Today the company TikTok officially introduced a new brand and a platform called “TikTok For Business,” which will serve as a home for all of its brand marketing solutions, both current and future.
Upon launch, the site will provide links to TikTok ad formats like its Marque product, TopView which is the ad that first appears when the TikTok app is launched. Under this TikTok For Business umbrella, other items include brand acquisitions, in-feed images, hashtag challenges, and brand results.
At the same time, TikTok launched an Augmented Reality ( AR) ad, named the Brand Scan, which enables marketers to create immersive product experiences. TikTok has announced new partnerships with Bare Tree Media, Subversive, and Tommy that will help speed up and expand its brand development of 2D and 3D technology.
Alongside the formal launch of TikTok For Business itself, the latest AR influence, “Brand Scan,” is being introduced today. Digiday had previously scooped TikTok ‘s AR ad plans, noting how these would pose a direct challenge to the AR formats supported by Snapchat’s Lens and Word Lenses.
The company is also launching a new e-learning center that will help advertisers learn about TikTok and its advertisement offerings. The center will provide marketing guides, tools, and innovative best practices to help them launch successful campaigns or learn about the partner network for branded results.
The launch of the new platform aims to move TikTok from being an experimental place for marketers to one that requires a seat at the table alongside other social platforms, such as Facebook, Instagram, Twitter, and Snapchat.
TikTok’s revenue had been growing ahead of today’s format debut of its platform for marketers. This January, reports claimed its revenue was on track to skyrocket over 300% by Q4 2020. The Information more recently reported TikTok’s U.S. revenue was expected to hit $500 million this year.
TikTok’s Global Business Marketing managing director, Katie Puris said in an announcement,
“With the launch of TikTok For Business, we set out to embrace the creative, positive, and real moments that make our community so special with solutions for businesses to connect and grow with our wonderfully expressive community.”
“As we continue to build a platform where brands bring immense value to the user experience, we’re excited to continue investing in solutions that give brands a platform to inspire others, be discovered, and meaningfully connect with the TikTok Community.”