An exciting year for SMBs on TikTok
After a year of 2023 that recorded outstanding prosperity for the small and medium-sized business (SMB) community on the platform, TikTok continues to promote activities to support SMBs, starting with the TETastic with TikTok program - prosperity. sales in Hanoi, January 13. The event aims to discuss and update the consumer picture, equip creative advertising strategies and solutions, help businesses - especially SMBs, confidently seize opportunities and promote comprehensive business results. Tet Giap Thin 1.
By the end of November 11, according to records, there were more than 2023 million Vietnamese micro, small and medium enterprises (MSMEs) operating on the TikTok platform. Businesses participate in content creation, advertising, sales, bringing attractive entertainment and commercial content, and a variety of quality and reputable product options to users. The top 2,8 best-selling categories on TikTok Shop include: Fashion, home & lifestyle, health & personal care, electronics, beauty.
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| TikTok supports more than 2,8 million medium, small and micro enterprises during Tet Giap Thin 2024 |
Accompanying the development of MSMBs, TikTok continuously deploys training programs, equipping them with knowledge, operating skills, content creation, tools and support solutions. In 2023, more than 140 free weekly training sessions and seminars will be held, helping to improve competitiveness, brand recognition and optimize platform operations for more than 50.000 MSMEs.
In particular, over the past year, TikTok actively coordinated with ministries, agencies, and organizations across the country to enhance digital commerce opportunities for local businesses and products. Notably, the OCOP Market program in cooperation with the Ministry of Agriculture and Rural Development on TikTok has helped more than 3.000 MSMEs from 30 provinces and cities nationwide consume local agricultural products, exceeding the sales threshold of 100 billion VND.
At the same time, in the first cooperation with TikTok, the Vietnam Online Shopping Day - Online Friday 2023 program organized by the Ministry of Industry and Trade achieved unexpected success when the hashtag #onlinefriday attracted more than 1 billion times. interactions, generating a total of 50.013 successful orders in just 60 hours of online shopping. Activities create conditions for local businesses and people to diversify business methods on digital platforms, expand sales channels and potential customers, while improving digital transformation capacity and promoting advertising. promote tourism, contributing to local socio-economic development.
TETastic with TikTok - a prosperous opportunity for SMBs near Tet
As an activity to kick off support for SMBs during Tet and throughout the year, TETastic with TikTok - boost sales brings many open conversations, sharing sessions and practical discussions, sketching pictures and trends. Tet consumption, enhance creativity and discover effective creative solutions to help SMBs boost revenue... Especially, within the framework of both offline and online events, TikTok experts directly supported and advised. 1:1 for businesses having trouble using marketing tools on the platform.
Along with the rise of the trend of shopping combined with entertainment (Shoppertainment), short-form video is the best means to influence users' trust and purchasing behavior. According to a report conducted by TikTok on the shopping behavior of users in Vietnam during the 2023 Holiday season, 69% of users prioritize watching short-form videos to learn about products and services. Of these, 84% of users are convinced to buy the brand's products and services. Another analysis of TikTok in the period September 9 - December 2022 also shows that, compared to TikTok Shop sellers who do not use advertising on TikTok, the TikTok Shop sales community does use advertising. reported 12% higher average gross sales (GMV).
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| Mr. Jason Song, Marketing Director of Small and Medium Enterprises in Asia Pacific of TikTok, introduces opportunities for MSMEs |
To help businesses maximize the above opportunities and keep pace with the advertising trend at the beginning of the year, TikTok introduced a system of diverse advertising solutions during the event. Outstanding is the intersection between content and commerce to increase efficiency from communication campaigns to revenue. Diversity in content creation will help small and medium-sized businesses take advantage of the full potential of the Shoppertainment trend - combining entertainment and shopping experiences. This helps users feel comfortable when viewing advertising content, easily converting viewers into potential customers. In addition, sellers are also supported in building advertising funnels suitable for each marketing purpose with 3 levels from awareness, consideration to action to achieve the goals of expanding customer coverage. leads, drive interest and engagement, and trigger purchases.
TikTok also highlights the potential for groundbreaking interactions between brands and users with its endless loop model. After brands create appropriate entertainment content, users will continuously explore, interact, consider and naturally form shopping trends. Users attracted by the appeal of the content will actively pay attention and interact with the brand. Purchasing will also become a part of entertainment and users will be willing to share their feelings with friends, connecting with the consumer community after purchasing and using the product. This creates an attractive cycle between brands, consumers and communities, bringing sustainable value and nurturing continuous growth for businesses. TikTok believes that this will be an opportunity for businesses to sharply increase traffic and orders during this 2024 Tet shopping season.
Joining TikTok Shop in October 10, Rhys Man, a personal care brand for men, aims to boost sales and create a seamless and seamless shopping experience for users. Through the implementation of affiliate marketing campaigns (Affiliate Marketing) combined with effective use of shopping advertising solutions (Shopping Ads) such as video shopping advertising, Livestream shopping advertising and shopping advertising product, Rhys Man has recorded significant growth, currently revenue on TikTok contributes to 2022% of the brand's total revenue.
Mr. Jason Song, Marketing Director of Small and Medium Enterprises Asia Pacific, TikTok, said: “Small and medium enterprises are always an important pillar to help boost the economies of countries in the region in general and Vietnam in particular. However, this community group's potential to invest in online sales and digital marketing has not been fully exploited. “TETastic with TikTok” will be our first effort in 2024, to continue supporting small and medium enterprises to improve their digital transformation capabilities through training programs, consulting and marketing tools. on the platform. We hope TikTok can become a driving force for Vietnamese SMBs to develop sustainably and contribute even more strongly to the national economy."
