By now I’m sure you know how much I love TikTok. You’ve probably heard a lot of other people talking about it as well. Maybe it’s good, maybe it’s not so good, but as a business owner, you probably have the following pressing questions:
- What is TikTok?
- Do I have to be on it?
I’m here to answer both of these questions for you!
WHAT IS TIKTOK?
Here’s the quick answer – originally called Musical.ly, Chinese tech company ByteDance acquired the app a couple of years ago and rolled it into their TikTok app. It’s been skyrocketing ever since, featuring quick, entertaining videos often centered around music, lip-syncing, dancing, and comedy.
It might sound like a silly app geared toward teens, but here are some interesting TikTok facts:
- As of a couple of weeks ago, TikTok had 891,000,000 monthly viewers.
- Close to 40% of those viewers are over the age of 30
- There are lots and lots of business owners on TikTok
Can you see why industry leaders like Gary Vaynerchuck and Rachel Pedersen are talking about TikTok?? (Yep, I AM referring to myself in the third person!!)
OKAY, SO IT’S POPULAR. DOES THAT MEAN IT WILL BE HELPFUL TO YOU AS A BUSINESS OWNER? WILL IT HELP YOU MARKET YOUR BUSINESS?
The answer to that is…maybe.
Let’s talk about who should be looking at TikTok right now.
You probably want to cut to the chase – is this something I can monetize? Can I make sales on TikTok? Will it help me generate leads for my business?
I am fortunate to be able to answer those questions based on real data, because I’ve already taken these steps.
I have learned how to monetize TikTok. I have carefully tracked the trail of purchases from TikTok directly to my programs. I have been able to observe first-hand the journey a lead takes, from viewer to potential client to buyer of my products or consultations.
I’m here to tell you, it works.
However, before you jump in with dollar signs in your eyes, there’s something you should know.
TikTok is in an early-adopter phase.
People are currently able to go from having no followers on any platform to absolutely blowing up in a very short period of time on TikTok. I have seen brand new people on TikTok hop on board and suddenly blast off into building a massive following in the millions!
That’s the power of being an early-adopter.
Understand this – no matter what your business is, whether it’s B2B, B2C, or a personal brand or influencer, there is simply no better time to be on TikTok than right now. Now, while you have the opportunity to enjoy the advantages of being a pioneer on a new platform. Now, before everyone else figures it out.
You might be wondering if it’s already too late since there are already millions of users.
The TikTok playing field is still wide open for people to dominate and build a huge following. Most of those millions of users are not business owners…yet. Don’t wait for someone else to pave your way to monetizing TikTok – be willing to blaze that trail for yourself! Sitting on the sidelines waiting for a sure thing is a surefire way to miss out on all the advantages waiting for you right now.
It’s up to you to decide if you want to jump in as an explorer. Most successful businesses get started without a clear-cut path to monetization. They work instead on building their presence and waiting for the right moment. They work on getting the eyeballs first, and then figure out where to direct them.
So can you monetize TikTok yet or not?
Yes. There ARE paths to monetization right now.
TikTok are rolling out exciting new features regularly, such as:
- In-app purchases (think physical products, ecommerce,)
- Clickable link in bio (not available to everyone yet but this will be amazing!)
- Once you hit 1000 fans you’re able to livestream. (Imagine the possibilities! You could turn it into your own training, your own home shopping network – the sky’s the limit!)
Now, let me tell you the cold, hard truth.
For most people, it’s not going to make sense to get on TikTok yet, and here’s why…
Most people won’t give it enough time.
They don’t understand that there is an “awkward phase” you need to break through. I like to equate this phase to those pre-teen years when everything is so tough and you’re just trying to figure things out..
Listen, your first few videos are going to be BAD. Super cringey. Just expect it.
Mine were bad too – in fact, I hid most of my worst ones.
There is a massive learning curve with TikTok. You can’t just jump on and repurpose all your Instagram stuff. More than any other platform, TikTok requires a little preparation.
You don’t want to just throw things up there as an afterthought. You need to spend the time to understand the TikTok culture. Be an observer for a while. Research, immerse yourself into what it’s all about, figure out what the trends and challenges are, and how they might apply to you and your business.
This is a platform where jumping in without doing your due diligence can backfire. Learn what it’s all about before you start making a bunch of videos. You will learn so much by just watching, and that’s so worthwhile.
If you’re not willing to put in some time to understand the platform, TikTok probably won’t be worthwhile to you. If you want a business that lasts, you’ll invest the time.
One other mistake people make is jumping into the TikTok app, not bothering to set up an account, and after watching a few awkward videos, decide it’s just not for them. Keep in mind that it takes about a week for TikTok to understand what you like and watch and to tailor the feed to your tastes. Give it time for both of you to get familiar with one another!
Still not sure? These are the industries that should waste no time getting on TikTok:
- B2C brands selling directly to consumers. You want to be on TikTok for unfiltered access to your consumers, research, unlimited viral potential.
- An attractive character or personal brand. TikTok was made for you!
- The music industry. Do you really have to ask?
- Fashion industry – strut your stuff!
- Fitness industry – demonstrate your moves, cook a meal, inspire others!
TikTok can seem like another world at first, I get that. If you’re looking for tips on how to navigate your way through the platform, I have some amazing resources and free training for you, because TikTok is my jam!
You can learn more:
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