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How TikTok’s monetisation features could shake up the e-commerce industry

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How TikTok’s monetisation features could shake up the e-commerce industry

As the fastest growing social media platform and application worldwide today, having a TikTok presence is now necessary for brands to reach out and connect with their customer base. Find out how TikTok’s monetisation and Creator Marketplace features could change the way e-commerce works.

After already making waves in the social media industry for its user and creator-focused approach to content creation, TikTok could now change the game for the e-commerce industry too.

Despite being one of the newest social media platforms compared to giants such as Facebook, Whatsapp, and Instagram, TikTok already surpassed 1 billion users in September 2021 and continues to dominate mobile application download rankings across multiple mobile stores. This has turned global attention to its growing audience, which comprises all ages and nationalities but is dominated by members of the Millennial and Generation Z generations.

Regardless of the size of your business or whichever industry you are in, securing a social media presence is now essential to improving your visibility within the highly competitive e-commerce marketplace. For small and medium businesses (SMBs) in particular, TikTok’s monetisation and Creator Marketplace features change how social media platforms can facilitate e-commerce by breaking down traditional barriers to entry in the e-commerce field.

How TikTok is changing e-commerce

1. Low cost of entry with minimal monetisation requirements

One way TikTok is levelling the e-commerce playing field for SMBs and independent entrepreneurs is through providing a comprehensive suite of business solutions for free. Basic monetisation functions are available across all account types, including live-streaming, Shopify integration, and e-commerce links for native link-outs to specific sites or products.

Businesses can also create a free TikTok Business Account which comes with integrated data analytics and value-add functions. In addition to standard features, Business Accounts come equipped with performance analytics, a curated TikTok business content guide, and a digital business suite for streamlined access to case studies and tips on the dedicated TikTok For Business website. This removes costly barriers to growth that smaller businesses tend to face, allowing SMBs to remain competitive even while growing their business.

In September 2021, TikTok Australia also announced TikTok World – a dedicated initiative to help enhance the TikTok experience for brands and marketers on the platform. TikTok World includes existing features like the TikTok Creator Marketplace, as well as new and emerging features like Open Application Campaigns, Reach & Frequency analytics, Brand Safety and Suitability Tools, and a TikTok Inventory Filter. These integrated end-to-end e-commerce solutions allow businesses to manage end-to-end e-commerce campaigns entirely on the platform without needing to seek out third-party applications.

2. Ease of access to creator and influencer marketing

The TikTok Creator Marketplace is just one of the offerings in TikTok World’s suite of business solutions, but it is a powerful e-commerce marketing tool for SMBs in particular. It allows brands to find and connect with diverse and specific creators and creatives who are able to faithfully convey and represent your brand identity and brand voice. Whether you are looking for a one-off influencer marketing post, or are looking to build a network of affiliate partners, the Creator Marketplace is a cost-effective and convenient way to identify key opinion leaders in your niche and grow your customer outreach through them.

As influencer or creator marketing becomes more commonplace, having an integrated Marketplace to source for creators cements TikTok’s standing as a comprehensive all-in-one platform for e-commerce. The native Creator Marketplace API also enables the marketplace data to be accessed by creator marketing experts and external marketing platforms, allowing you to manage multiple end-to-end influencer marketing campaigns with ease.

Improve your e-commerce strategy with TikTok’s features

Unlike other social media platforms that approach e-commerce functionality as an add-on, TikTok integrates its monetisation and marketing capabilities to make the e-commerce experience easier for business owners and marketers alike. Through this all-in-one approach to e-commerce, TikTok is helping SMBs and independent business owners build organic and intuitive e-commerce strategies to advance their business goals.

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