If you browse the internet, most likely you've seen or heard of this app. This app has been going gangbusters on the iOS AppStore and android during the first quarter of this year, coming in 3rd for volume of downloads, beating out Facebook and Instagram. Known in China as Douyin, this startup's net worth is estimated at 75 billion dollars. As a small business owner, you may be thinking of utilizing the amazing reach of this resource, but before you do, there are some things you may want to know first.
This media platform was created for playing short-form looping videos, normally within the range of 3 - 60 seconds, depending on what you're displaying, and it's main audience age group is 11 - 20 years old, even younger than the Snapchat demographic. The users consider it a refuge from Facebook, Instagram, Twitter, etc. An ads department has been formed, though it's currently in the beta stage and offers only one type of advertising, but it's great for brand recognition. The bad news: when different types of advertising become available, set for this summer, a hashtag challenge promotion could cost you $150,000 for a six-day run. The offset? Just like on any other popular social media platform, you can upload your own videos and create a following.
For in-depth information, I'm including links for your perusal.