Earlier this year, tech-news site The Information claimed that TikTok accounted for around 12% of its parent company ByteDance’s $80bn of revenues in 2022.
That would make TikTok a $9.6bn business, driven by its twin pillars of advertising and users spending money on in-app purchases.
Yesterday TikTok unveiled its latest feature to continue growing the former source of revenue: ‘Search Ads Toggle‘.
It’s a feature that will see TikTok serving ads within its search results to help brands – and yes, we’re about to plunge forcefully into the world of adspeak – “extend the reach of their campaigns to high-intent users who are seeking information relevant to their business, driving incremental engagement and revenue potential”.
Why a toggle though? Well, the new feature is literally that: a toggle that when switched on, automatically turns brands’ existing ad content on TikTok into search ads and serves them against relevant search results.
TikTok claims that 70% of ad groups with the toggle on “see more efficient performance when compared to not, as a result of more efficient conversions coming from search ads”.
Perhaps there’s something here for music marketing campaigns too then…