TikTok To Host Occasion For SMBs

TikTok is committed to getting more involved in the small and medium-sized business (SMB) world, CNBC reported.

The effort includes an event that CNBC says will be held to help businesses get used to using the platform, learn about the developers, and dispel “myths and misconceptions.”

The event is likely to empower TikTok’s advertising roster to compete with bigger competitors like Facebook and Google who have been allowing SMBs to buy direct for years. Facebook said that in the second quarter of last year, the top 100 largest advertisers accounted for only 16 percent of revenue, and most advertising revenue came from millions of small advertisers who used the service, CNBC reported.

So far, TikTok has gained a foothold with advertisers, according to CNBC, with Dunkin ‘, DSW, Pepsi, Aldo, and others signing up.

“Small businesses are the soul of our communities, and we are determined to help them make a comeback after a challenging year,” TikTok said, according to CNBC, adding that the event, titled Ready Set Grow, would “help small businesses.” Owners across the country are seeing the magic behind TikTok and are exploring ways to use our platform to reach new customers so they can thrive. “

The event is promoting itself as an opportunity for companies to learn “to move fluently from TikTok to TikTok on a day of empowerment,” reported CNBC.

TikTok announced in its January earnings figures that operating income rose to $ 7 billion, up from under $ 4 billion last year. The surge came despite former President Donald Trump’s attempts to ban the social media app over the past year due to security concerns.

TikTok’s Hong Kong-based parent company ByteDance had sales of approximately $ 35 billion in 2020. ByteDance is valued at around $ 180 billion.

TikTok is currently planning an IPO in Hong Kong.



About the study: The Retrospective Study of Shopping On Vacation: Insights into Merchants for 2021 and Beyond, a collaboration between PYMNTS and PayPal, examines consumer shopping practices and preferences during the 2020 holiday season and what these mean for merchants now and for the upcoming holiday seasons. The report is based on a census among 2,070 US consumers.

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