As a small business owner, I regularly discuss new and innovative marketing ideas with my peers and recently, the same question keeps popping up – Should my business be on TikTok?
TikTok has officially become one of the top 10 most influential video-sharing social media networks in the world and with over 1.7 Billion downloads worldwide, it has become a place of unlimited attention.
The 800 million active users spending on average over 45 minutes per day, have made TikTok a rather lucrative place for thousands of businesses.
While TikTok seems to be filling a void left by Vine for Generation Z, business owners are quickly adapting their marketing strategies to meet with the new shift in consumer attention.
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So, if you are a business owner looking to implement TikTok into your marketing strategy, I would recommend that you read the entire article.
In the next 5 to 10 minutes, you will not only find essential information about TikTok and how your competitors are using the platform, but how to get started and advertise/promote your business effectively on TikTok.
If you are looking for something specific within this blog, please use the contents table below to navigate the article to your desired piece of information.
What is TikTok?
Now that you have an idea of how big TikTok is, let’s go over what TikTok is as an app and what made it a market leader in such a short time.
TikTok is an Android and iOS platform where users can create short, bite-sized videos to share on their profiles.
Those videos can be between 3 – 15 seconds long and users can also create clips that are up to a minute in length, while using popular music and sounds that is available within the app.
TikTok might look oddly similar to Music.ly in terms of what you can do within the application and that is because in late 2017, TikTok’s parent company ByteDance, purchased Musical.ly to gain direct access to the attention of the US market that Musical.ly had acquired.
After heavy advertising and millions of dollars spent on promoting the platform to the western world, TikTok grew to become what it is today.
Who is using TikTok?
TikTok has really hit the nail on the head when it comes to attracting and retaining the young generation to a platform.
While some adults may have never heard of TikTok, this certainly isn’t the case for the under 30’s population who are responsible for approximately 50% of the total platform users.
Now, of course there are late boomers that have found the entertainment value in TikTok and have become regular consumers, but it very much remains a platform that is dominated by the youth, both from creator and consumer point of view.
Where is TikTok most popular?
TikTok is recognised throughout the world, meaning, wherever you are, the likelihood of hundreds of people using the platform in your town or village is high. But, there are certain countries where TikTok is dominating the social media market.
For example, TikTok is most popular among the Chinese population. Over 57% of TikTok users come from China and those same users are also are responsible for every 8 out of 10 minutes spent on TikTok.
While the larger part of the other 43% of TikTok users are spread across India, USA, Turkey, and Russia, it is important to remember that there are still tens of millions of people using the app across Europe and South America that your business can advertise to and reach.
Advertising on TikTok
What does TikTok mean for you as a business owner?
Well, depending on your business and industry, you could either create videos of your products or services, or pay influencers with an established personal brand to promote it for you in a creative way.
As the platform is relatively new, there isn’t a set standard so what many have done is improvise until something works.
TikTok hashtag challenges started to become a popular trend as they allowed a brand to use influencers to set hashtag trends, that would set a theme that relates to the brand.
This way, once the fans of those influencers saw what their favourite celebrities new dance move is like, they would replicate it and use the hashtag to take part and be seen by everyone using or searching the hashtag.
Statistics show that TikTok influencers with 2.5 million followers charge roughly between $500-$800 per video post.
If you don’t want to make use of influencer marketing, you can simply make use of screen pop up ads and video adverts which roll out in-between content in the user’s timeline.
The last alternative is for you to create your own account and begin to make content. If you create content that fits for the platform, you will be in for a surprise how quickly your business can take off.
Here are a few questions you should ask yourself before advertising on TikTok:
- Is my target audience on the platform?
- How can I promote my business in a fun and platform-friendly way?
- Am I after exposure or immediate sales?
- Do I want to focus on creating the content or leave it up to the influencer?
Businesses Already on TikTok
Although influencer marketing hasn’t matured yet properly on TikTok, timeless brands with large budgets like Coca-Cola, Nike, and Google are already spending millions on the platform in collaborations with social media stars.
For example, the popular clothing brand Guess launched #InMyDenim campaign which was supported by popular content creators like @ourfire and @madison_willow. This made the campaign go viral on TikTok with over 38 million views.
Gymshark is another perfect example of a company that has taken the attention of customers from social media and turned it into a very profitable business.
If you go on their TikTok profile, you will see workout videos by their sponsored athletes wearing clothing from Gymshark while completing fitness challenges and other engaging activities that their fans can try out at home.
They also ran the #Gymshark66 hashtag challenge where their followers had 66 days to document a lifestyle change to get in shape.
Although this type of promotion may not work for every brand, it gives you a good indication of how powerful TikTok can be and how much exposure it can bring to a brand.
If you are a business that is targeting a younger demographic, you definitely want to take a look TikTok and start thinking about implementing the platform in your overall marketing efforts.
Should my Business be on TikTok?
Before investing money into a social media platform, I always recommend people to spend a couple of hours consuming content. This way, you will get an idea of how the platform works and why it works the way it does.
You may be asking yourself, what do I get from watching teenagers dance to random songs over and over again?
By staying on the platform and actually using it, you as a consumer will see how the platform is used differently as compared to Instagram, Facebook, Twitter, Reddit and other social platforms.
You will also see how your potential consumer engages with the content and what their behaviour is like. You can then reverse engineer how they consume content on TikTok and market to them in a way they can’t resist.
For example, if you owned a clothing business that targets the young generation, you absolutely must consider TikTok.
You can simply pay an influencer to wear your clothes in their next video. If you go in the comments of some popular dance videos, you will be surprised how many people are asking where they can buy that same outfit from.
On the other hand, TikTok might not be the greatest of platforms to advertise your accountancy business as your demographic is simply not likely to be there, yet.
I would recommend that you speak with a social media expert that specialises in the TikTok platform as they can best guide you on how you can most effectively spend your budget on TikTok.
Benefits Of Using TikTok For My Business
There are many reasons why your business should be on TikTok.
Here are the top 5 reasons:
- A lot of brand exposure, meaning your business can rapidly grow in a short period of time.
- Under-priced consumer attention, meaning that the cost to hire a popular influencer is significantly cheaper than Facebook Ads or Instagram influencers.
- Friendly algorithm, allowing you to grow quickly even when your account is new.
- Content doesn’t have to be professional; it just needs to be catchy, unique and catered to the platform.
- It is free to use.
If you aren’t taking advantage of trending and free-to-use platforms like TikTok, you could potentially be losing out on a lot of sales and exposure in the near and distant future.
Before you get started, you must know what you want to achieve and what path you should take.
If you are a relatively small business without a lot of marketing budget, perhaps you should stick to creating your own content. You will be surprised with how quickly good quality content can pick up on TikTok even if you have 0 followers.
On the other hand, if you are a large business with more money to spend, you should create an account and start exploring the platform and begin looking for influencers that would be suitable for your business and industry.
For example, dancing videos done by teenagers are great for clothing brands while sharing branded travel videos on popular travel profiles is ideal for travel agencies.
As a general rule of thumb, here are some things you should do before you invest money on TikTok marketing projects.
- Consume a lot of content
- Speak to different kinds of influencers and brands on the platform
- Watch marketing tutorials for the TikTok platform on YouTube
- Sign up to a TikTok marketing course
- Create content for your brand
- Speak to a marketing expert
Whatever your business is, with a little bit of planning and help of an expert, you can really help your business gain some traction.
In conclusion, you cannot deny how important TikTok is for the culture of the youth generation. It has entirely shifted their consumer behaviour to a brand new place opening opportunities not just for the general teenager but for businesses too.
To answer this article title, yes, your business should definitely be on TikTok, especially if you are selling a product or a service to the under 30s population.
There are thousands of ways to make a campaign go viral. All you need to do is figure out the most effective way of doing that for your business.