Should I Promote My Business On TikTok?
There are many platforms to choose from when it comes to marketing your business, but unless you have unlimited funds, it pays to focus your money on those with the highest probability for return. TikTok has an impressive 1 billion active users every month. This has many business owners asking, “How can I start promoting my business on TikTok?” The reality is a VHS Filter (#vhstape) or the Touch It Challenge (#touchitchallenge) may bring in billions of views but turning views into profit is the real challenge. Use these three steps to decide if a TikTok account is right for your business.
- Determine your goals.
- Consider your budget.
- Understand your target audience.
Determine your goals.
Any good plan starts with goals. Consider why you want to incorporate TikTok into your marketing plan. Are you interested in creating more awareness around your brand or are you specifically looking to increase sales? It is important to determine your goals because they will drive the strategies you use to measure your success and the most valuable goals can be measured. Define how you will evaluate your goals, not only to determine your success, but to adjust the plan to maximize your profit.
Consider your budget.
Over 39% of small businesses are focused on digital marketing in 2022 and no one wants to waste money. With this in mind, we always recommend you define your budget at the beginning. Use this as an opportunity to re-evaluate your overall marketing budget. Do you currently have savings to fund this new venture or will you need to cut back in some areas? How would a presence on TikTok support your overall marketing efforts? Consider cross-promotions and ways to simplify. For example, cross-platform posting allows businesses to create one post and share it across multiple mediums. When you identify how much you are willing to spend both in time and money before you start, you can avoid overspending and ensure you dedicate adequate time for the tools that bring you closer to your goals.
Understand your target audience.
Once you have defined your goals and set a budget, you are ready to evaluate platforms. An important consideration before you invest in any new program is to decide if it is a good fit for your business model. This requires a bit of research. Take your time with this step as it is one of the most important. Think about your ideal customer . Do they shop online, buy items on social media, and most importantly do they scroll through TikTok?
Since almost half of all TikTok users in the United States are between 18 and 34 years old, many businesses have an opportunity for success. However, there are many additional components to evaluate. If your target audience is indeed between the ages of 18 and 34, then you have almost half a billion potential customers on this platform, but the location of that age group may limit your opportunity if you only offer services in your state versus internationally. Additionally, if your target audience happens to fall into other age groups, you may still want to consider TikTok. For example, if your customers are between the ages of 35 and 44, the percentage of TikTok users is only 17%. However, 17% of TikTok users is a potential audience of 170 million, a huge market of opportunity. So, always rely on data and consider how different statistics can work for you when you evaluate platforms like TikTok for our business.
TikTok is a good fit for my business. What happens next?
After you determine your goals, consider your budget and research your target audience you should have a good idea if TikTok is a good fit for your business. If so, it is time to create your plan. Use your goals and budget to drive your plan but make sure you also include a timeline. The social media climate shifts frequently, which means you need to be ready to make changes and quickly. Incorporate check-points into your plan to ensure you have an opportunity to adjust your strategies along the way.
Thankfully, there are a ton of tools you can use to monitor your success and drive the strategies that will bring you closer to your goals. Let your plan define the steps toward your goals and build in a schedule that will give you an opportunity to re-evaluate your steps and adjust your plan to create greater success. Many of our clients become overwhelmed during one of these steps or sometimes want help with all of them. Schedule a call with us today and we can help you decide whether to include TikTok in your business plan.
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