TikTok Reveals Platform Strategy At Cannes
On Monday, June 20, TikTok hosted the company’s first-ever event at the 2022 Cannes Lions International Festival of Creativity.
Several leaders of the social media platform were on hand to discuss their vision for the company’s future and the challenges it faces.
TikTok executives discussed many topics at the event, which is held annually at a resort on the French Riviera and is considered one of the premiere awards shows for the advertising industry.
These included the addition of shopping functionality, safety challenges, the impact of iOS 14 privacy settings on social media advertising, and the influencer/creator economy.
TikTok intends to gain more advertisers despite privacy restrictions
Blake Chandlee, head of global operations solutions at TikTok, revealed that the platform currently has hundreds of thousands of advertisers — but is targeting millions.
It plans to achieve this by adding new tools to the platform and implementing internally developed software that will report on the quality of ads.
Like other social media sites, TikTok has been looking for new ways to target ads in the wake of Apple giving users the option to limit cross-platform tracking.
According to Ray Kau, Managing Director and Global Head of Monetization Product, Strategy and Operations, the TikTok platform will include more contextual targeting.
In addition, the platform is taking steps to address quality controls and brand safety issues, which in the past has caused some advertisers to be wary of TikTok.
Francis Stones, TikTok’s European head of brand safety, said the platform’s review process now includes more than just images. It also checks sounds, text, and emojis to ensure brands aren’t inadvertently associated with something potentially problematic.
Shopping within the platform will be expanded
TikTok is currently expanding its direct shopping functionality globally, according to Sofia Hernandez, global head of business marketing.
This new feature will allow brands to take advantage of the viral status they can gain from directly user-generated content.
These changes should open up new opportunities for digital marketers by allowing them to target audiences more precisely. Brands and content creators will be able to boost their visibility while worrying less about negative associations, while also gaining a way to generate sales.
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