With over 1 billion active users, TikTok is a social media site that is expanding quickly. Does this mean that the social media platform is a new tool for business marketing or just another platform where users may spend time?
TikTok is a social media platform where users upload short video content and follow trends to stay up-to-date. As the majority of users are from Gen Z, they create all types of short videos, including educational, entertaining, fashion, beauty, and skincare as well as marketers. The platform aims to provide information/entertainment in the shortest amount of time.
As for the payout model, TikTok integrates affiliate marketing for its users. The users with more views attract different businesses to promote their products/services in exchange for PR gifts, rewards cash, and sponsorship deals
A few noteworthy FinTok influencers are:
- Humphrey Yang (@humphreytalks) has 2.7 million TikTok subscribers and uses the platform to explain changes in the stock market, property investment, gas costs, and inflation.
- Austin Hankwitz (@austinhankwitz), adds opinions to news articles regarding Nike’s investment in NFTs or Apple’s achievement of a new market cap milestone. He has more than 500k fans.
- Vivian Tu (@YourRichBFF), amassed 900k followers. She developed her brand by offering practical tips for achieving financial independence, and she is now compensated $3 to $4k every article to promote businesses like Credit Karma and Insurify.
The goal of fintechs like PayPro, sadapay, easypaisa, nayapay, finja, Kuickpay, safepay, jazz cash, checkout, Foreepay, opay, tez financial, finja, and zindigi is to digitize the Pakistani economy. As TikTok becomes more widely available, they are launching various ads on various social media platforms to lure people to the new payment behavior and educate them about how safe and simple online payments are.
With the use of brief videos showing their dashboards, online payment gateways, website payment options, how to pay a bill, and electronic payment systems, Pakistani fintechs have already launched a variety of campaigns on TikTok to sell their merchandise and services. Through this, they hope to assist and educate the users by presenting them to payment security behavior through engaging video content
The TikTok community is growing on a very huge scale day by day from entertainment to instructive films. It’s the greatest time for any business, including fintech, to increase sales and generate leads from this social media platform and educate the audience as effectively as they can with the massive TikTok community.