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Far from its origins as a platform for teenagers to share lip-sync and dance moves, TikTok has become one of the most popular social media platforms in the world. The short-video-sharing app, which saw a huge rise in use during the pandemic, has become a cultural juggernaut, a place for users to learn, explore trends and connect. And for business owners and commercial real estate professionals who know how to take advantage of it, TikTok helps them connect with younger audiences, build community, attract clients and even find new employees and tenants.
RELATED: A Mall Owner Who’s Finding New Tenants and Ideas for Repositioning Via TikTok
“This is the place that our audience is, and so it’s a great place for us to be,” explained JLL's Anja Silvers, digital media and events coordinator for Rosedale Center in Roseville, Minnesota.
Launched in 2016, TikTok has more than 1 billion monthly active users and has been downloaded over 200 million times in the U.S. Nearly 70% of its active users are under 40 years old, according to Statista, making the app a prime target for owners, brokers and brands seeking the attention of Millennials and Gen Zers. It has the highest engagement rate of any social media platform. “TikTok is a great platform for engagement because you’re able to connect with a captive and active audience,” said Jamie Gyerman, director of planning and channel strategy for Akhia Communications, which provides digital strategy for national brands. “I say ‘captive’ because you can’t leave. Once you’re on there, you go in to maybe watch one video, and 10 minutes later, you’re still there. It’s very addicting, and it is tracking the highest right now for how long people spend on the platform.”
That’s because TikTok’s algorithm is an attentive concierge, anticipating what users want to see before they even know they want to see it. “I really feel like it knows me,” Silvers laughed. The selection of videos that appear on a TikTok user’s For You page is personalized based on the user’s past interactions, including the accounts they follow, the videos they’ve watched or shared, comments they’ve posted and creators they’ve hidden. The result is a stream of videos tailored directly to a user’s interests, even if that user hasn’t liked or followed the creators’ accounts. “Unlike other social media platforms, you’re going to see content … from people or businesses that you maybe don’t follow because the app is serving you content it thinks you’re going to like,” explained Gyerman. “That gives you or your brand the ability to appear in someone’s news feed that you might not have been introduced to yet or connected to. It allows you to get some really great exposure.”
Indeed, when Mall of America senior manager of social media Nate Sandell studied the Bloomington, Minnesota, property’s TikTok engagement, he was surprised to see that many of the people commenting on the videos are from out of state. People from around the country were discovering the mall and tagging each other with comments like: “Why can’t we have a mall like this in our area?” and “We need to go there this summer!!” To Sandell, that’s a sign that the content is working. “We have over … 200,000 followers, and I would say most of them are from all over the country,” he said.
TikTok also allows commercial real estate professionals to humanize themselves. When users see someone’s face or videos enough, that person becomes a trusted and recognizable name and top of mind when those viewers think about finding or selling space. “I equate it sometimes to having your face on the bus bench,” said SVN Desert Commercial Advisors broker Eddie Gonzalez, who generates all his business from social media.
Indeed, if used well, TikTok can generate more leads than email blasts or cold-calling campaigns. “You’re hitting people in their pockets,” said restaurant consultant and social media strategist Kyle Inserra. “They’re looking at their phones all the time.” The key is demonstrating professional chops while sharing snippets of your personal life. “I’ve gotten two deals strictly because of my French bulldog,” he said.
For those on the fence, now is a good time to get on the app. “People are excited about TikTok,” Gyerman said. “They’re using it. They’re exploring. There [are] not a ton of ads and businesses on there yet. You’re going to have a really great audience to connect with.”
By Rebecca Meiser
Contributor, Commerce + Communities Today
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
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