TikTok is proceeding to look for ways to grow its business, this time through a new global collaboration with Publicis Groupe, that will give Publicis users first access to TikTok's progressing commerce features as well supplying TikTok with further ideas on how to better serve brands in getting the most out of its platform.
As per TikTok:
"As TikTok's founding commerce agency partner, brands will benefit from unique learning opportunities, insights, and strategic counsel centered around driving product discovery and purchase intent on the platform. Publicis clients will also test TikTok's new commerce products, capabilities and creative solutions."
Publicis Groupe, which operates in more than 100 markets, will give TikTok's emerging business technologies a big boost, and as part of the agreement, Publicis will be capable of providing its clients a spot in a new "Community Commerce Sprint" program:
"[Community Commerce Sprint is] a bespoke incubator program that will prepare brands to create impactful commerce campaigns for TikTok ahead of the holidays. Through this multi-week program, participants will receive access to cross-functional support and coaching on Community Commerce best practices from dedicated TikTok teams."
Numerous brands will be actively pursuing such incentives as a result of TikTok's continued development and surging influence, and Publicis will now be eligible to provide immediate access to TikTok's internal experts to help guide in campaign innovation and implementation.
Furthermore, through these campaigns, Publicis will provide TikTok with valuable insights into client preferences, which will be used to improve TikTok's analytics.
The agreement is comparable to one TikTok revealed with WPP in February, but this one is mainly focused on TikTok's commerce features, such as in-stream product listings, live-stream shopping, and other direct connection choices.
And since monetizing short-form video is difficult, TikTok is interested in developing this aspect as a cornerstone of its monetization tactic. You can't put mid-roll or pre-roll ads in 30-second videos like you can with longer-form video, and without clear revenue generation, TikTok's ability to offer similar remuneration to online video alternatives is limited, which can also lead to even more producers abandoning the platform in pursuit of better options.
However, if TikTok can enable immediate shopping within videos, it will have a more focused direction to revenue generation. It already has the viewership and the influence; all it has to do now is fine-tune its commerce technologies in order to create a more long-term, effective commerce ecosystem that is linked to its biggest stars.
Creating this joint venture is another important step in this direction, and it will almost certainly aid in the improvement of TikTok's commerce services and choices as it moves forward.
Whether you're contemplating your viable alternatives for the festive season, keep tabs on how this turns out, and unless you're a Publicis customer, new possibilities will be arriving soon.