The exponential rise of social media platforms has altered the way we make purchase decisions, turning away from traditional shopping routes. We now follow trends driven by viral sensations, online influencers, and catchy soundtracks, mostly on popular platforms like TikTok.
The good old phrase 'TikTok made me buy it'. This term used to be an exciting slogan signifying the unique power TikTok had in shaping purchasing decisions and making products go viral overnight.
However, the landscape has evolved since TikTok’s explosive rise in popularity. According to statistics, TikTok user engagement has seen a slight decrease, from 52 minutes average usage per day in 2020 to 46 minutes in 2023.
Looking back, TikTok grew incredibly popular for its ability to combine entertainment and simplicity in short video content. It gave birth to numerous trends - from dance challenges and lip-sync battles to do-it-yourself (DIY) ideas and product reviews. Before long, brands realized TikTok’s untapped potential for marketing and promoting products.
A distinct edge that TikTok possesses is its potent 'viral' ability. When a user records a short video featuring a product and it gets millions of views, this inevitably translates to considerable product visibility. This instant product awareness boosts sales. Numerous beauty products, cleaning items, kitchen gadgets, books, clothing, etc., enjoyed remarkable success due to TikTok publicity.
Simultaneously, user-generated content is also evolving. There's an ever-increasing focus on authenticity and user reviews over high-end advertisements. More users value real-life opinions from people they relate to on TikTok, increasing the platform's influence on consumer choices.
So, as we look at the trends of 2024, is TikTok still prompting purchases? Is it maintaining its standing as an influential marketing platform?
For starters, TikTok has successfully survived the typical lifespan of a social media platform, continuously growing and evolving over the years. More importantly, brands in 2024 have wholly embraced TikTok marketing.
Several leading companies have employed strategies such as TikTok influencer partnerships, hashtag challenges, and even branded TikTok filters to ensure they ride the wave of viral content.
A major change that seems to be significantly shaping consumer behavior is the evolution of TikTok shopping. Since the introduction of shoppable video content, in-video shopping links have only increased the power of 'TikTok made me buy it.'
More and more brands are seamlessly integrating their products into viral videos, creating an effortless shopping experience for users. Users no longer need to search for a product they liked in a TikTok video - it’s right there, just a click away!
Ask the Experts
So, to answer our original question: Does 'TikTok made me buy it' still rings true for 2024? or did brands miss their chance for their 'viral' moment.
We reached out to social media experts for their opinion on the future of TikTok in 2024 and any tips they can share:
"The hype is definitely still very much alive and well. TikTok is the environment where culture is negotiated and constructed at scale, and perhaps in the most nuanced way. The algorithm curates feeds with hyper-targeted content to deliver the cultural product most associated to who we are. That’s super powerful. And there’s still opportunity for marketers to get involved. They have to identify the subcultures that are most congruent with the brand’s ideology and activate these collectives based their shared worldview," said Collin.
Marcus Collin, Marketing professor at the Ross School of Business, expert on culture and contagion, and Beyonce's digital ad strategist for over 10 years.
"While TikTok has been a very powerful tool for small brands and new entrants, for large established global brands that I work with, TikTok was at best, an experiment. While some brands made a splash on TikTok, their media allocation to that platform was a rounding error compared to what they spent on other social platforms," said Rybchin.
"Chasing after the latest hot social trend or jumping onto the newest platform can yield some short-term benefits but ultimately does not set up a company for sustainable growth. I assume you remember people jumping onto Vine and Google+ and, most recently, Clubhouse. Some brands saw an impact from those platforms but then had to pivot quickly when the value was no longer there."
"As a new platform, everyone jumped on, but without a strategy, it was primarily experimental tactics. The natural inclination is to revert to the things you know. Therefore, many initial TikTok campaigns never had the time to marinate long enough to show traction. Marketers are impatient and are quick to walk away."
"All of this is a very long way of answering your question by saying no… brands are not giving up on TikTok but are merely fickle in their loyalty to social platforms. If data shows that TikTok works for some brands, then you will see brands rush back. Marketing is a zero-sum game. Every dollar allocated to TikTok is a dollar taken from another platform. In the short term, marketers threw some dollars at TikTok as a bright, shiny object. The onus is on TikTok to make the case that it is more deserving of marketing dollars than other platforms."
Iliya Rybchin, Partner at Elixirr Consulting, a global management consulting firm. Rybchin works with C-suite executives across several industries, helping solve critical strategic challenges.
Lupilin added: "Brands have not missed their opportunity, but the landscape has changed. Brands need to be putting ad spend behind the campaigns that they’re doing with creators on TikTok. Brand deals aren’t getting as much traction organically without the ad spend. As a manager, I highly recommend saving some budget to boost your creators content. I also recommend including the product in the creators TikTok shop & link in bio"
Courtney Bagby Lupilin, CEO & founder of social media and influencer management firm Little Red Management, clients include reality TV stars from shows on ABC, CBS, MTV and Netflix including The Bachelor Franchise, Big Brother, The Challenge, Love is Blind, and the Circle.
"TikTok was in its insane growth phase several years ago. Now, the platform is more saturated, so there’s more accounts and content competing against you. It’s natural that the engagement is going to drop simply based on math alone. However, you can still be an early adopter of new tools and trends on TikTok. Right now that new tool is TikTok Shop, so make sure you jump on that sooner rather than later!" said Petrey.
Cassie Petrey, CEO and co-founder of celebrity social media marketing firm Crowd Surf
Dimond added: "Brands still have a lot of room to shine if they're adaptable. To sell your products effectively on TikTok, it's crucial to focus on genuine storytelling rather than pushy sales pitches. Try weaving your products naturally into stories or situations that resonate with viewers. Keep an eye on what's trending and get in on the challenges and formats that are capturing attention—it's a great way to get noticed. Encourage your audience to create content around your products, collaborate with TikTok influencers, and keep up a consistent posting schedule. Also, don't forget to use TikTok's tools to guide viewers to your product page."
Robin Dimond, CEO and Founder at Fifth & Cor
