SOCIAL
Live-Stream Commerce Offers Big Potential for TikTok’s Growth Prospects
Predicting the future of social media marketing trends is always difficult, with new functions continuously emerging, and the sheer amount of apps gaining attention at any one time making it impossible to stay across every single new thing.
But if you want to know the future of TikTok, you have an advantage, because TikTok’s coming trends are already happening in China, with the Chinese version of the app, called ‘Douyin’, being used by over 600 million people, and already well ahead of TikTok in terms of development.
That’s why many of TikTok’s new features seem so well-formed, and why its algorithms seem so advanced – because it’s been refining them since 2016, when Douyin was first launched for mainland Chinese users.
So what’s the key trend on Douyin right now?
Live-stream commerce is the thing, with sales generated via Douyin live broadcasts rising 7x year-over-year in 2021, and the number of eCommerce live broadcast users exceeding 384 million – more than half the platform’s user base.
The live shopping trend is huge in China, with predictions that live shopping revenues will reach $400 billion in the region this year alone, which is equivalent to almost half of all eCommerce spending in the US last year. In addition, live-stream commerce is also increasingly popular among younger audiences, with users aged 27 and under seeing the fastest adoption of live-stream shopping.
If you were trying to get a gauge on the next big focus for TikTok, and where things are headed with its plans, this is where you should be looking.
And it’s already happening – as recently reported by NBC:
“Dozens of accounts on TikTok go live nearly every day to hawk stuffed animals, colored contact lenses, keychains, shoes, phone cases, faux leather purses, makeup tools, as well as a plethora of other goods. Some influencers have amassed more than 100,000 followers and regularly have hundreds or thousands of people watching their livestreams concurrently.”
Interestingly, many of these accounts are China-based, meaning that it’s often, at least right now, Chinese broadcasters expanding their market reach, while NBC also reports that TikTok is assisting some of these streamers in building their businesses in the app, as it looks to build on its eCommerce potential.
Which is a key focus for its monetization plans. At present, TikTok offers limited revenue potential, by comparison to, say, YouTube, because it can’t offer direct content monetization in the same way, due to its lack of in-stream and pre-roll video ads. You can’t insert ads into 30-second clips, which means that TikTok is at something of a disadvantage in terms of helping creators get paid for their uploads.
That’s already led to rumblings of unrest within the creator community – but maybe, if TikTok can facilitate a whole new market in live-stream commerce, that’ll enable it to negate any potential loss of talent that could come about due to creators not getting paid as they would like. If TikTok can replicate Douyin’s success with live-stream shopping, that could see more than 500 million users becoming active consumers in the app, fueling a whole new creator economy, and securing its future through enhanced connection, engagement and monetization.
So how will TikTok do it?
We’ve already seen the first inklings of this, with tests of live-stream shopping in partnership with Walmart and other retailers in the app.
The next iteration of this will include more live-stream functionality, with several additional options already present in Douyin.
These include simplified live-stream purchasing via one-click buying buttons:
Additional landing page components for live broadcasts:
There are also physical location components and other elements to drive off-platform purchases.
Douyin also has dynamic shopping tags and product buttons that appear in-stream (as in the top screenshot) enabling easier buying as you watch.
Some of these are already in the works, but you can expect more options making their way to TikTok soon, while there are also more ways to utilize the platform’s existing live-stream functions, like co-hosting with a second-screen.
Essentially, there are many tool that TikTok can add to evolve its live-stream shopping experience. And as it continues to grow, and develop its systems, that looks set to be a big focus moving forward.
But will live-stream commerce catch on in western nations as it has in China?
Many Chinese trends have failed to take hold in the same way – take Messenger Bots for example, which Meta made a big push on back in 2016. At the time, following Chinese usage trends, Zuck and Co seemed convinced that the increasing use of Messenger signaled the way forward for consumption habits, but Messenger Bots never really caught on, and Messenger hasn’t become the all-inclusive utility that Chinese messaging apps, like WeChat and QQ, have.
That might not be a great sign for TikTok’s prospects, but then again, as noted, the initial signs are there, and there is a level of interest in live-stream commerce already, which could signal growth potential.
And even if it doesn’t become the massive trend that it has on Douyin, even a quarter of TikTok’s users becoming engaged live-stream shoppers would still be significant.
There’s a way to go in determining the potential, but if you were looking for what’s coming next on TikTok, this is definitely a key element to watch.
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SOCIAL
Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?
In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.
The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.
According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.
Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.
Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.
The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.
This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.
Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.
As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?
Only time will tell.
SOCIAL
Catering to specific audience boosts your business, says accountant turned coach
While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.
When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.
“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.
Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.
“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â
“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.
“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.
Watch the video for more of Sandra Parker’s biggest lessons.
SOCIAL
Instagram Tests Live-Stream Games to Enhance Engagement
Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.
As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.
That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.
Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.
That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.
Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.
Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.
We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.
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