Almost three quarters (73%) of marketing executives said a deal for Oracle and Walmart to buy TikTok would affect their advertising plans for 2021, according to a survey that online consulting exchange Vancery shared with Mobile Marketer. About two-thirds of the group said they're paying close attention to the TikTok deal, whose status is uncertain amid efforts to avoid a U.S. ban because of national security concerns.
Among the respondents who said the TikTok deal will affect their plans, the most common effects would be changes in ad products (94%), new consumer behaviors from increased TikTok usage (75%) and new products (38%), the survey found.
Oracle and Walmart's acquisition could impact marketers in several ways, with 86% of respondents saying they're concerned the TikTok deal will make Oracle a leader in advertising data, while only 41% said the deal gives Walmart a chance to overtake Amazon in e-commerce, the survey found.
Oracle and Walmart's pending deal to acquire TikTok's U.S. operations from Chinese parent company ByteDance could have a significant effect on many advertisers, Vancery's survey results suggest. A deal, which must be approved by the U.S. and Chinese governments, would give TikTok the chance to expand its U.S. audience even further and give mobile marketers another way to reach Generation Z consumers who have growing spending power.
Vancery's survey suggests Oracle and Walmart's acquisition would affect marketers in several ways. Because TikTok receives more data per minute than any other app, according an executive cited in the study, the platform could help to make Oracle a top source of consumer data for advertisers. That information would be especially powerful for brands that seek to reach TikTok's audience of younger consumers who are more elusive to other media channels. Executives expressed greater skepticism that TikTok would help Walmart to surpass Amazon in e-commerce, as the discount chain doubles down on online sales through initiatives such as its Walmart+ membership program.
(Source: Mobile Marketer https://www.mobilemarketer.com/news/tiktok-deal-could-affect-2021-ad-plans-for-73-of-marketers-survey-finds/586965/)