Latest / The Ecommerce Revolution Podcast / TikTok Shops: Road To Billions?
Transcript
- 0:01Welcome to today's episode of the e-commerce revolution podcast
- 0:04where we dive into
- 0:05the dynamic world of e-commerce and uncover the tools and
- 0:08tactics that empower
- 0:09SPEAKER_00: today's emerging entrepreneurs.
- 0:12SPEAKER_00: Our podcast is part of our community with the same name.
- 0:15The community is geared to providing emerging e-commerce
- 0:18entrepreneurs with courses,
- 0:19content and coaching to help you all launch and grow successful businesses.
- 0:24SPEAKER_00: Check us out at ecomrevolution.co.
- 0:28SPEAKER_00: Let's get things started.
- 0:37SPEAKER_00: I'm really, really excited about today's topic.
- 0:40SPEAKER_00: We're exploring one of the most exciting developments,
- 0:43SPEAKER_00: in my opinion,
- 0:44SPEAKER_00: and maybe others out there too,
- 0:45SPEAKER_00: in the world of social commerce,
- 0:47SPEAKER_00: and that is TikTok Shops.
- 0:50SPEAKER_00: As a platform where creativity meets commerce,
- 0:52TikTok has opened up a new frontier for businesses looking to
- 0:56tap into a vibrant
- 0:57SPEAKER_00: and highly engaged audience.
- 1:00we'll discuss how TikTok shops are not just transforming how
- 1:03brands sell online,
- 1:04SPEAKER_00: but are also reshaping consumer expectations and shopping behaviors.
- 1:09SPEAKER_00: Whatever your opinion is on TikTok at this point,
- 1:12I definitely want you to put that aside and really dive in and
- 1:15understand what
- 1:16TikTok shops are all about and what the opportunities are like
- 1:20for you in the world
- 1:21SPEAKER_00: of e-commerce with TikTok shops.
- 1:24SPEAKER_00: So with that being said,
- 1:26SPEAKER_00: Today we've invited an expert on all things TikTok.
- 1:29SPEAKER_00: Today's guest runs a social media agency in Nashville,
- 1:31SPEAKER_00: Tennessee that specializes in live streaming and social media.
- 1:36Our guest believes that the key to a strong digital strategy is
- 1:40to be consistent,
- 1:41SPEAKER_00: which I absolutely 100% agree.
- 1:44SPEAKER_00: And also, don't put all your marketing into one platform.
- 1:48SPEAKER_00: There are lots of platforms out there.
- 1:50SPEAKER_00: Find out which one is best for your buyer persona, right?
- 1:52And make sure your digital strategy is wide enough to capture
- 1:56people's hearts.
- 1:58So,
- 1:59without any further ado,
- 2:00please welcome Corey Ifrit to the Ecommerce Revolution podcast.
- 2:05SPEAKER_01: I mean, thank you.
- 2:06SPEAKER_01: Thank you so much.
- 2:07I know it's been a little bit since we last talked and I'm
- 2:10always really excited to
- 2:11be on like podcasts and interviews and continue talking about
- 2:16the world of social
- 2:18SPEAKER_01: commerce and marketing because I'm so fascinated by it and everything is.
- 2:23SPEAKER_01: changing every single day.
- 2:24SPEAKER_01: So it's always something very exciting to be a part of.
- 2:28SPEAKER_00: Yeah.
- 2:29SPEAKER_00: Well,
- 2:29SPEAKER_00: tell me just before we get started with the questions about TikTok shops,
- 2:32SPEAKER_00: what brought you to this point?
- 2:35SPEAKER_00: You know, you definitely are very passionate.
- 2:37The times that we've spoken,
- 2:38you know,
- 2:39you've shown me how passionate you are.
- 2:41And obviously everything you do at your agency is all focused
- 2:44around social media
- 2:45SPEAKER_00: and a lot of emphasis right now on TikTok shops.
- 2:47SPEAKER_00: But what brought you to this point?
- 2:50I think the main thing that brought me to this point recently
- 2:54is the COVID shutdown
- 2:56SPEAKER_01: in the whole world.
- 2:58SPEAKER_01: In Nashville, I lost my full-time job.
- 3:01SPEAKER_01: I was working at a catering company.
- 3:03SPEAKER_01: It was a local company here.
- 3:05SPEAKER_01: And I was doing freelance at the same time with social media marketing.
- 3:09So I just decided to make that a little bit more a part of my
- 3:13life and go down that career path.
- 3:15SPEAKER_01: And I built the agency officially as an LLC during that time,
- 3:20SPEAKER_01: right at the beginning of the COVID shutdowns.
- 3:23SPEAKER_01: And, um,
- 3:24Fortunately for me and my company,
- 3:27we did expand and grow very quickly during that time.
- 3:31SPEAKER_01: And I know it was really hard for a lot of people and a lot of sadness.
- 3:36And there are other business owners that I know that have also
- 3:42felt that they have
- 3:43SPEAKER_01: grown and that they really succeeded during that time.
- 3:45SPEAKER_01: So I think that that is the biggest factor for me.
- 3:47SPEAKER_01: It kind of put me over the edge of
- 3:50going from freelancer to a small business owner or freelancer
- 3:54to marketing agency owner.
- 3:57SPEAKER_01: And then just before that,
- 3:59SPEAKER_01: growing up in high school and college,
- 4:02SPEAKER_01: I was always trying to start my own businesses,
- 4:04SPEAKER_01: like t-shirt companies and print on demand and other things like that.
- 4:10And just getting into more of promotional items during college
- 4:15when I was working at
- 4:17The College Activities Board,
- 4:19always researching those for giveaways and everything.
- 4:21SPEAKER_01: So that really sparked my interest in e-commerce and then...
- 4:29Just getting to this point now,
- 4:31now my whole life is revolving around e-commerce.
- 4:34Well,
- 4:34you are a true entrepreneur,
- 4:36you know,
- 4:36starting out businesses at that early age.
- 4:39SPEAKER_00: You know, I love it.
- 4:39SPEAKER_00: And I try to encourage,
- 4:40SPEAKER_00: you know,
- 4:40SPEAKER_00: my kids and,
- 4:41SPEAKER_00: you know,
- 4:42SPEAKER_00: other young,
- 4:43SPEAKER_00: it is possible right now,
- 4:44SPEAKER_00: especially with what we're going to talk about today.
- 4:46SPEAKER_00: The opportunities are vast,
- 4:49SPEAKER_00: you know,
- 4:49SPEAKER_00: for emerging e-commerce entrepreneurs,
- 4:51SPEAKER_00: no matter what age an entrepreneur is getting into this,
- 4:54SPEAKER_00: right?
- 4:55SPEAKER_01: Yeah.
- 4:56SPEAKER_01: So when I was in middle school, I was selling little pens.
- 5:00So I would cut a big pen in half and then I would make them
- 5:03mini pens and sell them
- 5:05SPEAKER_01: for 50 cents to some other students.
- 5:08SPEAKER_00: Wow.
- 5:08SPEAKER_01: So you're getting two pens out of one.
- 5:10SPEAKER_00: Yeah.
- 5:11SPEAKER_00: That's amazing.
- 5:13SPEAKER_00: I love it.
- 5:13SPEAKER_00: That's so ingenious.
- 5:15SPEAKER_00: Very cool.
- 5:16SPEAKER_00: Does that product still exist?
- 5:17SPEAKER_00: Is it out there?
- 5:18SPEAKER_00: Are you going to bring it back if it isn't?
- 5:19SPEAKER_01: Oh, I think I was the I think I was the first one who invented that.
- 5:27SPEAKER_00: Yeah, that's great.
- 5:30SPEAKER_00: I love it.
- 5:30SPEAKER_00: I love it.
- 5:31SPEAKER_00: Well, and I love I love the background.
- 5:33SPEAKER_00: And,
- 5:33SPEAKER_00: you know,
- 5:33SPEAKER_00: definitely during the pandemic,
- 5:35SPEAKER_00: obviously,
- 5:35SPEAKER_00: it was a very challenging time for many businesses out there.
- 5:38But also,
- 5:39it was a time of opportunity,
- 5:41a time of exploration,
- 5:42a time of trying new things.
- 5:44SPEAKER_00: And I think a lot of these came out.
- 5:45SPEAKER_00: And I do remember TikTok, you know, starting to explode.
- 5:49SPEAKER_00: The shop side of it was not in play yet.
- 5:52SPEAKER_00: But,
- 5:52SPEAKER_00: you know,
- 5:53SPEAKER_00: from the standpoint,
- 5:54SPEAKER_00: and I know everybody joked,
- 5:55SPEAKER_00: you know,
- 5:55SPEAKER_00: oh,
- 5:55SPEAKER_00: you got to make some music videos on there.
- 5:57SPEAKER_00: And that's what it's all about.
- 5:58SPEAKER_00: And obviously,
- 5:59SPEAKER_00: it has gotten,
- 6:00SPEAKER_00: it has come a lot further,
- 6:02SPEAKER_00: you know,
- 6:03SPEAKER_00: a lot longer,
- 6:03SPEAKER_00: a lot further away from that concept.
- 6:06SPEAKER_00: and more into, you know, how do you build a business on TikTok?
- 6:09SPEAKER_00: So I'm so happy that you're here to talk about it.
- 6:12SPEAKER_00: Well, if you're good with it, let's just dive into the questions.
- 6:15SPEAKER_00: OK, awesome.
- 6:16SPEAKER_00: Yeah.
- 6:16SPEAKER_00: All right.
- 6:17SPEAKER_00: So so let's talk,
- 6:18SPEAKER_00: you know,
- 6:18SPEAKER_00: so for those of who,
- 6:20SPEAKER_00: you know,
- 6:20there are definitely people out there who have never
- 6:22experienced they've heard of TikTok,
- 6:23SPEAKER_00: but maybe they've
- 6:24SPEAKER_00: never maybe even gone on and looked,
- 6:26SPEAKER_00: but maybe if they've gone on,
- 6:27SPEAKER_00: they've never really come across the shop part of it yet.
- 6:30SPEAKER_00: The shop part is fairly new in the evolution of e-commerce, right?
- 6:35Try to explain it to people who have never come encounter with
- 6:39it and possibly would love to,
- 6:42SPEAKER_00: From your perspective, can you explain it a little bit?
- 6:44SPEAKER_01: Yeah, absolutely.
- 6:45So TikTok Shop,
- 6:46I believe,
- 6:47is a bigger competitor to Amazon than they were last year.
- 6:51And it's going to continue to grow that way with TikTok and
- 6:56Amazon kind of like
- 6:58SPEAKER_01: trying to battle for the market share.
- 7:00SPEAKER_01: With TikTok Shop,
- 7:02I'm sure that a lot of you that are listening to this have seen
- 7:05sponsored videos or
- 7:07videos that have products linked in them where you can just tap
- 7:10it and then go to
- 7:12SPEAKER_01: the product page and add to the cart and buy from there.
- 7:15It's a very seamless process rather than the old way of trying
- 7:19to sell and
- 7:20SPEAKER_01: influence people on products on TikTok shop.
- 7:23SPEAKER_01: So it's not saying go to my link in bio anymore.
- 7:26It is actually a very short customer journey from seeing the
- 7:30video to purchasing.
- 7:33SPEAKER_01: And then there's the post-purchase strategies also.
- 7:36SPEAKER_01: But the TikTok shop is exactly...
- 7:41SPEAKER_01: To put it simply,
- 7:42SPEAKER_01: for people that don't understand or are not familiar with it,
- 7:46SPEAKER_01: it's basically like Amazon.
- 7:48SPEAKER_01: You can search specifically for things that you're looking for.
- 7:54SPEAKER_01: And also,
- 7:55it's better than Amazon because you're going to see videos of
- 7:58real product reviews
- 7:59SPEAKER_01: from creators and influencers,
- 8:02rather than just seeing it from the business owners or the
- 8:06sellers themselves.
- 8:08So I think that it's a great way to get the awareness out for
- 8:12products and
- 8:13I was talking to a couple people in the past week that we work
- 8:16with on TikTok Shop,
- 8:18and they were saying that their customers love shopping with
- 8:22them because their
- 8:24SPEAKER_01: products typically are cheaper on TikTok Shop than Amazon.
- 8:28SPEAKER_01: And TikTok is now trying to add more.
- 8:33SPEAKER_01: add more good positive policies.
- 8:36So TikTok is so great because they're introducing new ways of
- 8:39selling for the
- 8:41TikTok shop sellers themselves that will compete with Amazon
- 8:46even further.
- 8:48the shorter shipping times and all these deals that TikTok is
- 8:53putting out to the
- 8:55SPEAKER_01: customers and then reimbursing the sellers on.
- 8:58SPEAKER_01: That is something that's really amazing.
- 9:00SPEAKER_01: And also,
- 9:01SPEAKER_01: it's just a lot better user experience,
- 9:06SPEAKER_01: I think,
- 9:06SPEAKER_01: than shopping on Meta or shopping on Google.
- 9:10okay yeah well that's interesting that you bring up meta i feel
- 9:13like uh tick tock
- 9:14uh you know tick tock shops i mean tick tock itself and then
- 9:18the shop side of it
- 9:19caught meta sleeping a little bit um you know they didn't
- 9:22expect this uh and you
- 9:24know kind of came out of nowhere it's very integrated you know
- 9:27the shopping side of
- 9:28it's very integrated into into the platform uh you know kind of
- 9:31giving as you
- 9:32mentioned that's that seamless you know transition from you
- 9:35know from promotion uh
- 9:36SPEAKER_00: to product to you know to completion
- 9:40SPEAKER_00: At the end of the day, what sets TikTok shops apart from other social?
- 9:45SPEAKER_00: Give people a little example.
- 9:46SPEAKER_00: People have probably been on Instagram shops.
- 9:50SPEAKER_00: They've gone through Facebook as well.
- 9:52From your perspective,
- 9:54you already gave a few little points about why it's really good.
- 9:56How does it compare to the other social platforms and their
- 9:59shopping experiences?
- 10:01So on Facebook shops and Instagram shops,
- 10:05I think that it's so clunky as a user experience.
- 10:09SPEAKER_01: And when people are shopping on them,
- 10:11SPEAKER_01: not a lot of things actually come through from the websites.
- 10:15They have a really good integration with Shopify and probably
- 10:19other platforms like
- 10:22SPEAKER_01: BigCommerce as well.
- 10:24SPEAKER_01: But the real problem with Facebook and Instagram shops
- 10:29SPEAKER_01: is it's really hard to navigate.
- 10:33SPEAKER_01: And I know that you can search and you can filter,
- 10:35but looking at TikTok shops' appearance and display and their
- 10:41user experience
- 10:42SPEAKER_01: compared to Facebook and Instagram,
- 10:44SPEAKER_01: it's just uncomparable at this point.
- 10:48And with people spending more time on TikTok rather than
- 10:51Instagram and Facebook now,
- 10:54SPEAKER_01: the younger generations,
- 10:56SPEAKER_01: it's...
- 10:57SPEAKER_01: It's where you are at that time.
- 10:59So if you're scrolling on TikTok,
- 11:01you don't have to go to another platform to purchase.
- 11:05SPEAKER_01: And if you're on Meta or Instagram,
- 11:08you might want to go to TikTok or Amazon to see if there are
- 11:11better prices or
- 11:13SPEAKER_01: anything like that.
- 11:13SPEAKER_01: So I feel like Meta is kind of like a standard.
- 11:17SPEAKER_01: A lot of people...
- 11:19SPEAKER_01: that have been on Meta for years or since they started,
- 11:23SPEAKER_01: they probably have their shops on there.
- 11:26SPEAKER_01: They probably don't get a lot of traffic to it.
- 11:28But one of the the biggest thing I think is just the way of
- 11:34using it is not as
- 11:36SPEAKER_01: great as TikTok shop.
- 11:38SPEAKER_01: And when you are when all of your screen time is on TikTok and
- 11:43SPEAKER_01: a lot less screen time is on Facebook or Instagram,
- 11:46SPEAKER_01: then you're just there in the moment with TikTok,
- 11:48SPEAKER_01: which is what they are,
- 11:50what they have been pushing since the start of TikTok is like
- 11:54being the moment.
- 11:55SPEAKER_01: And with their algorithm, it's really powerful.
- 11:57SPEAKER_01: So that was a long winded answer.
- 12:01SPEAKER_00: And I hope that's great.
- 12:03SPEAKER_00: But I think people really need to know that, you know, that difference.
- 12:05SPEAKER_00: And it's almost like,
- 12:07SPEAKER_00: you know,
- 12:08SPEAKER_00: Facebook and,
- 12:09SPEAKER_00: you know,
- 12:09SPEAKER_00: and Instagram,
- 12:10SPEAKER_00: you know,
- 12:10SPEAKER_00: just the meta platforms,
- 12:12SPEAKER_00: you know,
- 12:12SPEAKER_00: shopping became an afterthought and add on,
- 12:14SPEAKER_00: you know,
- 12:15SPEAKER_00: a quick add on to and especially during the pandemic,
- 12:18SPEAKER_00: right?
- 12:18SPEAKER_00: Oh, boy, we got to make this thing happen.
- 12:19SPEAKER_00: We got to help people sell.
- 12:21SPEAKER_00: But it's not,
- 12:22SPEAKER_00: you know,
- 12:22SPEAKER_00: it's not that full seamless integration that tick tock,
- 12:25SPEAKER_00: you know,
- 12:25SPEAKER_00: has come into it with and tick tock.
- 12:27I mean,
- 12:27you know,
- 12:28they want the whole experience to happen right there on the platform,
- 12:30right?
- 12:31SPEAKER_00: They want it to, you know, all be right there.
- 12:33SPEAKER_00: So,
- 12:33SPEAKER_00: you know,
- 12:34SPEAKER_00: integration works,
- 12:35SPEAKER_00: you know,
- 12:35SPEAKER_00: seamless,
- 12:35SPEAKER_00: you know,
- 12:36SPEAKER_00: that that seamless process definitely,
- 12:38SPEAKER_00: definitely works.
- 12:39SPEAKER_00: Well, tell me just, you know, in terms of products,
- 12:42You know,
- 12:43your agency helps products launch on TikTok shops and you
- 12:47create the content.
- 12:48SPEAKER_00: I've seen some of them out there really, really good.
- 12:51SPEAKER_00: You know,
- 12:52you guys definitely have an eye for what people are looking for
- 12:55and what people and
- 12:56SPEAKER_00: how people are consuming.
- 12:59SPEAKER_00: But what kind of products,
- 13:00SPEAKER_00: you know,
- 13:00SPEAKER_00: do you see,
- 13:01SPEAKER_00: you know,
- 13:02SPEAKER_00: become really successful on TikTok shops,
- 13:04SPEAKER_00: maybe beyond just the ones that you do,
- 13:06SPEAKER_00: maybe the ones you've seen out there on your own as well?
- 13:10SPEAKER_01: Yeah, absolutely.
- 13:11SPEAKER_01: So the top or hot products on TikTok Shop,
- 13:17SPEAKER_01: mainly they are in the beauty category or fashion category.
- 13:21SPEAKER_01: Those are the top two that are driving the revenue on TikTok Shop.
- 13:26SPEAKER_01: While the other ones still make a lot of money,
- 13:28SPEAKER_01: it's just a lot of people will buy beauty or fashion first.
- 13:32So I think that the products that are very popular or hot
- 13:39selling usually are ones
- 13:42SPEAKER_01: that are already doing well on Amazon.
- 13:44or already doing well organically on other platforms or the
- 13:49seller's website.
- 13:50And then there's also another factor into it as well is if you
- 13:54have affiliates on
- 13:55TikTok shop where they're promoting on their own pages to their
- 13:59audiences and their
- 14:00SPEAKER_01: followers because you just get more horizontal awareness.
- 14:06SPEAKER_01: rather than vertical awareness by you just promoting yourself.
- 14:10So with a lot more people promoting them and their audiences
- 14:13trusting them and
- 14:14SPEAKER_01: being influenced by them,
- 14:16SPEAKER_01: that just drives more sales and more traffic to that product,
- 14:20SPEAKER_01: which will make it more popular and more viral.
- 14:22SPEAKER_01: And with the algorithm, it'll be shown to more people.
- 14:25SPEAKER_01: So one product I have,
- 14:28SPEAKER_01: for example,
- 14:29that's been viral for months now is the 15-day colon cleanse or
- 14:3315-day gut cleanse,
- 14:34SPEAKER_01: whichever
- 14:36uh there's a couple products like that but there's one that has
- 14:38sold close to a
- 14:39million units um so that is very that's one of the top products
- 14:44um another another
- 14:46one is shilajit so that is um probably something that has been
- 14:50viral for like two
- 14:52or three months at this point um and there are three companies
- 14:56that i know about we
- 14:57don't work with any of them but there are three companies i
- 14:59know about that are
- 14:59SPEAKER_01: making
- 15:01hundreds of thousands of dollars in sales a month from selling
- 15:04just one product.
- 15:06So it really takes some time to see if your products will do
- 15:12well if they're not
- 15:13already doing well organically or they're not already selling
- 15:16well on other platforms.
- 15:18SPEAKER_00: Okay.
- 15:18SPEAKER_00: So if I come into,
- 15:19SPEAKER_00: you know,
- 15:20SPEAKER_00: if I come to your agency and I say,
- 15:21SPEAKER_00: Oh,
- 15:21SPEAKER_00: listen,
- 15:22SPEAKER_00: uh,
- 15:22SPEAKER_00: brand new product,
- 15:23SPEAKER_00: you know,
- 15:24SPEAKER_00: new idea here.
- 15:26SPEAKER_00: Uh, maybe I'm importing the product in from, you know, overseas.
- 15:30SPEAKER_00: Um, not, you know, I have no following.
- 15:33SPEAKER_00: I have no, you know, I've done nothing on Tik TOK.
- 15:35SPEAKER_00: Are you able to still take me,
- 15:37SPEAKER_00: uh,
- 15:38SPEAKER_00: on and,
- 15:39SPEAKER_00: you know,
- 15:39SPEAKER_00: get me,
- 15:40SPEAKER_00: you know,
- 15:40SPEAKER_00: you said it possibly takes a lot longer to get there if there's no,
- 15:45SPEAKER_00: but,
- 15:45SPEAKER_00: uh,
- 15:45SPEAKER_00: is that,
- 15:46SPEAKER_00: is that a doable,
- 15:47SPEAKER_00: is that doable?
- 15:48Yeah,
- 15:48so I think that any seller,
- 15:50any product that they sell as well has an audience on TikTok.
- 15:55SPEAKER_01: You just need to find it.
- 15:56So when you are just launching your product or you're launching
- 15:59your whole new
- 15:59SPEAKER_01: TikTok account,
- 16:01SPEAKER_01: you need to post as many times as you can a week.
- 16:05There are best practices like posting three times a day that
- 16:10will get you seen a
- 16:11lot more than one of your competitors that or somebody that
- 16:14sells a similar product
- 16:15SPEAKER_01: that's only posting one time a day or once a week.
- 16:19SPEAKER_01: You will be seen more.
- 16:20SPEAKER_01: And then with live streaming.
- 16:24SPEAKER_01: Live streaming will help, especially in the year of 2024 and beyond.
- 16:29Live streaming is going to be a huge thing that TikTok is going
- 16:33to focus on.
- 16:35SPEAKER_01: So they're going to want to bring more people in that are live streamers,
- 16:38SPEAKER_01: train live streamers,
- 16:40SPEAKER_01: like all of the partners have to train their clients on live streaming.
- 16:45SPEAKER_01: So they want more people to go live,
- 16:47SPEAKER_01: not saying that they should spend less time on short form videos.
- 16:51but it is going to be something that tick tock is going to push
- 16:54this year so jump
- 16:55on the train now yeah interesting so this would be my qvc
- 16:59moment if you will right
- 17:00you know get out there and you know now i have an opportunity
- 17:03as an entrepreneur i
- 17:05don't need a big huge production facility right i can probably
- 17:08just take out my
- 17:09phone and start recording probably get get organized too you
- 17:13know maybe have the
- 17:13SPEAKER_00: products you know behind me and show and then
- 17:17SPEAKER_00: Am I then directing people to go into,
- 17:19SPEAKER_00: or are the products actually showing up on the live stream as well?
- 17:24SPEAKER_01: Yeah,
- 17:24and that's the beauty of TikTok Shop live streams is there's a
- 17:28whole live showcase
- 17:30SPEAKER_01: that you can add all of your products.
- 17:32Plus,
- 17:32if you're an affiliate,
- 17:33you can add some other people's products in there.
- 17:35SPEAKER_01: And then when you're live, you can pin products.
- 17:38SPEAKER_01: It'll come up at the bottom of the chat, at the bottom of the comments.
- 17:42SPEAKER_01: So they can easily click on that and then click buy now.
- 17:45SPEAKER_01: And just in two clicks, they're done and you got a sale.
- 17:48SPEAKER_00: Folks, this is amazing.
- 17:49SPEAKER_00: I mean, honestly, this is...
- 17:51SPEAKER_00: You know,
- 17:52SPEAKER_00: companies used to spend millions,
- 17:54SPEAKER_00: right,
- 17:54SPEAKER_00: going on QVC,
- 17:55SPEAKER_00: trying to get,
- 17:56SPEAKER_00: you know,
- 17:56SPEAKER_00: that audience,
- 17:57SPEAKER_00: big,
- 17:57SPEAKER_00: huge production facility.
- 17:59SPEAKER_00: You know,
- 17:59SPEAKER_00: it's all kind of evaporated and it's now,
- 18:01SPEAKER_00: you know,
- 18:01SPEAKER_00: down to,
- 18:02SPEAKER_00: you know,
- 18:03SPEAKER_00: anybody can do this.
- 18:04SPEAKER_00: You know, there's obviously a strategy that goes with everything.
- 18:07It's not like you're just going to start doing this and you're
- 18:09going to,
- 18:10you know.
- 18:10SPEAKER_00: Be successful on day one.
- 18:12SPEAKER_00: Maybe if you will, please call us because we'd love to talk to you.
- 18:14SPEAKER_00: Right.
- 18:15But there's strategy and that's where,
- 18:16you know,
- 18:17your agency comes in to really help people.
- 18:20SPEAKER_00: And how long are these live streams usually?
- 18:22SPEAKER_00: Like on average, how long do they have to be?
- 18:25SPEAKER_01: Or should they have to be between?
- 18:26Yeah,
- 18:27they have to be between two or sorry,
- 18:29they have to be between one to two hours.
- 18:31SPEAKER_00: Okay.
- 18:32SPEAKER_01: And if you are making sales and you do have a lot of viewers on there,
- 18:37SPEAKER_01: it's suggested not to stop it.
- 18:39SPEAKER_01: Just because you wanted to go live for two hours,
- 18:41SPEAKER_01: you should continue because who doesn't want more money?
- 18:44SPEAKER_00: Yeah, but it's fascinating.
- 18:46SPEAKER_00: Like I have to go.
- 18:47SPEAKER_00: I've got a doctor's appointment, but I'm making money.
- 18:50SPEAKER_00: I got to keep going and going.
- 18:51SPEAKER_00: Right.
- 18:51SPEAKER_00: This is fascinating.
- 18:53SPEAKER_00: So,
- 18:53SPEAKER_00: you know,
- 18:54SPEAKER_00: just in terms of products and price points,
- 18:56SPEAKER_00: you know,
- 18:57SPEAKER_00: is there any number out there that would indicate a good price point?
- 19:01SPEAKER_00: You know,
- 19:01SPEAKER_00: if I came to you with a product that's $500 a unit,
- 19:04SPEAKER_00: you may be based on data would say,
- 19:06SPEAKER_00: you know,
- 19:07SPEAKER_00: that might not work as well in TikTok,
- 19:09SPEAKER_00: TikTok shops,
- 19:09SPEAKER_00: or is that,
- 19:10SPEAKER_00: you know,
- 19:10SPEAKER_00: like,
- 19:11SPEAKER_00: whatever works?
- 19:13SPEAKER_01: Yeah, I believe whatever works.
- 19:15SPEAKER_01: If you have a product that is $500, it's going to be a harder sell.
- 19:20SPEAKER_01: Um, then a product that's $1.
- 19:22SPEAKER_01: Um, but you do have the audience on tech talk.
- 19:24SPEAKER_01: There's 170 million plus people on tech talk daily or monthly weekly.
- 19:30SPEAKER_01: So that is something that you can take into account.
- 19:33If you do have a rough time and you're seeing other people make
- 19:37a lot of sales,
- 19:38then that may be because they are not making a lot of profit
- 19:41because they have low
- 19:43SPEAKER_01: price points.
- 19:44SPEAKER_01: So getting on the price points,
- 19:45SPEAKER_01: though,
- 19:47SPEAKER_01: for a lot of people,
- 19:49there's a misconception and they think that you should price
- 19:54your products as low
- 19:55SPEAKER_01: as possible on TikTok because that's all that people are looking for.
- 19:58Yes,
- 19:58that is going to be an impulse buy and it's going to help you
- 20:01get more sales.
- 20:03um and it may help you break even um but you do want to have a
- 20:06good healthy profit
- 20:07margin so that way if you're selling a ton um you don't want to
- 20:10put that much time
- 20:12a ton of time into it and not make much money afterwards and
- 20:17there are strategies
- 20:18where that does work at the beginning so you get that proof of
- 20:20concept um but for
- 20:22SPEAKER_01: anybody that is just generally asking that question or is curious
- 20:26SPEAKER_01: You can sell anything at any price point.
- 20:28SPEAKER_01: If you do have products that sell a little bit lower than your others,
- 20:34SPEAKER_01: I would definitely promote those first.
- 20:37And I would definitely put out a wide range of price points for
- 20:43your products.
- 20:44SPEAKER_01: And always test them too,
- 20:46SPEAKER_01: because even if you were just starting an e-commerce store,
- 20:49SPEAKER_01: you would be testing out prices.
- 20:51SPEAKER_01: I would test out prices on TikTok shop when you were first joining.
- 20:55SPEAKER_00: Okay.
- 20:56SPEAKER_00: Can I sell service-based products or digital products?
- 21:00SPEAKER_00: Or is this all right now just tangible products?
- 21:03SPEAKER_01: Yeah, this is all tangible right now.
- 21:05I have heard from a couple of people maybe in the past six
- 21:09months that digital
- 21:10SPEAKER_01: products may come,
- 21:12SPEAKER_01: but nothing has been said by TikTok.
- 21:14And that would be very helpful for a lot of people because like
- 21:18me and you,
- 21:18we both need that.
- 21:21SPEAKER_01: If you do have a certain amount of followers and hit other requirements,
- 21:24SPEAKER_01: you can start series and you can have people pay for that.
- 21:27SPEAKER_01: And that's kind of like the digital learning.
- 21:30SPEAKER_01: Have you bought anything recently off of TikTok shops?
- 21:34SPEAKER_01: Yeah, I buy things every single day on TikTok shop.
- 21:38SPEAKER_01: I started off with just buying some things for testing it out.
- 21:43SPEAKER_01: And then I started buying a lot more.
- 21:45SPEAKER_01: So I do buy a lot more on TikTok shop rather than Amazon now.
- 21:50SPEAKER_01: And it's very surprising because TikTok shop sellers...
- 21:54A lot of them will get the shipping out or your package out in
- 21:57the same day that you buy it.
- 21:59SPEAKER_01: And then it'll come to your door like within two days.
- 22:01SPEAKER_01: So it's almost like Amazon Prime.
- 22:04SPEAKER_01: Wow.
- 22:04SPEAKER_01: That's amazing.
- 22:06SPEAKER_00: That's what we've come to expect because of Amazon Prime.
- 22:09SPEAKER_00: It's great that they're following suit.
- 22:11SPEAKER_00: So let me just go back to the steps.
- 22:13SPEAKER_00: So if I have no profile on TikTok, what are my steps just to get the...
- 22:20SPEAKER_00: shop side of it going?
- 22:21SPEAKER_00: I mean, I probably need a tick tock account first, right?
- 22:23SPEAKER_00: I need to set that up.
- 22:25SPEAKER_00: What else do I do after that?
- 22:27Do I start posting videos just to get a following before I put
- 22:31the shop up?
- 22:32SPEAKER_00: Is there you know, is there like a 123 guide here?
- 22:36SPEAKER_01: Yeah.
- 22:37SPEAKER_01: Um, so number one would be setting up your whole account.
- 22:40SPEAKER_01: So bio, uh, profile, photo, website, all of that stuff.
- 22:45And I guess putting that into,
- 22:47or putting this into one also is registering for TikTok shop.
- 22:51SPEAKER_01: Um,
- 22:52SPEAKER_01: and then getting all those approvals and linking your account,
- 22:55SPEAKER_01: your TikTok account to your seller center,
- 22:57SPEAKER_01: which is the backend of TikTok shop.
- 22:59SPEAKER_01: The second thing would be start posting.
- 23:01SPEAKER_01: It doesn't matter how many followers you have at the beginning.
- 23:04SPEAKER_01: I would start posting because you're going to regret if you didn't.
- 23:08SPEAKER_01: If you look back 10 days from now and you still haven't posted anything,
- 23:13SPEAKER_01: you're probably saying,
- 23:14SPEAKER_01: shoot,
- 23:14SPEAKER_01: I should have posted 10 days ago and look where I would be now.
- 23:17SPEAKER_01: So definitely start posting,
- 23:20even if you're not the best content creator in the whole world
- 23:22or you have no experience,
- 23:24SPEAKER_01: just post something,
- 23:25SPEAKER_01: a photo.
- 23:27SPEAKER_01: or any kind of short video clip.
- 23:29SPEAKER_01: And number two, or sorry, that is number two.
- 23:32Number three would be setting up your live areas and live
- 23:37spaces to go live.
- 23:40That is a very key part to TikTok Shop because if you don't
- 23:44make money through
- 23:45SPEAKER_01: short form videos,
- 23:46then you need another revenue stream that's not going to cost
- 23:50you money like
- 23:50SPEAKER_01: running ads.
- 23:52SPEAKER_01: So another revenue stream in TikTok shop would be live streaming.
- 23:56So I've seen a lot of people where they make more money with
- 23:59short form videos and
- 24:00SPEAKER_01: make little money on lives.
- 24:02SPEAKER_01: But I know a lot more people that don't make money on short form videos.
- 24:07SPEAKER_01: So they spend more time going live.
- 24:09SPEAKER_00: Wow.
- 24:11SPEAKER_01: throughout the week.
- 24:12SPEAKER_01: So that's 123.
- 24:13SPEAKER_00: That's great.
- 24:14SPEAKER_00: No, that's, that's, that's, that's, that's exactly what everybody needs.
- 24:18SPEAKER_00: You know,
- 24:19SPEAKER_00: I feel like these days,
- 24:21SPEAKER_00: you know,
- 24:21SPEAKER_00: and I say this to,
- 24:23SPEAKER_00: to entrepreneurs that I work with,
- 24:26SPEAKER_00: you have to,
- 24:26SPEAKER_00: you know,
- 24:26SPEAKER_00: if you're going to be in the world of ecommerce,
- 24:28SPEAKER_00: you almost have to be a content creator,
- 24:30SPEAKER_00: you have to have that mindset,
- 24:31SPEAKER_00: even if you're not going to be maybe the one in front of the camera,
- 24:34SPEAKER_00: You have to kind of tell a story, right?
- 24:36SPEAKER_00: You have to tell a story around your product.
- 24:38SPEAKER_00: No matter where you're doing it,
- 24:39SPEAKER_00: if it's TikTok or other places,
- 24:42SPEAKER_00: it's just become part of the routine.
- 24:45So I like that in your one,
- 24:48two,
- 24:48three,
- 24:49there is a process in there to get in.
- 24:51SPEAKER_00: And yes, you do need to create some content.
- 24:53SPEAKER_00: Corey,
- 24:54SPEAKER_00: in terms of products again,
- 24:55SPEAKER_00: and now that you've given us some strategies here on Instagram,
- 25:00SPEAKER_00: you know, posting and kind of the early days getting started in here.
- 25:03SPEAKER_00: One thing I did notice was,
- 25:05SPEAKER_00: you know,
- 25:05SPEAKER_00: and you slightly touched on it earlier,
- 25:07SPEAKER_00: these deep,
- 25:08SPEAKER_00: deep discounts that we see on there.
- 25:09SPEAKER_00: I was taking a look at one of a brand out there.
- 25:12SPEAKER_00: I think it was like a 45% discount on their product.
- 25:16SPEAKER_00: And you mentioned that TikTok actually absorbs that, right?
- 25:19SPEAKER_00: Is that is that the case all the time?
- 25:21Do they is this kind of part of their strategy to get people to
- 25:24start using and
- 25:25SPEAKER_00: buying from the platform?
- 25:29If you're lucky,
- 25:30you get that big of a discount from TikTok and they'll pay for it.
- 25:33SPEAKER_00: So it's usually not that high.
- 25:34SPEAKER_00: I guess I don't know.
- 25:35SPEAKER_00: Maybe I was seeing something that was not,
- 25:37SPEAKER_00: but I thought I saw like 45%,
- 25:38SPEAKER_00: which seemed really high for a discount.
- 25:42SPEAKER_01: Yeah, that is really high and you weren't seeing anything, uh, weird.
- 25:47SPEAKER_01: Um, that is totally, that's totally normal.
- 25:49SPEAKER_01: Um,
- 25:49SPEAKER_01: sellers will make it that cheap for a campaign that's,
- 25:53SPEAKER_01: um,
- 25:53SPEAKER_01: running like a promotional campaign from TikTok shop,
- 25:57SPEAKER_01: like mother's day campaign,
- 25:58SPEAKER_01: spring sale campaign,
- 26:00SPEAKER_01: back to school campaigns,
- 26:01SPEAKER_01: summer sale.
- 26:02SPEAKER_01: all of that stuff.
- 26:04SPEAKER_01: They will fund the coupons that they give to customers,
- 26:08SPEAKER_01: but they also require sellers to make a discount as well.
- 26:12SPEAKER_01: But what you might have saw was a new customer discount on TikTok Shop.
- 26:18So they'll give you,
- 26:19I've seen people get up to 90% off their first purchase.
- 26:23SPEAKER_00: Wow.
- 26:23So that's because I was coming in maybe for the first time
- 26:25looking at that brand.
- 26:27SPEAKER_00: That's why I was seeing that.
- 26:29But somebody else who maybe is on there like you,
- 26:31maybe you go in and see that same brand.
- 26:33SPEAKER_00: You may not see that same discount, right?
- 26:35SPEAKER_00: Right.
- 26:36SPEAKER_00: Wow.
- 26:36SPEAKER_00: Amazing.
- 26:37SPEAKER_00: Yes.
- 26:37SPEAKER_00: Yeah.
- 26:38SPEAKER_01: You may not see the same discount if the sellers.
- 26:42SPEAKER_00: Yeah, no, I was going to say, I mean, that's, that's pretty amazing.
- 26:44SPEAKER_00: I mean, think of the targeting that's happening here, right?
- 26:47SPEAKER_00: You know, obviously that's probably pretty easy data.
- 26:49Like they can see that I really am not that active on Tik TOK
- 26:52and they want to get
- 26:53SPEAKER_00: me in the mix,
- 26:53SPEAKER_00: right?
- 26:54SPEAKER_00: They want to get me to start shopping.
- 26:55And then I'm probably not going to see that,
- 26:57that amazing of a discount again.
- 27:01um maybe not from tick tock but definitely from sellers i've
- 27:04seen sellers have 50
- 27:05off discounts um some flash deals that um that sellers have
- 27:10during lives are almost
- 27:11at 80 off so they really try these strategies to get people in
- 27:16and drive traffic to
- 27:17that product and then they will sell you on their other best
- 27:20sellers or high
- 27:21profitable items so that's a good way that's a sure tease into
- 27:26like our live
- 27:27SPEAKER_01: training
- 27:28At the beginning of your live stream,
- 27:30definitely start out with your lowest cost product.
- 27:33So all of this in terms of the seller being able to make these
- 27:37deals and things
- 27:38SPEAKER_00: like that,
- 27:38SPEAKER_00: that's full control inside of the back end,
- 27:41SPEAKER_00: right?
- 27:41SPEAKER_00: You can do all of that.
- 27:43SPEAKER_00: Wow.
- 27:44SPEAKER_00: Sounds like a very sophisticated setup in there.
- 27:47SPEAKER_00: Tell me just in terms of,
- 27:49we know how important user-generated content is in the world of
- 27:53e-commerce with
- 27:55SPEAKER_00: reviews and things like that.
- 27:57SPEAKER_00: What do you see, you know, reviews?
- 27:59Are people very inclined to place reviews on TikTok on products
- 28:04that they buy off of TikTok?
- 28:05SPEAKER_00: And I guess a follow up to that is how does how does that go out?
- 28:09SPEAKER_00: Like,
- 28:09SPEAKER_00: you know,
- 28:10SPEAKER_00: in the world of generally commerce on Shopify,
- 28:12SPEAKER_00: you're just sending automated messages,
- 28:15SPEAKER_00: encouraging reviews.
- 28:15SPEAKER_00: Does that same thing happen on TikTok?
- 28:20SPEAKER_01: Yeah,
- 28:20so TikTok will send you a push notification on your TikTok app
- 28:25to review a product
- 28:27SPEAKER_01: almost one or two days.
- 28:29I think it's one or two days after you get the product
- 28:32delivered to your house.
- 28:33SPEAKER_01: They'll also send you an email too.
- 28:35And then they will send you another email a week later and ask
- 28:40you for your
- 28:40SPEAKER_01: feedback on that product.
- 28:42SPEAKER_01: So they do a lot of feedback.
- 28:45push notifications and email notifications to try to get that
- 28:48post purchase marketing going on.
- 28:50SPEAKER_01: I would say,
- 28:53with all of our clients and what i'm seeing um with other
- 28:56people that we work with
- 28:57is like 10 to 15 percent of the people that buy from you will
- 29:01leave a review um and
- 29:04that is people are getting more comfortable with it and the
- 29:07people that are your
- 29:08repeat customers can continue to uh give you reviews um so they
- 29:14would be able to um
- 29:16SPEAKER_01: give you a new one every time they purchase a new item.
- 29:19SPEAKER_01: But you can't do any fake reviews, so they're all verified.
- 29:22SPEAKER_01: They all have to be purchased by somebody on TikTok.
- 29:27SPEAKER_01: The only thing is they do import product reviews,
- 29:30SPEAKER_01: but it is known for those reviews that they're imported.
- 29:33SPEAKER_01: You can use Yachtpo,
- 29:34SPEAKER_01: which I'm sure you're familiar with,
- 29:37SPEAKER_01: from other sites,
- 29:38SPEAKER_01: and they will get put into your TikTok shop.
- 29:42SPEAKER_00: Okay,
- 29:42so if I have already a e-commerce site on Shopify that I built
- 29:47and I happen to have
- 29:48SPEAKER_00: a lot of reviews,
- 29:49SPEAKER_00: I can do that importing in there as well,
- 29:51SPEAKER_01: right?
- 29:52SPEAKER_00: So,
- 29:52SPEAKER_00: and then speaking of having my own e-commerce business,
- 29:55SPEAKER_00: you know,
- 29:55SPEAKER_00: and I've now decided,
- 29:56SPEAKER_00: oh,
- 29:56SPEAKER_00: TikTok shops is the right way to go.
- 29:59SPEAKER_00: What's that integration like, let's say with a Shopify out there?
- 30:03SPEAKER_00: What is it integrating?
- 30:04SPEAKER_00: Is it just integrating inventory or is it passing other data?
- 30:08SPEAKER_00: I mean, obviously you can import reviews, but what's the data look like?
- 30:12TikTok shop will not give you any data unless you're shipping
- 30:16from your other
- 30:18SPEAKER_01: platform like Shopify.
- 30:21There are a lot of connector apps that TikTok is partners with
- 30:27and that they
- 30:27suggest that you use if you're going to do that rather than the
- 30:30Shopify native integration,
- 30:32SPEAKER_01: which is the TikTok sales channel on Shopify.
- 30:35SPEAKER_01: So there are connector apps like Afterships, QIQ, Sudcommerce, Silk.
- 30:41SPEAKER_01: All of those ones do cost money, but they do their job.
- 30:46SPEAKER_01: They get products from your store and then put them into TikTok shop.
- 30:51And then it automatically does the inventory and more back end
- 30:55things on the TikTok shop side.
- 30:58SPEAKER_01: And then shipping.
- 30:58SPEAKER_01: If you want to ship using your own labels and not buy them from TikTok,
- 31:03SPEAKER_01: then those connector apps or the TikTok sales channel on Shopify,
- 31:07SPEAKER_01: that's how you can get that.
- 31:09um in a website like shopify but you can yeah and you can also
- 31:14if there are any
- 31:15amazon people on here you can also import your amazon products
- 31:19to tick tock and
- 31:20SPEAKER_01: then you can use um amazon mcf to ship wow okay
- 31:26SPEAKER_00: So, so I was going to ask you about the shipping part.
- 31:28SPEAKER_00: If I don't have Amazon,
- 31:29SPEAKER_00: I'm not set up,
- 31:30SPEAKER_00: you know,
- 31:30SPEAKER_00: on that side of things,
- 31:31SPEAKER_00: but,
- 31:32SPEAKER_00: um,
- 31:32SPEAKER_00: there is no fulfillment component at the moment with TikTok shops,
- 31:36SPEAKER_00: right?
- 31:36SPEAKER_00: It is, you are, it's a seller fulfilled, right?
- 31:39SPEAKER_00: Um, you can actually, um, you can actually ship from TikTok.
- 31:44SPEAKER_00: Yeah, you can.
- 31:45SPEAKER_00: Oh, I did not know that.
- 31:46SPEAKER_00: Okay.
- 31:46SPEAKER_00: That's fantastic.
- 31:47SPEAKER_00: So they have warehouses set up around the country.
- 31:49SPEAKER_00: Um, right now they have a couple.
- 31:53SPEAKER_01: But they are planning on doing more of that, I believe.
- 31:56SPEAKER_01: I haven't really heard anything in the past couple of months.
- 32:00But I believe they're trying to do that because that is another
- 32:03way they can
- 32:03SPEAKER_01: compete with Amazon with fulfillment by TikTok.
- 32:06SPEAKER_01: So they do have big sellers that are doing fulfillment by TikTok.
- 32:09And those products are being shipped out and packed by TikTok
- 32:14employees in Illinois.
- 32:16SPEAKER_01: And they ship them out to whoever bought them.
- 32:19SPEAKER_01: Yeah, you can definitely ship that way.
- 32:22SPEAKER_01: And then also you can buy your labels from TikTok too.
- 32:25SPEAKER_00: Oh, okay.
- 32:26SPEAKER_00: So if I'm doing USPS or UPS,
- 32:29SPEAKER_00: I assume are they tied into all the platforms,
- 32:32SPEAKER_00: all the carrier platforms?
- 32:34SPEAKER_01: Yep.
- 32:35SPEAKER_01: USPS, FedEx, and UPS and DHL.
- 32:40SPEAKER_00: God, I see where they're going with this.
- 32:42SPEAKER_00: This has essentially become the one-stop shop for everything.
- 32:46SPEAKER_00: At some point, do you need your own online store?
- 32:50That question,
- 32:51I think it's a well-rounded strategy to have your own online.
- 32:55SPEAKER_00: It's your own customer, right?
- 32:57SPEAKER_00: You own that customer.
- 33:02SPEAKER_00: Um,
- 33:03SPEAKER_00: are they as strict as Amazon is by the way,
- 33:05SPEAKER_00: in terms of sharing,
- 33:06SPEAKER_00: like,
- 33:07SPEAKER_00: can you see an email address from,
- 33:09SPEAKER_00: uh,
- 33:10SPEAKER_00: a tick tock,
- 33:11SPEAKER_00: uh,
- 33:11SPEAKER_00: you know,
- 33:11SPEAKER_00: uh,
- 33:13SPEAKER_00: um,
- 33:13SPEAKER_00: you know,
- 33:13SPEAKER_00: customer,
- 33:14SPEAKER_00: uh,
- 33:15SPEAKER_00: or they keep that pretty private because it's their customer.
- 33:17SPEAKER_00: You're just borrowing that customer, right?
- 33:19SPEAKER_00: Yeah.
- 33:20SPEAKER_00: They keep that very private.
- 33:21SPEAKER_00: Yeah.
- 33:22SPEAKER_00: So, okay.
- 33:23SPEAKER_00: I mean,
- 33:24SPEAKER_00: it's good for privacy,
- 33:25SPEAKER_00: but,
- 33:25SPEAKER_00: you know,
- 33:25SPEAKER_00: I know that's the same,
- 33:26SPEAKER_00: you know,
- 33:27that's the same issue a lot of people have with Amazon is that
- 33:30they can't,
- 33:31SPEAKER_00: you know,
- 33:32SPEAKER_00: it is not their customer,
- 33:34SPEAKER_00: right?
- 33:34SPEAKER_00: At the end of the day, it is Amazon's customer.
- 33:36SPEAKER_00: And it sounds like it is TikTok's customer.
- 33:39SPEAKER_00: Tell me, just in terms of, you know, demographic,
- 33:43SPEAKER_00: You know,
- 33:43SPEAKER_00: there's always that notion out there that TikTok is just for the young,
- 33:47SPEAKER_00: you know,
- 33:48SPEAKER_00: anybody who's,
- 33:49SPEAKER_00: you know,
- 33:50SPEAKER_00: in their teens and 20s.
- 33:52SPEAKER_00: But I've read data that that's not actually true anymore.
- 33:55SPEAKER_00: What's your take on it and what are you seeing?
- 33:57I'm seeing a lot more younger millennials and Gen Z on there
- 34:02more than any other age group.
- 34:04SPEAKER_01: However,
- 34:04SPEAKER_01: just like what you're saying,
- 34:05there are a lot more people coming onto TikTok like every day
- 34:09and making accounts.
- 34:10And they are a part of like Gen X or there are there are baby
- 34:15boomers that are on
- 34:17SPEAKER_01: TikTok and they're buying things because we can see their data.
- 34:20SPEAKER_01: So we know like from the sellers that we work with,
- 34:24we know that they get orders from people that are a lot older
- 34:28than they are as a seller.
- 34:31SPEAKER_01: But yeah,
- 34:31a majority of what I'm seeing in a majority of the sales are
- 34:35coming from that 25 to
- 34:37SPEAKER_01: 34 range.
- 34:39But yeah,
- 34:40there's a ton of there's a ton of people in all age groups on there.
- 34:44SPEAKER_01: And whatever anybody says about TikTok, it's not just dancing anymore.
- 34:49SPEAKER_01: And right, it is.
- 34:52SPEAKER_01: It's a it's just a fun place to be.
- 34:55SPEAKER_00: It is,
- 34:55SPEAKER_00: I'll be honest with you,
- 34:56SPEAKER_00: I,
- 34:57SPEAKER_00: my son sends me recipes,
- 35:00SPEAKER_00: you know,
- 35:00quick short form recipes with obviously the details of the
- 35:03recipe in the in the
- 35:04SPEAKER_00: text portion,
- 35:05SPEAKER_00: but I love them.
- 35:06SPEAKER_00: I mean,
- 35:07SPEAKER_00: there's some really good creators out there that are,
- 35:09SPEAKER_00: you know,
- 35:10SPEAKER_00: possibly,
- 35:11SPEAKER_00: you know,
- 35:11SPEAKER_00: I don't know if the person who does those recipes,
- 35:13SPEAKER_00: if he's selling anything now,
- 35:14SPEAKER_00: but he probably will.
- 35:16SPEAKER_00: He's probably going to come out with a line of cookware,
- 35:18SPEAKER_00: I guess,
- 35:19SPEAKER_00: and he's got such a big following.
- 35:20SPEAKER_00: All of a sudden,
- 35:21you have somebody who comes out of nowhere who is not a
- 35:25traditional celebrity in
- 35:27SPEAKER_00: that sense,
- 35:28but has the ability to get branded products made and sell them
- 35:31because their
- 35:31SPEAKER_00: following is so strong on there.
- 35:33SPEAKER_00: I think it's an amazing opportunity.
- 35:35SPEAKER_00: I know there's a lot of controversy around TikTok,
- 35:39SPEAKER_00: but I'm an entrepreneur and I look at where's the opportunity,
- 35:44SPEAKER_00: as long as you're doing things for good,
- 35:46SPEAKER_00: right?
- 35:46SPEAKER_00: As long as you're not, the platform is also doing things for good.
- 35:49So I think everybody should get on board if it fits,
- 35:53if it fits with their products.
- 35:54And after watching this,
- 35:56hopefully you can determine if it is and maybe even just experiment.
- 36:02SPEAKER_00: What's the future look like for TikTok?
- 36:05SPEAKER_00: At the time of this recording,
- 36:07SPEAKER_00: Congress has given ByteDance,
- 36:09SPEAKER_00: the owner of TikTok,
- 36:10SPEAKER_00: a year to sell the assets of TikTok,
- 36:15SPEAKER_00: obviously putting a strain and also putting a fear out there.
- 36:19SPEAKER_00: There are people who have built businesses on TikTok.
- 36:23SPEAKER_00: Where do you see the future going?
- 36:25SPEAKER_01: I see it going nowhere.
- 36:29This is probably going to be the wrong words,
- 36:31but I'm seeing it go nowhere.
- 36:34SPEAKER_01: I'm seeing it be the exact same.
- 36:36I don't think that,
- 36:38me personally,
- 36:39I don't think that it's going to be a huge change.
- 36:43And if there is some kind of ban or something that happens with
- 36:47the TikTok app,
- 36:49SPEAKER_01: then I'm sure that there's going to be another one.
- 36:51SPEAKER_01: that may be made by ByteDance or somebody that is in the US,
- 36:56SPEAKER_01: but kind of like knows the algorithm on TikTok.
- 37:00So there are going to be more apps and more social media
- 37:04platforms for us to use
- 37:06SPEAKER_01: and connect with other people for Congress and everything like that.
- 37:13SPEAKER_01: We haven't brought it up to any of our TikTok contacts,
- 37:16SPEAKER_01: and none of them have said anything to us about anything.
- 37:19SPEAKER_01: So it's just work or business as usual, as they say it.
- 37:24SPEAKER_00: Okay.
- 37:25SPEAKER_00: Yeah, that's interesting.
- 37:27Do you see – I mean,
- 37:29you mentioned TikTok shops and Amazon a number of times in this
- 37:33–
- 37:34SPEAKER_00: in the interview, uh, being competitors.
- 37:37SPEAKER_00: And I had read also that,
- 37:38SPEAKER_00: uh,
- 37:38SPEAKER_00: you know,
- 37:39SPEAKER_00: Amazon has two,
- 37:40SPEAKER_00: two names on their competitor list and it's,
- 37:43SPEAKER_00: and it's not Walmart anymore and it's not target.
- 37:45SPEAKER_00: It's, it's, uh, Temu and it's a TikTok.
- 37:48SPEAKER_00: Uh, do you, and I assume I'm pronouncing Temu correctly.
- 37:51SPEAKER_00: Yes.
- 37:52SPEAKER_00: Yeah.
- 37:52SPEAKER_00: I've heard it both ways, Timu and Temu.
- 37:58Do you see TikTok being able to beat Amazon out,
- 38:02or is it a different experience altogether?
- 38:04SPEAKER_00: And Amazon really shouldn't be as worried as they are.
- 38:07SPEAKER_01: I definitely think that Amazon shouldn't be worried as much as they are.
- 38:12SPEAKER_01: TikTok is going to take some market share and buyers away from them.
- 38:17But Amazon is still there and they're still proven to bring you
- 38:20things on time and very,
- 38:23SPEAKER_01: very quick.
- 38:24SPEAKER_01: and they do have cheap prices.
- 38:26SPEAKER_01: I think that you hit the nail right on the head.
- 38:29SPEAKER_01: It is a totally different experience from TikTok Shop to Amazon.
- 38:33So yes,
- 38:34TikTok will be bigger of a competitor and probably take more
- 38:38revenue away from them.
- 38:41But I think that people that enjoy TikTok Shop will continue on
- 38:45that experience.
- 38:46People that are like casual users of TikTok or maybe more of a
- 38:52user on Meta
- 38:53Might be Googling things and then land on Amazon or might be
- 38:56going to Amazon first.
- 38:58SPEAKER_01: But after like 10 or 20 or 30 years,
- 39:02there may need to be something that is something new out there
- 39:07that's not Amazon
- 39:07SPEAKER_01: because we're going to get old of that soon.
- 39:10SPEAKER_00: Yeah, yeah.
- 39:11SPEAKER_00: And I agree with you there.
- 39:12SPEAKER_00: You know,
- 39:13efficiency is what wins the game right now and and vast catalog
- 39:18selection and also
- 39:18SPEAKER_00: the kind of products that you need,
- 39:20SPEAKER_00: right?
- 39:20SPEAKER_00: You need certain products.
- 39:23SPEAKER_00: And you go to Amazon because you need them,
- 39:25SPEAKER_00: you know,
- 39:25SPEAKER_00: maybe on tick tock shops,
- 39:26SPEAKER_00: you're exploring and you're coming and finding fun products,
- 39:30SPEAKER_00: maybe using some of that disposable income to find things and
- 39:32SPEAKER_00: Same thing,
- 39:33SPEAKER_00: you know,
- 39:33SPEAKER_00: the other ones out there,
- 39:36SPEAKER_00: I know that Temu,
- 39:37SPEAKER_00: and can we agree it's Temu or should we call it Temu?
- 39:39SPEAKER_00: What should we call it?
- 39:41SPEAKER_00: What do you call it?
- 39:42SPEAKER_01: That commercial really got me confused.
- 39:44SPEAKER_01: I'm just going to say Temu, but usually I'll say Temu.
- 39:48SPEAKER_00: Yeah, okay.
- 39:49SPEAKER_00: And they're an interesting model too.
- 39:51And this is not obviously the podcast about them,
- 39:56but they fit TikTok shops.
- 39:59SPEAKER_00: They have a lot of products that you don't really necessarily need,
- 40:02SPEAKER_00: but you buy because one,
- 40:04SPEAKER_00: the deal is amazing.
- 40:05SPEAKER_00: or it's just really cool and fascinating,
- 40:08SPEAKER_00: and I see them coming up very quickly too,
- 40:11SPEAKER_00: and they use a lot of gamification on the app,
- 40:14SPEAKER_00: a lot of things spinning in your face,
- 40:17SPEAKER_00: and a lot of deals,
- 40:18SPEAKER_00: and we've got the greatest deal for you today,
- 40:20SPEAKER_00: Ramin,
- 40:20SPEAKER_00: and ooh,
- 40:21SPEAKER_00: let me click and see what it is.
- 40:22SPEAKER_00: They're all using those strategies really well.
- 40:25SPEAKER_00: Amazon doesn't use those strategies necessarily,
- 40:28but I believe they're probably watching really carefully and
- 40:32understanding that
- 40:33SPEAKER_00: To your point,
- 40:34SPEAKER_00: Corey,
- 40:34that there will come a time where that younger audience won't
- 40:40be interested in
- 40:40buying from Amazon because the experience is not in line with
- 40:44the way they shop.
- 40:46SPEAKER_00: TikTok shops is more in line with the way they shop.
- 40:48SPEAKER_00: Temu is more in line.
- 40:49Sheen,
- 40:50businesses that are really using and tapping into the younger
- 40:55mind out there.
- 40:57SPEAKER_00: But it's a fascinating time, isn't it?
- 40:59SPEAKER_01: Yeah, I definitely think that...
- 41:03SPEAKER_01: that a lot of new apps out there like Shein and Timu,
- 41:08both of those are just hitting the younger generations at the
- 41:13time that they need it,
- 41:14SPEAKER_01: maybe during when the economy is not as good as it usually is.
- 41:19SPEAKER_01: And people are more selective on what they want to buy.
- 41:22So if they don't want to buy from places that have normal prices,
- 41:26they might want to go to
- 41:28SPEAKER_01: those other apps and get something for very cheap,
- 41:31SPEAKER_01: but have to wait three or four weeks to get it.
- 41:33SPEAKER_01: I'm not a huge fan of those, but I have shopped on Shein before.
- 41:39SPEAKER_01: I haven't shopped on Timu yet,
- 41:41but I am not a fan really of those just because I would rather
- 41:47pay Amazon or TikTok.
- 41:50SPEAKER_00: Right.
- 41:51SPEAKER_00: Yeah, you actually need the product.
- 41:52Yeah,
- 41:53you might need that for your home or,
- 41:55you know,
- 41:55office or something like that.
- 41:57SPEAKER_00: That's very interesting.
- 41:58SPEAKER_00: Well,
- 41:58SPEAKER_00: I think you've done a fantastic job in,
- 42:00SPEAKER_00: you know,
- 42:01SPEAKER_00: really getting our minds around,
- 42:03SPEAKER_00: you know,
- 42:03SPEAKER_00: how to get into this and how to,
- 42:05SPEAKER_00: you know,
- 42:06SPEAKER_00: how to explore this opportunity,
- 42:08SPEAKER_00: you know,
- 42:09SPEAKER_00: known as TikTok shops.
- 42:10And,
- 42:10you know,
- 42:11it's about a year and some change old now,
- 42:14I think somewhere around there.
- 42:15SPEAKER_00: And it's coming fast.
- 42:17SPEAKER_00: And
- 42:18SPEAKER_00: you know, I see it everywhere.
- 42:19SPEAKER_00: I mean, I'm in the space.
- 42:20SPEAKER_00: So I, you know, pay very close attention.
- 42:22But,
- 42:23you know,
- 42:24it's,
- 42:24it's something that is going to transform the landscape.
- 42:28SPEAKER_00: And if it if it hasn't already,
- 42:31SPEAKER_00: but I think you've done a great job of like,
- 42:33SPEAKER_00: explaining how to do this.
- 42:35And I know that your agency can be really helpful to to
- 42:38businesses and really
- 42:39SPEAKER_00: getting them off the ground in this area.
- 42:42SPEAKER_00: Some people may want to try it on their own at first and see,
- 42:44SPEAKER_00: you know,
- 42:44SPEAKER_00: if they can give it a shot.
- 42:45SPEAKER_00: But
- 42:46SPEAKER_00: you know, you can be there.
- 42:47SPEAKER_00: Well, as we wrap up, I have a very, I have a question.
- 42:50I have this one question that I like to ask everybody now
- 42:53because it's so timely
- 42:54SPEAKER_00: topic and it's not about TikTok shops necessarily.
- 42:58SPEAKER_00: But I'd like to know just in terms of,
- 43:02AI,
- 43:02okay,
- 43:03and I'm sure,
- 43:03you know,
- 43:04AI is,
- 43:05you know,
- 43:05we know it's everywhere.
- 43:06SPEAKER_00: It's one of the hottest topics around.
- 43:09SPEAKER_00: We all use it in some way, in some form.
- 43:12SPEAKER_00: I'm assuming you do it in some way.
- 43:15SPEAKER_00: But I'd love to know just,
- 43:16SPEAKER_00: you know,
- 43:16SPEAKER_00: tell the audience,
- 43:17SPEAKER_00: you know,
- 43:17one amazing thing that you recently discovered using generative
- 43:21AI like ChatGPT or
- 43:24SPEAKER_00: Claude or any of those that made you stop and say,
- 43:27SPEAKER_00: wow,
- 43:29Actually,
- 43:30this is a really recent experience from a month and a half ago.
- 43:34SPEAKER_01: I learned from somebody else,
- 43:37SPEAKER_01: so I'm not taking credit for this,
- 43:38but I learned that when you are trying to teach ChatGPT about
- 43:43you first before
- 43:44SPEAKER_01: asking these questions,
- 43:45SPEAKER_01: you can...
- 43:47you can copy a lot of YouTube comments because if you go to
- 43:51YouTube and you look
- 43:52for a video that somebody else made that there may be a lot of
- 43:55questions about that
- 43:56SPEAKER_01: topic and answers to that topic in the comments,
- 44:00SPEAKER_01: just copy all of them,
- 44:02SPEAKER_01: put them in ChatGPT,
- 44:03SPEAKER_01: tell them to do things with it,
- 44:04and then that helps them learn a lot more about what you want
- 44:08ChatGPT to spit out
- 44:10SPEAKER_01: to you and what you want them to learn about you.
- 44:13SPEAKER_01: And then you can start asking those questions.
- 44:15SPEAKER_01: But when I was...
- 44:16When I was first using ChatGPT and other AI and not really
- 44:20feeding them the
- 44:21information about me and my business and just asking to come up
- 44:26with ad copy or
- 44:26SPEAKER_01: asking to come up with an email body,
- 44:29SPEAKER_01: it was very alarming.
- 44:32SPEAKER_01: And then I stopped using it for a while.
- 44:33And then I picked it back up a month and a half ago because as
- 44:37long as you give
- 44:39SPEAKER_01: ChatGPT the correct information and a lot of information about you,
- 44:43SPEAKER_01: you can ask it to do literally everything.
- 44:46you
- 44:46SPEAKER_01: And I'm, I'm, I'm getting to the point now.
- 44:49SPEAKER_01: Um, I made a course on it, um, about TikTok shop.
- 44:53So I went from,
- 44:55uh,
- 44:56I had it do all 27 modules for me and I know that it's still
- 45:00not perfect.
- 45:01SPEAKER_01: So I do have to go into it and,
- 45:03SPEAKER_01: uh,
- 45:04SPEAKER_01: and edit it just like we all have to with responses we get from AI.
- 45:09SPEAKER_01: Um,
- 45:09SPEAKER_01: but it does help me with,
- 45:10SPEAKER_01: uh,
- 45:11SPEAKER_01: the layout and the,
- 45:13SPEAKER_01: the guidelines and what the topics are and everything like that.
- 45:16SPEAKER_01: So.
- 45:16SPEAKER_01: That was my eye-opening experience.
- 45:19SPEAKER_00: I love that.
- 45:21Maybe we'll talk offline and convince you to come on and teach
- 45:24that course to our
- 45:26SPEAKER_00: community because I think it's very important.
- 45:29SPEAKER_00: But I always like to have these wow moments about AI.
- 45:31I feel like it's something that we should all take a look at
- 45:35and pay attention to
- 45:39SPEAKER_00: with the world of AI.
- 45:40SPEAKER_00: Can I share one more?
- 45:42SPEAKER_00: So thank you for sharing that wow moment.
- 45:45SPEAKER_01: Can I share one more thing that might be funny?
- 45:47SPEAKER_00: Yeah, sure.
- 45:48SPEAKER_00: Please share away.
- 45:49SPEAKER_01: I don't know if it's funny or not,
- 45:50SPEAKER_01: but I also made our employee handbook using Chaggy PT for my agency.
- 45:56SPEAKER_00: Nice.
- 45:58SPEAKER_00: That's awesome.
- 45:59I'm sure you're going to have a employment lawyer take a look
- 46:01at that as well at
- 46:02SPEAKER_00: some point,
- 46:03SPEAKER_00: right?
- 46:05SPEAKER_00: Yes, I know.
- 46:06SPEAKER_00: Well, it's everywhere.
- 46:07And listen,
- 46:08I know that a lot of our community members,
- 46:11you know,
- 46:11will,
- 46:11you know,
- 46:12be using if they haven't already,
- 46:14using it to create product descriptions,
- 46:16right?
- 46:16SPEAKER_00: Maybe writing,
- 46:17SPEAKER_00: you know,
- 46:17SPEAKER_00: or even creating their script for for tick tock,
- 46:20SPEAKER_00: if they're going to be launching on,
- 46:21SPEAKER_00: you know,
- 46:22SPEAKER_00: start doing,
- 46:22SPEAKER_00: you know,
- 46:23SPEAKER_00: a live stream,
- 46:23SPEAKER_00: you know,
- 46:23SPEAKER_00: having those talking points that they need to have.
- 46:27SPEAKER_00: Yeah,
- 46:27it has become very important not to say that this podcast was
- 46:30supposed to be about AI,
- 46:31SPEAKER_00: but I think AI fits into everything that we do now.
- 46:33SPEAKER_00: And I appreciate you sharing those those two examples.
- 46:36SPEAKER_00: And Corey, it's just been a pleasure to have you on.
- 46:38SPEAKER_00: I wanted to do this interview for a long time.
- 46:40SPEAKER_00: And
- 46:41SPEAKER_00: Finally, we got our season two going again.
- 46:44And I appreciate you coming on and sharing everything about
- 46:47TikTok and TikTok shops
- 46:48SPEAKER_00: and the strategies that really most,
- 46:52SPEAKER_00: if not all,
- 46:53emerging e-commerce entrepreneurs can put into process to get
- 46:57up and running.
- 46:58And if they can't get up and running and they don't want to do
- 47:00it all themselves,
- 47:00SPEAKER_00: they can definitely reach out.
- 47:01So maybe take a minute and tell the audience just where they
- 47:05can find out about you,
- 47:06maybe a little bit about your agency and ultimately how you can
- 47:09help them.
- 47:09SPEAKER_01: Yeah, for sure.
- 47:11SPEAKER_01: So we're located in Nashville,
- 47:12SPEAKER_01: Tennessee,
- 47:13SPEAKER_01: like Ramin said earlier,
- 47:14SPEAKER_01: and we are a marketing agency mainly for e-commerce,
- 47:18SPEAKER_01: but we do also help local services,
- 47:20SPEAKER_01: too.
- 47:20SPEAKER_01: So we do a lot of marketing on different platforms.
- 47:23SPEAKER_01: We focus on social media.
- 47:26SPEAKER_01: meta and TikTok.
- 47:28SPEAKER_01: And then we also do Google as well.
- 47:30SPEAKER_01: So we can help with literally everything on TikTok shop.
- 47:34SPEAKER_01: I know that this is what we're talking about on this podcast,
- 47:36SPEAKER_01: so I won't mention the other ones,
- 47:37but we can help literally with whatever you need on TikTok or
- 47:40TikTok shop,
- 47:41SPEAKER_01: whether that be influencer marketing,
- 47:44SPEAKER_01: live streaming,
- 47:45SPEAKER_01: content creation,
- 47:46SPEAKER_01: ads management,
- 47:48SPEAKER_01: anything like that.
- 47:49SPEAKER_01: or even shop management, we can help you with that.
- 47:52SPEAKER_01: You can find us on www.iffertmedia.com.
- 47:59SPEAKER_01: You can also email me at hello at iffertmedia.com.
- 48:08SPEAKER_00: Great.
- 48:08SPEAKER_00: We'll put those in the show notes,
- 48:09SPEAKER_00: by the way,
- 48:11SPEAKER_00: so people can find them and just click on them and find you right away.
- 48:14SPEAKER_01: Okay, good, because I think I messed up.
- 48:19SPEAKER_01: It's okay.
- 48:20SPEAKER_01: Listen, a lot of questions coming at you today.
- 48:23But we can help anybody grow on Meta or Google or TikTok with
- 48:29organic or paid media.
- 48:32SPEAKER_00: Thank you very much.
- 48:33SPEAKER_00: And thank you again, Corey, for coming on.
- 48:35SPEAKER_00: It's been a pleasure to have you on.
- 48:36SPEAKER_00: Fascinating topic.
- 48:38SPEAKER_00: Lots of information.
- 48:38Probably want to come back and have you on again maybe in a
- 48:42year or so and see
- 48:43SPEAKER_00: where things are and see if some of these predictions have panned out,
- 48:46SPEAKER_00: what the landscape looks like.
- 48:48SPEAKER_00: So thank you again.
- 48:49SPEAKER_01: I appreciate it, Ramin.
- 48:50SPEAKER_01: Thank you.
- 48:51SPEAKER_00: Until next time, see ya.
- 48:55All right,
- 48:55that brings us to the end of another episode of the e-commerce
- 48:59revolution podcast.
- 49:00SPEAKER_00: Don't forget to check out past episodes,
- 49:03which are all available on demand on YouTube and wherever you
- 49:06listen to your podcast.
- 49:08SPEAKER_00: Ready to join the revolution?
- 49:10SPEAKER_00: Become an exclusive part of our growing community of emerging e-commerce
- 49:14SPEAKER_00: entrepreneurs at ecomrevolution.co.
- 49:18SPEAKER_00: Until next time, see ya.