In a few short years, TikTok has gone from an app to a global phenomenon. This social media/networking platform/app (it does everything) specializes in bite-size videos. Think dance videos, lip-syncing challenges, and content meant to make you laugh. It’s popular with Gen Z, and is now catching on with Gen X, Boomers, and businesses looking for another way to reach their audiences.

With over a billion global active users, this is one of the most powerful social networks for marketing. But before you dive in, you need to know who your audience is.

TikTok is a whole new world, with its own best practices, unspoken rules, creators, and marketing strategies. The formula you used to promote your brand on Instagram or Facebook won’t work here—it needs to fit the platform like a glove. Start by learning from top creators and experimenting with your own videos.

Expanding Your Reach: Growing Your Business with TikTok

Once you’ve figured out your approach, consider investing in some paid ads. TikTok offers Brand Ads, which display your video in the feeds of users who are interested in topics you’ve selected. It also offers Interest Targeting, which allows you to select specific interests and shows your ads to those users.

If you want to Grow your business with TikTok, it’s important to create content that will engage and inspire your audience. Whether that’s through a funny video or by addressing a common pain point, you can make your business stand out with creative content.

Facebook allows you to choose from a wide variety of ad formats. Each format has a different objective, such as driving traffic, increasing brand awareness, app installs or converting customers. You can also select a cost model, such as CPC (cost per click), CPM (cost per thousand impressions) or CPA (cost per action). Each model has different costs associated with it.

The ad cost on Facebook depends on your chosen objectives, targeting options, and the quality of your ads. The most important factor in determining the ad cost is your target audience. A more specific audience will generally have higher ad costs than a broad one. In addition, an ad that is more relevant to a user will typically have lower ad costs than one that is less relevant.

Deciphering Expenses: Understanding the Cost of FB Advertising

Which ads are shown on Facebook is determined in an auction that takes place in a fraction of a second. The advertisers with the highest bids are rewarded with space in the news feed or sidebar. Ads are ranked based on their relevance, value to the user and estimated action rate.

Effective advertising should yield a positive return on investment. A good way to measure ROI is through Customer Lifetime Value (CLV), which combines your revenue from each customer with the cost of the ads that convert them. This can be a helpful metric to use when deciding whether or not your FB advertising cost is worth the investment. You can calculate your CLV using tools like Google Analytics, Shopify or the new ad manager on Facebook, One-Click Report.