The strategy detailed for creating a side business with funds from the TikTok creator fund is multi-faceted and organized into three main approaches. Firstly, developing a unique product or service involves identifying a niche market related to your skills and interests. For instance, if you're skilled in crafting handmade jewelry, you’d start by researching market demand, creating prototypes, and refining them based on feedback before setting up an e-commerce platform.
The second approach focuses on monetizing a skill or hobby. This involves showcasing your proficiency on TikTok to build a following and then offering related services like online classes or consultations. For example, if you're a proficient painter, you could post tutorials and then offer personalized coaching sessions, using the creator fund to finance your initial marketing efforts.
The third strategy is affiliate marketing and partnerships. Joining relevant affiliate programs and collaborating with brands can maximize your reach. If you create content about fitness, you could partner with sportswear brands, using engaging content to promote their products and transparently disclose your affiliations to maintain trust.
The strategies
⛳️ Strategy 1: Develop a unique product or service
- Identify a niche market that aligns with your interests and skills
- Conduct market research to understand demand and competition
- Create a prototype of your product or outline your service offerings
- Seek feedback from potential customers or testers
- Refine your product or service based on feedback received
- Develop a pricing strategy that reflects value and competitiveness
- Create a brand identity including logo and tagline
- Build a simple and effective sales funnel via social media
- Leverage TikTok to market your product or service with engaging content
- Set up an ecommerce platform or service booking system
⛳️ Strategy 2: Monetise a skill or hobby
- Identify a skill or hobby that you are passionate about and proficient in
- Create a portfolio or showcase your work on TikTok and other platforms
- Build a following by posting consistently valuable and entertaining content
- Engage with your audience to understand their needs and preferences
- Offer online classes, tutorials, or consulting services related to your skill
- Use TikTok creator fund to initially finance your marketing efforts
- Create promotional materials such as flyers, videos, and social media posts
- Collaborate with influencers or other TikTok creators to expand your reach
- Develop a subscription model or membership program for loyal customers
- Track performance metrics and adjust your strategy based on feedback and results
⛳️ Strategy 3: Affiliate marketing and partnerships
- Join affiliate programs relevant to your content niche
- Identify and collaborate with brands that align with your audience's interests
- Create high-quality, engaging content that features affiliate products or services
- Disclose affiliate relationships transparently to maintain trust
- Utilise TikTok creator fund to boost your promotional content
- Analyse the performance of each affiliate partnership
- Negotiate better commission rates with successful partnerships
- Expand your network by attending industry events and webinars
- Create a blog or website to supplement your TikTok content with longer-format reviews and guides
- Use analytics to track conversions and optimise your marketing strategy
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
