TikTok users don't just browse TikTok, they actively engage with its content. This trend has caused brands and retailers of all sizes to take notice and consider establishing a presence on the platform.
In fact, earlier this month, PYMNTS Sujata Mamidibasra, Head of Small Business at TikTok. In the conversation, she discussed tactics for helping small businesses become familiar with the platform, understand its features, and analyze key factors critical to achieving success and gaining viral visibility. I did.
Now, in an effort to leverage the comprehensive value that TikTok offers, the platform is introducing attribution analytics within TikTok Ads Manager. This new tool aims to help advertisers evaluate the effectiveness of their TikTok ad campaigns and provide a deeper understanding of user behavior on TikTok.
“TikTok provides tangible value to businesses, driving discovery, product research, and motivating action.To demonstrate the true value of TikTok, we can provide advertisers with a transparent view of the effectiveness of their ads. “We are excited to launch Attribution Analytics,” Ray (Jiayi) Cao, Global Head of Monetization Product Strategy and Operations, said in an email to PYMNTS.
The decision to implement attribution analytics stems from TikTok's recognition of the limitations associated with traditional measurement techniques. This realization is especially important given that 79% of TikTok purchases bypass standard metrics, and relying solely on click-and-buy metrics underestimates conversions by 73%.
Also, considering the recent situation, Post-purchase datafound that 44% of buyers who attributed product awareness to TikTok ads did not click or engage with the ad within the 28-day attribution window. With this in mind, Attribution Analytics in TikTok Ads Manager provides a holistic view of the customer journey as a first-party measurement solution. Includes features such as performance comparisons that allow you to customize your attribution strategy.
The value of first-party data
Everyone wants to go viral on TikTok, but growth on TikTok is generally more likely when brands, retailers, and creators are consistent and authentic.
“One misconception, or rather, a false expectation, is that instead of focusing on virality, community” Mamidi Basra told PYMNTS. “My suggestion is for small businesses to focus on community. If you focus on building that, you'll get virality.”
Creators and retailers looking to create content that resonates with consumers can benefit from monitoring metrics to get a complete picture of user awareness, discovery, and engagement.
“TikTok's algorithm truly gives everyone the option to have a viral moment, but your content has to be good quality, engaging, and worthy of people's time and interaction. My Business first went viral in greeting cards just two months after launch,” he said. currie goodwinfounder of spark of joy in LinkedIn Post. “Our most recent viral moment was last month when he had over 8 million views on one particular product, resulting in $30,000 worth of sales.”
Attribution analytics features
TikTok plans to introduce various features within its attribution analysis tools.
One such feature is performance comparison. This is a measurement tool designed to show conversions over different time periods to help advertisers find the best strategy for their companies.
Through performance comparisons, brands and retailers can conduct detailed analysis and compare different actions users take across different attribution windows, such as viewing content, adding to cart, checking out and initiating a purchase. . This evaluation extends to assessing the impact of these attribution windows on key performance metrics such as cost per acquisition (CPA).
A visual representation allows sellers to monitor changes in click-through and view-through conversions while also tracking changes in CPA across different combinations of click and view attribution windows. This tool allows brands and retailers to gain insights beyond their current attribution settings, ultimately providing future-proofing tools for more effective and data-driven marketing campaigns. Helps create a measurement strategy.
How to use
Brands and retailers using TikTok Ads Manager may face challenges with the default attribution window, which consists of 7 days of clicks and 1 day of views. This is because buyers spend different amounts of time advertising, which may not accurately reflect the value generated from your marketing efforts. Consideration stages across various industries.
Brands and retailers can use this tool to analyze performance metrics across different attribution windows. For example, you can compare conversions for 7-day clickthroughs and 28-day clickthroughs. This data allows sellers to make informed decisions in choosing the most effective attribution window for their objectives, ultimately increasing the value of their marketing campaigns. Masu.
Additionally, it’s important for brands and retailers to understand that click-based conversions alone aren’t enough to capture the true impact of TikTok. According to a meta-study of TikTok conversion lift rates, click attribution underestimates his TikTok conversions by 73%.
To address this issue, performance comparison data provides the ability to monitor conversions that result from ad impressions or clicks, allowing you to better understand the specific time frames in which these conversions occur.
