TikTok. Love it or hate it, it’s quickly becoming one of the world’s most popular apps. As one of the only short-form mobile video platforms, it directly contributes to the current trend of short, snappy content. With people spending more time online now than ever before, it pays for homebuilders to understand what’s got people’s attention.
Who’s the audience? As with any new social media platform, the earliest adopters skew young. Right now TikTok is called the defining social media app of Gen Z, and 60% of the app’s monthly active users in the U.S. are 16- to 24-year-olds. While millennials’ and baby boomers’ current preferences are for other social media apps, their TikTok usage is growing. As for marketers, only 4% of U.S. social media marketers are participating here so far.
What brands are using TikTok? At the moment, B2C marketers are mostly using the platform to target younger generations to advertise their brand. For example, The Washington Post turned to TikTok in 2019 to make a 142-year-old newspaper relevant to Gen Z, and garnered over 280,000 followers in a matter of months. Other popular brands like the NBA use TikTok as another platform to share video content. As TikTok continues to diversify its mobile-first campaigns and allow lead generation, more marketers are going to start incorporating the app into their lineup.
How can homebuilder marketers take advantage? While the average TikTok user doesn’t overlap much with a typical homebuilder’s audience today, it’s likely that older users also will adopt the platform over time. The short, casual video that people are responding to on TikTok is gaining popularity, and also showing up on other channels. Google, for instance, is making sounds about getting into the space with its YouTube Shorts by the end of 2020. So, even outside of TikTok, this is a good time to find ways to incorporate short, casual video that shows off your model homes, new home features, community lifestyle, design studio and even your social distancing protocols.
Depending on your market, you may want to consider partnering with micro-influencers who are leveraging TikTok. One example of a Realtor® using the platform to reach millennial buyers is Chastin Miles.
Does TikTok matter today? In March 2020, TikTok had 104 million downloads – a 46% increase from this same time last year. With more and more people at home, they are searching for ways to stay entertained and feel connected, many of them turning to platforms like TikTok.
Until the metrics prove out for your audience, and TikTok’s advertising approach has a little more time to evolve, it may not be where you want to put much of your time or money. Though, in the meantime, people are responding to this fast, fun approach to short video content, so look for the opportunities to make that work for your brand.
