TikTok analytics tool aims to help marketers evaluate campaigns

Brief:

Media analytics firm Conviva this week introduced TikTok Analytics to help social marketers track their campaigns on the popular viral video app. The firm added TikTok to its "social insights" dashboard that includes Facebook, Instagram, Snapchat, Twitter and YouTube, per an announcement shared with Mobile Marketer.
Conviva's software provides a singular cross-platform view to measure key performance indicators (KPIs) and compare them with benchmarks and baselines. The company claims that its software helps social media managers to spend 80% of their time on data analysis instead of collection.
NASCAR will use Conviva's tools to evaluate the performance of its content on TikTok, the first platform the stock-car racing organization has adopted in more than five years, Chris Littman, director of social media strategy at NASCAR, said in the announcement.

Insight:

As brands commit their mobile marketing efforts to TikTok, cross-platform measurement becomes more important to compare the social video app with more established rivals. TikTok has an advertiser dashboard to help evaluate engagement with campaigns, along with the public data on video views, likes, followers and user-generated videos for branded hashtag challenges. It also has tools that are specific to software developers that are seeking to drive app installs, including integrations with third-party vendors such as Appsflyer, Adjust, Kochava, Tune, F.O.X, Party, Singular, Tenjin, Branch, AppMetrica, Adbrix and myTracker.

Conviva is introducing its TikTok analytics tools as the social video platform prepares for its first appearance at the NewFronts, the Interactive Advertising Bureau's yearly series of presentations from digital media companies. TikTok will showcase its mobile video platform on June 25, giving media buyers a chance to learn more about its power to engage audiences. Unlike other social media platforms that emphasize content from accounts that people follow, TikTok's algorithms identify and highlight videos that are most likely to go viral.

TikTok's parent company ByteDance has undertaken a significant effort to expand its reach and grow its advertising business. The company this month named Kevin Mayer, former head of Disney's recently launched video streaming service, as its new CEO to oversee its global expansion. ByteDance is one of the world's most valuable private companies, with a recently revised value of more than $100 billion, and has significant growth potential in lucrative ad markets like the U.S. Brands including Chipotle Mexican Grill, E.l.f. Cosmetics, the NFL, Ralph Lauren, Walmart and Warner Bros. have adopted TikTok in recent campaigns.

Various studies have estimated the size and demographic makeup of TikTok's U.S. audience, which largely consists of teens with limited spending power. To boost its appeal among advertisers, TikTok will have to maintain audience loyalty as those viewers reach adulthood and expand its range of content to reach more viewers. TikTok this year will boost its U.S. user base 22% to 45.4 million as its growth rate slows from the 98% jump of 2019, eMarketer forecast in March. The researcher estimated that TikTok will reach 60.3 million U.S. consumers, or about 27% of social network users, by 2024. TikTok's downloads almost doubled to 112.9 million in February from a year earlier, bringing the lifetime total to 1.9 billion, per app analytics firm Sensor Tower.