TikTok has announced a new partnership with advertising giant WPP which will give WPP clients access to internal tools and options to help maximize their on-platform efforts, and tap into the rising influence of the video platform.
As explained by TikTok:
"Recognizing the significant opportunities for brands that both short-form video and digital content continue to present, WPP will have early access to advertising products in development, ensuring WPP and its clients remain at the forefront of innovation as TikTok further develops its suite of products for brands. This includes partnering on marketing API integrations and next-generation formats, such as augmented reality offerings."
The partnership will also see TikTok working with WPP on a new creator partnership program, in order to facilitate brand collaboration opportunities with relevant platform stars. WPP will also become the Lead Agency Development Partner for TikTok's creator-focused APIs, "which will incorporate WPP’s market-leading brand safety methodology while leveraging unique brand and marketer data signals".
The integration will essentially provide more opportunity for WPP clients to maximize their TikTok efforts via internal collaboration and insight. WPP will also look to co-create training and accreditation programs for WPP agencies.
It's a significant step for TikTok and its business process, which is still, essentially, in development. The biggest risk for TikTok remains that it could still lose its top creators to bigger platforms, like YouTube and Instagram, where their more mature creator ecosystems facilitate greater revenue opportunities. For TikTok to maximize its position, it needs to provide clearer pathways to help creators make money, which this new partnership with WPP aligns with, and will facilitate moving forward.
It also provides significant benefit for WPP, especially if, as projected, TikTok becomes the next billion-user platform in 2021.
That could put WPP in the box seat to become the key provider for major brand campaigns on the fastest-growing social platform.
The partnership goes into effect from today.