With the rise in popularity of TikTok in the United States with over 80 million users, short videos are uploaded daily from users across the United States. This results in a data mine of constantly updated and new contextual and temporal video data. This localized temporal video data can be mined for competitive intelligence and market insights. Major brands can track consumer taste in contextualized settings, understanding what is popular and culturally relevant across demographics. In this post, we’ll cover some example use cases for companies to leverage TikTok for competitive intelligence. TikTok allows users to search videos with specific search terms and apply time-relevant filters (last 24hr, last week ect). This makes it easy to mine inadvertently crowdsourced visual information for market insights.
1. Understanding Competitor Market Presence For Physical Products
Consider a robotics company selling a shelf scanning inventory robot like Simbe Robotics Tally. This company, to perform demos and scale to potential new customer stores, must have a physical presence in stores. Additionally, the presence of a robot in a store is still novel, so people often record videos of it. This creates a TikTok competitive intelligence opportunity for any competing vendor in the space such as Brain Corp or Badger Technologies to track new store deployments of Tally via TikTok, before any formal partnership announcements or sales are made chainwide. As an example, we can see Tally is deployed in Food City grocery stores:
@ladylotustv new robot at my local food city!! do you have one at your store? #robot #foodcityrobot #tallytherobot #groceryshopping #foodcity #robotic ♬ TA-DA! – Wall-E
2. Understanding Young Adult Alcoholic Beverage Tastes
Consider monitoring recent party trends to determine preferences among alcoholic beverages consumers. Understanding shifting consumer trends and popular drink types is critical in the evolving alcohol market, as it would have been easy to spot the sudden surge in hard seltzers if brands were monitoring what was popular among college students.
3. Understanding Popular Sport & Hobby Trends
Consider the views for Pickleball against tennis. Monitoring the view counts of these categories over time, we can see the rate of growth for pickleball is beginning to exceed that of tennis among users of TikTok, indicating the demographic shift in interest to this new sport.
We hope this post provided ideas on how to use TikTok for Competitive Intelligence for your own tik tok competitive intelligence. If your interested in leveraging TikTok for your own competitive intelligence needs, contact us at pericror @ gmail . com.