TikTok has taken over online, and every brand should be analyzing the incredible tapestry of consumer insight it offers. Fortunately, a key component of the NetBase Quid suite of products, Rival IQ, offers precisely that, with best-in-class TikTok intel that is driving strategic business decisions. What does it reveal – and why should your brand prioritize monitoring TikTok data analytics? We’re going to break it all down for you here.
Why Brands are Prioritizing TikTok Data Analysis
Since 2020, TikTok usage has skyrocketed. According to Statista, in 2021 there were “approximately 78.7 million users in the United States. This figure is projected to increase by around eight percent year-over-year, reaching 84.9 million users in 2022. TikTok is one of the fastest-growing social media apps in the United States and especially popular with younger digital audiences.”
With those usage stats, why isn’t every brand engaging there? Easy – many brands miss the fact that TikTok is home to a smorgasbord of exceptional, category-defining consumer insight. And this happens because brands view it as a place where a predominantly teen crowd dances, sings, and shares quick life observations and activities that have little to do with brand marketing. And this is where those brands are wrong.
TikTok is much more than a popularity contest for users dreaming of going viral with their posts. It’s a place where product ideas are born, and category newcomers disrupt industries. They do this by identifying and meeting emerging consumer needs – insight that consumers freely discuss. And these are needs that your brand could lean into first the next time around.
It’s also, arguably, the place where influencers are at their most influential.
As Bang Energy has demonstrated, winning the influencer marketing game on TikTok translates to skyrocketing returns. “In 2020, Bang Energy did $780 million in sales, an 80% increase from the previous year, quickly going from unknown brand to well-known meme.” Cast in that light, even earning a participation trophy there wouldn’t be half-bad! How did they do this? A quick search of their #BangEnergy hashtag reveals the absolute army of influencers sharing the drink and garnering billions of views.
And this tactic can work equally well for smaller brands. Even if a brand can’t afford adding JoJo Siwa to its influencer collaboration ranks, there are tens of thousands of influential, niche personalities eager to partner with you and propel your brand to TikTok stardom. And each offers its own unique tribe of engaged followers. The trick – and challenge – is to zero in on the best, most relevant influencers for whatever your brand offers. And to do that, you need to dig into the analytics.
TikTok Data Analytics with Rival IQ
Understanding which influencers to partner with starts with an exploration of the TikTok landscape as it relates to your category. In Rival IQ, brands add their own channels and those of competitors, for quick access to a variety of cross-channel indicators from TikTok and other social channels.
The intel in TikTok, specifically, pulls back the curtain to reveal overarching performance metrics at a glance. And brands use this intel to monitor and outperform the competition.
- Brands can see every like, comment and share in one place along with campaign performance, video views, and more.
- They can also build custom landscapes of competitors for up-to-the-minute leaderboard standings showing who is posting the most, and who is earning the most engagement.
- And they can then use these brand performance and engagement insights and observations to isolate essential voices in the space and vet them for influencer collaborations.
All of this intel can be viewed in customized dashboards complete with automated insights and associated email alerts that keep your brand on-point with your target audience and ahead of your brand’s rivals. In effect, your brand’s Rival IQ experiences a significant boost, as your brand awareness efforts level up and your share of voice is amplified. And any brand can start small with relevant influencers and grow by degrees on TikTok, if not by leaps and bounds when it catches the right audience, at the right time.
Chance successes have happened for brands on TikTok – but there are lottery winners in every realm. The right data analytics intel is required if a brand wants to back winning efforts that consistently hit home runs, connecting each time your brand swings for the fences. Because much like elsewhere online, your efforts must be strategic and targeted or it amounts to random content tossed out into the wind, hoping it hits the right audience in the face. It most likely will not.
Examining TikTok activity as it happens and comparing it as you go against competitors and the previous 90 days, is powerful.
And more specifically, here are some other ‘must have’ TikTok data analytics insight options that every brand needs:
- Hashtag analytics. The ability to analyze your brand’s hashtag performance, while gathering new ideas for hashtags your competitors are using.
- Best times to post. What times and days are your target audiences most active on TikTok? That matters – as to ‘tailored to you’ time zone intel that sorts this out for you.
- TikTok post tagging. Keeping track of the queries that matter most to your brand is crucial – and we make quick work of it with customizable TikTok post tagging. Easily group posts on a certain topic while effortlessly measuring campaign performance.
Ready to get started?
With TikTok’s popularity growing, along with a mounting pile of brand success stories, isn’t it time your brand explored its potential at the very least? Being the first brand in your category to participate on a new channel offers an edge, but even those who feel late to the game are blowing by competitors with data-driven intel powering their efforts. Reach out for a demo and we’ll show you how it’s done!