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TikTok makes foray into business realm

Adrian Flores
Adrian Flores
29 June 2020 1 minute readShare

Video-sharing social media app TikTok has announced it has moved into the business marketing space, only weeks after establishing an office in Australia.

Called TikTok For Business, the service is designed to give brands and marketers the tools to “meaningfully engage with the TikTok community”.

The announcement comes as TikTok opened an Australian office earlier in June to be led by former Google executive Lee Hunter.

Speaking about the launch, TikTok managing director for global business marketing Katie Puris said the service sets out to embrace the creative, positive and real moments that make its community so special.

“Brands have taken notice that being yourself is good for business, and we aim to continue providing a platform so they can build a meaningful presence,” Ms Puris said.

“We champion authenticity, creativity and expressiveness because it’s who our users are and how they stand out.”

Recent research has revealed that Australians are increasingly turning to social media to earn a living.

Some businesspeople, such as Fotios Tsiouklas and Alan Gokoglu, have planned on opening a social media agency for TikTok users.

“A few months ago, we predicted that TikTok would become the sensation that it has, so we bought the domain name TikToks.com. We’ve since received massive offers to purchase the domain name, but we think we could make more money on our own,” Mr Tsiouklas said.

Earlier this year, TikTok was ranked seventh globally in terms of the most used social media platforms. Facebook, YouTube and WhatsApp were the most used platforms in that order.

In Australia and New Zealand, there are 1.4 million monthly active users driving 1.6 billion video views every month, according to WeAreSocial.

TikTok has been particularly popular with Generation Z, broadly defined as people born from 1995 to 2010, with an estimated 60 per cent of its American users coming from that demographic.

TikTok makes foray into business realm
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Adrian Flores
Adrian Flores

Adrian Flores is the deputy editor of MyBusiness. Before that, he was the deputy editor for SMSF Adviser as well as features editor for ifa (Independent Financial Adviser), InvestorDaily, Risk Adviser, Fintech Business and Adviser Innovation.

You can email Adrian at [email protected].

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