TikTok for Amazon Sellers Top 10 Reasons Why it Matters
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PODCAST SHOW NOTES - Special Guest Expert Maayan Gordon
Are you wondering how TikTok will rewrite the world? So many people are wondering how TikTok works so we've created this special episode with a world class expert to help you learn how you can use TikTok to make money.
Let's talk about TikTok - and why it matters to Amazon Sellers and eCommerce companies in general. You may be wondering how the TikTok algorithm works and makes videos go viral and Steve and Maayan will speculate on that exact topic today.
Our expert Maayan Gordon (who has over 1.7 million TikTok followers) will help us decode the mystery that is TikTok. Technically if you are under the age of 25 you probably already have it installed, but if you, like me, had the chance to watch Gilligan's Island you probably have no idea what TikTok is and how to use it. Even if you have heard the name you are unlikely to have the app installed or understand the opportunity.
Top 10 Things To Know about TikTok for 2020
1. Tik Tok has had over 1.5 Billion downloads. Facebook's attempt to copy TikTok called Lasso has only had around 70,000 downloads. The start up has the edge!
2. The vast majority of TikTok users are Gen Z. Around 66% of the current user base are under 30 years old. This is not a surprise to Steve because he is almost 50 and doesn't have the TikTok app. (yet) Adults, especially millennials are downloading an a VERY rapid rate in late 2019 and early 2020. The inflection of users may be happening.
3. Americans alone have invested over 23 million dollars on TikTok's virtual currency. Why? They want to buy stuff. Although the American share of users is only around 10% globally on TikTok they account for almost 1/4 of the total purchases. There are several lessons in there. Global in app purchases in 2019 passed 75 million dollars. This is mostly used to send EMOJIS!!!
4. Only 4% of American brands are marketing on TikTok. That means YOU are likely in the 96% that has not yet adopted the TikTok marketing. Go where others are not. Short form Video is relatively new to marketers and will require some effort to get it right.
5. India and China followed by SE Asia represent the largest user bases for TikTok. Although North America and the EU are growing if you have a business that can sell in India (Amazon Sellers in India) or China you have unique conduits to help you build your brand. Note: in China the app is called Douyin - but it is the same overall.
6. As Maayan referenced in the podcast users want an escape. They want to be happy. They watch TikTok to check out for a bit, just like watching TV in the old days. The average user spends 52 minutes per day watching TikTok.
7. In most countries TikTok is dominating on Android based devices. This is due in part to the most popular countries and their user base. iOS may trail, but they spent far more per user on TikTok - which is a normal dynamic.
8. The Top 50 TikTok creators are followed by 7.6% of the World's population. The amount of people following them is more than the population of many western countries COMBINED.
9. TikTok is growing faster.
10. Engagement is NOT awesomer yet on TikTok. People log in everyday to other social platforms like Instagram (95%), Facebook (96%), and SnapChat (95%). TikTok has only 29% daily engagement from it's total user base. Those who do login are very engaged however, but this is one key statistic that TikTok will continue to focus on.
https://awesomers.com/podcast - for full show directory.
Don't forget that Maayan will be speaking at the Empowery Women's conference in Los Angeles in February. It's your chance to talk with her an other experts to make a difference in your business for 2020. Don't miss it!
Consider these resources to help your business:
www.empowery.com - the non-profit member owned co-op
www.catalyst88.com - the ecommerce focused global mastermind
www.stevensimonson.com - learn more about the founder Steve Simonson
Don't forget that the Empowery eCommerce co-op is there to help you cope with the ever-changing market! If you haven't decided to join you are MISSING an opportunity.
Have you checked out KevinandSteve.com? Launching March 19, 2020!