TikTok for Business
Year In Review: APAC 2023 Wrapped!
Oh what a year 2023 has been! On TikTok this year, we banded together and celebrated (#tet #christmas #ramadan), explored (#summertravel #nextdestination), and learned (#planttok #cleantok #booktok). And together with our global community of more than 1 billion users, we continued to elevate and celebrate self-expression by discovering and creating content that captured and unleashed our imaginations. With 2024 just around the corner, join us as we take a look in the rearview mirror and celebrate an unforgettable year of creativity, community, and culture.
Supercharging Growth for Businesses
2023 has undoubtedly been a year with plenty of headwinds - but against a challenging macroeconomic environment, TikTok has remained committed to driving and delivering results. In 2023, findings show us that #TikTokWorks:
The Next Creative Renaissance
On the topic of impact, a report published by TikTok this year showed that a whopping 50% of a campaign's success is down to creative excellence. For brands, creative presents a large opportunity to seek new formats to delight consumers with thumb-stopping ads. With this in mind, our 'Storytelling in the Next Creative Renaissance' Whitepaper provides an easy-to-follow framework to help businesses make their creative work harder. The 3R framework: Recut, Remix, Reimagine aims to provide guidance based on where your creative confidence currently lies.
While these three steps can be accomplished individually, storytelling magic happens when you combine all three Rs in the form of an integrated campaign on TikTok. Brands like McDonald's in Thailand have leveraged the 3R framework to resounding success. By focusing on community-led creativity and featuring a fun challenge and guest content, McDonald’s encouraged their audience to bring different kinds of containers in-store to participate in the viral soft serve trend, and saw a 130% increase in the sales of their ice cream, with an 83% monthly increase in foot traffic.
Shoppertainment: Content-driven Commerce
Content truly is king, and a study co-published by TikTok and the Boston Consulting Group in 2023 revealed that 81% of APAC consumers are influenced by entertaining content when making purchase decisions, proving just how impactful content can be in shaping purchase behaviors. On TikTok, the hashtag #TikTokMadeMeBuy has over 78B views, with over 70% of consumers trusting the content they watch on TikTok to make a purchase decision.
TikTok Works
Beyond coming to the platform to merely seek entertainment, our data shows us that during culturally significant periods like Ramadan, consumer appetite for both content and purchase consumption are heightened. During the Ramadan period, 90% of users are likely to buy something they saw on TikTok, and 71% of users seek Ramadan-related inspiration content.
While 2023 has undoubtedly been a year with headwinds, against a challenging macroeconomic environment, TikTok has remained committed to driving and delivering results. In 2023, our data shows us that #TikTokWorks:
TikTok delivers a higher impact on brand sales and volume
TikTok generates 2x ROAS vs. other media average
TikTok drives holistic short and long-term sales impact, achieving higher total ROAS than other media
TikTok generates $2.3 total ROAS (Short term ROAS + Brand Equity ROAS)
Source: TikTok Marketing Science, Marketing Mix Modeling, SEA, 2023, conducted by Nielsen
Best of Campaigns across the Region
In 2023, we've also helped businesses of all shapes, sizes, and industries across the region drive impact on TikTok.
Japan - Daikin (Consumer electronics)
Japanese air conditioner brand Daikin leveraged Creators to launch a highly creative and wacky campaign featuring ghosts to generate recognition for Daikin Industries and expose the brand to a younger consumer segment. Daikin's strategic implementation of unique TikTok features such as Instant Pages led the campaign to achieve a +31.4% increase in ad recognition.
Australia: Cerave (Personal Grooming)
L'Oreal owned skincare brand Cerave has witnessed explosive sales globally after gaining traction on TikTok. Learn more about how Cerave's Australia's team leveraged TikTok to increase product preference and drive purchase intent in the Down Under.
Indonesia: Bibit (Financial Services)
Bibit is a Robo-investing brand that provides assistance on smart mutual fund investments. Read more about how Bibit leveraged TikTok to drive incremental purchases and registrations.
Championing Culture and Safeguarding Community
TikTok has always been a driving force of culture, and together with you, we celebrated the latest and greatest of cultures from all over the world. From Tet in Vietnam to Ramadan in Indonesia and Malaysia and Christmas in Australia and Japan, our community took to TikTok to share and partake in important moments of celebration. Our users took to the platform to seek inspiration (#HalloweenMakeup - 15.7B views), prepare for important Holidays (#GiftWrapping - 2.7B views), or celebrate a religious month of fasting, prayer, and reflection (#RamadanKareem - 2.8B views).
From cultural moments to fandoms, TikTok is home to it all. Just take 'K-wave', the popular buzzword that has taken our TikTok community by storm and shows how cultures can be taken from TikTok to the world. Viral frozen Gimbaps, anyone? While K-Culture may be heavily associated with K-pop, the Korean Wave is unfurling in various verticals, from beauty to F&B. Korean words like #mukbang have also entered our everyday vernacular, earning over 170B views globally.
Our platform naturally attracts attention, and we recognize that we have a responsibility to ensure safety is top priority on our platform. We have 4 dedicated pillars of Brand Safety to reaffirm our multi-pronged commitment to keeping TikTok safe for everyone.
Keeping our community safe
Building for Brand Safety & Suitability
Championing Transparency & Accountability
Partnering for Progress
Our dedication to brand safety is not a one-time initiative. Click here to learn more about our ongoing commitment and efforts around safety across the entirety of the TikTok platform, for users as well as brands and businesses.
Three Cheers for Award-Winning Work
Apart from helping businesses thrive in the digital economy, we'd also like to take a moment to celebrate and thank our industry partners and peers for recognizing TikTok as the #1 platform in capturing attention of consumers and marketers (Kantar Media Reactions 2023).
The awards don't just stop there - this year, we had the incredible honor of winning a whopping 21 Cannes Lion Silver and Gold awards in total for 'The Reluctant Shanty', a film co-created by TikTok Creator Nathan Evans and Australia for UNHCR (UN Refugee Agency). The video tells the moving story of the reluctant refugee survivors who've embarked on dangerous sea crossings in order to escape conflict, persecution and violence.
Over in Southeast Asia, TikTok Vietnam scooped up four awards at the MMA Smarties! 🎉 The victorious campaign 'Hyaluronic Acid (Ha) Revitalift Livestream Marathon' run by L'Oreal Paris earned 1 Gold, 1 Silver and 1 Bronze award! 🥇 That's not all—the campaign's star power also earned TikTok the esteemed 'Enabling Technology Company of the Year' award. In Thailand, the viral McDonald's soft serve trend (#ไอติมโคนทุบ) also bagged a Gold Award for the best Real Time marketing campaign globally at the Smarties APAC.
As we wrap up yet another memorable year on TikTok, we would like to sign off by saying a BIG THANK YOU for your partnership. To a bigger and brighter year ahead, and see you on the flipside! #DriveImpactwithTikTokin2024