TikTok is a video-sharing social media platform. TikTok was released in September 2016 by the Chinese tech giant ByteDance and has since then gained popularity. Just like other social media platforms like Instagram and Facebook, you can make money on TikTok. If you are a social media influencer or you are thinking of venturing into this business, consider venturing into TikTok also. In this article, we are going to discuss how to make money from TikTok.
1. Join TikTok Creator Fund
You can make money from TikTok by joining the TikTok Creator Fund. TikTok creator fund is an initiative that rewards content creators for creative and engaging videos. Members of the TikTok creator fund get to access the following TikTok features:
- Live Gifts. Creators can receive gifts from their followers and fans. You can redeem these gifts for money.
- TikTok Creator Marketplace. This is a platform where members of the TikTok Creator Fund can connect with brands, create content together and make money out of it.
- Tips. This is a feature that allows members to get tips from their followers and fans on how they can support them financially.
- Video Gifts. This is a feature that allows members to make money from their short videos. Members can exchange these video gifts for cash.
How TikTok Creator Fund Works
TikTok Creator Fund pays users for the content they are creating. Earnings are calculated based on the number of views, authenticity of the views, and the level of engagement those views have.
Read also: Social media marketing trends.
TikTok Creator Fund Eligibility
To be eligible for TikTok Creator Fund, you must meet the following requirements:
- Be at least 18 years old
- Have at least 10,000 followers
- Have a minimum of 100,000 video views in the last 30 days
- Be based in the US, UK, Germany, France, Spain, or Italy
2. Create Sponsored Content
You can also make money on TikTok through sponsored content. You can partner with brands to promote their products and services online. You just need to create sponsored content and then post it on TikTok. A company or a brand can send you a free product and request you to mention it or make a video while using the product and post it on TikTok. You can pitch to companies and request if you can partner with them. You can get into a contract or get a fixed payment or get a free product or service.
3. Sell Your Own Products
You can also make money from TikTok by selling Merchandise. You can make money from your popularity and start selling products and services on the platform. For instance, you can sell your artistic work like music, drawings, and branded T-shirts through TikTok. You can make it with your artistic work and then promote it on TikTok.
4. Influencer Marketing
TikTok is the new trends in digital marketing strategy and it has become very popular for influencer marketing. Companies and brands hire influencers to promote their videos with the hope to generate more sales. Many advertisers are now preferring to use TikTok influencers due to its huge popularity. Therefore, if you are a social media influencer, consider having a presence on TikTok. Then grow your followers organically and once you have a large following, brands will start reaching out to you.
5. Build TikTok Accounts and then Flip Them
You can also make money by building TikTok accounts, organically gaining followers, and then flipping the accounts. There are many people who would love to be on TikTok, but they don’t know how to go about it. you need to develop niche TikTok accounts and sell the account to brands in the same niche. It is because the buyer of the TikTok account needs to continue posting videos in the same niche. You need to educate your buyers on how to further engage the followers so that they don’t end up losing these followers.
6. Get Donations
TikTok has a feature that allows members to collect gifts from their followers during live streams. You can then exchange these donations or gifts for cash. This TikTok feature allows TikTokers to receive coins from followers. TikTokers can then convert these coins into gifts and then diamonds. The TikToker can then convert diamonds into cash using PayPal.
Read also: Best freelance payment gateways.
7. TikTok Consultancy
TikTok is a tough social media platform to master. Many people have challenges with how to use TikTok. You can make money from TikTok by showing people how to use the platform. TikTok consultants help brands build their presence on the platform and organically grow followers. You also need to show people how they can get thousands of views on TikTok and how to use various features of TikTok. If you are good at TikTok, you can help others build a presence on the platform at a fee.
Tips On How to Make Money on TikTok
To start making money on TikTok is not a walk in the park. It requires time, effort, and strategy. Follow these tips and you can get lots of TikTok followers organically and start making money.
1. Identify your Niche
To start making money in TikTok, the first thing you need to do is to identify your niche. Do not be a general niche TikToker. Provide content in a particular niche and you will build a brand around it. identify a niche in which you can offer quality and engaging content. Consider your skills, hobbies, and interests when deciding on your niche.
2. Be Authentic
Be yourself and don’t try to imitate what successful TikTokers do. If you are promoting products, offer quality and genuine information. Only promote products you have used and have a personal experience with. Do not oversell a product. Demonstrate their upsides and downsides. You can lose followers when you oversell a product and people buy the product and fail to find value for their money.
3. Have Fun
Most successful TikTokers started TikTok for fun. When you create interesting content that makes people laugh, you will get followers. Do not start TikTok with a primary motive of making money. Otherwise, you will fail. But let your primary motive be to educate or entertain your followers. Money will come later as a reward.
How Much Does TikTok Pay per 1 000 Views?
The amount that TikTok pays content creators depends on a number of factors like the type of content. TikTok does not disclose the formula it uses to pay content creators. There have been lots of complaints about the company’s lack of transparency. This promoted the company to disclose that it pays content creators between four and six cents for every thousand views.
Read also: How to make money online.
How Much Do TikTokers Get Paid?
Making significant income on TikTok can be challenging. You need lots of followers and many views to make a significant income on TikTok. Members who qualify for TikTok Creator Fund and have at least $100,000 followers can make between $200 and $1,000 a month. Some of the highest YouTube earners like Jimmy Donaldson and Ryan Kaji earn over $20 million.
How Does TikTok Make Money?
Now that you know how content creators can make from TikTok, you might be wondering how TikTok makes money. TikTok makes money through advertising, in-app purchases, and eCommerce offerings. Some of the ways TikTok makes money through advertising include top view ads, branded takeover ads, and in-feed ads. On the hand, TikTok makes money from in-app purchases when customers buy virtual in-app coins. TikTok also runs affiliate campaigns that generate money for the platform.
Summary of How to Make Money on TikTok
Before you can start monetizing your TikTok account, you need to create interesting videos to get many followers. Ensure that the content is engaging to attract many views. Make sure you meet TikTok Creator Fund eligibility and then monetize your account. The above are some of the best ways to make money on TikTok. Also, TikTok looks more promising compared to other social media platforms like Facebook and Instagram.