TikTok and its Impact on Businesses￼
TikTok is a social media platform that allows users to create and share videos, allowing the creator to create content three minutes long. This fast-growing app has become one of the most trending social media apps, either you have the app and people send you TikToks, or you have at least have heard of it before. The app has nearly 689 million monthly users worldwide and has only been around since September 2017.
Due to TikTok’s virality, our economy has seen a monumental effect. First, we want to briefly discuss how this has particularly affected businesses. For starters, let’s make this clear: social media is an essential marketing piece for businesses. Social media allows a company to connect with customers, heighten brand awareness, and sales. Small businesses who “hop on this trend” will, without a doubt, maximize their opportunity cost. TikTok allows information on a diverse set of topics to be systematically spread through its curated, proprietary algorithm. For example, small business owner, Elyse, who is a painter, maker, marketer, photographer, and advertiser for Elyse Breanne Designs, @elysebreannedesign, credits TikTok for helping her business grow as much as it did. Elyse first started posting on TikTok in early 2020 and saw an impressive increase in January 2021, where she has seen six times her sales in just one month. TikTok has not only affected small businesses but businesses in all capacities.
Remember The Ordinary’s Niacinamide? Yup, the hashtag on TikTok has 8.5 million views. Remember the Aerie Leggings? Yup, the hashtag on TikTok has 13.2 million views. Remember The Pink Stuff? Yup, that hashtag has 246.9 million views. The point is, regardless of the size of your business, there is room for maximizing growth. All these products, along with many others, have gone viral and increased in sales in the short life span of TikTok.
How to Use TikTok for your Business:
With that being said, how does a business start utilizing TikTok to their benefit? Here are some tips Luna Brand Management can share:
- Engage in challenges/Use trending music: A challenge is a method to start an initiative, which typically includes a song, dance, and/or quote, etc. This initiative contains a hashtag usually pertaining to the video. A good example of a recent challenge was “I’m passing the phone to…”, where the first person says “I’m passing the phone to…” and finishes the sentence off.
- For example, the first person says, “I’m passing the phone to the person who takes the longest to get ready,” and so on and so forth. All while using trending music, which is important because this can boost your chances of the algorithm prioritizing your account or hashtag, as it is tailored to what a person likes or their “For You” page. It is essential to know if the music/sound is still trending; you can see this in your “Discover” tab.
- Consistency: Consistently creating and uploading videos to your page allows viewers and clients to familiarize themselves with your brand. You may ask yourself: “How do I know when to post?” or “What do I post?” Well, analytics can help you with that!
- Share on other platforms: Sharing your TikTok video on other social media platforms can be significant, as it will drive users to your page.
If, after reading this, you know your business would benefit from a TikTok presence, don’t be afraid to contact the Luna Brand Management team to represent you!