[Editor’s Note: Know This, Do This is a blog series from System Soft Technologies. What is this series for? It’s a cycle of articles that take you on a journey, exploring ways innovative technology can help leaders drive transformation and growth.]
With more than 800 million users worldwide posting duets, hashtag challenges and memes, TikTok is one of the most used social media apps of 2020. It has massive appeal to marketers, with 41% of its users in the desirable 16- to 24-year-old segment.
But, if you think that Made-in-China TikTok is just about producing 15-second videos, jazzed up with music, filters, animation and more, you’re wrong.
Once a cowboy in the wild west of social media, the TikTok platform and its technology have matured, galvanized by data and analytics. Its data-driven approach is re-defining how brands use TikTok, because it also pinpoints insights from how Gen Z and Millennials have fun and influence with it.
Data is power, and, of course, both Oracle and Walmart recognize this. And, security of that personal data has generated concern of it being erroneously used.
So, the cloud provider and top retailer recently entered into an agreement to own a combined 20% as technology partners of TikTok’s U.S. footprint, newly forming TikTok Global. Oracle steps in as the secure cloud technology provider, banking on its cloud infrastructure business going viral. Walmart continues to reinvent itself in the age of digital consumption, with intent to monetize TikTok’s immense installed base through ecommerce.
The popularity and importance of TikTok, as well as U.S.-industry behemoths taking a stake in it, is proxy for business leaders to pay attention. You should ask yourself: What are the consequences, and why should I care?
With TikTok in the proverbial grasp of Oracle and Walmart, we recommend keeping an eye on the technologies swirling around the outcome of this deal.
In this edition, we look at five key business and technology trends business leaders need to watch. These are all pertinent to the forces that have thrust the TikTok story front and center.
People want to self-curate what they see and consume. This pertains to employees and consumers. Business strategy should leverage technology that can use data, artificial intelligence and machine learning to deliver relevant and easily consumed content based on audience interests, history and motivations.
Collaboration and Communication
TikTok users don’t exist in a vacuum. They share and consume content with others. That’s the cornerstone of its value proposition. Business leaders should look for ways to deploy technology that enables the creation of affinity groups (e.g., birds of a feather), where processes can be seamlessly automated, and content can be shared collaboratively.
Cloud Migration and Security
You may ask why all the fuss about leaders in the U.S. having a desire to shut TikTok down. It has to do with data security. New rules are emerging every day across the globe and with many states in the U.S. that prohibit data sharing outside of specific borders. Has your business looked at its data security approach to ensure compliance with the current regulations and those that are being quickly adopted every day?
eCommerce and Data Strategies
As data powers many business operations and serves up valuable insights on shopper behavior, implementing a data-driven digital marketing strategy and personalized ecommerce storefronts can raise conversions and boost customer engagement. Have you thought about how your data is being used as an asset to drive marketing and ecommerce?
TikTok content is viewed 1 billion times per day. With a digital tool that allows users to quickly create and share content and connect with others, the criticality of a sound social media strategy is powerful.
Paying attention to the influence of TikTok beyond just its users means taking notice of how innovative and analytics-driven technology solutions optimize customer and employee experiences, as well as deliver strong data security. For those businesses ready to embrace the technologies enhancing top and bottom-line outcomes, now’s the time to implement for future business success.
System Soft Technologies partners with businesses to critically think about how cloud migration, data security and analytics, and the digital workplace maximize the benefits of your technology investment. It all starts with our QuickStrike Assessment. Our approach provides a rapid review of your current technology and a defined path forward to business prosperity.
About the Author: Stephen Moritz
Stephen Moritz serves as the Chief Digital Officer at System Soft Technologies. Steve, an avid warrior of fitness and health, champions driving business transformation and growth through the implementation of innovative technology. He often shares his knowledge about Digital Marketing, Robotic Process Automation, Predictive Analytics, Machine Learning and Cloud-based Services.