Last week, TikTok announced that it will be integrating a first-party solution, called Attribution Analytics, to expand its measurement capabilities beyond last click.
“Click-based measurement makes more sense in an environment where the user is actively searching for a product and is already one click away from a purchase,” the company said in a blog post. “However, it severely under-attributes platforms like TikTok where users are immersed in a steady stream of content and engage with brands or discover products while being entertained.”
The company said that Attribution Analytics will help advertisers understand the non-linear path its users take to purchase. TikTok also recommended the use of post-purchase surveys and multi-touch attribution tools.
“The immersive nature of TikTok content means users often see and take inspiration from ads but don’t want to disrupt their browsing experience.”
-TikTok Blog Post
The platform is known for its cheap impressions but not necessarily for high conversion rates. According to Varos, based on a sample of 4,000 companies, TikTok had the lowest average CPM but also the lowest conversion rate.
Note: Different industries have different CPM and conversion rate norms, so to compare likes to likes, these statistics are specific to the beauty industry.
Last year, TikTok’s growth made Google and Meta’s combined market share fall below 50 percent for the first time since 2014. If Attribution Analytics convinces advertisers that TikTok’s conversion rates can compete with Google and Meta’s, the platform may pose a serious threat to the duopoly.
- Adidas launched a new global brand platform: “We Gave the World an Original. You Gave Us a Thousand Back.”
- Remember when we told you last week that TikTok added Wikipedia snippets to search? Well, now TikTok and Google are in talks to integrate Google search prompts into TikTok.
- Frito-Lay teamed up with Megan Thee Stallion to promote its Flamin’ Hot Cheetos, Doritos, Ruffles, Funyuns, and more, according to Marketing Dive.
- ChatGPT is dialing up its content to highlight new features.
ChatGPT can now see, hear, and speak. Rolling out over next two weeks, Plus users will be able to have voice conversations with ChatGPT (iOS & Android) and to include images in conversations (all platforms). https://t.co/uNZjgbR5Bm pic.twitter.com/paG0hMshXb— OpenAI (@OpenAI) September 25, 2023
That’s all for this week’s Marketing Roundup. Check back in next Monday for more news. And subscribe to our newsletter below for additional updates.