CANNES — Consumers’ behavior is changing dramatically – and that is prompting advertisers to re-think how they measure effectiveness.
On TikTok, the vast majority of users are taking some kind of action after being entertained or educated on the platform, says Adolfo Fernández, Global Product Strategy & Operations, in this video interview with Beet.TV.
“91% of users take any form of action on TikTok,” he says. “61% of users actually end up purchasing anything on and off the platform.”
Measuring the right results
But Fernández says many advertisers are missing the full picture of TikTok’s impact, because their ad measurement method is too narrow.
“72% of the conversions that are driven by TikTok are not attributed and captured by last click attribution models,” he says.
“And that’s a huge issue on how advertisers actually make decisions on how they allocate their budgets across platforms.”
Brand and performance combine
Fernández also says the traditional split between “brand” and “performance” advertising is becoming less relevant.
“In all the conversations that I had with advertisers in these two days at Cannes, regardless of the industry that they operate in, we are seeing how branding and performers are blending together,” he says.
“That’s the reason why we decided to launch to the market something called Unified Lift, which basically is a measurement solution that brings branding lift service and conversion lift service to give advertisers the capability to measure all the value that we are driving for them full funnel.”
@tiktoknewsroom We’re helping brands turn discovery into measurable action, maximize their performance everywhere, and create entertainment that drives impact. Learn more about our new ad solutions that allow brands to authentically participate in the magic of TikTok ✨ Hashtag data source: Internal TikTok Data, April 2024, Global
Automation for the future
So what does the future of ad performance look like? For Fernández, it is all about automation.
“The vision that we have is to really make very simple for (advertisers) and reduce all the hurdle that they have, free up their time to focus on those two things,” he says. “With that in mind, automation, I think that is going to be a key theme for us.
“That’s the reason why recently we announced on how we are automating our performance solutions, our performance portfolio, really simplifying campaign management for advertisers and driving better performance for them.”
@tiktoknewsroom Introducing TikTok Symphony: our new Creative AI suite that blends human imagination with AI-powered efficiency to help marketers scale content development, creativity, and productivity on TikTok.
You’re watching “Your Performance Is Only as Strong as Your Measurement Plan,” a Beet.TV Leadership Series at Cannes Lions 2024, presented by TikTok. For more videos, please visit this page. To view all of Beet.TV’s Cannes Lions 2024 content, please visit this page.
