If you are building an online business, creating a TikTok Shop may have crossed your mind as an exciting option to make some sweet, sweet interweb cashola. Including a TikTok Shop in your TikTok Sales Funnel strategy is essential if you are going to secure sales.
Manychat has three strategy tips to help you monetize: Selling products directly via TikTok Shop, using Affiliate Partnerships, and using TikTok Shop’s Live Shopping feature.
Let’s get into it.
Selling Products Directly Via TikTok Shop
You’ll need to build an audience on TikTok before you try to sell anything. (If you’re starting from day one, here’s a guide to get you going.)
3 steps to sell direct via TikTok Shop:
Add Products
Tag Products
Run Promos
Here’s what you should know about each option.
Add products
Adding products to your profile’s shopping tab is easy once you have set up a TikTok Shop; you’ll need to access the TikTok Seller Center to get started. If you’re serious about your business and selling on TikTok, you have already established your business’s LLC and have an EIN. Then you can create a business account, verify your documents, add shop details, link your bank account, and then, BAM!, you can start selling.
It seems like a lot to start, but it’s a small amount of work with the potential for a big return.
Tag products
Once you have everything squared away to be a TikTok Shop seller and have your products added to your shopping tab, you can start tagging products in your videos so viewers can instantly tap and buy.
Your approach might be to unbox items and do a candid review, or to show how a product works out in the wild. For the latter, head out into town and have people review a product you are excited about. This is where you have to get creative to distinguish yourself from other sellers vouching for the same sale.
Run promos
Run (don’t walk) promos. Just like you see commercials for discounted, BOGO, limited-time offers for products across the media landscape, as a shop owner, you will want to bring the hype game if you are to sell on TikTok.
A sense of urgency is created when a product goes on sale, making it more enticing for buyers to purchase in the moment. The user feels that since it is marked down, more people will be inclined to add the item to their cart.
Note that FOMO is 2x’d when a buy-one-get-one deal is unleashed in a shop; limited-time offers turn up the heat even more.
Affiliate Marketing: Building Business Relationships
Earning a commission by selling others’ products is a great way to get your feet wet in the TikTok Shop Universe. It’s a win-win because you get a small cut of the proceeds while building a business relationship with a company or fellow shop owner, while building your product stock.
Monetize with affiliate marketing
Partner with brands you enjoy, respect, and want to do business with.
TikTok is an excellent opportunity to rub elbows with established companies and pick their brain while conducting business. Don’t be shy; see how you can help them spread their influence and cash in on sweet sales.
Affiliate commissions happen when a buyer clicks a specific link created when a TikTok Shop partnership forms and someone makes a purchase. You receive 5-8% of the purchase price when a buyer clicks a link from your profile or video. Combined with your product page, this is an opportunity to diversify your seller’s strategy while creating opportunities for passive income.
Live shopping has become one of the most powerful ways to drive sales on TikTok. This approach has become a full-on feeding frenzy that is compounding hype and urgency like no other app to date. The real-time shopping experience enables sellers to answer questions live, while showcasing products to a captive audience who are more likely to add items into their cart when they see others doing the same.
Hosting live sessions allows you to interact with potential buyers genuinely and excitingly in real time.
Demonstrating how products work live is an educational experience for everyone. Highlighting the benefits of the product and its many uses will convince buyers that what you are selling is worth their money and that you are a trusted seller. Building a solid foundation of followers and selling them quality products will become second nature.
Offering discounts for those who tune in live gives a feeling of exclusivity, and who doesn’t want to feel part of something bigger, something more unique than the normal day-to-day of social media? It’s also an excellent opportunity to offer discounts and engage viewers through giveaways, interactive polls, and Q&A sessions. Your goal is to engage your audience, and going live provides the arena to sell, sell, sell.
Hype Up Your New TikTok Shop
You’ll have to do some legwork to get a leg up on the TikTok’s Shop world competition. Building hype is important so buyers are excited and ready to press Buy Now when the shop opens its doors.
You are going to want to create a hype campaign before launch. Whether it is a teaser or a sneak peek, posting behind-the-scenes (BTS) footage of the creation process of a product can move mountains (and index fingers to the check-out screen). Take advantage of TikTok Stories and pinned videos that can act as a Countdown Timer. Such tricks add a little anticipation to the drop date. Early Access perks can also be leveraged for early adopters or VIP followers to cash in.
Pro tip: use TikTok trends and challenges to promote your shop. Trending sounds, challenges, and hashtags boost organic reach and can help your shop take off before launch day. Using popular audio tracks, hashtag challenges, and influencer collabs helps with the rollout and hype up your shop.
Optimizing your TikTok Shop
Consistency is key. So is quality. Ensure you use high-quality product photos and descriptions to look authoritative and trustworthy. Offering free shipping or discounts can convert first-time purchasers.
You can compensate and absorb the cost to ship for free by adjusting the price of your items — a little trick of the trade. People are more likely to click “buy” when shipping is included.
Finally, post at peak hours! There is no point in keeping late shop hours if no one is shopping (or awake), so use TikTok insights to find the best time for your specific audience.
Wrap It Up and Ship It Out!
Monetizing on TikTok has opened up the game for industrious people with the creative chops to stand out from the crowd. Selling directly through TikTok makes many pain points dissolve because users remain in the app, making the purchasing experience a breeze.
Affiliate marketing sweetens the deal through lucrative partnership opportunities while TikTok Live meets potential buyers where they are: glued to the platform.
And don’t be afraid to add TikTok Automation to your marketing approach.
