The Battle Between Platforms
The social media landscape is ever-changing, with TikTok, Instagram, and Facebook being the leading platforms in 2023. These platforms are competing to capture user attention and engagement, and it’s crucial for businesses to stay informed about the latest trends and updates to create effective marketing strategies.
TikTok has taken the social media world by storm in recent years, and its growth shows no signs of slowing down. In 2021, TikTok celebrated a significant milestone of 1 billion active users, making it one of the most popular social media platforms worldwide. Moreover, TikTok users increased by around 18 percent year-over-year, with a majority of its user base comprising younger generations. In fact, TikTok is most popular with Gen Z, with a whopping 60% of its users belonging to this demographic. This impressive growth has catapulted TikTok to become the most downloaded app of 2022, surpassing other popular platforms such as Instagram and Facebook. In contrast, Instagram’s popularity dropped from 80% in 2020 to 68% in 2021, making TikTok a better platform to elevate your business marketing strategy. If you are looking to reach a younger audience and stay ahead of the curve, TikTok may just be the platform for your business.
Businesses must keep up with the evolving social media landscape to make informed decisions about their marketing strategies. While TikTok may be ideal for younger audiences, platforms like Facebook and Instagram still have impressive user bases and engagement rates. A well-rounded strategy considers these platforms and factors to reach a broad audience and achieve business objectives. We have consolidated the performance of the 3 major platforms to help businesses make informed decisions:
Total Active Users
TikTok and Instagram are neck-and-neck in terms of monthly active users, each boasting 1.2 billion users as of 2022. Facebook, on the other hand, remains the social media giant with a whopping 2.9 billion monthly active users, although it is important to note that its user base skews towards an older demographic.
Average Time Spent on Platforms
In terms of average time spent on the platform, Instagram comes out on top with users spending an average of 53 minutes per day scrolling through their feeds. TikTok is a close second, with users spending an average of 48 minutes per day watching and creating short videos. Facebook falls behind with an average of 35 minutes per day, but it’s important to note that the platform’s older user base may contribute to this lower average.
Average Cost Per Click (CPC)
With an average cost per click of around $1.63, TikTok is a more cost-effective option compared to Meta’s (Facebook and Instagram) average cost per click of around $1.84. This means that you can potentially reach a larger audience for less money on TikTok, making it a great option for your business. Additionally, with its younger and highly engaged user base, TikTok offers a unique opportunity to tap into a growing market and build brand awareness in a fun and creative way.
Average Cost Per Impression
When it comes to cost per impression, TikTok once again emerges as a more affordable option compared to Meta’s (Facebook and Instagram) average cost per impression of around $14.20. With an average cost per impression of around $10.5, TikTok offers an opportunity to get your content seen by a large and highly engaged audience at a more affordable price. And with its unique video-based format and growing user base, TikTok presents an exciting opportunity for your business to create engaging and shareable content that can help drive brand awareness and connect with a younger demographic, especially Gen Z.
Choose Your Platform Wisely!
Understanding the audience segment of each social media platform is crucial in choosing the right platform for your business. TikTok has captured the attention of younger generations, with users aged 13-17 and 18-24 making up a large percentage of its user base. Gen Z users flock to TikTok seeking entertainment and inspiration, making it an ideal platform for your business to create fun and engaging content. Instagram, on the other hand, appeals more to Millennials aged 18-24 and 25-34, who use the platform to seek inspiration and adventure. Meanwhile, Facebook’s user base skews towards an older demographic, with users aged 25-34 and Boomers using the platform to stay informed and entertained, famously for live videos.
The Advertisement Formats
Each social media platform provides a variety of unique advertisement formats to reach your target audience. Instagram offers multiple ad formats, including photos, 16:9 videos, and Instagram stories, but at a higher cost. Meanwhile, Facebook has a weaker reach but also offers multiple formats such as photos, videos, and in-messenger ads. In comparison, TikTok’s short video format with clickable links is a highly engaging format that can drive clicks and conversions, making it a better and more effective social media platform for your business. With its highly engaging and shareable video format, TikTok presents a great opportunity for your business to create engaging content and drive conversions, all while maximising your return on investment.
TikTok stands out as the most effective platform for reaching the coveted Gen Z audience. With over 1.2 billion monthly active users, the platform’s audience skews young, making it an ideal destination for your business targeting this demographic. Moreover, TikTok’s one-format ad approach ensures that your message is delivered seamlessly and effectively. As the platform continues to experience promising year-over-year growth, you should consider leveraging TikTok to expand your reach and engage with a young and dynamic audience to stay ahead of the curve.
Want to elevate your marketing strategy effectively by utilising TikTok? Reach us out at hello@epic-dialogue.com or visit our social media (Instagram and LinkedIn).
