TikTok kicked off Advertising Week in New York with a flurry of announcements covering artificial intelligence-powered automated performance tools, enhanced measurement capabilities, and new privacy technologies for advertisers.
“TikTok is building for the future,” global head of monetization product solutions and operations David Kaufman said in a statement. “We have been listening, learning, and innovating with our advertiser partners to continuously develop solutions that deliver performance. Our goal with these new solutions is to empower brands to engage their communities on TikTok and achieve business results.”
The platform’s new Smart+ suite of tools uses the TikTok Symphony AI capabilities the company introduced at its fourth annual TikTok World event in May to automate the performance bidding process across targeting, bidding, and creative.
Advertisers input their assets, budget, and targeting goals, and Smart+ uses TikTok Symphony to create or choose the best asset, selects the best audience, and serves the ads to the users most likely to convert.
Smart+ is launching with four available objectives: Smart+ Web Campaigns to drive traffic and lower-funnel actions, including sales, on advertisers’ websites; Smart+ Catalog Ads, delivering relevant product recommendations to users based on their interests, intent, and actions, also driving lower-funnel outcomes; Smart+ App Campaigns, geared toward application installs and conversions; and Smart+ Lead Generation Campaigns, designed to convert people who have expressed interest into high-value customers.
TikTok said its internal data showed advertisers using Smart+ Web Campaigns to optimize for value seeing improvements of up to 52% in return on ad spend.
“Adopting a fully automated solution that optimizes targeting, creative, and campaign performance has led to a 50% reduction in cost per acquisition, a 47% increase in conversion rates, and a 42% improvement in ROAS [for RayBan],” Roberta Atzori, performance marketing manager at EssilorLuxottica, said in a statement.
