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Is TikTok The Next Big Thing? | Ep. #1128

Sep 2, 2019

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In episode #1128, we discuss whether TikTok is the next big thing. Tune in to hear if you should be investing in this social platform.

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[00:25] Today’s topic is whether TikTok is the next big thing.
[00:30] TikTok is a social network that’s very popular in Asia and is climbing in the rankings on App Annie, which does metrics on revenue and other stats.
[00:50] TikTok is on its way to making over $100 million and their valuation is in the billions of dollars.
[01:00] The app does short videos, and people are creating funny content including music videos.
[01:20] Their typical user drops off after 30 days, which is a problem.
[01:34] One of the biggest Chinese tech conglomerates owns it and has put over $1 billion into it.
[01:49] Platforms that aren’t sticky and aren’t retaining users tend to end up as fads.
[01:56] Neil points out that marketers are always wondering if they should adopt the newest social media platform for their business.
[02:05] It’s probably only worth the time and effort if a platform has continued to prove its popularity.
[02:25] Even if your business isn’t using Instagram yet, it’s not too late because you don’t have to be the first to adopt a social media platform.
[02:40] You should wait to leverage a platform until it hits the mainstream and you know it will work for you, and TikTok is not at that level yet.
[02:56] Their user count is growing but they don’t have the reach that Facebook has.
[03:03] With poor user retention, TikTok’s user count will probably stagnate and then start to drop.
[03:30] Neil and Eric don’t think TikTok is the next big thing, but maybe it could be bigger one day.
[03:38] A great social media network to leverage right now is WhatsApp.
[03:49] That’s it for today!
[03:55] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information.