- Cash App, the mobile payment platform run by financial services company Square, has joined a growing list of brands running influencer marketing campaigns on TikTok.
- The company's #CashAppThatMoney campaign launched on TikTok in December.
- Cash App paid some creators thousands of dollars each, with one influencer marketing agent saying their client received $5,000 for a single post.
- Business Insider reviewed the campaign brief that Cash App sent to creators who were producing sponsored content for the company. In addition to offering hashtag and music guidelines for each post, the company provided creators with "starter ideas" for the types of videos they could make.
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Brands are leaning into influencer marketing on TikTok as the app's audience continues to grow globally.
The beverage company F'real Foods joined TikTok after seeing that users were already posting videos about its milkshakes. Fintech startup Tally discovered that TikTok ads were 300% more cost-efficient than Instagram for driving installs for its debt management app.
Cash App launched its influencer campaign on TikTok in December, hiring dozens of creators to make sponsored videos to promote its mobile payment app. Its stated goal to creators, according to a campaign brief reviewed by Business Insider, was to "enter TikTok with a fun challenge to kick off the holidays and extend into next year."
To help its campaign spread, the company worked with the musical artist and influencer, Shiggy, who had already written a song about Cash App in 2018. Shiggy has a background making viral content on social media.
While Shiggy wasn't initially commissioned by Cash App to write a song, he ended up connecting with the company on a sponsored content deal for its TikTok campaign through his music distributor, UnitedMasters. He re-released his single "Cash App" on streaming platforms like Apple Music and Amazon Music on November 27, 2019, two weeks before Cash App's TikTok campaign kicked off.
In its campaign brief, Cash App instructed creators to "create a TikTok with your best interpretation of the catchy song in everyday situations. And use the hashtag #CashAppThatMoney."
The company also provided a list of "starter ideas" for the types of videos a creator could produce:
- Making fun of how broke you are.
- Window shopping (online or in real life).
- When your friend clearly owes you money.
- When you win a bet by doing something dope.
Cash App paid some creators thousands of dollars each, with one influencer marketing agent saying their client received $5,000 for a single post.
A quick review of videos posted with the campaign's hashtag, #CashAppThatMoney, shows that many creators followed the company's suggestions.
For a complete breakdown of Cash App's influencer marketing campaign on TikTok, read our full story on Business Insider Prime:
How Cash App went viral on TikTok by leveraging an original song and hiring influencers who it advised to make fun of 'how broke you are'
For more on how brands and influencers are interacting on TikTok, check out these other Business Insider Prime posts:
- CASE STUDY: TikTok ads have been 300% more efficient than Instagram ones in getting new users for fintech startup Tally: As more adults sign up for TikTok, fintech brands are using influencer videos and its self-serve ad platform to advertise on the platform.
- A milkshake brand blew up on TikTok, and its 460,000 followers have changed how it approaches marketing and its target audience: With 460,000 TikTok followers, the milkshake maker F'real has built a larger following than national brands like Chipotle, Walmart, and Burger King.
- A TikTok photographer explains how he gained 3 million followers in 3 months and was able to quit his job as an insurance actuary: Alexander Stemplewski quit his job to focus on social media and photography. Here are the three ways he plans to earn a living as an influencer.
- How TalentX plans to rule TikTok, starting with 32 influencers and a Los Angeles mansion: TalentX Entertainment is eyeing brand partnerships, merchandising, live events, and television and film development for its roster of TikTok stars.
