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Business FirstInternet Today

The Tiktok Shopify Partnership In Focus

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The recent announcement of the Tiktok Shopify partnership marks TikTok's continued investment in social commerce. The partnership aims to help Shopify merchants, of which there are over one million, engage with TikTok's youthful audience and generate sales revenue. Ultimately, the venture will grow to encompass additional in app shopping elements too.

Early Days of Tiktok

In the past, TikTok gained notoriety for being a video platform that offered memes and entertainment. Members were not able to purchase items directly on the platform, even though it featured influencers who promoted cosmetics, clothes and domestic products. Rather, members were only able to purchase items on TikTok through adverts on the platform.

Shopify Partnership

This new arrangement permits merchants on Shopify to set up, optimize and run their TikTok advertising campaigns from Shopify's dashboard directly. To do this, they have to install the newly released channel app from TikTok that is available from Shopify's app store. After installation, merchants can take advantage of the functions offered on the 'TikTok For Business' Ads Manager.

Merchants on Shopify have come to realize the importance of discoverability, with social commerce offering the chance for independent companies to boost their brand awareness. The 2021 report from Shopify about the future of commerce revealed that fifty-four percent of younger shoppers across the world find brands through social networks. In addition, Shopify has joined forces with TikTok to introduce product links. Merchants on Shopify will use these links as product tags on TikTok, to send shoppers straight to their online stores from organic posts. Shoppers can opt to purchase from the merchants' stores directly, or click tagged products in merchants' TikTok posts.

Once merchants have set up the one click pixel in their 'TikTok For Business' account, they can activate in feed shoppable video adverts. To create these adverts, merchants simply choose the products they want to promote using templates that are designed specifically for ecommerce. These ad templates feature existing videos or imagery, so the TikTok channel is suitable for merchants of all sizes. To launch their joint venture, TikTok is offering merchants a $300 voucher to spend on their first advertising campaign.

Internet Today

A Look at TikTok's New Ecommerce Features

eCommerce

Developed and launched in 2016 by ByteDance, TikTok is a social media application that allows users to share short videos. In early 2020, TikTok gained massive popularity across the globe, thanks to the COVID-19 pandemic that triggered the social isolation and lockdown policies. While this application was solely meant for entertainment at first, e-commerce sellers are now taking advantage of it to market their products. With that in mind, here's a look at some of the new TikTok's new features.

TikTok Product Links

This feature allows the seller to add a product link, which enables the users to click and view the products in the online shop. This way, TikTok sellers get to market their products on this platform without necessarily displaying them.

Short Video Displays

Apart from adding a link to your products, TikTok also allows you to display your products in form of short videos. Here, you can demonstrate the actual working of the product and get people interested in purchasing it.

Livestreamed Shopping

This feature allows brands and influencers to host shopping livestreams, enabling viewers to view products and make in-app purchases in real-time. The TV shopping channel feature is suitable for brands and influencers that command a massive fan following.

TikTok's Competitors

Currently, TikTok is competing with numerous other ecommerce platforms such as Shopify, Wix, Square online, BigCommerce, and Squarespace. Despite their different business models, these platforms target virtually the same audience, meaning the competition in this space is cutthroat.

TikTok Partnership With Shopify

In October 2020, TikTok announced a partnership with Shopify that would allow at least 1 million merchants to market and sell their products through video ads. So far, the TikTok for Business feature enables ecommerce entrepreneurs to create and run campaigns on TikTok and engage their online communities. Beyond advertising their offerings on TikTok, merchants can also sell their offerings on the platform, and therefore, earn money on the platform.

Internet Today

TikToks Millionaires: The 7 Top Earners You Should Know

Although first released in China for the Chinese market in 2016 as Douyin, TikTok quickly became a platform for entertainment around the world. By the end of 2020, it has launched the careers of thousands of personalities, many of whom are using the platform as a means to earn a living. In less than 36 months, TikToks millionaires have made some serious cash and are still doing so. Here are 7 of its top earners.

SpencerX

1. Spencer X

Earnings: $1.2 million
Spencer Polanco Knight, better known as Spencer X, initially promoted his beatboxing skills through YouTube, later combining his YT earnings with sponsorships to become a TikTok millionaire by the age of 28. After dropping out of college, Spencer X started his beatboxing career busking, and was even part of a bluegrass group. His popularity as a beatbox artist grew when he began posting on YouTube and on TikTok in 2019.

2. Michael Le

Earnings: $1.2 million

Michael Le, better known as JustMaiko was one of the pioneer content creators on Tik Tok, back when it was known as Musical.ly. Le is a dancer and choreographer who offers multiple posts on his Tik Tok account daily for his nearly 5 million followers. Other than creating dance and challenge videos, Le also earns through paid partnerships using Instagram and merchandise sales with his Shluv clothing line.

3. Josh Richards

Earnings: $2.5 million

Josh Richards is a Canadian Tik Tok star who is also currently the highest-paid male content creator on the platform. Richards provides content on Tik Tok, YouTube, and Instagram where he posts video clips of his performances. He co-founded Ani Energy and TalentX Entertainment and is the Chief Strategy Officer of Triller. He has accumulated north of 20 million followers on the TikTok application.

4. Loren Gray

Earnings: $4 million

Loren Gray is another Tik Tok pioneer - that is, she was on the platform back when it was known as Musical.ly. She started posting when she was just a 6th grader. These days, Gray is focused on her music career which she began promoting by creating content and building her TikTok followers. By the middle of 2020, she had nearly 50 million followers on the platform.

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