TikTok is one of the world’s leading social media platforms, with 850 million monthly active users. Over the past few years, the app has taken the world by storm. Since TikTok was launched in 2016, it has been downloaded more than 1.5 billion times from the google app store. More and more people are using this platform to showcase their talents and promote their brands and services.
But still, lots of people are wondering if this platform can help them make money. The answer is yes! Marketers only need to click here and take a look at the TikTok statistics from the last few years to see the meteoric rise of the TikTok social media platform. TikTok is now an important and effective marketing tool across all industries.
Similar to other social networks like Facebook, Instagram, and YouTube, you can make money on TikTok. There are several strategies on TikTok you can use to make money on the platform or you can take help from any TikTok ads agency which can create and manage your TikTok Ads.
If you are wondering how to make money on TikTok, then you need to read this article thoroughly.
Let’s get started.
Tip 1. Become A TikTok Influencer
Become A TikTok InfluencerLike other social media networks, one of the best ways to make money on TikTok is by becoming an influencer. But it is not a very easy task to become an influencer; definitely, you will need to put in more effort. According to a Forbes report, the top trending TikTok account earned more than millions of dollars last year. Now you need to have more followers before becoming an influencer. Typically TikTok stipulates that you need a minimum of 10,000 followers and around 100,000 video views over the last 30 days in order to get monetisation. This kind of follower count would typically grant you “influencer” status. Whilst you do have the option to buy active TikTok followers in order to get started, you can also choose to grow your account organically, however, this can take time and does require a lot of commitment, and dedication.
Most influencers have more than 50K followers, but they have less user engagement. But influencers with 20K followers have a more engaged audience. Most of the brand looks at user engagement while choosing influencers for collaboration. Similarly, many brands prefer to work with micro-influencers. These influencers have around 10K to 20K engaged followers. Influencers with millions of followers can help you to reach more people, but they are very expensive.
Are you trying to become an influencer?. There are a few steps you need to follow to become an influencer.
#1. Use A TikTok Pro Account
TikTok provides the option of a pro account for both business and content creators. If you are a brand, then choose a TikTok pro account to find and reach your target audience on the platform. Whether you are a brand or creator, always set up a public account to expand your reach.
#2. Create A Catchy Profile
Your bio should make a good impression on a new user to your TikTok account. While setting up your profile, you need to concentrate on two main areas: your profile picture and bio. Creating a compelling bio helps a user understand who you are and what type of content they can expect. Choosing an attractive profile picture makes the user remember your profile.
#3. Create Amazing Content
The next easy step to become an influencer on TikTok is by creating amazing videos. In every social media platform, the quality video gets the most engagement. The entertaining videos with creative look helps you to get views on TikTok and gather new audiences. If you get tons of likes and views for your video, it will definitely go viral on TikTok. One single viral TikTok video has the potential to attract thousands of new followers to your profile.
#4. Be Consistent And Engage With Your Audience
You need to post regularly and consistently to increase your visibility on TikTok. Additionally, you need to publish high-quality videos to become an influencer. According to research, influencers should post 3 to 6 videos per day to boost their engagement. Also, interacting with your audience will help you to reach an influencer status.
To use strategies to become an influencer and start making money on TikTok.
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Tip 2: Growing Accounts And Selling Them
Another interesting way to make money on TikTok is by growing and selling TikTok profiles. This technique is very famous on Instagram, Ramy Halloun is an Instagram user, and he earned $30,000 annually by selling accounts. Similarly, TikTok is also a perfect platform to sell TikTok accounts.
To start growing an account, find a niche and post engaging content around it. Once an account has grown to a certain level with higher engagement and followers, you can approach brands related to your industry and sell the TikTok account to them.
Themed accounts types are one of the easiest accounts to sell. While personal accounts are hard to sell because the user does not wish to buy an account from a new owner. But with a themed account, you can easily find brands and sell your account.
Are you thinking about what is a themed account?. If you create an account around videos of fashion that you can easily sell to any business related to fashion. The key feature is to create quality content. The more followers and engagement rate your TikTok account has, the higher price you can sell your profile.
Tip 3: Collect Donations
The third way to make money on TikTok is by going live and collecting donations from your viewers. Additionally, it allows you to earn gifts and coins through live streams.
#1. Who can buy coins and gifts
Every user aged above 18 can buy coins and gifts to their TikTok profile. You can see the price of coins while purchasing. The price of coin quantities may vary. For $1.39, you can get 100 coins. Once you purchase coins, they will be credited to your TikTok account. Additionally, you can use those coins to buy gifts.
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#2. What can a user do with gifts?
Purchased gifts are used in live streams. TikTok can send a gift to their favorite creators to express their appreciation. You can easily send the gift by clicking the “Give Gift” option below the relevant user videos.
#3. What can creators do with these gifts?
The gift creator received from their fans and a favorite person can be converted into diamonds. The user can withdraw these diamonds as money. The cash you can directly withdraw by using PayPal.
Not all the users are eligible to participate in the live stream; only selected people can join. If you want to join in the live program, you need to do the following.
- Increase your follower’s count
- Regularly post quality content
- Improve your engagement rate likes, views, comments, and shares
Additionally, creators can add links on their live videos, and you can hold auctions and make people buy your products via live.
Tip 4: Publish Sponsored Post
Another exciting way to make money on TikTok is by posting sponsored posts. According to the research of business insiders, you can make money on TikTok for each sponsored post view. So if you have more than 100K views for your sponsored post, you can make 1000 dollars in sponsorship. After growing your followers, you can approach brands and offer your services.
You don’t need to have millions of followers to post sponsored posts. Analyze the brands who are interested in growing their TikTok presence and reach out for sponsorship. Additionally, you can approach influencers in your industry to sponsor brands.
Once you find a list of target sponsors, send them a mail with brief details about you. Here are the things you need to include in the mail.
- What you do
- Who you are
- Essential metrics like your engagement rate and followers count
- Explain what makes you an expert in your industry
- Share your achievements
- Tell success stories of your previous sponsorship campaigns.
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When you are starting sponsorship, it’s a good idea to partner with small brands. Often post sponsored posts to make more money on TikTok.
Tip 5: Manage Influencer Campaigns
You can easily make money on TikTok by managing influencers campaigns. Influencer agencies will serve as the middle person between the influencers and the brands looking for services. With this, you can help the brands to select the best influencer to work with. To run an influencer campaign, you should be able to do the following things.
- You must be able to develop a great relationship with the top TikTok influencers.
- Able to identify top-performing TikTok influencers with a great record
- You must have experience in running successful influencer marketing campaigns
- You are able to create influencer campaigns for various advertising categories.
Many brands probably approach influencer agencies for their brands because it helps them to save money. Run an influencer campaign to make more money on TikTok.
Conclusion
TikTok is the ever-growing social media platform in the digital world. There are plenty of opportunities for making money on TikTok. From sponsored posts to selling your accounts on the platform. But the main feature is to create quality content to engage with your potential audience to expand your reach on TikTok.
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