TikTok Shop is rolling out a suite of new tools and initiatives aimed at empowering sellers and advertisers on its platform. These updates include AI-driven advertising solutions, new seller support programs, and enhanced shopping features designed to boost sales and streamline the e-commerce experience for businesses of all sizes.
Key Takeaways
- GMV Max: An AI-powered tool to automate and optimise advertising campaigns, reducing setup time and aiming to maximise Gross Merchandise Value (GMV).
- ‘£1 Million Club’: An initiative offering new sellers incentives like zero-commission sales, free storage, and priority support to help them achieve significant revenue growth.
- Visual Search: A feature allowing users to find products by uploading or taking photos, enhancing product discovery.
- Expanded Ad Placements: Shop Ads are now available in a dedicated TikTok Shop tab on the main feed, targeting users already interested in shopping.
- New Creative Formats: Introduction of Carousel and Product Tiles ads to improve campaign performance and user engagement.
Automating Advertising with GMV Max
TikTok Shop has launched GMV Max in the UK, an AI-powered campaign management solution designed to maximise Gross Merchandise Value (GMV) for brands and small businesses. This tool automates crucial aspects of campaign creation, including audience targeting, bidding, and creative selection, significantly reducing the time spent on managing performance ads. GMV Max identifies and scales high-performing assets, freeing up sellers to focus on profitability and business growth. Unlike other solutions focused on Return on Ad Spend (ROAS), GMV Max aims to improve overall business bottom lines by allowing sellers to set specific ROI targets aligned with their growth strategies. In the US, sellers using GMV Max have reported an average 30% increase in GMV.
Supporting Seller Growth with the '£1 Million Club'
The ‘£1 Million Club’ initiative is designed to help new businesses thrive on TikTok Shop by offering a package of incentives and support at no extra cost. New sellers onboarded between June 23 and September 30 can benefit from up to 90 days of 0% commission-free sales, free storage, priority seller support, and training. TikTok will also provide free fulfilment through ‘Fulfilled by TikTok’ to optimise inventory management and logistics, alongside marketing support using platform insights to reach target consumers effectively. This program aims to help UK businesses grow rapidly by putting their products in front of new audiences.
Enhancing Product Discovery and Shopping Experience
TikTok is continuously refining its e-commerce features to improve product discovery and purchasing convenience. A new visual search tool, available in the US and Southeast Asia, allows users to find products by taking or uploading a photo, making it easier to locate similar items on TikTok Shop. Furthermore, Shop Ads are being expanded to appear within a dedicated TikTok Shop tab on the main feed, targeting users who are already in a shopping mindset. The platform has also introduced new creative ad formats like Carousel and Product Tiles, which have shown significant improvements in click-through rates and ROAS compared to standard ad formats. These updates aim to make shopping directly within the TikTok app more convenient and secure for users.
Sources
- TikTok Shop UK introduces new gamechanging tool ‘GMV Max’ to automate advertising campaigns for sellers –
Newsroom, TikTok Newsroom. - TikTok Shop launches ‘£1 Million Club’ to grow brands on platform, FashionUnited UK.
- TikTok Has Introduced a Image Search Feature to TikTok Shop, Inc.com.
- TikTok Updates eCommerce Features Despite U.S. Ban Concerns, DesignRush.
- TikTok tests a feature that would bring TikTok Shop links to more videos, TechCrunch.
