Do you use TikTok? If so, you are a part of a community of 1.5 billion monthly users around the world!
TikTok was launched in 2016 by Chinese tech company Bytedance. In 2017 TikTok went global and has since grown to become one of the most popular social media apps in the world. Downloaded more than 3.5 billion times since launch, the app regularly garners 500 million additional downloads each quarter, and was the most downloaded app of 2022!
TikTok may have started with a young audience of teens, but it is far from being just a teen app. In the U.S., the age range of 25-34 year-olds accounts for nearly 25% of its users, an important demographic for brands and advertisers. And, 18% of all Internet users use TikTok. TikTok is available in 154 countries and 90% of its users access the app daily.
TikTok is so valuable to brands that many companies are now hiring TikTok ‘interns’ to help them reach users. Job sites have listings for “TikTok content creators.” These creators are being asked to both make and appear in videos promoting various products and retailers. Companies hiring this expertise include Claire’s, Whole Foods, Travel Pro, and even Rosedale Mall located in Roseville, Minn. Brands are hiring college students and other young people to help them successfully navigate TikTok, and create an impactful campaign.
We all know that the pet industry is booming. There are more pets in homes than ever before!
And that means people need more pet products such as foods and toys. According to Morgan Stanley financial services company, the pet industry is expected to grow to an estimated $275 billion by 2030!
This growth also means that having more pets bring on more pet illnesses for owners to be concerned about. And visits to the veterinary clinic can be quite costly and time consuming. What if pet owners could get a diagnosis for their furry friends at home? It has the potential of diagnosing pet illnesses earlier, and at a lower cost.
That’s the premise behind a Minneapolis-based company named ‘My Simple Pet Lab’. The company makes in-home pet diagnostic tests for dogs and cats including stool tests, ear infection tests, and more. The tests were designed by veterinarians and can be used by either vets, groomers, or pet parents. Tests can be done at home, sent to the lab, and results are emailed to you within days. It gives a test result easy to understand and share with your vet automatically online.
Distribution is a key goal for the company and tests are being added to Target stores in addition to Walmart and Amazon, plus through various vet clinics, boarders, and groomers.
A healthy pet means a happy home.
Group Activities and Discussion Questions:
Discuss how to build and use a SWOT analysis grid: strengths, weaknesses, opportunities, and threats (internal and external factors).
For MySimplePet products, break students into teams and have each team build a SWOT analysis grid.
Strengths: what is company good at?
Weaknesses: what needs work?
Opportunities: what is going on in marketplace?
Threats: what should company be wary of?
Based on the analysis, what are the issues and risks that might occur?
Debrief by building SWOT analysis grid on the white board.
Source: Williams, N. (15 December 2022). Make of in-home diagnostic tests for pets ready to grow. Minneapolis Star Tribune.
Everyone makes mistakes. Every company makes mistakes. It happens. But what should happen after the mistake? Should apologies be made? How should the apology happen?
It’s not unusual for mistakes to happen inadvertently. This past holiday season Graza, a startup company that produced squeezable bottles of extra-virgin olive oil, made a mistake. It shipped holiday gifts late – and badly packaged – disappointing many customers and turning away prospective new customers.
The company’s chief executive decided to take the apology into his own hands and apologized to every customer who had purchased the products within the previous 60 days and asked for a second chance. He sent a 835-word apology to more than 35,000 customers. He wrote it honestly and didn’t worry about crafting the perfect letter. It came from his heart.
The results were also heart-warming. Within minutes of sending the message, hundreds of customers responded, thanking him for his honesty. Most of the customers also pledged to continue to support Graza and buy its products.
What makes a good apology?
Say you’re sorry for what you did.
Show you understand why it was bad.
You can explain, but don’t make excuses.
Say why it won’t happen again.
And offer to make up for the mistake.
Mistakes happen. Apologies should follow.
How would you apologize?
Group Activities and Discussion Questions:
Discuss what happens when a company makes an error in its marketing or business.