Primary Blog/Viral Ecom Blog/Is TikTok Shop the BIGGEST opportunity of 2023? Here's everything you need to know.

Is TikTok Shop the BIGGEST opportunity of 2023? Here's everything you need to know.

Viral Ecom

If you’re an online business owner, chances are you’ve probably heard some of the buzz around the newest TikTok Shop feature: TikTok's latest innovation that has raised the stakes of social media advertising & redefined the idea of online marketplaces. Trust me - all the hype you’re hearing is not for nothing. There’s a reason why the release of the TikTok Shop feature has garnered so much interest from media buyers & brand owners alike… So pay attention - because this may just be exactly what you need to help take your online business to the next level!

In this blog, we'll take a look at the latest TikTok’s Shop feature & discover why it may be the biggest online opportunity of 2023!

So, What is TikTok Shop & how’s it different?

Being the first of it’s kind - TikTok Shop has put itself in a category of its own when compared to the conventional method of advertising all media buyers/brand owners have grown to know & love. The main separating factor being that unlike traditional ads that redirect users to external websites, TikTok Shop actually integrates the shopping experience seamlessly within the app. This feature not only keeps users engaged but also streamlines the purchasing process, eliminating the need for them to exit the app. TikTok Shop marks a significant shift, turning passive viewers into active consumers directly within the platform.

Why TikTok Shop is the Gold Rush of 2023…

Now, let's explore some of the advantages of the TikTok shop feature that have officially positioned it as a total game-changer. First and foremost, TikTok earns a commission on sales generated through the platform. With a strategic interest in promoting videos that lead to successful transactions, TikTok is incentivized to prioritize and favorably showcase these videos in its algorithm. This symbiotic relationship between TikTok's earnings and advertiser success creates a win-win scenario, driving increased visibility and reach for businesses.

Secondly, the integration of shopping within the app results in a more seamless user experience. Unlike traditional ads that disrupt the flow by redirecting users to external sites, TikTok Shop minimizes interference. Users are now able to explore and purchase products without having to leave the app, fostering a sense of continuity and maintaining organic engagement. This reduction in friction enhances the overall appeal of TikTok Shop as a user-friendly platform for both consumers and advertisers.

Additionally, the organic feel of TikTok Shop videos provides a more authentic connection with the audience. As users scroll through their feeds, the transition from simply consuming content purely for the purpose of entertainment, to discovering a product they feel an impulse to buy that feels less like an interruption to their experience & instead a more fluid and natural discovery. This authentic integration enhances the potential for successful interactions, making TikTok Shop a promising avenue for brands seeking genuine engagement with their target audience.

Not so Fast… What’s the catch?

While TikTok Shop certainly appears as a truly ‘groundbreaking’ opportunity, it's still important to acknowledge the potential drawbacks that may come with it. One notable challenge I imagine is the potential saturation of the platform as more businesses begin to catch on & understand the scope of this opportunity. In that case - the increase in competition might make it challenging for smaller brands to stand out amidst the vast amount of content. However, with strategic planning and creativity, businesses can navigate this landscape effectively and leverage the unique advantages offered by TikTok Shop. Which if anything - should actually give all the more reason to act fast & ensure you don’t let this huge opportunity pass you up.

Another huge obstacle that everyone tends to skim over is the fact TikTok Shop has an extremely strict user policy. For example: You’re required to supply active tracking numbers to all customers within 2-3 days of their purchase, which eliminates any possibility of dropshipping with TikTok Shop. This, coupled with delayed payouts of up to 7-14 days, means without some substantial capital or credit readily available, you may find yourself in a constant battle with cashflow & fulfillment which can do more harm than good.

Moreover, because you’re using their personal marketplace (just like Amazon or Ebay), you inherently have to sign over a larger portion of control to them often regarding things like your customers & payments. This means should you accidentally violate one of their policy agreements, your business’ funds can be held without any warning. This is due to the fact that you're technically not selling via Shopify anymore; you're selling on TikTok's own marketplace - ultimately reducing you to more of a middle man.

So, what do I do now?

Before you go ALL IN on TikTok Shop - if you want to fully capitalize on the opportunity I’d highly recommend first reaching out to Layton Schwenning, one of our VIP mentors at ViralEcom that specializes in scaling brands specifically with TikTok Shop. Whether you're a seasoned pro or just stepping into the world of online advertising, Layton’s expertise will help you maximize your business’ potential utilzing TikTok Shop trends & help take your business to the next level. Book in your FREE discovery call now and take the first step toward unlocking the full power of TikTok in 2023. Don't miss the chance to level up your online business and make this year your best one yet!

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