15 Second Conversions

Michelle Barnum Smith.m4a Hi, Michelle Burnham-Smith here at BDSS Market Masters 2, and I'm here with my tip about TikTok Shop and how you can get 15-second conversions, the three keys to maximize sales on TikTok Shop. So let's dive into it. So I want to show you this graph, and I want to ask you a question. What is the most interesting thing about it? To me, when I look at this, the most interesting thing is this moment. What happened and what changed to create this bump and its subsequent success? So when I first looked at this seller's account, they appear to be doing everything right, and maybe you can relate to this. When you're first getting started on TikTok Shop, you feel like you're doing all the things, right? They had TikTokable products. They were reaching out to thousands of creators weekly. They were giving out 200 samples. So what was missing from the equation? Optimized offers. So let's talk about what drives 15-second conversions, and what do I mean by that? So we have to remember that TikTok Shop is a discovery platform. Nobody opens TikTok Shop with the intent to buy that day. They're there to be entertained, to connect, to be educated on something. They're there for community. They're not there with the same, they're not there opening with the intent to buy something like they do with the Amazon. Right? So as they're scrolling, they are taking in all of this content, and we are interrupting them with product offers. We're educating them and introducing these opportunities. And then we want to get them to buy and to go through this extremely quick, frictionless process and to get back to their scrolling, right? That's the whole point and the opportunity of TikTok Shop. And in this example, this was me just doom-scrolling one day. And I saw this. A Lavalier mic, and the girl was demonstrating it. She did a really great job demonstrating it. I was like, sold, let's do this. And I just was like, okay, let's time this and see how long it really takes to go from discovery to checkout and back to scrolling. And it was 15 seconds and all in all. And that's the beauty of TikTok Shop is that frictionless shopping experience. And we want to replicate that over and over for our own brands, right? So let me ask you a question. Would you drive traffic to an unoptimized Amazon listing? Of course not, right? So often when we're getting set up on TikTok Shop, we rush that process and we skip around and start kind of like frenzying in our approach to TikTok Shop. We start driving traffic before our listing is ready for that traffic. It's not primed for conversion, right? And what that results in is a whole lot of wasted product samples, wasted ad spend, wasted time and money, right? We don't want that. Okay. So these are the three keys to conversion optimization. The first key is free shipping, right? We know that 62% of shoppers are unwilling to buy without it. In fact, earlier this week, TikTok sent out another reminder to have free shipping offers on their, um, on your listings saying that this number is now even higher is 80%. So thanks Amazon. You've done this to all of us. But now if we don't have a free shipping offer, we're going to have to buy without it. If we don't have some form of free shipping offer, like we can see here showing up in both, as well as on listing itself, we're going to lose that. And on TikTok Shop, free shipping increases conversion rates by over 16%. So, and it enhances product visibility and sales. So visibility, meaning how your listings look to somebody who is doing the scrolling, showing up on your, um, on your listings themselves, as well as in search results. Okay. So free shipping is the first key. We have to have that foundational offer in place. Okay. So the second key to conversions are product discounts and flash deals. So product discounts and flash deals create scarcity, motivate action. They create enhanced visibility for the listing, just like on Amazon. When you're, when you have strike-through pricing or you're doing a lightning deal or the deal of the day, um, those types of things create that sense of urgency. So we can see here in search results. How, um, that enhances the visibility. We show up more and then on the product detail page itself, obviously this stands out a lot more as well as having kind of a countdown effect too. So once this gets to the day of the launch, it turns into an actual countdown timer, where that even enhances even more of that feeling of scarcity, as there's a countdown associated with that as well. And here we can see any kind of strike through pricing, um, highlighted here too. Okay. The third key. Okay. Okay. So product discounts and promotions. So what these allow for is to, is increasing our total order value give you something that's rare and giving us the opportunity to offer, um, bigger discounts and layering with promotions. So these types coupon just like on Amazon layer with your retail price. So if we're in a flash deal, then a coupon is going to layer on top of that. Okay. So how this shows up then is on the product detail page itself. You can see right here, we have a coupon that's additional and if I was showing you the product detail page or product search results there would be coupons showing up on those search results too, but here is where kind of the magic happens just like on Amazon-if a seller, if a customer does not click the coupon button, if they don't claim that, then they don't get the discount right; so it still requires buyer action to get the discount. So you can benefit from the additional visibility and the additional conversions even if the customer doesn't benefit from the coupon itself, of course we want them to, but that's kind of the same nature as it is on Amazon. Alright, the ultimate is when we combine all three for the ultimate conversion potential; when we have the free shipping offer down here at the bottom, we have the flash deal driving that scarcity, that motivation to to buy now, and we have the coupon or the promo code sweetening the deal and helping buyers know that they're getting the best possible deal. Now, I can hear you, I can hear you through the camera saying to me, but Michelle, what about my profits? What about my margins? And this is where I come back to you and I say, well, build the profit into the pricing itself. I think sometimes we get so attached to the retail pricing that we have in other marketplaces or somewhere else online and we forget like, oh, we can set our own retail price on TikTok Shop, and usually we want it a lot higher so that we can build these things into it. So for example, you need to compute your retail price by including both the three keys of conversion as well as these additional items into your pricing plan. So your TikTok Shop referral fees, whatever those might be at the moment, your fulfillment or shipping costs, your product discounts or flash deals, your coupon, any affiliate commissions, your advertising costs, and then your retail, and just remember that your retail pricing is fluid. So if your retail value needs to be higher so you can accommodate these, then that is what you do. And also for those of you concerned, no, Amazon cannot see or track your TikTok Shop price. So if you're worried about that, you're all good there. So like I said, when sellers are first kind of getting started on the platform, it can be a little bit of a frenzy in knowing where to start and what to do. And I really focus on trying to get people to know how to get started. So I'm trying to work to unlock this and provide you a step-by-step plan on how to get started on TikTok Shop, as well as how to grow if you've already gotten started on the platform with my five-step framework. And I have a special offer from my BDSS friends today. You can use BDSS code at checkout to get 50% off my full course. So you just go here or you can scan our QR code as well.