Since Tiktok is becoming the number one app across the world, it is only relevant to discuss how it is going to change the eCommerce dynamics. So, in this article, we discuss how much Tiktokers are making by promoting eCommerce related products to their audience, and if there is still potential in Tiktok? We will also discuss if Tiktok is going to surpass YouTube in terms of social commerce in the coming future.
But before we get to that part, let’s learn what Tiktok actually is and how it helps people entertain themselves.
What is TikTok
For those who don’t know, TikTok is a social media platform similar to Instagram and Snapchat. The only difference is that Tiktok allows users to create followership. Each user can create public videos that others can see again and again. These followers can increase in numbers when the videos are shared across the platform.
The best part about TikTok is that it allows people to act on various voice filters. This method allowed TikTok to go viral. Even celebrities now use TikTok to get more exposure for themselves and their brands.
TikTok has also led to the discovery of raw talent hidden in cities and small towns. Most of the top TikTokers hail from these small towns. They have followers in millions.
Importance of TikTok marketing
TikTok doesn’t have a monetization method available. This means all the content available on TikTok can’t be monetized by their respective owners like YouTube. This was a big turn-off for content creators who wanted to earn a living by promoting content on TikTok. But since that wasn’t the case, they resorted to eCommerce outreach. Soon these TikTokers were promoting products of their favorite fashion brands. Now FMCGs, Fashion, Mobile, and all consumer products are marketed on the TikTok platform. Brands can sign deals with these influencers and pay them for promoting the brands in their products.
On average, TikTokers with 1 million followers can earn over 2 lac per month.
Most of these TikTokers also collaborate with TV channels and shows because they have an audience of their own. When these many people are associated with a single person, the showbiz industry is willing to pay them for their services.
All this had made TikTok a great social commerce channel of 2020.
Future Predictions of TikTok as new Social Commerce
Now that we know what TikTok is and why it is relevant in 2020, it is important to know how TikTok will be in the future. We have made a list of future predictions of TikTok.
TikTok is going to stay relevant in the years to come. It may even surpass YouTube because it is now the biggest entertainment medium online.
YouTube is mostly viewed on the web. However, TikTok doesn’t have a website. So, we can only compare YouTube and TikTok apps.
TikTok is gaining traction faster than any other app. This is because now brands are sponsoring more content on the website. In the last month of 2019, TikTok gained more than 70 million subscribers.
Another speculation is that TikTok will soon advertisers to promote their content directly on TikTok. It is because there are just so many users available on the website and without a proper monetization medium, they won’t be able to sustain content creation for long.
We have already discussed how TikTok is already competing with YouTube and Instagram social media channels. But there will be a time when it will have more subscribers than both of these websites.
Brands now prefer TikTok as a great channel to double their return on investment. In the future, it is predicted that brands will get their own space where they can promote their products directly. This is closely similar to Facebook and Instagram product listings.
Tiktok and Ecommerce
TikTok would prefer to stay as a social media channel. It may enable monetization and product listings, but the TikTok video marketing app won’t directly get involved in eCommerce. However, eCommerce websites will continue to use TikTok to grow their business and earn more profit.
TikTok is a great social media channel for brands who would like to improve their product awareness and brand coverage. Even in the years to come, TikTok will remain a relevant asset of the digital ecosystem. So, if you want to join it as a content creator, or would like to promote your products on the website, this is the right time to do so.