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A possible TikTok ban is looming in the US
After the app was banned on government equipment and some college campuses, the Biden administration threatened a nationwide ban if ByteDance, the Chinese company that owns TikTok, did not sell its stake in the platform.
If the app gets banned, it could have major ramifications for marketers who have invested heavily in the platform over the last three years.
Although overall social ad spend is trending downward due to economic uncertainty, TikTok saw 20% increase in ad spend During the first three quarters of 2022 some agencies reported that 25% of their social spend is dedicated to TikTok ads alone.
While many companies are continuing to invest advertising dollars in more established platforms, TikTok has untapped potential to reach new audiences that aren’t on other platforms. TikTok to have 850 million global users in January 2023, though 40% of TikTok users not on facebookAnd 63% are not on Twitter.
Some agencies and brands are scaling back their TikTok ad spend to see how things shake out, while others are continuing to invest in expanding the platform’s reach while they still can.
Meanwhile, TikTok is trying reduce worries Number of advertisers to keep ad dollars flowing.
It’s worth noting that ad reach isn’t the only concern when it comes to the TikTok ban.
The app has been useful for organic marketing plays and viral moments, both of which can be limited if marketers are relying only on platforms like Instagram and Facebook that limit organic reach to an account’s followers.
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