With a greater awareness of marketing strategies and a growing presence of Gen Z workers, more businesses are turning to TikTok to grow their brands.<\/p>\n
<\/p>\n
Going viral used to be a passing, lightning-in-a-bottle moment, but can now lead to meaningful growth for businesses.<\/p>\n
An upsurge in business sounds great, yet many businesses do not know how to prepare for sudden success.<\/p>\n
Most people who have spent time on TikTok will have been greeted by videos produced by and for businesses.<\/p>\n
Alongside the dedicated adverts that tend to be marked as such and promptly scrolled past by many users, business-generated content can integrate seamlessly alongside other videos on a user\u2019s \u2018For You\u2019 page.<\/p>\n
From baristas recreating scenes from movies to accountants showing off the latest trending dance moves, businesses are embracing the platform in a range of innovative ways.<\/p>\n
The often inscrutable nature of the TikTok algorithm pushes content beyond local areas, meaning that users in London can be treated to a video of a caf\u00e9 in Blackpool that they otherwise would never have heard of.<\/p>\n
For businesses with an online presence, the extra outreach can have a profound effect.<\/p>\n
Research from money.co.uk, in which 500 business owners were surveyed, found that 67 per cent of small retail business owners experienced a surge in orders after a video went viral<\/a> on the platform.<\/p>\n Even businesses that are purely offline in their service offerings likely benefit from increased brand awareness, with a potential for more footfall as a result of trending videos.<\/p>\n However, the same research found that 42 per cent ran out of stock<\/a> following a viral video and that 27 per cent faced staffing problems and cash flow disruption<\/a> trying to keep pace with heightened demand.<\/p>\n Nearly all the businesses that had achieved virality, 91 per cent<\/a>, admitted to struggling with fulfilling orders after the surge.<\/p>\n While being clever, insightful, witty or charming can lead to a boost in sales, many small businesses have seen revenue plummet following social media misfires.<\/p>\n The stress of success can be a turning point for many businesses and knowing how to handle it effectively is the key to long-term growth.<\/p>\n In response to sudden success, it was found that 52 per cent of businesses<\/a> turned to credit cards and 30 per cent<\/a> to loans and external finances to manage the added pressure.<\/p>\n While these can be effective solutions, they should not be embraced without a thorough understanding of a business\u2019s financial position.<\/p>\n Seeking expert accounting advice can help your business turn short-term success into long-term growth.<\/p>\n Before embarking on any new marketing strategy, whether it is on TikTok, other social media or more traditional avenues, it is worth reviewing your finances with an expert accountant.<\/p>\n Potential success can be forecast alongside current economic realities so that you can know how a sudden upturn or downturn would affect your business.<\/p>\n This is not the same as hiring more staff or filling a warehouse full of stock on the assumption that you will make a viral video and generate more traction.<\/p>\n Instead, it can show you ahead of time where difficulties may arise so that you can begin preparing for them should that become your reality.<\/p>\n In the current economic climate, we love to see businesses finding new and innovative ways of attracting new customers and boosting cash flow.<\/p>\n Our team are here to help you reap the benefits of your strategies so that success is the positive experience for you and your business that it should be.<\/p>\n Knowing how to invest increased revenue back into the business can also pave the way for more sustainable growth and brighter financial prospects.<\/p>\n Financial forecasting also helps with this, as it can brace your business for declines in revenue if the virality wears off.<\/p>\n We can also keep you aware of and compliant with any regulations or tax obligations that may change in the wake of significant upturns in revenue.<\/p>\n Get in touch with our team for help turning social media sensations into sustainable growth.<\/p>\n","protected":false},"excerpt":{"rendered":" With a greater awareness of marketing strategies and a growing presence of Gen Z workers, more businesses are turning to TikTok to grow their brands.<\/p>\n","protected":false},"author":2,"featured_media":6973,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38,24,125,30],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6970"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=6970"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6970\/revisions"}],"predecessor-version":[{"id":6971,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6970\/revisions\/6971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/6973"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=6970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=6970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=6970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}How can accounting help businesses make the most of viral success?<\/strong><\/h3>\n