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TikTok Sets 2022 Target of $12B in Sales

TikTok Sets 2022 Target of $12B in Sales
Written by publishing team

After generating nearly $4 billion in ad revenue in 2021, TikTok plans to triple that number in 2022.

As Chinese media LatePost reported on Thursday (January 13), sources in the company’s sales department said the company wants to reach ad sales of at least $12 billion this year. And a source at ByteDance – the Beijing-based company that owns TikTok – says the video-sharing platform now has a sales team in the thousands, primarily in North America.

Overall, the company has nearly 20,000 workers, more than five times the number it had at the beginning of 2020.

Read more: TikTok overtakes Google in the list of most visited sites in 2021

Last year, TikTok was the most popular website on the Internet, surpassing even Google. In the previous year, it overtook Facebook and WhatsApp to become the most downloaded app in the world.

Site users watch videos from their smartphones or web browsers to view them, with the help of the site’s algorithms, which predict which videos the users will find attractive.

These algorithms have attracted a lot of interest in the world of digital marketing because they fueled TikTok’s rapid rise to power.

However, TikTok still falls a bit short when it comes to advertising when compared to platforms like Facebook, LatePost notes. Facebook offers more complete user tags, with things like the user’s real names and social relationships, allowing for more accurate ad recommendations.

Facebook has more large customers, while most TikTok advertisers are – at the moment – small and medium-sized businesses.

“This is also the reason why TikTok has started to aggressively develop e-commerce in the past year: on the one hand, to open up new sources of income; and most importantly, e-commerce is closer to big customers and big brands.” “Once it’s established, advertisers will definitely be willing… to stay here.”

We see: TikTok Seller app manages online stores via smartphones

Last year saw TikTok launch a university seller service in Indonesia which was one of several tests of e-commerce solutions. The company also unveiled a suite of TikTok Shopping tools that allowed merchants to add a Shopping tab to their profiles and set up storefronts through synchronized product catalogs.

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