TikTok is a hub for viral dances and entertaining short videos. It has evolved into a thriving marketplace where businesses can connect with a vast and diverse audience. TikTok's growth has transformed it into a global cultural force, with an estimated user base exceeding 1 billion people.
This immense reach, coupled with its highly engaged and trend-driven audience, presents a golden opportunity for businesses to showcase their products or services to a vast pool of potential customers.
In this article, we'll discuss if TikTok is a potential selling platform for small businesses. But first...
What is TikTok, and Why is it Popular?
TikTok is a social media app known as the "destination for short-form mobile videos." The platform gained rapid popularity and was the most downloaded app in 2020 and one of the most downloaded every year after.
People can share 15–60 second videos of anything on the platform. They can browse or scroll through the videos on their feeds to find their favorite material.
According to statistics, users spend about 52 minutes every day on TikTok. Although similar-functioning competitors like Triller and Byte may exist on the curve, TikTok monopolizes the social media industry for short-form video broadcasting.
Who Uses TikTok?
Gen Z and Millennials under 30 are usually attracted to this medium of short video content. Despite targeting young people, TikTok's user demographics are surprisingly diverse.
According to TikTok user data in the US, the percentage of teens and young adults is about 62%. In comparison, 7.1% of users are older than 50. It's not only popular in the US; TikTok is accessible in 141 countries and is among the top 25 apps.
Is TikTok Helpful for Small Businesses?
Despite the platform's reputation for its funny clips and viral challenges, TikTok has become a valuable platform for small businesses looking to expand their reach.
Regardless of whether they initially intended to buy while using the app, 67% of users claimed that TikTok motivates them to shop. This number and the platform's 30.8 million average daily visitors make it highly likely you'll be successful in selling on TikTok.
So, is TikTok good for business? The platform is now firmly established as a suitable launch pad for your brand thanks to the hashtag #smallbusiness, which has amassed 33.8 billion views.
Creating a TikTok small business account should be a part of your lead generation plan. This is due to the unmistakable sign of search intent and TikTok's extensive marketing tools.
TikTok Ads
There are several different ad forms at the center of TikTok's advertising engine, but in-feed ads are by far the most popular.
In-feed ads are the most basic and affordable method for businesses to advertise on the platform, which appears as users scroll through their news feeds. With only a little Sponsored tag beneath the caption to distinguish them, in-feed advertisements are intended to blend in seamlessly with the TikTok user experience. A call-to-action button appears that directs users to the advertiser's website.
Creating an in-feed ad through TikTok Ads Manager is easy, which gives various ad placement options, including detail page, narrative, post-roll, and in-feed, based on your campaign goals.
Spark Ads is another ad choice. These advertisements are intended to increase brand awareness and reach. They display in a full-screen style, immediately grabbing the viewer's attention.
How Much Does Advertising On TikTok Cost?
The cost of advertising on TikTok varies depending on your content strategy and many other factors.
According to some sources, a TikTok ad campaign starts at $10 per 1,000 views, but they require you to spend at least $500 per campaign. However, the target audience, bidding technique, and ad placement employed for the campaigns may affect the actual CPM.
Many factors influence Ad costs, so you need to jump into it and play with the software to learn how it works and how much stuff costs.
Other Marketing Strategies
Social media is a haven for qualified leads. Thus, this advertising component needs a workable and scalable lead-generation approach. You may convert user interest into a prospect that advances to compel them to buy your product by creating intriguing content.
Here are some strategies you may use to promote your brand on TikTok:
Narrate Your Brand Story
Customers seek a strong bond with the brands they use. A product's worth is increased by its backstory and a deeper understanding of the people who made it.
Businesses that used narrative in their marketing saw a significant 30% increase in conversions. This allows for a complete understanding of your product and fosters trust between your company and its target market.
Hence, a key component of TikTok marketing for small businesses is adopting video content highlighting your company's history and significance.
Befriend or Hire Influencers
On TikTok, there are more than 50,000 reliable influencers with at least 1,000 followers and growing. These accounts have built up a loyal fan base and have a track record of influencing consumer choices. As a result, forming alliances with these creators can broaden your audience, boost brand recognition, and encourage sales.
You can collaborate with TikTok creators and influencers to promote your brand using TikTok's built-in Creator Marketplace. It's crucial to consider how similar these influencers' audiences you choose to collaborate with are to your target audience.
Hashtag Challenges
Branded hashtag challenges are among the most popular aspects of TikTok marketing for small businesses, with a median engagement rate of 17.5%. This strategy may boost brand engagement by making it simple for your company to fit into the platform's culture and enhancing interaction.
Your company has the chance to interact with its audience through the development of user-generated content, and you can also gather content that can be used in various other campaigns and platforms.
How-to Videos
Educating followers is a smart way to demonstrate your knowledge and increase brand authority within your business. The most straightforward yet efficient approach to accomplish this is by making how-to videos.
It’s a good idea to begin by picking a problem your audience may have, then showing them how to solve it in a few easy steps. These videos will become more shareable the more innovative they are.
Before and After Shots
On TikTok's short-form video platform, before-and-after transition videos are especially enjoyed since they highlight immediate gains that potential customers may make for themselves.
People are compelled to stay briefly when they see this information because it piques their curiosity. The hashtag "before and after" currently has 26.7 billion views.
Show Behind-the-Scenes
Behind-the-scenes content succeeds in grabbing attention because consumers love the chance to obtain an exclusive glimpse into how things work in a company.
As users will respect your willingness to present the more "unpolished" side of your brand, helping to develop a perception of authenticity, this will help set your company apart from rivals.
Consider including office footage, experiences about times your company failed and how you overcame them, or details about how your product is made.
The Bottom Line
In conclusion, TikTok offers an exciting and rapidly expanding marketplace for small businesses to showcase their products and connect with a vast audience. The platform's immense reach, highly engaged users, and trend-driven culture make it a promising avenue for driving brand awareness, boosting sales, and fostering customer loyalty.
However, it's crucial to approach TikTok selling with careful planning and strategic execution. Before diving into the TikTok ecosystem, small businesses must consider their target audience, product fit, and brand identity.
Understanding the platform's demographics, content formats, and algorithmic trends is vital to creating compelling and shareable content that resonates with TikTok users.