TikTok launched a “self-serve ad platform” and is pledging millions in credits to assist small brands during COVID—and lure them away from Facebook. After beta-testing the feature last year, the app is finally opening up its self-serve ad format (which is similar to YouTube and Facebook) to all businesses. The platform allows brands to instantly buy their own ad space through a “backend management tool” without having to contact a salesperson. TikTok has also launched a Back-to-Business program, pledging $100 million in ad credits to small businesses who have been impacted by the pandemic globally. Despite news swirling around about countries banning the app, the new platform could help put TikTok on a more “even playing field” against competitors and even lure small and mid-sized businesses away from Facebook, which several brands continue to boycott. (Tubefilter, CNBC)
