Does Your Store Need to be on TikTok Shop?

2024-05-20

If you're not running tiktok shop right now, then you are missing out. In this podcast, I'm gonna break down why my team and i are doubling down on tik tok shop. Why is it important? Any time there is a new marketplace, there is a massive arbitrage opportunity. This is due to the lack of efficiency in the marketplace. How does TikTok Shop work? - You connect your shopify store to tik tok using a 3rd party product feed app. A few of these include:Ownbase, Silk, SKU IQ, an...

If you're not running tiktok shop right now, then you are missing out.

In this podcast, I'm gonna break down why my team and i are doubling down on tik tok shop.

Why is it important?
Any time there is a new marketplace, there is a massive arbitrage opportunity. This is due to the lack of efficiency in the marketplace.

How does TikTok Shop work?
- You connect your shopify store to tik tok using a 3rd party product feed app.

A few of these include:
Ownbase, Silk, SKU IQ, and AfterShip

Similar to Meta Shop, you can build product feeds within tiktok shop that populates from your Shopify feed.

How to get new sales:

- Organic Traffic - Create organic content on tik tok that promotes and highlights your products.

- Tik tok ads - you can drive sales directly from tik tok ads to tt shop. We have found more success right now doing this than tt ads to Website conversions.

- Affiliates - Tik tok has launched a new creator affiliate network that lets you invite creators to become affiliates. From there, you can invite creators to join the program and send them samples to create content. Once the affiliates make and post content, they will make a commission off sales generated on the platform.

Platform Benefits:
- right now tik tok is creating massive discounts (up to 40%) to get TT users to convert into paid shop customers.

- The affiliate program makes it easy to manage and activate with creators and influencers.

- Conversion Tracking - Keeping Everything native to the platform helps eliminate IOS tracking issues for Ads.

The Cons:
- TikTok owns the customer, which means you dont get the customer's emails for retention purposes. It's pretty much like running Amazon (FBM)

- Policies - there's a lot of red tape and you need to monitor the account daily. If your customer feedback drops or if your chargeback / return rate goes up, you can be dropped from the platform.

- Payments - Tiktok pays in similar terms to amazon, which means you do not get your money until the end of the month. Depending on your return rate, they can also hold some funds in escrow.

Book a call with me and get a FREE AUDIT here: https://calendly.com/markmilutin/retention-game-plan-call-clone?month=2024-02

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