Ultimate Guide to Starting Your TikTok Shop in 2024
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ARTICLE HIGHLIGHTS
- TikTok offers access to 23 million UK users, offering a vast market potential.
- Setting up a TikTok shop is free; however, a 5% sales commission applies.
- No minimum followers required, making it ideal for start-ups.
🎧 Listen Now: Sidehustles.co.uk One-Minute Podcast: Ultimate Guide to Starting Your TikTok Shop
How To Start a TikTok Shop: Your Definitive Guide
Discover how to launch your TikTok Shop in 2024, tapping into a market of 23 million UK users eager for unique products.
One essential aspect of operating a business, whether it’s a side hustle or a main income source, is marketing it to your target audience. While there are many platforms you can use to showcase your offerings, TikTok is undoubtedly one of the most popular. This video-sharing app has around 23 million active users in the UK, making the platform a prime location to reach your target audience.
TikTok recently began integrating an e-commerce platform, making it easier for businesses to market and sell to customers within the app. Taking advantage of this feature enables you to quickly advertise and sell your products all in one location. So, how do you open a TikTok shop? What are the considerations to keep in mind for this platform? We’ve shared a primer to answer these questions. Let’s dive in.
What Is TikTok Shop?
TikTok Shop is the app’s native e-commerce platform, complete with several features and tools that allow users to buy from your business account. The integration has only been around since September 2023, but TikTok Shop has quickly established itself as an essential integration for anyone who wishes to leverage TikTok’s reach and engagement.
Through TikTok Shop, you can do various things to showcase your products to possible customers. The shop has promotion tools, built-in shopping functionalities, and creative advertising features. What’s more, you can take advantage of an affiliate program. Collaborate with influencers and watch your engagements rise!
Setting Up a Business Account
You won’t be able to establish a TikTok shop unless you have a business account, which is different from the regular personal account. With a business account, you start getting access to marketing tools and can establish your TikTok Shop.
To set up a business account, simply visit your TikTok account and go to Settings and Privacy. Find “Manage Account” and click “Switch to Business Account.” You will be prompted to choose a business category, so make sure to choose one that fits your niche best. The feature is not just for people within the fashion, home items, and cosmetics industries. Those who provide services, such as
fitness or
travel, can take advantage of business accounts on TikTok.
Four Ways To Shop
There are four ways people can see and buy your items in TikTok Shop. Each one has its advantages and disadvantages, but we recommend utilising most if not all of the formats to ensure maximum reach.
Live Shopping
TikTok allows brands and sellers to go live on their business accounts and start selling products. When you go live, you will live stream a video, which is usually you or a collaborator using your products or showcasing a service. Viewers can tap the pinned products or browse the shopping basket tab to see which offerings you’re showcasing during the live. Then, the users can add the items to their carts and place an order.
Shoppable Videos
Shoppable videos are the short-form videos you post on your business account. Within these videos are links to the products or services you highlighted in the video, allowing viewers to quickly place an order. So, when making such posts, make sure to highlight the product you want to sell.
Product Showcase
The product showcase tab is where you can list products you want to highlight, serving like a typical e-commerce products page. TikTok users can browse this tab, located within your business account profile, and find the items they want to purchase.
Shop Tab
The Shop tab is where all your products can be found. Users can also check out promotions and campaigns in this tab, creating a single place for all your current offerings.
Advertising on TikTok
As we mentioned, you can market or advertise your products on TikTok. The app offers plenty of advertising solutions that go beyond the TikTok shop. Take note that the following advertising options have costs. Thankfully, opening a TikTok shop is free, and TikTok takes only a 5% commission from your sales.
Branded Hashtags
A branded hashtag is basically a hashtag that promotes your business, a product, or a service. You can add effects to these hashtags, allowing for visual interest and the potential to go viral. Add a “challenge” to the hashtag, such as a dance or specific action, which prompts users to join and spread awareness about your brand or offer. The branded hashtag is free, but a branded hashtag challenge is paid.
In-feed Ads
In-feed ads work like regular ads. You pay a certain amount, and your video ad will appear in between videos on a user’s For You page.
TopView
A TopView ad is similar to an in-feed ad, but the former appears as the first ad a user sees as they start scrolling through their feed. The TopView ad stays that way for a given time before a user starts seeing in-feed ads.
Brand Takeover
While the screen loads, TikTok will display your ad, “taking over” the loading screen. This ad can have a link that will lead to your TikTok Shop or a landing page of your choice.
Is TikTok the Right Platform To Promote Your Products?
There are plenty of free social media platforms that have similar e-commerce capabilities. So, how do you determine if TikTok is the right place to concentrate your marketing efforts?
Your Target Audience
Do the people you want to sell to use TikTok? How much time do they spend on TikTok each day, if they do at all? Gen Z and younger millennials take up most of TikTok’s users. If these demographics aren’t your target audience, then maybe this platform is not the best option.
Budget for Hiring Influencers
TikTok’s formatting encourages collaboration. So, if you want to take advantage of influencers, then you will need to have a budget for hiring them. You can still thrive without influencers if you know how to properly market your products on your own.
Video Shooting Capabilities
Does your business type allow you to use videos as a tool for marketing? Will your niche give you enough time and resources to start shooting and editing videos? If yes, then TikTok Shop may be a great platform for you.
Tips To Sell More Products on TikTok Shop
Before you open your TikTok Shop, here are a few tips to keep in mind to help ensure success.
Make the Most in a Minute
TikTok videos, like shoppable videos and in-feed ads, are usually only a minute long. The first few seconds are crucial when it comes to grabbing a user’s attention. So, make sure to create engaging content that compels people to keep watching your video.
Understand Your Niche
Attempting to reach a high number of audiences may make it harder for you to make a sale. So, don’t go for the general population. Find your niche and concentrate on their pain points. Then, market your products or services as a solution to these individuals’ needs.
Do Your Research
What’s trending in your current niche? What’s something that could become viral in the next few days and how can you relate it to your brand? Doing research about market trends helps you create better strategies and stay relevant to your audience.
Don’t Be Afraid To Ask for Collaborations
You may be hesitating to collaborate because some influencers charge absurd rates for sponsored posts. However, some of them will gladly post reviews or recommendations in exchange for freebies and other perks from your business. When choosing an influencer, make sure that they’re someone that appeals to your niche as their followers will also be likely to find your products appealing.
Tax Considerations as a tiktok seller
Like any type of business, you will need to pay taxes when opening a TikTok shop. Thankfully, you don’t need to register with HMRC until you go beyond the £1,000 trader’s allowance threshold. Once you do, you will need to register for self-assessment and start paying your dues. Make sure to keep an accurate record of your finances and work with an accountant to ensure accurate filing.
FAQs
Final Thoughts on Starting a TikTok Shop
As TikTok continues to flourish as a platform, you can start taking advantage of it to market and sell products. The native e-commerce platform, TikTok Shop, is the ideal place to begin. TikTok Shop has all the features and tools you need to start selling products and services on the social media website. To set up your shop, follow the steps and tips we shared above.
BEFORE YOU GO...
Before you go, remember that mastering TikTok is only the beginning of your e-commerce adventure. If you're keen to explore another lucrative platform that specialises in unique, handmade, or vintage items, why not consider expanding your online presence to Etsy? With millions of shoppers looking for something special, starting an Etsy UK shop could be your next successful venture. Our next article will guide you through the process of setting up your Etsy UK shop, ensuring you're well-equipped to captivate a whole new audience. Don't miss out on this opportunity to broaden your e-commerce horizons. Read our upcoming piece for all the insights you need.
sidehustles.co.uk one-minute podcast
🎧 Listen Now: Sidehustles.co.uk One-Minute Podcast
Ultimate Guide to Starting Your TikTok Shop in 2024
Welcome to the Sidehustles.co.uk One Minute Podcast. In the next 60 seconds, we're sharing a real-world insight from our network of seasoned side hustlers. This quick tip is designed to offer you practical advice that you can apply immediately in your side hustle journey.
Today, we're looking at Starting a TikTok Shop in 2024. One valuable insight for any aspiring side hustler looking to make their mark on platforms like TikTok is the significance of authenticity and engagement. In the fast-paced world of social media, where users are bombarded with content, standing out requires more than just showcasing products. It's about creating a narrative that resonates with your audience, engaging with them in genuine conversations, and building a community around your brand. This approach not only elevates your brand's visibility but also fosters loyalty, driving both sales and sustained growth. Remember, on platforms like TikTok, your audience is seeking connection as much as they are shopping. By prioritising authentic engagement, you create a unique space for your brand that can truly captivate and retain customers.
That's your one-minute real-world insight. Stay tuned for more!
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