TikTok virality can boost your business, but only if you are prepared to succeed

As workplace demographics change, the way that businesses grow is changing too.

Gen Z are bringing their love of and experience with TikTok into the workplace, causing more businesses to go viral on the platform than ever before.

However, many businesses seem surprised by the success they achieve, so knowing how to make the most of your moment in the spotlight is vital.

Is going viral on TikTok good or bad for business?

Modesty is a good trait to have but, when posting content online, you should be prepared for it to go viral.

Historically, businesses have placed traditional adverts on social media platforms in the hopes that they would work the same as on TV.

Platforms like TikTok label adverts and separate them from the main viewing experience, causing many users to swipe past them in irritation to get to the next video.

To counter this, businesses are now producing content that fits the style of video enjoyed on the platform and can blend in with everything else on a user’s ‘For You’ page.

TikTok users are treated to classic soap opera scenes reenacted in a pub, viral dances being performed by shop workers and charities using irreverent humour to spread powerful messages.

Driven by its own algorithm, TikTok is known for showing content to users outside of their standard interests or local area, meaning that businesses may find themselves broadcasting to people at the other end of the country.

Where a business has an online presence, viral videos can have a significant impact on revenue.

Recent research by money.co.uk, looking at the experiences of 500 business owners, found that 67 per cent of small retail business owners experienced a surge in orders after a TikTok video went viral.

Businesses more reliant on footfall can also benefit from a boost in brand awareness gained from TikTok virality, even if they cannot quantify the impact as neatly as those with online stores.

Boosting revenue should be a positive thing for a business, yet it was found that 42 per cent of businesses ran out of stock following a viral video and 27 per cent faced staffing problems and cash flow disruption trying to keep pace with heightened demand.

Fulfilling orders proved a near-universal problem, with 91 per cent struggling to do so in the sudden surge of business.

The foil to this is the devastating impact on revenue a poorly handled social media campaign can have should a business go viral for the wrong reasons.

Are accountants important when a business goes viral on TikTok?

More customers and more revenue bring with them challenges as well as triumphs, but both need to be handled efficiently.

In order to cope with the strain of success, 52 per cent of businesses turned to credit cards and 30 per cent to loans and external finances.

Adapting to cash flow variations by using credit cards and external finances is not inherently problematic, but should be approached with caution.

Expert accounting help can make the difference in your business achieving temporary success and building long-term growth.

If your business is planning to become a TikTok influencer, or embark on any other marketing campaign, it is wise to seek accounting advice first.

Financial forecasting reveals not only the current economic realities of your business but also plans for possible successes and failures.

Rather than letting staffing issues, cash flow strains or stock management dim the light on your achievements, knowing the impact these will have ahead of time lets you create dynamic plans.

This is not an invitation to hire legions of people or fill out warehouses with stock the second you first upload a video, but it is worth considering whether your business will be ready for a sudden upturn or downturn in revenue.

Seeing that you are exploring new options to make your business a success is excellent and our expert team are here to support you with this.

Rather than letting your viral video be a moment of fleeting joy, we can help you invest added revenue back into the business to create sustainable long-term growth.

Sudden changes in revenue can also carry your business across different tax and regulatory thresholds, so we will draw your attention to these where necessary and help you stay compliant.

For full support in making the most of sudden success, speak to our team.