Although TikTok has been a core marketing tool for a number of years, like everything, there is always room for improvement. TikTok's team is constantly trying to evolve the platform, giving its users, creators, and marketers the best opportunity to thrive, whatever their niche. TikTok's latest advancement is Attribution Analytics, a first-party measurement tool that allows marketers and advertisers to better understand the consumer's journey on the app.
The choice to introduce the analytics initiative came after a post-purchase survey revealed that 79% of conversions attributed to TikTok by users themselves were missing from last-click models, meaning those pushing ads on TikTok were unaware of a lot of the traction their marketing was getting. The tool aims to increase awareness, discovery, and action by providing a view of the nonlinear customer's path to purchasing.
The launch will introduce a series of features, including being able to:
According to TikTok, Performance Comparison will benefit a range of businesses in different industries. This is attributed to the fact that the platform's previous analytics tools showed only seven days' click-through rates and one-day view rates, which do not always reflect true marketing performance—for example, it would typically take someone longer to make a car purchase than a beauty purchase, as this is often a much higher financial commitment. Now, Performance Comparison will show the impact on key performance metrics across a selected timeframe, for example, the number of conversions that occurred across a 7-day click-through window compared to a 28-day click-through window. This will help marketers find the best window to maximize a campaign's goals and, therefore, its values.
Performance Comparison will also allow for questions to be answered surrounding the effectiveness of TikTok views in driving view-based conversions. The tool will enable one-day and seven-day view-through attribution options that will help businesses visually compare the ad's impact in driving assisted conversions. This additional information will help brands to learn what does or does not work for their audience, with a recent TikTok study finding that the view-based conversions and click-through conversions data accelerate campaigns' learning period by 113%. As a result, marketers will be able to observe lower fluctuations in ad spend, increasing performance stability and allowing them to scale more quickly.
A few businesses and brands have been piloting the new tool, including digital marketing agency Power Digital Marketing. "Having visibility into extra click-through and view-through event data has made it easier to prove TikTok's value and scale our clients' campaigns. This tool has allowed them to look beyond a standard last-click window with more confidence," says Thomas Carter, Senior TikTok Strategist at Power Digital Marketing.
Attribution Analytics is one of many steps towards further growth TikTok has implemented. Recently, the platform introduced Fulfilled by TikTok, an extension to TikTok Shop that was designed to help free merchants relieve themselves from time-consuming shipping and fulfillment tasks with fast and affordable service. FBT's process works through signed-up merchants handing over a volume of their stock, which is then stored at a warehouse. Once these items are in the warehouse, when an order is placed, workers pick, pack, and ship the product the same day. Beauty brands have already adopted the service, including The Beauty Crop, a small independent business, which has seen search volumes increase by 30%, shipping times drop by 36%, and late dispatch rates drop by 45%.
TikTok's commitment to evolving itself to ensure the best opportunity for businesses strongly validates its place in the ever-expanding e-commerce market. As it becomes easier for brands to find success on the video-based app, the landscape of marketing is sure to continue to change, offering new and innovative strategies for growth in the beauty industry.
