The fate of TikTok in the United States hangs in the balance, causing concern among its extensive user base, particularly those for whom the platform is a significant source of income.
Delyanne Barros, known online as @delyannethemoneycoach, credits the app for the rapid growth of her personal finance consulting business. Since the start of her venture in early 2020, TikTok has been instrumental in driving client engagement, contributing to nearly a third of her customer base.
While TikTok itself doesn’t pay her, the visibility it provides is crucial for the sale of her investment courses and for securing brand-sponsored content.
The potential impacts of a TikTok ban extend well beyond individual influencers.
A massive portion of TikTok’s 170 million monthly active users in the U.S., which includes seven million small businesses, rely on the platform for their livelihoods.
As a critical tool for connecting with customers and driving sales, many report that TikTok is indispensable for their operations.
Some small businesses attribute up to 69% of their increased sales over the past year to their presence on TikTok, highlighting the app’s importance in the digital ecosystem for entrepreneurs and content creators alike.
Discovering Success Through Social Media
As the digital landscape reshapes avenues for income, social media platforms emerge as pivotal tools for business growth and visibility.
Entrepreneurs and founders across various sectors can attest to this shift, employing platforms like TikTok to propel their business endeavors.
For instance, a money and career advice platform soared in popularity, accruing a following of millions, thanks to engaging content shared on the platform. This growth was not just about numbers; it translated into significant partnerships and expanded services.
Brand Exposure & Partnership Opportunities:
- Major Influencers: Entrepreneurs have utilized TikTok’s unique algorithm to their benefit, attracting numerous followers and securing partnerships and clientele.
- Brand Deals: Influencers and businesses report significant revenue contribution from brand collaborations initiated via TikTok engagements.
TikTok’s role extends beyond mere social networking; it acts as the entry point for potential customers and clients, defining how these audiences stumble upon new brands and services.
This ‘top of the funnel’ effect is critical for sustaining and cultivating a diverse customer base.
For innovative platforms aimed at youth empowerment through dialogue and community, the stakes are similarly high.
A ban could potentially disrupt the business model that thrives on the connection and visibility provided by TikTok.
In today’s economy, relying on a single income path is increasingly untenable, particularly for the young generation seeking financial stability.
Alternative Strategies to Mitigate Risks:
- Diversification: Businesses are encouraged to diversify their social media presence across various platforms to ease the impact of potential platform-specific risks.
- Resilience Building: Leveraging other marketing strategies, such as email lists, creates a cushion, ensuring continuity and growth independent of any one platform.
For advocacy groups, TikTok has been a valuable asset in expanding impact and securing significant brand deals.
These deals can account for a substantial portion of revenue, exemplifying the platform’s role in fostering business growth for socially-focused organizations.
In considering a potential TikTok ban, some founders look back on their more austere beginnings, contemplating a potential return to grassroots strategies to sustain their businesses.
Yet, the resilience embedded in these companies suggests adaptability, with plans in place to pivot and maintain growth, reflecting a blend of innovation and prudence.
TikTok’s unparalleled algorithm is credited with offering a distinct edge by delivering customized content to users, increasing engagement opportunities.
This feature is a cornerstone for creators who have mastered crafting content that resonates deeply with their audience.
In summary, TikTok has become a vital channel for visibility and income for many businesses.
While concerns about the impact of a potential ban loom, the push to diversify and build robust, multi-platform strategies continues as they adapt to the evolving digital landscape.
Editorial Credit: HayDmitriy / Depositphotos
