22 Aug Top TikTok Stats Marketers Should Know in 2023
Summary
If your brand is not using TikTok, we would tell you that you’re missing out. Whether you use TikTok or not, you know that it’s been growing rapidly and that brands have been flocking to the app to reach more customers and increase their revenue. Short-form videos aren’t going anywhere, and TikTok makes it incredibly easy to get started. And a TikTok influencer marketing agency can help you.
The app is easy to use, and they even have TikTok Shop, which can help product sellers increase their revenue. TikTok Shop provides all the tools a brand would need to have success. For brands, this represents an unprecedented opportunity to tap into a dynamic and globally diverse user base.
The platform’s unique algorithm fosters discoverability, allowing even small brands or newly-posted content to reach an engaged audience. Even for brands that don’t have large teams, TikTok doesn’t require extensive editing skills in order to have success. The app is intuitive, and anyone can learn how to use it.
As a marketer, you likely know that in the world of marketing, adaptability is key to staying relevant. With that being said, it’s never too late to consider using TikTok. To help you build a case for it, we’ve gathered 16 TikTok Stats that every marketer should know.
The Largest Engaged Audience is In The United States
The United States has the largest engaged audience on TikTok, with 117 Million Active users, followed by Indonesia, with 113 Million active users. The purchasing power of the US dollar has always been high and competitive among other currencies. Even if you are based in another region, if you sell products internationally, there is a large user base for you on TikTok from the United States. If ever you needed a hint to start using TikTok for your marketing efforts, this would be it.
Many TikTok Users Don’t Have a Facebook Profile
Source: studentbeans
TikTok is a leading platform and primary platform for many brands and social media users. According to research, 40% of TikTok users are not on Facebook. Although Facebook usage remains high globally, this is an indication that many users don’t see the need to use Facebook for business and a clear indication that there is a growing popularity for short authentic video content. We always say that it’s important to diversify your social media presence, but this is a clear indication that you don’t need to be everywhere, and Facebook is certainly not the optimal platform for all brands as it was once believed to be.
TikTok’s Average Engagement Rate in 2023 is Around 10%
Our influencer marketing agency analyzed 10,000 TikTok accounts and calculated the average engagement rate for different followers’ ranges. The average engagement rate for these TikTok accounts was calculated in this way: (likes + comments + shares + saves) / views for the last 30 videos.
You can read more about our findings by checking our dedicated blog post on TikTok Average ER.
TikTok Stats: A Demographic With Purchasing Power
Source: datareportal
32% of TikTok users are between the ages of 25 and 34. There is a frequent misconception among brands who are hesitating to use TikTok that monetary transactions do not take place as a result of seeing content on TikTok. This is false. Gen Z and Millenials both have immense purchasing power, and both are heavy users of the platform. In fact, more than half of TikTok users confirm having made a purchase after seeing content on the platform.
The Most Downloaded APP In The United States
In 2022, TikTok was downloaded 99 Million times in the United States alone. This was followed by Instagram, with 72 Million downloads between iOS and Google Play. This is 99 Million additional potential clients for brands who use TikTok for business. No matter the niche or industry, brands can find their audience on TikTok.
TikTok Generated 11 Billion Dollars in Revenue in 2022
Source: fourweekmba
As a marketer, knowing the ins and outs of a platform can help, but what can also help is understanding the value of a platform. In 2022, TikTok generated 11 Billion Dollars in revenue compared to 4.6 Billion the previous year. When a brand can achieve more than double its revenue year-over-year, that’s a clear indication that they are meeting the needs of their users.
TikTok Users Spend on Average 95 Minutes per Day On The Platform
95 Minutes…think of the impact that this can have on your brand? 95 minutes is enough time to help buyers through various stages of their journey. If your brand uses a strategy such as Influencer Marketing collaborations and uses TikTok Shop, a lot can happen in those 95 minutes, including purchases.
Only 18% of Marketers Are Using TikTok
You would think that with the number of users globally and time spent in the app that more marketers would be using TikTok, but this is not the case. It’s surprising to see that on average about 18% of marketers use TikTok. The good news is that this means many brands have yet to discover the power of TikTok, and as a marketer, this can serve as the little nudge you need to put a plan in place and start using the app.
More Than Half of TikTok Users Have Made a Purchase After Seeing a Product on The App
55% of TikTok users confirm having made a purchase after seeing a product on the app. We all know that in most cases, purchasing decisions are made over the course of your audience seeing your content several times. Since TikTok makes it easy to create content in-app, even brands who are just getting started on TikTok can benefit from increased sales with a good strategy in place and consistency.
4 out of 5 TikTok Users Say That The Platform is Entertaining
Entertaining content keeps users engaged and can aid in viewer retention efforts. When thinking of what platforms to use for your marketing efforts, it’s important to consider these factors. Since 4 out of 5 TikTok users report finding the platform entertaining, we think it’s the perfect platform for marketing efforts, including Influencer Marketing.
90% of TikTok Users Say The Platform Makes Them Happy
In addition to finding the platform entertaining, TikTok makes users happy. With that being said, as more and more brands compete for attention across all social media platforms, it’s important to create a positive experience for users. Given that 90% of TikTok users say that the platform makes them happy. This gives us yet one more reason that we would encourage brands to consider using TikTik.
TikTok Has a Potential Ad Reach of Over 945 Million
In addition to being known for generous organic reach, imagine expanding your reach opportunities with ads. TikTok ads have a potential reach of over 945 Million. When you combine paid efforts on TikTok with your organic efforts, you create a recipe for success.
Cost-Effective Advertising
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Brands are always looking for cost-effective ways to reach more customers. Organic marketing on TikTok is incredibly effective, especially with Influencer marketing collaborations, but as we know, we can’t rely solely on organic marketing. According to Research, advertising on TikTok tends to be more cost-effective than on other platforms. This is a win-win for brands who are looking to reduce their ad spend or stretch the value of their ad campaigns.
Half of TikTok Users Who Have Watched a TikTok Live Have Made Purchased After the Event
Source: TikTok
Half of TikTok users who watch Live videos have made a purchase. Let that sink in, this means that leveraging tools like TikTok Shop, influencer collaborations or simply going LIVE on a regular basis can have a significant impact on revenue-generating activities for your brand.
Influencing Back To School Purchases
Source: TikTok
81% of TikTok users who made a back to school purchase said the platform played a role in purchases. This is a great indication that not only TikTok can be used for a brand’s evergreen marketing efforts, but also for seasonal sales content. You can use TikTok to create fun back-to-school content by combining your offers and TikTok trends. Simply add your own spin to trending content to drive awareness, and voila!
Increased Reach For Brands
TikTok users are 2.3 times more likely to create a post and tag a brand after a purchase. How often have you discussed during a marketing meeting the need to find solutions to drive more testimonials and user-generated content? The fact that TikTok users are more likely to do so organically makes it easy for brands to establish a strategy and leverage this content.
User-generated content and reviews are some of the best authoritative types of content. They make it easier for potential buyers to make their final decisions and impact your sales positively.
There you have it, 15 TikTok stats that are a must-know as a marketer, and we think that these stats represent fifteen reasons you should consider using TikTok for your marketing efforts. It’s never too late to get started on a new platform, and if you’d like to discuss TikTok for your brand, we’d love to chat.