TikTok for business will be available to MSMEs in Mexico

The short video platform TikTok has decided to include Mexican MSMEs among the clients of its digital advertising business. The company, owned by the Chinese conglomerate ByteDanceextended its digital advertising program TikTok for Business to a sector that employs 67.9% of formal workers in Mexico, according to Inegi data.

Because it is important? TikTok seeks to compete more aggressively in the digital advertising segment, a market dominated by just three companies: Google, Facebook y Amazon. To do this, it not only turned to large advertisers but also seeks to offer video advertising to small businesses, which generate half of Mexico’s GDP.

• Mexico It is the fifth country in which TikTok it has the most users, with 50.52 million, after the United States (136 million), Indonesia (99 million), Brazil (73 million) and Russia (51.3 million), according to data from Statista.
• 62% of users believe that people will buy what is advertised on TikTok, according to a Kantar study commissioned by TikTok.
• 83% of Mexican users said that ads on TikTok are fun.

TikTok is not a social network

“TikTok changes the way we consume culture,” Efraín Mendicuti, director of Global Business Solutions at TikTok, said in an interview. TikTok in Mexico. The executive began the presentation of the expansion of the advertising service to SMEs by clarifying that TikTok is not a social network, but an entertainment platform.

The difference between TikTok y social networkslike Facebook, is that they use the relationships between users, or social graph, to make recommendations for content and advertisements, while the short video platform uses only user behavior.

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• Mexico and Latin America are among the fastest growing regions both in terms of audiences and businesses that use their services, according to Mendicuti.
• Depending on the platform, TikTok has had triple-digit growth in Mexico in audiences and in the number of companies that work with the platform.
• 63% of users consider that in TikTok you can find products and content that go with them and their tastes.

“TikTok it is promoting and generating a change in the way we are creating and consuming culture. People are no longer just waiting or thinking when the new season of their favorite series or a new movie is coming out. Instead they are flocking to TikTok,” Mendicuti said.

rodrigo.riquelme@eleconomista.mx

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