Presenting TikTok statistics every marketer should know!
TikTok, earlier Musical.ly, is the top social media platform when it comes to the time people spend on it every day. But what makes TikTok so popular?
TikTok has been a trailblazer in introducing short video content. Not only that, other TikTok statistics, like how it has risen to be one of the world leaders in a Meta-dominated social media apps’ industry, are incredible!
Brands and businesses love TikTok as it has one of the highest app downloads ever and people are on TikTok all the time. It’s a good place to target your next customer or retarget your older customer with content that’s relatable, engaging, and fun.
If you want to make your marketing game strong, you can’t ignore the power of TikTok. To truly grasp the power TikTok has over businesses and brands, take a look at these incredible TikTok statistics:
Millennials Love TikTok, 2.3x More Likely to Tag Brands
Millennials love TikTok and are 2.3x more likely to tag a brand or create a post. It can be reviewing a product post, a behind-the-scenes, or an unboxing video. Regardless of the content, you’ll find millennials interacting with your brand much more than other networking platforms.
In fact, you’ll find 62% of millennials posting once they interact with funny or entertaining content. If you want to target the largest group on TikTok that has the most purchasing power presently, go for an entertaining brand voice and create funny content.
The short-video format that has become the all hype across social media right now was launched by TikTok. Launched by ByteDance, TikTok came into being as Douyin in 2016.
But it rose to global fame in 2020 with 313.53 million downloads in the first quarter of 2020. That’s the highest number of quarterly records TikTok has generated till date.
In fact, it’s quite a feat because it’s the first non-Meta app to reach 3 billion global downloads, especially at a time, when it was banned in its largest market – India. Furthermore, one needs to factor in its competitor YouTube, which later launched YouTube shorts in 2020.
I think the popularity of TikTok skyrocketed in 2020 because the pandemic confined everyone to their homes, and they sought to entertain themselves with TikTok – watching and creating these short videos.
Q2 of 2020 had 291.99 million downloads, the second-highest downloads ever generated by TikTok in a single quarter. Thereafter, the numbers dwindled between 161.65 – 244.23 million downloads each quarter between Q3 of 2020 to Q4 of 2020.
Starting 2023, the global downloads number are showing a progressive rise. TikTok global downloads opened at 239.29million in Q1 of 2023, went up to 257.93 million in Q2, and are currently at 272.7 in Q3 of 2023.
Please note: 272.7 million downloads (recorded in Q3, 2023) are the third-highest global downloads, TikTok has ever generated from its inception.
People Use TikTok for 1.5 Hours Daily on Average
People are spending the highest time on TikTok every day – they spent a whopping 95 minutes on average in 2022. This is particularly interesting because TikTok continues to be banned in its India since 2020.
That’s because they’re missing out on their largest market that primarily comes from this country, and goes over to Instagram or YouTube or Facebook.
However, that hasn’t really affected TikTok as it went on to have the highest installations in 2020 Q1 – 313.53 M+. That is a big accomplishment considering it doesn’t belong to the Meta family, and is yet leaving it behind in terms of numbers.
As per social media statistics, YouTube has the second spot with 74 minutes spent daily, and Instagram comes third with 51 minutes daily.
29% of TikTok’s global audience opens the app every day. In fact, TikTok sees the second-largest engagement after Instagram, the engagement leader with 39%.
Ad Generated Inquiries
74% of Gen Z Users Will Inquire on an Ad
TikTok is a great place for marketers because it attracts Gen Z’s that interact with your ad content. In fact, according to Material Library 2022’s TikTok Marketing Science Global Shopping Ad Products Study, more than 74% of Gen Z users will ask for more information once they see a dynamic ad.
While marketers (affiliate and paid media ones) affirm that social media ads are a brilliant way to drive brand awareness and conversions, why are TikTok dynamic ads popular? What’s different about them?
Dynamic showcase ads are custom video ads, created in real-time, keeping the target audience in mind. They are personalized, and help marketers show only in-stock products to relevant audiences for effective customer segmentation. This way, they’re targeting or retargeting customers based on a particular behavior or interest.
These days, audiences, especially the up-and-coming Gen Z, can tell which audience is fake or too good to be true. Hence, dynamic ads are a great way for marketers to reach to specific audiences while turning them into customers.
Growing User Base
955.3 Million TikTok Users Projected in 2025
TikTok witnessed its biggest growth at the start of 2020 with the highest quarterly downloads it had ever seen. When we mention total number of uses, 2020 started with 465.7 million TikTok users, which has only increased year-on-year.
Moreover, in 2021, TikTok users increased to 655.9 million and then again to 755 million users a year later in 2022.
In 2023, it stands at 834.3 million users, and it is anticipating a year-on-year increase that’ll bring in 900.7 million users in 2024 and then 955.3 million users in 2025.
TikTok’s Revenue Reached $500 Million in 2020 From US Alone
TikTok has been doing exceptionally well in terms of revenue. How else do you explain TikTok bringing in $205 million more than Meta, Snapchat, and Twitter (now X) combined?
We’re talking about in-app purchases, of course. This Chinese app has been in the limelight for creating a new video experience that has people glued to their screens, and other social media companies replicating the form too soon!
TikTok has been a trailblazer—in both form and revenue—since 2019-2020. A good instance of this is in 2019, TikTok brought in a whopping $200-300 million worldwide, whereas just a year later, it was all set to bring in $500 from the United States alone.
TikTok’s in-app purchases, particularly, have led the way forward. In 2023, Q3, TikTok in-app purchases revenue has been the highest ever record at 680.74 million. It has been a progressive little year-on-year increase since 2021.
It was for the first time in 2021 Q4 the revenue jumped from 407.01 million in Q3 to 606.34 million in Q4.
With the rise of influencer marketing, all social media networks, including TikTok, Instagram, Facebook, X, Pinterest, are offering incentives to reel in influencers. Different social media platforms have adopted different approaches to attract more influencers and quality creators to boost their revenues and engagement.
Pinterest has also released two rounds of applications for the Creator Fund to incentivize creators, and support their efforts. Instagram also has bonuses for reels, IG Creator Incentive Programs, and other monetization tools like Instagram Payouts that reward great content, consistent creativity, and motivate creators to keep creating.
TikTok Users Buy to Boost Their Mood
TikTok Marketing Science Global Retail Path to Purchase (2021) reveals how TikTok users are 1.3x more likely to purchase a product to boost how they are feeling. This is quite an important TikTok stat, especially in comparison to other networking platforms like Instagram or LinkedIn or Facebook.
These are great statistics for an affiliate marketer, or a digital marketer, to look at. This is one of the major reasons why TikTok has gained traction in the past five years.
TikTok’s iOS Revenue
41% of TikTok’s iOS Revenue Comes from the US
The United States is one of the top leading markets for TikTok when it comes to revenue. The fact that its economy generated $39.4 million dollars in 2022 for TikTok is proof enough.
However, I’m not talking about total revenue here. This is just iOS revenue, generated from the Apple App Store.
The next best country for iOS revenue is Saudi Arabia, with $18 million dollars generated in 2022.
Google Play Revenues
TikTok’s Top Google Play Revenues Comes from the US, Germany, and France
Not only is the United States the top iOS revenue generator for TikTok, it’s also the top revenue generator when it comes to purchases made through Google Play Store in 2022. In fact, the US helped TikTok generate $41 million dollars in 2022, thereby making for 34% of total Google Play revenues.
Germany is in the second position with almost $18 million dollars from Google Play revenues for TikTok, whereas France takes the third spot with $6.81 million dollars for TikTok.
Highest Minimum Time Spent
People Spend 197.8 Million Hours on TikTok
I’ve already discussed how TikTok logs in the highest minimum time spent in comparison to other social media platforms. It keeps the record intact by also being the top contender for time spent on the app by all users in a day.
Currently, according to the Wall Street Journal, TikTok users spend 197.8 million hours every day on the platform. You’ll be able to understand how big the figure is, when compared to 17.6 million hours spent on Instagram every day. See the massive difference?
That explains why TikTok is the top social media platform, that reels in more engagement than all Meta platforms combined. It’s no wonder that social CRM is now of such prime importance.
Preference to Brand Content
Millennial TikTok Users Love Brand Content that’s Fun
Millennials, born between 1981 and 1996, are currently in their late 20s or 30s. They are the largest consumers of most social media networking ad solutions, affiliate products, and more. Hence, marketers want to target millennials specifically to sell faster.
TikTok is the ideal platform to target millennials. That’s because 1 out of 2 millennials on the platform view the platform as entertaining. That’s a big plus for brands looking to build discoverability to their sites, or increase engagement.
Now, what sort of content should brands create on TikTok to attract higher millennials, as they have the most purchasing power currently? 40% of millennial users on TikTok who’re on fashion journeys prefer brand content that’s entertaining and fun and have the willingness to pay!
US’ Largest Audience
The US Has the Largest TikTok Audience
I’ve already mentioned how the US contributes the highest revenues (generated through Apple App Store & Google Play Store). So, it only makes sense that the country has the largest audience for TikTok, with 143 million users in October 2023.
Next is Indonesia, a small island country in Asia, which has a whopping 106 million TikTok users. This is especially interesting, considering India, from Asia, used to be the top market for TikTok until it was banned in 2020 in the country following political disputes.
Brazil is in the third position with 95 million users loving TikToks in the country.
In fact, it also has a Translation Assistant that can help you translate your ad creative text to over 50 languages to reach out to a wider set of audience.
However, Smart Text isn’t available for use in the US (TikTok’s top market) and Canada. The main languages Smart Text creates content in include English, German, Russian, France, and Vietnamese and then there are other languages that can be translated into.
Everyone Loves TikTok
Who Uses TikTok More? Men or Women?
There’s no clear answer. Everyone loves TikTok. However, in certain cases, women are leading the numbers whereas in the others, men are. So, we guess it’s a close call!
However, when we move on to the next age group between 25 – 34 years of age, men are dominating TikTok with 16.6% whereas women are at 16.3%.
In both these cases, the differences are slight for this October 2023 report.
More Entertaining Ads
More Entertaining TikTok Ads Have 25% Higher Brand Love
TikTok Marketing Science Global Entertaining Ads Study 2022 reveals that millennials show 25% higher brand love to TikTok ads that are more entertaining. Millennials find the platform entertaining and fun, and that’s why TikTok happens to be the most popular platform among that age group.
It’s also an important TikTok stat for marketers, as they can target millennials with entertaining ads and drive them to purchase more products. That’s because millennials are in their late 20s and 30s currently and have the most purchasing power to fuel impulsive buys, technological gadgets, and popular products on TikTok.
Power of Personal Accounts
Personal Accounts Generate Higher Views on TikTok
On TikTok, business accounts are not so popular, especially, in comparison to personal accounts. Personal accounts generate higher number of views on the platform.
Moreover, personal accounts on TikTok generate an average of 30,100 views in comparison to 17,500 views from business accounts. That’s why businesses should collaborate with influencers and creators to showcase their products. They can expect better results from these creator collaborations than business accounts directly selling or posting.
Best Place to Shop
Gen Z Are 1.8 More Likely to Shop on TikTok
Gen Z, the up-and-coming generation with all their cool lingoes and purchasing power, are 1.8x more likely to be shopping on TikTok rather than direct marketplaces. That’s because their purchasing decisions are influenced by their communities – what other people around them are buying, what’s trending on TikTok or Instagram.
In fact, most Gen Z discover a lot of products on TikTok before discovering them directly or at all.
Good Marketing ROI
TikTok’s has 16% ROI for B2B Marketers
TikTok is the perfect place for B2B marketers as it’s the top social media platform in terms of engagement. In addition, it has a 16% return on investment (ROI) for B2B marketers. It’s tied with Instagram in the second position.
Facebook is the top social media platform in this regard. It has the highest ROI when it comes to B2B marketing in May 2023, with 22%.
2/5 of Gen Z Users Find TikTok Lead Gen Ads More Innovative
TikTok’s the perfect platform for targeting Gen Z users, as 2 out of 5 Gen Z users say TikTok ads are more innovative than other platforms. That’s a huge plus if your brand objective is to generate leads and increase conversions.
The lead generation is one of the objectives of TikTok’s advertising, where if a user taps on a lead generating ad’s CTA, it’ll open an instant form or redirect them to your website. You can use the instant form to collect user information, book slots, learn about your business, or product, and more.
Marketing: B2B and B2C
TikTok’s ROI Is 16% for B2B and B2C Marketing
TikTok has 16% return on investment not only for B2B marketing efforts on the platforms, but also B2C marketing. It ties with Instagram and YouTube in the second position in the results of this marketing survey.
Facebook remains the top, popular for Meta ads and the Facebook Marketplace, with 22% ROI.
If you’re thinking about LinkedIn, it has a 7% ROI. However, it’s an excellent choice for B2B marketers as well as B2C ones, as the advertising spend is low in comparison to others. See what other stats make LinkedIn a platform perfect for B2B marketers here.
62% Millennials on TikTok Interact With Entertaining Content
I’ve already mentioned how every 1 out of 2 millennials on TikTok associates the platform with everything fun, and entertaining. They also end up purchasing more from the brands they think are fun or entertaining as well.
To add on to that line of thought, it’s important to note that 62% of millennials on TikTok are more likely to interact with content that’s entertaining and fun.
TikTok has 150 Million US Individuals and 5 Million US Businesses
The United States has evolved to be the top leading market for TikTok between 2020 and 2023. In fact, the TikTok CEO Shou Zi Chew revealed in a TikTok video that 150 million US individuals are on TikTok in 2023. This is the active users count (monthly) and it’s particularly striking because that’s around half of the population of the country.
Moreover, TikTok is home to 5 million businesses from the United States. Most of these are small or medium-sized businesses, showing how TikTok is a great platform for selling online and being visible to your audiences!
74% TikTok Users Find People They Can Relate to
What makes a social media network more popular than others? You can think of many things here, but I think it’s community. That’s what makes TikTok surpass all its other competitors because 74% of its users can find people that they can relate to on TikTok.
This network depends on the most powerful connection known to us: human connection, and helps brands capitalize it while ensuring they remain authentic and true to their audiences and themselves.
I believe that’s what makes TikTok the powerhouse it is, with its short-videos and entertaining content.
TikTok is Changing Lives
TikTok’s content has become exceptionally popular because it teaches you life hacks you never learned in school and simplifies complicated logic. It does all of it in a fun, and entertaining way. That’s what makes it so endearing to its users. As it’s so popular with users, brands feel compelled to use TikTok.
If you’re a B2B or B2C marketer wondering how to position your brand on TikTok, opt for entertaining and funny content that most people can relate to; you’ll end up increasing discoverability, conversions, and sales.
If a customer wants to view the product, they should look at the product listing page. If they want to buy it, then put it in the cart. I mean, it’s basic common sense. Then why is cart abandonment such a big problem for e-commerce businesses?