TikToking the World: Decoding the New Age of Content with Shant Oknayan
In the latest episode of Couchonomics, host Arjun sits down with Shant Oknayan, the Shant Oknayan, Head of Global Business Solutions for Asia-Pacific, Central & South Asia, Middle East & Africa - TikTok. Shant masterfully elaborates on the changing paradigms in the tech world, focusing on the transition from search-based to content-driven platforms. The pair explore TikTok's role in this new era and how it has become more than just a platform for viral dance videos—it's a hub for 'shopper-tainment,' communities, and authentic brand messaging.
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TikTok Beyond Entertainment
The Digital Revolution has entered the Age of Content, and TikTok is its shining knight.
In the latest episode of Couchonomics, host Arjun sits down with Shant Oknayan, the Shant Oknayan, Head of Global Business Solutions for Asia-Pacific, Central & South Asia, Middle East & Africa - TikTok. Shant masterfully elaborates on the changing paradigms in the tech world, focusing on the transition from search-based to content-driven platforms. The pair explore TikTok's role in this new era and how it has become more than just a platform for viral dance videos—it's a hub for 'shopper-tainment,' communities, and authentic brand messaging.
As a company, TikTok is moving far beyond entertainment, venturing into realms like commerce, education, and community building.
Shant outlines how TikTok aims to expand its already burgeoning ecosystem, touching on strategies to supercharge the platform’s business and content offerings. With a focus on 'shopper-tainment,' various communities, and authentic creator-led branding, TikTok aims to redefine what we understand by digital commerce and engagement.
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Shant Oknayan – A TikTok Visionary
Shant Oknayan is not just a business executive; he's a digital luminary.
With a career spanning over two decades, Shant has led digital and business development strategies for giants like Facebook (now Meta) and Google. His subject matter expertise has made him a vital component of ByteDance’s vision for TikTok in Asia-Pacific, Central & South Asia, Middle East & Africa.
His experience is as rich as his educational background.
A double Masters holder from MIT and Imperial College London, and an alum of the Harvard Business School YPO Presidents’ Program, Shant brings a mix of practical wisdom and academic prowess to the table. His past involvement in advisory roles for startups and governments alike suggests a depth of understanding that few possess.
The Age of Content
Machine learning is rewriting the rules of content discovery.
The age of content is upon us, and it is characterized by algorithms that are smart enough to predict user needs. Shant emphasizes how TikTok’s machine learning is proficient in serving you the most relevant content, irrespective of its source.
TikTok has successfully democratized content creation and consumption.
Through various content categories like 'BookTalk,' 'BeautyTalk,' and 'FinTalk,' TikTok has managed to not only democratize content but also form vibrant communities around them. With billions of views on these topics, TikTok demonstrates its potential to be much more than a short-video app.
Commerce and Branding
Entertainment comes first; sales follow.
Brands that have engaged authentically with TikTok's community-driven model have reaped immense benefits. Shant highlights the case of Deniz Bank in Turkey, which acquired 30% of its net new customers via TikTok campaigns. Creative resonance is the new marketing paradigm. According to Shant, it's time for a 'creative renaissance.' Brands should focus on crafting marketing messages that resonate with consumers on a day-to-day basis. No longer can businesses solely rely on big event-focused campaigns.
Creators, not influencers, are the soul of TikTok.
Shant draws a fine line between influencers and creators, asserting that the latter builds upon their passion, thereby adding value to the community they are a part of. Consumer trust hinges on authenticity. Data suggests that consumers find creators more approachable, informative, and believable compared to traditional brands. This lays the foundation for the future of brand messaging and customer engagement.
Learning is a cornerstone of TikTok's engagement model.
The platform has dedicated feeds for STEM and has partnered with educational institutions to offer bite-sized learning content, demonstrating its utility beyond entertainment. Educational content is gaining traction on TikTok. Shant points out that the hashtag #LearnOnTikTok has almost 600 billion views, emphasizing how TikTok's algorithm recommends not only entertaining but also educational content to its users.
'Shoppertainment' & Safety
'Shoppertainment' is the future of online commerce.
Shant introduces this snazzy term to describe the convergence of shopping and entertainment, saying that the next-generation of commerce will be experiential rather than transactional. Safety and relevance are two sides of the same coin. In a platform as large and diverse as TikTok, maintaining the safety of the community while ensuring the relevance of content are paramount concerns.
TikTok is a multi-generational platform.
Contrary to popular belief, the majority of TikTok users are above 25. This reinforces the platform's potential to engage a broad demographic.
Conclusion
TikTok is evolving into a holistic ecosystem.
The platform is on a steadfast journey to go beyond short-form videos, aiming to be a leader in content, community, commerce, and even education.
Understanding TikTok is crucial for the new age of digital interaction.
The platform is not just shaping the future of social media; it's shaping the future of how we interact, learn, and shop online. With TikTok at the helm, we are indeed entering a new age—an age where content is king, communities are the loyal subjects, and commerce is the ever-expanding empire.
Learn more about open banking and open finance by checking out this exciting episode of Couchonomics with Arjun. Join us as we chat with Shant Oknayan, the Head of Global Business Solutions for Asia-Pacific, Central & South Asia, Middle East & Africa - TikTok, about the future of finance. So, if you're interested in staying up to date with the latest trends in fintech and finance, be sure to listen to the latest episode of Couchonomics with Arjun today!