HCM CITY: The popular short video platform TikTok announced last week that it is offering an ad credits package worth US$1 million to support small and medium-sized enterprises (SMEs) to promote their advertisement activities on the platform.
This package is part of a $12.2 million investment that the company has allocated to support SMEs in Southeast Asia since mid-2023.
In the initiative, the company organised the SMB Summit 2024 in HCM City, connecting SMEs to share business experiences and develop e-commerce activities in the second half of 2024.
During the summit, TikTok introduced several methods to assist companies in advertising their products.
Hưng Huỳnh, country head of SMB at TikTok Vietnam, highlighted: “While the online commerce market remains wide open, the business development potential of the SMB community has not been fully utilised, primarily due to limitations in human resources, tools, and digital transformation skills within businesses.”
Looking ahead, the company plans to continue leveraging strategic partnerships with Government agencies, organisations, and partners to enhance advertising scale, promote Vietnamese products, services, and brands, and contribute to the sustainable development of the SMB community and the Vietnamese digital economy as a whole.
The company will collaborate with the Steering Committee of the “Vietnamese Prioritise Using Vietnamese Goods” campaign, professional associations, and local authorities to offer support ranging from $100 to $200 in advertising credits for each promotional video produced by partner organisations showcasing Vietnamese businesses, products, and services.
In addition to providing advertising credit support, the company plans to conduct comprehensive training programmes to enhance digital transformation capabilities and establish brand identity for local sellers nationwide.
These initiatives underscore TikTok’s commitment to helping SMEs reach new customer bases and increase brand recognition on the digital platform.
A report by Kantar on TikTok user shopping behaviour in 2024 revealed that 98 per cent of shoppers discover new brands or products through the TikTok platform.
Additionally, 72 per cent of users indicated that they make purchase decisions after seeing products on TikTok. Another study by Nielsen in 2023 found that TikTok’s return on ad spend (ROAS) ratio is twice as high as other media channels.
