TikTok for Business: Does Your Business Need To Be On TikTok in 2023? (2024)

While there is no question that TikTok is large and growing, there a question of whether or not your business should be there to cash in on the time and attention dedicated to the platform. There are over one billion users on TikTok and in just one internet minute, TikTokers watch 167 million hours of video content. With so many users spending so much time on TikTok, most businesses are wondering if they should be participating.

TikTok will likely continue to grow in 2023, so as you plan for the next year, it is important to consider if your business should be on the platform.

While it could be a great opportunity for your business, launching your business presence may not be the best decision. Here are seven questions to ask when evaluating TikTok for your business.

Is your audience there?

As the TikTok user base grows, the audience becomes broader and broader. That being said, TikTok does still skew toward younger audiences. 48 percent of TikTokers are between the ages of 18-29, according to Pew research. Prior to jumping on the TikTok bandwagon, check that your audience is active and engaged on the platform.

Can you effectively target your audience?

Even if your audience is active on TikTok, it may be difficult to find them on the platform. TikTok videos work off of an algorithm that shows content to people based on their interests. So if I'm interested in kitchen renovations, I'll see videos of renovated kitchens. While looking at the kitchens gives me plenty of ideas, I may not even know the vendors or products used.

Local businesses with a physical storefront may generate thousands or millions of views but not gain any new customers. TikTok content isn't typically localized. If I saw a TikTok of a great hair stylist, I wouldn't even assume that they would likely be in my area to look them up.

On the other hand, Amazon products, fashion items and gadgets drive huge commerce through TikTok. People see the products and find them online to purchase. There are entire categories on Amazon based on popular TikTok videos.

Consider if you can reach a relevant audience that is interested in your products or services on TikTok.

Is the TikTok audience incremental?

While a lot of businesses are excited about the big numbers of TikTok users, you may already be reaching these audiences on other platforms. For example, many TikTok users are already active on Instagram or even Youtube. Businesses that are already active on Instagram and use the Meta ads platform may already be reaching the TikTok audience.

Consider if the audience on TikTok is incremental to your business, or if you are already effectively reaching them somewhere else.

Can you create appropriate content for the platform?

One of the biggest, if not the biggest, challenges with TikTok for businesses is content creation. For a business to do well on TikTok, its content should do three things. First, the content must be authentic and relevant to the platform. Many businesses that use an agency don't have an easy way to create relevant content for the platform. Even small businesses can struggle to consistently create great short videos.

Next, the content should meet business objectives. Getting a ton of views may feel great, but it doesn't necessarily sell your product. Your product or brand must be integrated into the video in a relevant way for the views to translate into business value.

Finally, your videos should be constructed to be liked by people and win in the algorithm. While videos with millions of views get a lot of attention, many businesses put out video after video getting only a handful of views. The videos (TikTok has a free template) should be optimized for the algorithm to drive actual results for the business.

Do you have the resources to do it well?

Finally, businesses must be sure that they have the resources to create their presence and manage it consistently. Most businesses are already struggling to keep up with Instagram, Facebook, LinkedIn, YouTube, email and their website. Adding a new channel means adding resources to consistently create great content.

Businesses should critically evaluate if they have the resources needed to not just create an account, but post regular videos to keep their audience engaged. TikTok has created a small-to-medium business center where you can see what other businesses, like you are creating.

While there is no doubt that TikTok is a great opportunity for businesses, don't be too quick to jump in. Evaluate if this is the right opportunity for your organization and assign consistent resources to build your success over time.