It's no secret that TikTok is one of the hottest social media platforms on the market today. With an estimated 1 billion monthly users and counting, TikTok is quickly becoming a force to be reckoned with. And while many people associate TikTok with Gen Z users, it's important to note that 1/3 of TikTok users are over the age of 30. That number is only going to grow as the platform continues to gain popularity.
So, what does all this mean for car dealerships? Simply put, if you're not already on TikTok, you need to be. Here's why:
TikTok is all about short-form videos. And in today's digital age, video is more powerful than ever before. According to HubSpot, including video in your marketing can help you increase website visitors by 164%. And those visitors are 70% more likely to convert into leads.
But it's not just website visitors and leads that you should be thinking about. Video can also help you close more deals and sell more cars. In fact, 74% of car buyers say that video helped them make their final decision when purchasing a vehicle.
Another reason why your dealership needs to be on TikTok is because of the platform's ad capabilities. Earlier this year, TikTok launched its self-serve ad platform, which makes it easier than ever for businesses of all sizes to advertise on the site. And with around 80% of TikTok users saying they've discovered new products on the platform, there's a good chance that your target audience is already using TikTok to research potential purchases—including cars!
Not only are more people watching videos on TikTok, but they're also engaging with them at a higher rate than other social media platforms. In fact, TikTok has an engagement rate of 8%, while YouTube is at 4%, Instagram is at 3%, and Facebook is at 2%. This means that if you're able to create engaging content on TikTok, there's a good chance that people will stick around to watch it until the end.
There's no doubt about it, TikTok is changing the landscape of social media—and that includes the auto industry. If your dealership isn't already on TikTok, now is the time to jump on board. With the power of video and self-serve ads at your disposal, there's no limit to what you can achieve on TikTok. So what are you waiting for? Get started today!