With 26 million active users in Malaysia, TikTok Shop has quickly become a go-to platform for online shopping. More businesses are also starting to  leverage TikTok’s content-driven approach to connect with customers and increase sales. Recognising this trend, Maybank and TikTok Shop have partnered to help small and medium-sized businesses (SMEs), with a pilot phase beginning in Malaysia.

There are three key activities; a webinar, workshop, and an accelerator programme that provides sellers with six months of dedicated mentoring and coaching. Small business owners who participate will get a clear and guided approach in learning how to succeed in e-commerce. Here’s how this initiative can help you succeed.

Why This Collaboration Matters for SMEs

1. Mastering Content-Driven Selling

One of the biggest challenges SMEs usually face is reaching potential customers without spending a lot on advertising. However, unlike traditional e-commerce platforms, TikTok’s algorithm promotes content based on engagement and relevance, not just advertising budgets, which means you also have the same opportunity as big brands to reach a large audience.

Even if you’re a new TikTok seller and don’t have a massive following, you also have a chance to go viral on this platform. The key to success is to use:

• Quick, eye-catching content because the first few seconds matter so think of how you can grab potential buyer’s attention early.

• Storytelling instead of hard selling or just listing products where you can tell a story and show how your product solves a real problem.

• Popular sounds, trends, challenges, and hashtags to increase visibility and help videos appear on more users’ For You Pages (FYP).

• User-generated content (UGC) as people will relate more to real, unpolished content rather than perfectly staged ads.

• Live sessions to demonstrate your products in real time, answer questions, and boost sales.

With the right approach and support from the collaboration, you can now make the most from the platform.

2. Embracing Digitalisation for Business Growth

The online business landscape is constantly evolving and what worked for you before may no longer be effective now. To remain competitive, you need to adapt to new trends, technologies, and consumer behaviour.

Many small sellers struggle with different aspects of digitalisation like setting up online stores, navigating digital marketing, or managing orders efficiently. By using digital tools, you can

• Stay updated on industry trends by understanding platform algorithms, policies, and customer preferences.

• Reach a larger audience with TikTok’s content-driven approach, which allows for more interactive and engaging product promotions.

• Improve operational efficiency through automation tools for inventory, orders, and financial management.

Instead of relying on manual processes, you can automate inventory tracking and order fulfillment to reduce errors and save time. Data analytics is also important as it helps you to understand customer preferences and adjust your marketing strategies accordingly.

Overall, digitalisation can help you future-proof your businesses to make it more adaptable and resilient. The Maybank x TikTok Shop programme supports this transition by providing you with education, mentorship, and practical tools to help you succeed in this fast-changing digital economy.

3. Ensuring Sustainability with Financial Management

Managing your finances effectively is just as important as setting up digital storefronts and providing engaging content. Your business can be generating revenue, but if your expenses aren’t tracked properly, profits can disappear quickly. To avoid this, you should always keep track of every transaction, set aside a portion for business expansion, and have extra funds in case of slow sales periods.

Access to funding is another game-changer for TikTok sellers looking to scale. Many small businesses struggle because they don’t have enough capital to buy inventory in bulk, invest in marketing, or upgrade their systems. Here’s what you can do:

• Business loans: Explore Maybank’s flexible funding options to invest in growth without putting too much strain on daily operations.

• Smart cash flow management: Use accounting tools to monitor income, expenses, and profit margins to ensure wise financial decisions.

• Optimising pricing strategies: Understand costs and profit margins so that you can price your product strategically to maximise store earnings.

Through this programme, you not only get financial support, but also important tips on profit optimisation to ensure you can scale your businesses successfully in the digital economy.
 

How BigSeller Complements This Initiative

The Maybank x TikTok Shop initiative will provide you with valuable skills and financial support to be a successful seller. However, as your business expands, you need to know how to manage multiple sales channels efficiently.

Using BigSeller, you can synchronise inventory across multiple marketplace platforms to ensure accurate stock level and prevent overselling. It also automates product listings and order processing which reduce manual workload and allow you to focus on growth. Apart from that, you can use its data driven insights to analyse sales performance, track trends, and optimise profitability. By integrating BigSeller with an accounting software, you can also quickly generate sales and purchase invoices as well as track financial statistics.

If you’re looking to grow your TikTok Shop, now is the time to take advantage of this collaboration and explore BigSeller, Southeast Asia's #1 omnichannel e-commerce software to optimise your e-commerce journey.

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