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Published September 22, 2022
A look at issues facing Wyoming business owners and entrepreneurs from the Wyoming Small Business Development Center (SBDC) Network, a collection of business assistance programs at the University of Wyoming.
By Kayley Harrison, market researcher, Wyoming SBDC Network
I’ve performed in many marketing roles and, by far, the most difficult is social media management. Platforms change, and trends come and go. In the Wyoming SBDC Network Market Research Center, we often say the only constant is change, and one change I’ve noticed recently is more entrepreneurs and business owners asking about TikTok. Specifically, I’ve heard many ask the question, “Is TikTok right for my business?”
It’s easy to answer “yes.” You could probably create an account in the time it takes to read this. However, TikTok isn’t a good fit for all businesses. It may not fit into your current social media strategy, and you may be wasting valuable time creating videos and finding the most popular sounds. I’ve proposed a few questions to help you determine if TikTok is right for your business. It’s up to you whether you download TikTok or not, but this question framework should help guide your decision:
Do I have time to manage another social media account?
Think of your typical day. Do you have time to manage your current social media account(s)? How about enough time to manage another? I often see business owners overextend themselves. Running a business is a job and a half. Sometimes, your daily and weekly schedules don’t leave any time for writing captions, filming videos or snapping pictures. If your to-do list is already overflowing, it may not be the best time to add TikTok to the list. Instead, I recommend focusing on your current social media pages by attempting to post at least two to three times each week.
Does TikTok match my target audience?
If young women are your average customers, TikTok may be a good platform to reach more of them. Women represent a higher percentage of users at 57 percent of the total user base when compared to men, according to Hootsuite. Gen Z also encompasses the majority of the user base, while those over 55 years old are the least likely to join TikTok, according to Wallaroo. In short, TikTok can be a great platform for businesses to reach a younger female audience. The TikTok demographics may not match your ideal customer, and that’s OK. It’s better to pass on TikTok than to waste time building a page that doesn’t add value to your business.
Do I want to learn how to create engaging content?
TikTok has many editing features you can access in the app. You can film a video, add captions and post it right on TikTok. This makes creating content easier since you don’t need to download additional editing apps or software. However, I think the hardest part is learning and keeping up with the latest trends. A sound may be trending for a few days before falling out of popularity and use. You should be aware of the latest trends in transitions, sounds and video style. Staying current on trends requires continuous education and extra time, but the time and learning will pay off in better videos and higher views.
Need more help on social media? The Wyoming SBDC Network can help you create a social media marketing plan and develop your social media skills. The Market Research Center also can provide a social media analysis for businesses. Through the social media analysis, the Wyoming SBDC Network reviews social media pages to see what a business’s strengths are and where improvements can be made. Reach out to your regional adviser today to get connected with resources and no-cost advising on social media topics.
The Wyoming SBDC Network offers no-cost advising and technical assistance to help Wyoming entrepreneurs think about, launch, grow, reinvent or exit their business. In 2020 alone, the Wyoming SBDC Network helped Wyoming entrepreneurs start 95 new businesses; support 6,954 jobs; and bring a capital impact of $18 million to the state. The Wyoming SBDC Network is hosted by UW with state funds from the Wyoming Business Council and funded, in part, through a cooperative agreement with the U.S. Small Business Administration.
To ask a question, call 1-800-348-5194, email firstname.lastname@example.org, or write Dept. 3922, 1000 E. University Ave., Laramie, WY 82071-3922.