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Laurence Carey: Squid Group Founder on TikTok reportedly boosting local economies by $1.2 billion · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: So TikTok advertising apparently is boosting New Zealand's GDP by
• 0:03
  Speaker 1: one point two billion dollars. The report came initially from well,
• 0:07
  Speaker 1: of course TikTok, but it's being supported by the guys
• 0:09
  Speaker 1: at Informetrics and Brad Olsen and they say advertising on
• 0:13
  Speaker 1: this social media platform is now an integral part of
• 0:15
  Speaker 1: New Zealand business. And Lawrence Kerry is the founder of
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  Speaker 1: local TikTok advertising agents Squid Group and joins me. Now, hello, Lawrence, Hey,
• 0:24
  Speaker 1: how are you going good? How big is TikTok in
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  Speaker 1: New Zealand.
• 0:28
  Speaker 2: TikTok's definitely are major platform now across both organic and paid.
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  Speaker 2: But yeah, I definitely say it's integral to a lot
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  Speaker 2: of businesses now and the main strategies that they kind
• 0:41
  Speaker 2: of want to grow with.
• 0:43
  Speaker 1: What surprised me three hundred and nine thousand key week
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  Speaker 1: businesses using the platform each month to promote themselves, connect
• 0:50
  Speaker 1: with customers and support their livelihoods. That's a lot of companies.
• 0:55
  Speaker 2: Yeah, and I think some businesses, like you think, they
• 0:59
  Speaker 2: choose different strategies to kind of grow and if you
• 1:02
  Speaker 2: do it right on TikTok, you can do a lot
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  Speaker 2: with just out actually doing any paid media. But also
• 1:11
  Speaker 2: it's an easy way into social media if you're just
• 1:13
  Speaker 2: producing lots and lots of content.
• 1:15
  Speaker 1: Yes, the warehouse has done it and they'd been a
• 1:17
  Speaker 1: great success. So tell me how do you make a
• 1:19
  Speaker 1: success of TikTok advertising? See this feels a little bit
• 1:22
  Speaker 1: like the turkey praying for Christmas, because I'd rather you
• 1:25
  Speaker 1: actually did some hands some radio. But there we go.
• 1:27
  Speaker 1: How do you make a success out of TikTok advertising?
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  Speaker 2: I think the main thing is not just rehashing the
• 1:35
  Speaker 2: same content you use on every other platform. So, like
• 1:38
  Speaker 2: any sort of advertising, you have to be specific around
• 1:42
  Speaker 2: how you're advertising. So when advertising on TikTok, you need
• 1:46
  Speaker 2: to make sure that you advertise how the people using
• 1:49
  Speaker 2: the platform want to see the platform. So if you're
• 1:52
  Speaker 2: advertising on Facebook, for example, you produce certain types of content,
• 1:56
  Speaker 2: but for TikTok, it's a very specific style and quantity
• 2:01
  Speaker 2: of content that you need to do. And it's all
• 2:03
  Speaker 2: about testing.
• 2:04
  Speaker 1: And you're going to shoot yourself in the foot if
• 2:06
  Speaker 1: you basically put a standard TV add on TikTok, everyone's
• 2:09
  Speaker 1: going to go. You need to have compelling content.
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  Speaker 2: One hundred percent, and there needs to be that same
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  Speaker 2: thing exactly like radio and billboards and any other sort
• 2:19
  Speaker 2: of advertising, you kind of need to think about what
• 2:22
  Speaker 2: the hookers tell the story and then keep them engaged.
• 2:26
  Speaker 2: But that is obviously different for every single platform you use.
• 2:29
  Speaker 1: So ten thousand jobs and apparently one point two billion
• 2:32
  Speaker 1: dollars worth of money flowing around the economy because of
• 2:35
  Speaker 1: these jobs, and they're all using the TikTok. Is this
• 2:39
  Speaker 1: enough of a benefit to make up for the fact
• 2:41
  Speaker 1: that the profits are repatriated overseas.
• 2:45
  Speaker 2: I think there's no doubt that TikTok creates a lot
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  Speaker 2: of jobs in New Zealand, whether it's creators agencies like
• 2:53
  Speaker 2: us who are helping businesses all around New Zealand grow.
• 2:57
  Speaker 2: Without the platform, you just don't have the opportunities for
• 3:01
  Speaker 2: certain businesses to reach people. And when you look at hospitality,
• 3:06
  Speaker 2: it's without a doubt one of the easiest ways for
• 3:08
  Speaker 2: people now to research, like places to eat and things
• 3:12
  Speaker 2: to do and all of that kind of thing. But
• 3:14
  Speaker 2: then alongside that, it's a massive research platform, so people
• 3:19
  Speaker 2: looking at businesses to start how to start a business,
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  Speaker 2: You can think about like literally anything that you want
• 3:28
  Speaker 2: to and then I guarantee there'll be a rabbit hole
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  Speaker 2: that you can go down on TikTok and it will
• 3:34
  Speaker 2: be able to give you a lot of information. So
• 3:38
  Speaker 2: when you think about research and all that, you can
• 3:40
  Speaker 2: actually obviously advertise that niche quite heavily, Okay, and it's
• 3:44
  Speaker 2: really really powerful.
• 3:46
  Speaker 1: All I think you for your timelines Carrie, who is
• 3:48
  Speaker 1: from Squid Group and they do a lot of TikTok advertising.
• 3:52
  Speaker 1: For more from Early Edition with Ryan Bridge.
• 3:55
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• 3:58
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