TikTok has officially launched TikTok business, a new brand and platform to provide marketing solutions for its users.
The new platform will include access to ad formats, including its marque product, Topview, which is the first video that appears when you open TikTok. Other products include brand takeovers, hashtag challenges, in-feed videos and branded effects.
Brand takeovers will entail 3-5 second ads, either a video or an image while in-feed videos will have up to 60 seconds in length and can be played with sound on.
Hashtag challenges allow brands to create a hashtag and invite TikTok users to create content around it.
Hashtag plus will include a shopping feature that will be added on the Hashtag challenges
Branded Effects will allow brands to insert themselves directly into the content creation experience. The brand can add their product inot a video in 2D,3D or now AR format in the foreground or background of the video. They can then be combined with Hashtag challenges to boost engagement.
The AR format effect, “Brand Scan” will be launched alongside the official TikTok for business. The rest of the marketing products were already available on Tiktok.
The difference is that the new TikTok for business will organize them under one roof. The platform also provides a place where newer products can be introduced and added as they progress.
The company is also launching an e-learning centre where marketers can learn about TikTok and its ad offerings. They will be able to access product guides, resources and creative ideas to put together successful campaigns and learn about the branded effects partner program.
TikTok has not publicly placed its pricing for the ad tools and solutions. The company says that pricing will be based on what brands want to achieve as well as the scope of its campaign.
Some details provided on the website include a $50 minimum on all budgets whether a daily campaign or for the total campaign. According to Tech crunch, Digiday reported that TikTok’s ad rates on CPM basis were cheaper compared to Facebook, despite the economic recession.
TikTok for Business will put the platform on the same calibre as other Social media platforms such as Facebook, Twitter, Instagram and Snapchat, which provide marketing solutions for brands.
“With the launch of TikTok For Business, we set out to embrace the creative, positive, and real moments that make our community so special with solutions for businesses to connect and grow with our wonderfully expressive community,” said TikTok’s Managing Director for Global Business Marketing, Katie Puris, in an announcement.
“As we continue to build a platform where brands bring immense value to the user experience, we’re excited to continue investing in solutions that give brands a platform to inspire others, be discovered, and meaningfully connect with the TikTok Community,” she added.
TikTok considers itself as a place where trends and cultures are created and shared globally, with the ability to go viral in just a few hours.