Insights for Entrepreneurs

Short Video platforms: Detailed Market Analysis 2023

Everything to know about TikTok Clone app

7 min read

Short-form videos are taking the social world by storm. Key players in the social media markets are investing heavily in supporting the trend. Recently, YouTube introduced ‘Shorts,’ and millions of people have already used it.

And more than that, due to this craze for short videos, marketers are advertising their business on these platforms to get more ROI compared to other platforms.

According to Hubspot, more than 30% of social media marketers plan to invest in short-form videos.

Here’s a list of the best short-form video platforms where you can be a creator or get inspired to create your own platform.

What are short-form videos?

Short-form videos are videos that have a runtime of 1 to 2 minutes. They are popular because of the shorter attention span and time constraints, as people are busy now more than ever.

Why are short-form video platforms popular?

People are so short on time, and they want to consume things at a faster rate. 15-minute to 1-hour-long videos are boring and often don’t have as much value as 1 or 2-minute short-form videos.

It made the short-form content’s popularity skyrocket. And more creators are joining short video platforms like TikTok and Instagram as they are relatively easy to create and monetize.

Also, short videos are more straightforward and offer direct solutions to user problems. Hence they produce better ROI compared to other content types.

Short-form video market and trends

Short-form videos have a higher reputation among content creators and marketers than other content formats.

Now, most brands are taking advantage of it and adapting to the trend. Brands are creating filters, sounds, and quirky challenges to get them face-to-face with their target audience.

Here are some of the stats and claims to back that short-form video platforms are here to stay:

85% of marketers say short-form content performs well on social media platforms.

Short-form video searches are skyrocketing, with a staggering 194% in the past year.

And here are some of the trends to hop in to create better short video content.

Brand challenges

Brand challenges are campaigns created by brands to spark engagement and brand awareness among their audience. Brands use branded or quirky hashtags to let the audience use the hashtag to create user-generated content aligned with your brand.

Colgate’s #MakeMomSmile is a great example of brand challenges.

AR filters

AR filters provide an immersive experience to the users, and brands create their own branded AR filters to drive engagement and stand out from the rest.

Brands like Netflix, Nike, Gucci, Lego, and Adidas, are already creating their own AR filters.

Soundless videos

92% of viewers are watching videos without sound. So creating short-form videos with captions is a great way to ensure better engagement.

Videos with captions help with accessibility. And people won’t miss a word and listen to what you have to say.

BTS brand videos

People (at least me 😉) are curious to see the behind-the-scenes works of their favorite brands. They want to know the people behind the outstanding product they use.

You can share videos of your team interview, your inventory, your company values, or even a few minutes of video of your CEO talking about the pain points of your customers would help.

5 best short video platforms to look forward to in 2023

Here are the 5 best video-sharing platforms that you can use to share your short videos:

1. YouTube Shorts

Youtube Shorts is the latest addition to YouTube’s arsenal, and it’s going quite well for them. It receives almost 15 billion views daily and is growing fast capitalizing on its total active users.

YouTube has a large audience base and it isn’t hard for them to funnel those audiences into using their new-born ‘Shorts’ platform. Also, people can repurpose their long-form YouTube videos into shorts, which is less time-consuming and can yield better ROI.

Video length: 60 seconds.

2. TikTok

TikTok is the OG player in the short-form video market and they had a huge first-entrant advantage. And yes, they capitalized it much better. It has over 1 billion monthly active users and is growing at a faster rate.

Video length: 5 to 120 seconds.

3. Instagram Reels

Like YouTube, Instagram scaled its Reels popularity by channeling its existing user base into adopting this feature.

Combined with their shop feature, people are either viewing or buying the product shown in the reels, making it a great platform for businesses.

Video length: Up to 90 seconds

4. Triller

Triller was launched as an AI-powered video editing platform for creators and now competes against a giant like TikTok as an alternative. It has around 26.7 million users and is growing fast due to the ban of TikTok in several parts of the world.

5. Likee

Likee is yet another app resembling TikTok, which allows users to create, edit, and share short videos on their platform. Likee has a 17+ age restriction and has around 150 million monthly active users.

How do you make a short video app?

For now, you have an idea of creating an app like TikTok, in this section, we will discuss how you can.

Here are the steps you should follow to get started:

  1. Do market research.
  2. List your features.
  3. Design your app.
  4. Pick a technology.
  5. Build the app.
  6. Submit your app to stores.
  7. Market your app.
  8. BONUS — Stay till the end to reveal.

1. Market research

Competitive market research helps you validate your idea and identify the needs of your potential customers. You get to understand how your target audience feels about your competitors and how you can fix those pain points with your application by doing market research.

2. List your features

Now, you have to translate all the pointers you had from your market research on paper to features. Write all the features you’d want to incorporate into your app. Now, add priority tags to your features to create an MVP. You can add the rest of the features to your app later.

3. Design your app

Now, you have to start with designing your app. Start with mockups and wireframes and design your app graphically using various design tools like Figma. Keep in mind the UX of the app, it has to be minimal and easy to use.

4. Pick a technology

The next step is to pick a technology to create your short video-sharing app. The technology you choose will help reduce your development cost, scale your app as the user base grows, maintain your app easier, and more. So choose your tech stack wisely.

5. Build the app

You have the features, design, and technology you can use to build the app. Now it’s time to actually build the app. Build the MVP using your favorite technology and add more features as you grow.

6. Submit your app to the store

Launch your app to respective stores of Android and iOS to let your users download them to their devices. You can follow these tutorials to submit your app to App Store and Play Store.

7. Market the app

An app without a user base is like a post office without letters to deliver. In order to acquire users for your app, you have to market the app effectively. Create a marketing plan to generate demand for your app and use that demand to drive revenue.

8. BONUS – Thanks for staying till the end.

Imagine doing all the above steps as a solo startup owner or a young entrepreneur. It’d be a nightmare, right?

To help people like you, companies like Appkodes have created a readymade MVP platform like TikTok which you can buy, customize, and launch almost immediately.

The readymade app will have all the essential features you need to get your few thousand customers and can scale as your business grows.

Why wait? Launch your TikTok-like business with us now.

How much does it cost to build a video app?

To create an app like TikTok from scratch following the above-mentioned steps would cost you around $50000 for both iOS and Android platforms.

💰 But you can save almost 50 to 60% of that cost by using a readymade tiktok clone.

See you in another article.

Phew! Long article, isn’t it? But according to statistics, all ‘Great’ content is lengthy. Do you know why? Because they offer a crazy ton of value to their readers.

With that hope, I end this article. If you have any questions regarding the short video app development, feel free to get in touch with us via WhatsApp.

👋See ya!

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ABOUT THE AUTHOR

Natheem has prolific experience creating content that resonates with the audience and ranks on search engines. He specializes in SEO marketing. His work has been published in YourStory and other reputable publications.