Latest / Best of Business / Laurence Carey: Squid Group Founder on TikTok reportedly boosting local economies by $1.2 billion

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Laurence Carey: Squid Group Founder on TikTok reportedly boosting local economies by $1.2 billion · Best of Business

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  Speaker 2: So TikTok advertising apparently is boosting New Zealand's GDP by
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  Speaker 2: one point two billion dollars. The report came initially from well,
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  Speaker 2: of course TikTok, but it's being supported by the guys
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  Speaker 2: at Informetrics and Brad Olsen and they say advertising on
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  Speaker 2: this social media platform is now an integral part of
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  Speaker 2: New Zealand business. And Lawrence Kerry is the founder of
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  Speaker 2: local TikTok advertising agents Squid Group, and joins me. Now,
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  Speaker 2: hello Lawrence, Hey, how are you going good? How big
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  Speaker 2: is TikTok in New Zealand.
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  Speaker 3: TikTok's definitely a major platform now across both organic and paid.
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  Speaker 3: But yeah, I definitely say it's integral to a lot
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  Speaker 3: of businesses now and the main strategies that they kind
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  Speaker 3: of want to grow with.
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  Speaker 2: What surprised me three hundred and nine thousand key Week
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  Speaker 2: businesses using the platform each month to promote themselves, connect
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  Speaker 2: with customers and support their lively hoods. That's a lot
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  Speaker 2: of companies.
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  Speaker 3: Yeah, And I think some businesses, like you think they
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  Speaker 3: choose different strategies to kind of grow, and if you
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  Speaker 3: do it right on TikTok you can do a lot
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  Speaker 3: with just out actually doing any paid media. But also
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  Speaker 3: it's an easy way into social media if you're just
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  Speaker 3: producing lots and lots of content.
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  Speaker 2: Yes, the warehouse has done it and they'd been a
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  Speaker 2: great success. So tell me how do you make a
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  Speaker 2: success of TikTok advertising? See this feels a little bit
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  Speaker 2: like the turkey praying for Christmas, because I'd rather you
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  Speaker 2: actually did some hands radio. But there we go. How
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  Speaker 2: do you make a success out of TikTok advertising?
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  Speaker 3: I think the main thing is not just rehashing the
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  Speaker 3: same content you use on every other platform. So, like
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  Speaker 3: any sort of advertising, you have to be specific around
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  Speaker 3: how you're advertising. So when advertising on TikTok, you need
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  Speaker 3: to make sure that you advertise how the people using
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  Speaker 3: the platform want to see the platform. So if you're
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  Speaker 3: advertising on Facebook, for example, you produce certain types of content,
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  Speaker 3: but for TikTok, it's a very specific style and quantity
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  Speaker 3: of content that you need to do. And it's all
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  Speaker 3: about testing.
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  Speaker 2: And you're going to shoot yourself in the foot if
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  Speaker 2: you basically put a standard TV add on TikTok, everyone's
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  Speaker 2: going to go. You need to have compelling content.
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  Speaker 3: One hundred percent, and there needs to be that same
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  Speaker 3: thing exactly like radio and billboards and any other sort
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  Speaker 3: of advertising. You kind of need to think about what
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  Speaker 3: the hookers tell the story and then keep them engaged.
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  Speaker 3: But that is obviously different for every single platform you use.
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  Speaker 2: So ten thousand jobs and apparently one point two billion
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  Speaker 2: dollars worth of money flowing around the economy because of
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  Speaker 2: these jobs, and they're all using the TikTok. Is this
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  Speaker 2: enough of a benefit to make up for the fact
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  Speaker 2: that the profits are repatriated overseas.
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  Speaker 3: I think there's no doubt that TikTok creates a lot
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  Speaker 3: of jobs in your zone, whether it's created agencies like
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  Speaker 3: us who are helping businesses all around New Zealand grow.
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  Speaker 3: Without the platform, you just don't have the opportunities for
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  Speaker 3: certain businesses to reach people. And when you look at hospitality,
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  Speaker 3: it's without a doubt one of the easiest ways of
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  Speaker 3: people now to research, like places to eat and things
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  Speaker 3: to do and all of that kind of thing. But
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  Speaker 3: then alongside that it's a massive research platform, so people
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  Speaker 3: looking at businesses to start how to start a business.
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  Speaker 3: You can think about like literally anything that you want
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  Speaker 3: to and then I guarantee there'll be a rabbit hole
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  Speaker 3: that you can go down on TikTok and it will
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  Speaker 3: be able to give you a lot of information. So
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  Speaker 3: when you think about research and all that, you can
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  Speaker 3: actually obviously advertise that niche quite heavily, Okay, and it's
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  Speaker 3: really really powerful.
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  Speaker 2: All I think you for your timelines Carrie, who is
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  Speaker 2: from squid Group and they do a lot of TikTok
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  Speaker 2: advertis
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