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TikTok Shop - Exploding Idea
PLUS - an exploding idea and great business ideas
Eric from ExplodingIdeas
October 22, 2023
Happy Sunday,
This week we’re looking at a potential paradigm shift reminiscent of the ecommerce opportunity perpetuated by Facebook/Instagram ads.
On a side note - for the business owners subscribed, the Reddit Strategy course is out (link). As an added bonus, first 10 buyers get introduced to my virtual assistant that I trained on these strategies and got me a few thousand subscribers via the strategy.
Now let’s get into it…
In this week's Exploding Ideas
This weeks exploding idea: TikTok Shop is a huge opportunity
New business ideas: 3 TikTok Shop businesses you can create
Here’s what I’m reading: 2 articles and 1 book I’m reading this week to level up my skills
👉Want access to the Ideas Database? Click here (link).
Read time: 3 min 23 sec
Exploding Idea: TikTok Shop
For those feeling as though they've missed previous ecommerce waves like dropshipping, TikTok has officially launched its in-app marketplace in the U.S., UK and South East Asia.
The new marketplace offers a new revenue stream that's already showing significant potential.
Keila, creator of the Shadow Work Journal, added her ebook to the TikTok shop and generated a massive $4,000,000 in sales in just the last 30 days.
Unlike Instagram, which has selective vendor policies, TikTok has made its platform accessible to any business located in the U.S., the U.K., or South East Asia.
It has also built a creator marketplace for easy affiliation and payment processes.
Basically, TikTok has built an innovative marketplace where sellers can easily reach out to influencers and give them affiliate fees - all handled through the TikTok infrastructure.
TikTok is giving extra algorithmic push to user-generated content around its Shop and is subsidizing $15-$25 for each customer's first purchase. This subsidy can essentially make products free for consumers and offers a unique incentive for new businesses.
The TikTok shop was fully launched in the U.S. on September 12, 2023. The opportunity is ripe now but may get oversaturated within the next 6-12 months.
Forget legacy platforms; TikTok presents a fresh canvas for initiatives like dropshipping, affiliate marketing, and direct brand creation. TikTok has also announced partnerships with established ecommerce platforms like Shopify and WooCommerce.
This is a massive opportunity to capitalize on the TikTok subsidy and ride the wave of the algorithmic push around TikTok Shop products.
With a less saturated ad market, a hungry audience, and unique perks like algorithmic push and consumer subsidies, TikTok's marketplace offers a fertile ground for ecommerce entrepreneurs to start new ventures.
Learn how to monetize this trend in the Deep Dive (link here)
Business Idea #1
Business Name: MindfulJar
Industry: Wellness and Self-improvement
Problem: In today's fast-paced world, people are increasingly looking for ways to improve mental health and find relaxation techniques that are quick yet effective. However, there's a gap in the market for products that seamlessly integrate with one's daily routine.
Solution: MindfulJar will offer a "Meditation Kit in a Jar," which includes a series of mindfulness cards, a mini aroma diffuser, and a QR code for accessing a custom meditation playlist. This all-in-one jar simplifies the meditation process, making it more accessible for those who want to meditate but find it challenging to start.
Competitive Advantage: MindfulJar's product is tailor-made for the TikTok Shop environment because it is both visually appealing for video content and easily relatable for creators who focus on wellness. The one-click QR code playlist offers additional content that can be frequently updated, encouraging repeat purchases. MindfulJar can make the most out of TikTok's algorithmic push and the subsidy for first-time buyers, offering the product at a price point that falls under the $15-$25 subsidy range.
Business Idea #2
Business Name: AdaptiTea Co.
Industry: Health and Wellness, specifically Adaptogen Teas for Stress Relief
Problem: With the increasing stressors of modern life, people are seeking natural, effective ways to manage stress. While there are various products in the market, many don't provide a holistic approach to stress management.
Solution: AdaptiTea Co. offers a line of adaptogen-infused teas that focus on various aspects of stress management, such as improving sleep, boosting mental clarity, and enhancing physical stamina. The teas come in convenient, eco-friendly packaging and with QR codes that link to relaxation exercises and educational content.
Competitive Advantage: AdaptiTea Co. would set itself apart by creating a community around stress management through TikTok. This involves not just partnering with influencers to showcase the product, but also with therapists, yoga instructors, and mental wellness advocates who can add value through their professional insights. AdaptiTea would offer these creators affiliate fees for conversions, aligning their incentives with those of the brand. The advantage of this is twofold: first, it provides educational and actionable content to potential customers; second, it builds a broader, more engaged community around the brand, thus making every customer a potential long-term advocate.
Business Idea #3
Business Name: TikRoll
Industry: Health and Fitness
Problem: Individuals looking to improve their core strength often face barriers such as lack of time, lack of motivation, or the expense of gym memberships and equipment.
Solution: TikRoll provides a sleek, compact, and effective ab roller designed to be easily used at home. Each purchase includes a unique code that grants access to a series of TikTok-exclusive instructional and motivational videos.
Competitive Advantage: TikRoll sets itself apart by fully integrating with TikTok's ecosystem. We would enlist TikTok fitness creators to produce User Generated Content (UGC) to showcase the real-world effectiveness and versatility of our ab roller. These creators will earn an affiliate fee ranging between 5%-20% for each product sold through their unique link, encouraging them to produce high-quality, convincing content.
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📚What I’m Reading
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