SWOT Analysis of TikTok | TikTok Strengths, Weaknesses, Opportunities and Threats
1.What is TikTok?
TikTok is a mobile application that enables users to create and share short videos on their iOS or Android device.
It was launched in 2017 by ByteDance, a Chinese media company and is the continuation of an earlier application called Douyin. The company was founded by Zhang Yiming in 2014, as a video-sharing app.
In September 2016, Douyin was rebranded as TikTok and became a short-video platform that provides a platform for users to share their videos with other users.
2. How is Business Model for TikTok?
TikTok’s business model relies on advertising revenue.
The company initially considered creating a music streaming app, but ultimately launched as a short video sharing platform, recognizing the potential for growth in the unit of value.
The app has attracted a large user base, with over 1 billion users today. The main activity on the platform is sharing videos, and the content of these videos is the core of the app.
From 2017 to 2018, TikTok saw a significant increase in video views and has become a major player in the global social media landscape.
The company’s mission is to foster creativity and innovation and to provide a platform for new and unique forms of entertainment.
3. How Does TikTok Makes Money?
TikTok generates revenue from various sources, including:
- Advertisements that appear as floating ads on live videos
- Content licensing and network advertising that appear on users’ profiles and games
- Monetizing related applications through partnerships with companies such as Baidu and UC Education
- Offering a paid premium service to a select group of users
- Selling user data to advertisers and media companies.
4. TikTok competitors
TikTok has similar goals as several large multimedia companies, including Facebook, YouTube, Snapchat, Musical.ly, Instagram, Twitter, and Meta.
These companies offer various platforms for users to share and view multimedia content, including text, photos, and videos.
Some, like Facebook, Instagram and Twitter, allows users to post and interact with text based messages and others like YouTube, Snapchat and TikTok focuses on video sharing and various forms of editing and filtering the content.
Meta is a software company specialized in AI and natural language processing, however, its goal and services aren’t directly related to the ones provided by the other companies mentioned.
5. SWOT Analysis of TikTok
Strengths of TikTok
TikTok’s strengths include its user-friendly interface, ability to attract users with creative content, fast growth in popularity, a large user base of over 500 million users, strong monetization options for businesses and content creators, an attractive and easy-to-use design, new and innovative features, diverse content options such as photos, videos, GIFs, music clips, and stickers, ease of use for everyday users, a strong and engaged community, effective marketing strategies, a winning product appealing to a broad range of people, potential for monetization through user spending, a talented and cohesive development team, and its ability to integrate and manage multiple social media accounts within the app.
Weaknesses of TikTok
- Advanced features that may be challenging for new users to understand.
- Lack of filtering for certain audio tracks and background clips that may contain inappropriate content.
- The potential for addiction and negative effects on mental health from excessive use.
- The possibility of having one’s account terminated due to inappropriate content.
- A lack of unique features compared to other social media platforms.
- TikTok does not own the rights to any content which can lead to the removal of videos at the will of the content creator and TikTok is not able to guarantee the availability of that content.
Opportunities of TikTok
TikTok has various opportunities for growth and development, including in the areas of technology, business, and advertising.
These opportunities include improving its algorithms and video format, introducing user-friendly features, developing its business side, offering branded or sponsored content and product sales, using its platform for charity, promoting its business through native advertising, and utilizing its platform for rapid communication during disasters.
Additionally, TikTok has the potential to expand its global reach and remove current restrictions.”
Threats of TikTok
a) Inappropriate content appearing on the app and damaging the platform’s reputation
b) Lack of user security leading to account hacking and theft
c) Failure to adapt to changes in market conditions and consumer attitudes and preferences
d) High level of competition from other social media platforms
e) Lack of originality and creativity on the platform
f) Competition from established social networking sites like Facebook and Twitter
g) Use of the platform by terrorists and hackers to spread harmful messages
h) Risk of the platform’s name being taken by someone else through cybersquatting
i) Collection of sensitive user data without explicit user knowledge and consent.
FAQS of TikTok
a) Is TikTok Safe?
It is a safe platform. There are security features for the users to protect themselves from spam, bullying and other online threats.
b) How can I Download TikTok?
Users can easily download TikTok from Google play store or apple appstore. It’s free.
c) How can I Delete TikTok?
TikTok is very difficult app to delete. it is not like other social media.
The way to delete account is by using the official web site of TikTok and then fills in all the required information then click on submit button and your account will be deleted.
d) Can they Download Video on TikTok?
TikTok is a social media platform so the users can only share their videos on TikTok community. They won’t be able to download video from this app.
e) Can they Download Songs on TikTok?
TikTok is a social media platform so the users can only share music there or hear it from their friends and other musician. They won’t be able to download songs from it directly.
f) How can I delete my account?
If you want to remove your account, then the option will be available under settings on your phone or Personal computer?
g) Can they make money on TikTok?
TikTok is a social media platform so the users can only earn money by creating videos there. They won’t be able to earn money directly from it.
h) How do I get a TikTok account?
You can make a TikTok account from any social media platform like Microsoft live, Facebook, Instagram, twitter etc.
i) What happens when a person deletes their TikTok account?
When a person deletes his or her account, the data associated with that account will be removed from the system and the user will not receive any notifications from TikTok.
K) Can TikTok watch them?
TikTok can’t watch them and it doesn’t collect any private information.
TikTok has also introduced a new feature which is ‘Video Request’. If you want to make a video request, you can scan the QR code on the screen.
The video you send will be kept on the server for 30 days after getting your permission to it.
Last but not least; delete your TikTok account if you don’t like it.
l) Does TikTok actually spy on them?
TikTok doesn’t spy on you. It helps its users to send messages easily.
m) Is it possible to hack into someone else’s TikTok account?
Yes, some people can hack into other’s TikTok account easily for some extent.
n) Is it possible to change their username or profile picture?
No, it is not possible to change either of them, but they can make a video about changing your profile picture or username and share it on TikTok.
o) Is it possible to change the content they posted on their account?
No, it is not possible to change any of the content they posted on their account.
P) Is it possible to delete pictures from someone else’s TikTok account?
Yes, you can delete pictures from someone else’s TikTok account and it is very easy to do so.
q) Why is TikTok a bad app?
TikTok is not a bad app at all, it helps its users to send messages easily and share videos. It’s just that some people misuse it and use it for wrong purposes.
r) Who created TikTok?
TikTok was created by ByteDance Inc.
s) Why is TikTok popular?
TikTok is popular because it is an easy app to use and share videos.
t) Is TikTok available only in the United States?
No, it is not available only in the United States; it can be used by all over the world.
u) Is it safe to download TikTok?
Yes, TikTok is a very safe app to download because of its security features.