Many big name brands are increasingly looking to social media platform TikTok for a “cut-price” rate on influencer marketing campaigns.
Market analysts have claimed that TikTok has the potential to potentially reach millions of users without brands having to spend a lot of money, according to a report from The Telegraph.
The app has become incredibly popular in multiple regions, racking up over 4m users in the UK alone. TikTok has also been downloaded over a billion times globally.
Brands including Calvin Klein, FIFA, Sony and Coca Cola have all looked to TikTok to run cheaper influencer marketing campaigns, and the app's 500m daily active users aren't something to be overlooked.
“TikTok is substantially more affordable than Instagram. A lot of brands are still learning and understanding TikTok’s potential value, said Social Chain head of influencer marketing Tom Peters, speaking to The Telegraph.
Last year, TikTok was the most downloaded app on the Apple store, beating out the numbers for Facebook, Instagram, and Snapchat.
The app has faced criticism and controversy within the last year, including a record-breaking FTC fine for breaching privacy laws and a ban in India. However, it still has a massive outreach for influencers and big brands looking to reach out to their audiences.