Simple Steps to Skyrocket Sales with TikTok + Sweet Opportunities
There are over 37 million Nigerians who are active on TikTok, with good strategies, you can convert a tiny fraction of this people to your customers.
Hello!
How are you doing today?
I know you expected this newsletter to drop yesterday (Friday), but remember last week I said we are trying Saturdays to observe which day works better for you.
In today’s edition, we will be talking about:
Key updates on Nigeria’s business and tech
SME opportunities, and
Leverage TikTok Ads to drive traffic to your online store or website.
Let’s explore the latest insights to help you grow your business.
News Flash:
Naira Cards Enable International Payments: No more virtual cards and expensive charges!
It has been confirmed that UBA, GTB, Wema Bank, and other Banks have reinstated international transactions for naira debit cards, following improved foreign exchange stability.
UBA Moni Agency Banking Launched: UBA’s new UBA Moni initiative introduces PoS terminals for efficient, secure transactions.
This simplifies payments for customers without immediate access to banking services.
CAC embraces AI for Business Registration:
You may not need to hire an agent to do your business registration for you; the AI features on CAC’s portal are promised to make registration faster and smarter.
How to Drive Traffic to Your Store with TikTok Ads
TikTok, with over 37 million Nigerian users, is a powerful platform for driving traffic to your e-commerce store due to its engaged audience and viral potential.
Below is a step-by-step guide to effectively use TikTok Ads to increase your store’s visibility and sales.
Step-by-Step Guide to TikTok Ads
Set Up a TikTok Business or Use a Personal Account: Download the TikTok app and create an account using a business email. Navigate to “Settings and Privacy,” select “Manage Account,” and switch to a “Business Account” to access advertising tools and analytics.
PS: You will need to submit your business registration document, OR you can otherwise use your personal account.
(Skip 2-4 if you will be using a personal TikTok account)Create a TikTok Ads Manager Account: Visit ads.tiktok.com and sign up with your business details (e.g., brand name, industry, country). Verify your email to access the Ads Manager dashboard, where you’ll manage campaigns.
Define Your Campaign Objective: In TikTok Ads Manager, click “Campaign” > “Create.” Select “Traffic” as your objective to drive users to your store. Set a daily budget (minimum ₦1,000) to control costs.
For optimal results, allocate at least ₦5,000 over a week to gather performance data.Target Your Audience: Use TikTok’s targeting options to focus on Nigerian users.
Create Engaging Ad Content: Shoot a 15–30-second vertical video (9:16 ratio, 720p or higher) showcasing your products, such as behind-the-scenes of packaging your orders, etc.
Use trending Nigerian audio (e.g., popular Afrobeat tracks) and hashtags (#shoponline, #perfumevendor).
Choose a clear call-to-action (CTA), such as “Click link below to buy now!” overlaid as text.Add a Link to Your Store: In the ad setup, input your website landing page or a specific product’s URL as the landing page. Ensure your store is mobile-optimized, as most TikTok users shop via smartphones.
To reduce friction, avoid directly sending people to your DM; create a store within a few minutes on Vendda. (Click here to get started)Launch and Monitor Your Campaign: Submit your ad for TikTok’s review (typically 24–48 hours). Once approved, track performance via TikTok Ads Manager’s dashboard, focusing on metrics like click-through rate (CTR), impressions, and conversions.
PS: For a personal account, simply upload your content and promote it; it doesn't have an advanced setup like a business account.
Best Practices
Consistency: Post ads regularly (2–3 times weekly) to maintain visibility.
Engagement: Respond to comments on your ads to build community and trust.
Analytics: Use Vendda’s analytics to track conversions and refine campaigns.
Localization: Incorporate Nigerian cultural elements, such as local slang or market scenes, to resonate with your audience.
Vendda Integration
Link ads directly to your Vendda store’s product pages. Features like flash sales (creating a coupon code on Vendda to run discount sales) and secure payment checkout can enhance conversions.
Opportunities for Small Business Owners
SMEDAN Asset Grant: The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) offers grants for women, youth, and persons with disabilities to acquire equipment or enhance technology. Applications close August 15 via SMEDAN’s website.
Tony Elumelu Foundation Grants: The Tony Elumelu Foundation (TEF) provides up to $5,000 for African entrepreneurs. Eligible businesses can apply by August 31 at TEF’s portal.
BOI Youth Entrepreneurship Support (YES): The Bank of Industry’s YES program offers loans, grants for top projects, and mentorship for entrepreneurs aged 18–35. Apply through BOI’s portal.
MTN Yellopreneur: This program supports female entrepreneurs with grants and training. Check eligibility and apply at MTN’s Yellopreneur page. Funds can enhance your Vendda store’s marketing efforts.
Mastercard Foundation Agribusiness Fund: Targeting agriculture and digital innovation, this fund offers $500,000–$2,500,000 for SMEs. Apply via Mastercard Foundation’s site.
Actionable Tip for the Week…
Create a catchy video, upload it to TikTok, and use N900 to promote it.
Don’t direct people anywhere, choose “video view” or “more followers”, watch how the TikTok ads will perform, and experiment with another video before promoting a product.
Thank you for being part of our Substack community.
Vendda.co remains your trusted platform for building and scaling your online store.
Till next week’s edition, stay focused and keep growing!