platform that recently opened up advertising globally to all companies, providing an opportunity to get in front of a potentially new audience early. Brand awareness and recognition is critical for any brand, with more people online right now than ever, these platforms are an invaluable way to gain both.
If you want help with your online campaigns, contact Anvil, and we’ll get back to you with any questions you might have.