Tik Tok has become one of the fastest growing social media platforms in the whole world, so if you haven’t created an account for your business - you are missing out. Not only is TikTok useful for attracting new clients and engaging with existing customers, it is also a great way to add a revenue stream. That’s right. TikTok is a great way to earn some extra income for your business and grow it at the same time. Here is how you can use TikTok to make your business some extra money.
Identify Your Business Niche
With so many businesses turning to TikTok for client acquisition and monetization, it can be very easy for you to get overwhelmed. In order to successfully monetize TikTok for your business, identifying your business’ niche is critical. Ask yourself what industries most closely align with your brand and target your content strategy towards audience's interested in topics that fall under that particular umbrella. TikTok is extremely community based, so the strategy of trying to be everywhere might actually not get you anywhere. According to The Niche Guru, “By narrowing down a market, you will be able to find areas with fewer competitors. When you choose a niche, your audience is smaller, but they will engage much more with your content and be more likely to share. After all, the most important factor in making money on TikTok, or any other social media platform, is having an engaged audience. And niche audiences work the best for this.”
Build a Following
Some of the most popular business accounts on TikTok have humble beginnings so don't be afraid of starting from scratch. The key to building a following is to identify a niche and post consistently to maximize engagement and reach a wider audience. This may or may not happen overnight so it is important to be persistent and patient. A great way to build a following is to engage with not only your audience, but also other creators on TikTok. Collaborations are a great way to maximize your brand’s exposure and access new audiences. Don’t be afraid to DM other creators to see how you might work together. The key is to achieve synergies between the collaborating brands and content posted. Not sure how to get started? MicroMentor has you covered. Check out some do’s and don'ts for small business content marketing here.
Follow the Hottest Trends
A great way to monetize your content on TikTok is to stay up to date with the latest trends on the app. This includes trending topics, sounds, dances, and transitions. Don’t be afraid to get a little goofy on TikTok. Use your creativity to connect your brand’s messaging to the hottest trends and you are sure to reach the right audiences to effectively monetize on TikTok. This is an important aspect of TikTok monetization because the algorithm favors content that is trending over content that is not. This might seem like a sure shot way to get lost in the crowd, but that is where your brand messaging and creativity can set your business apart. The best way to identify trending content is through the ‘discover tab’ on TikTok. Another way to find trending content is to follow specific hashtags like #trendalert so that you will remain up to date on what type of content is getting the highest engagement and which ones are best suited for your brand to follow.
Use the TikTok Toolkit
The great news for businesses that are new to TikTok is that the platform offers business creators a plethora of resources to support their strategy. Check out this Ultimate How-To Guide for business marketing on TikTok. The guide offers a comprehensive introduction to TikTok for businesses and stresses that the secret to success on TikTok is developing a strategy that prioritizes both organic and paid growth on the app. According to the TikTok team, “Organic content analytics will help you understand what’s resonating well with audiences. You can then use those insights strategically to inform your paid campaigns. Paid campaigns provide businesses with in-depth metrics to amplify that success and dig deeper into why.” Another great tool that TikTok offers its business account holders is the Business Creative Hub. This resource helps businesses by offering creative inspiration and guidance on winning content creation strategies on TikTok. This is an incredible resource for those who are new to the TikTok game because it offers users
- tips on content strategy, storyline ideation, and video shooting
- practical tips for getting the most out of your business account, from setting up your profile, to the best times to post, to content moderation and traffic.
Show off Your Business
On TikTok, it literally pays to show off. Make sure to showcase your products and actively sell them through your videos. An important part of this is making sure that your TikTok feed represents your brand adequately. One look at your business profile should indicate who you are, what you are selling, and why someone should buy from you. This may take time and involves a lot of curation, but it is well worth the investment because it will make sure your brand speaks for itself. There are many ways to sell a product through TikTok videos and the most creative business accounts on TikTok find a way to seamlessly integrate their products into their videos while simultaneously staying on brand and on trend. Building a winning TikTok strategy requires consistency and commitment, but it is important to have fun throughout the process and experiment until you find what works best for you. It is a good idea to take inspiration from brands that have successful TikTok accounts to see how they leverage the platform to sell their product and generate revenue. Brands like ASOS, Netflix, and Starbucks are killing the TikTok game. Here are some of the most successful business accounts on TikTok for some inspiration!
Social media can be tricky to navigate and has the potential to take your business to the next level if leveraged wisely. An experienced mentor can help you navigate the ins and outs of social media marketing so that your business can reach the right audiences. Join MicroMentor today to access a network of highly skilled professionals who can guide you as you grow your business!