• by Laurie Sullivan  @lauriesullivan, March 14, 2024

Despite the possibility of a TikTok ban in the United States, the company continues attempts to justify its worth in the market.

This week it released a feature that allows creators to track trending search terms on the platform, as well as data from an Oxford Economic study that measures the impact generated by U.S. small and mid-size businesses in the U.S. on the platform.

Creator Search Insights highlights frequently searched topics. Creators can organize topics by category such as tourism or sports and tailor the content type with the “For You” option. They also can filter for “content gap” topics.

And while Creator Search Insights provides TikTokers selling products and services on the platform with information on trending content with the potential to boost visibility and engagement rates, the findings from the research conducted in the summer of 2023 shows that SMB marketing or advertising strategies on TikTok generated nearly $15 billion in revenue in 2023.

Small and medium-sized businesses used TikTok services to grow revenue and reach. Together the strategies supported a $24.2 billion contribution to U.S. the gross domestic product (GDP) and $5.3 billion in taxes to the U.S. government in 2023. 

The contribution to GDP from SMBs on TikTok was highest in the food and beverage industry, supporting $6.4 billion and 73,000 jobs in 2023. The health and wellness sector contributed $3.9 billion, while the business services sector contributed $3.6 billion, underscoring the diverse range of industries that thrive on TikTok.

The Oxford Economics research shows 224,000 jobs were supported by SMBs using TikTok as a platform to grow and expand their business. Nearly 40% of SMBs said TikTok is critical to their existence, which is home to seven million businesses and 170 million active users in the U.S.

The study, commissioned by TikTok in May 2023, positioned the company as a “dynamic economic engine that drives growth, fosters innovation, and creates opportunities for businesses and individuals nationwide,” the company said.

TikTok also claims diversity among TikTok users and SMBs. A recent survey from Pew Research Center (2023) found that adults from some minority ethnic groups are more likely to use TikTok compared with non-minority groups.

Hispanic adults are particularly likely to use the platform, followed by Black adults. Of the SMBs surveyed, 21% have an owner from a minority ethnic group such as African American, Latin or Hispanic, or Asian-American and Pacific Islander.

SMBs from minority groups report seeing their sales increase after promoting their products and services on TikTok—83% of African American have experienced this outcome at least once, while 86% Latino or Hispanic and 88% of Asian-American and Pacific Islander business owners have seen the same boost in business.

Some 45% of SMBs from minority groups say that TikTok enables them to establish lucrative brand partnerships and sponsorships that would have been more difficult to establish without the app.