TikTok - eCommerce news

While TikTok continues to grow, it still remains at risk of losing its top creators to other, more established platforms if it's not able to provide adequate monetization tools and options.

Both YouTube and Facebook provide more ways for creators to make money, and while TikTok now has the audience, its advertising system is not up to the same stage to compete on this front, which will become a bigger problem over time, if that gap can't be addressed.

Key to this will be eCommerce options, and establishing more direct connection between creators and monetization opportunities. TikTok has already taken steps on this front, via its initial integrations with Shopify and Walmart. And now, according to a new report from The Financial Times, the platform's looking to add some new tools to facilitate more eCommerce opportunity, and maximize its revenue options on this front.

As per FT, TikTok has briefed advertisers on three new eCommerce integrations coming soon to the app:

•     A tool that lets its most popular users share links to products and automatically earn commission on any sales
•     The ability for brands to showcase catalogs of their products on the platform
•     “Livestreamed” shopping, a mobile phone version of television shopping channels, where users can buy goods with a few taps after seeing them showcased by TikTok stars

All of these tools have been in testing, or live development, for some time - though not all in the US market.

The first option has been a key element in the monetization of the Chinese version of TikTok, called Douyin, which now generates the majority of its income from in-app commerce (as opposed to ads).
Douyin shopping

The new process will simplify such listings, and formalize the link/commission process, which will make it easier to facilitate partnerships with top creators - and crucially, provide an immediate, direct way for users to monetize their on-platform efforts.


via: Social Media Today