TikTok Reveals New Insights into 'Community Commerce',
TikTok's influence is growing by the day, with a billion users and climbing, and with the holiday season fast approaching, many marketers are looking at how they can leverage the platform's reach to maximize their results over the period. While TikTok doesn't have as many ad possibilities as other platforms, it does have an impact on user behavior and purchasing decisions. This is the subject of a new analysis released by TikTok in collaboration with WARC and Publicis Groupe, which examines the concept of 'community commerce,' which TikTok claims are key to its marketing appeal.
You may read the entire 37-page guide here, but we'll focus on a few crucial points in this piece.
To begin, TikTok explains how ‘Community Commerce' works:
Community commerce refers to the idea of engaging, interesting content that also happens to showcase brands. The TikTok platform has been taken over by creator-driven, word-of-mouth marketing, which introduces new potential for social content creation that is more real to its surroundings.
To put it another way, TikTok's branded content, which is generated in collaboration with artists and then shared with the broader in-app community, can assist to strengthen ties and promote your company as a more likable and desirable offering to TikTok users. Which isn't always simple to get right, especially because creativity is the key. However, by collaborating with TikTok producers who are familiar with the platform, the community commerce method can yield big rewards, as the report's data shows.
The researchers conducted a poll of 2,230 customers across 11 markets for the report, as you can see here, to gain more insight into the role that social networks now play in their product discovery and purchasing processes. As this data shows, social platforms play a large role in this, and customers are increasingly willing to buy directly from social platforms, which is another significant shift for the industry. That's why every platform is now seeking to embrace in-stream purchase, with the pandemic-driven expansion of eCommerce also playing a crucial part in pushing more in-stream buying behavior and opening up huge new prospects.
Live-streaming commerce is also becoming more popular:
This is why, in response to these key trends, more social networks are looking to add more eCommerce and live-stream shopping opportunities. TikTok, in particular, is embracing these changes with new in-stream shopping tools and live-stream retail trials to capitalize on the current shifts. Each component is essential to TikTok's 'Community Commerce' model, allowing for easier discovery and action directly from video clips, as well as ways for creators to better monetize their work and TikTok to increase revenue production.
The research also goes into detail on TikTok buying patterns, including the most effective in-app strategies for various verticals. It also examines how user perceptions of producers are evolving, as well as what users want to see from influencer videos.
There's a lot of interesting and useful information here, so have a look if you're interested in learning more about the social commerce trend.