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Gen-Z Media Opps Update: TikTok taps new marketing head amid spend increases
Update: Social media app TikTok has named Edward Chou its marketing head, effective September. Previously the global marketing and communications director at Apple, Chou brings additional marketing leadership experience from Ogilvy and Dentsu. His hire will likely signal higher ad spending.
During the past 12 months, Adbeat reports that TikTok has spent $1.4 million on digital display ads placed primarily site direct ($784,900) and via YouTube videos on youtube.com ($564,500). Most site direct placements were on sites such as buzzfeed.com ($522,000) and bustle.com. Since no prior data is available, we expect spend to continue rising.
Sellers with high ROI strategies among Gen-Z will have the upper hand here; since TikTok has been targeting younger college students during the back-to-school (BTS) season, reach out soon ahead of the spring semester. Its digital display spend was focused in Q2.
Agency & martech readers - while marketing decision maker hires often precede agency reviews, I'd suggest reaching out elsewhere for now. TikTok hired four AORs about a month ago to fuel its growth plans, so the chances of further shifts are low. RPA split creative.
Below was originally published on August 27:
RPA. Additionally, TikTok got a $1.3 billion loan from Wall Street (per Bloomberg), which means they should have plenty of spending dollars readily available for you, sellers.
Sid Lee is social AOR, handling community management services across Facebook, Instagram, Twitter and YouTube. As it grows, TikTok wants to reflect the same platform ownership as Instagram, per Marketing Dive.
TikTok has spent $1.4 million on digital display in the past 365 days, per Adbeat. The largest percentage of ads were placed site direct (56%) while the second-most published ads were videos placed through YouTube, onto youtube.com. Only 4% of ads have been placed programmatically, mostly through Google. Top publishing sites for site direct include buzzfeed.com, youtube.com, bustle.com, addictinggames.com and foxnews.com. In the 365 days prior, TikTok had not invested in digital display.
As this platform aims to grow and compete with YouTube, it may choose to place national TV ads. As of now, none have been placed, per iSpot.
Sellers -- Plan to make digital space available appealing to Gen Z, primarily. Reach out soon for Q4 prospects and to offer last minute Q3 space. We, of course, do not yet know the top spending periods, but TikTok did spend the most in March, April and June.
Agency readers -- Keep an eye on the success or failure of the campaigns created by these four agencies for now.