How to make money on TikTok is getting more and more searches from the users. That is not surprising since TikTok has experienced such rapid growth and seems to cast a long shadow over all the other platforms.
In this post, we will go over some obvious. and less obvious tips on how you can make money on TikTok! Let’s get into it!
This works like on any other platform, where you can go live and get donations directly from the viewers. In that sense, the website is very similar to Twitch.
Most people like donations. Oftentimes, people ask how many followers you need on TikTok to make money. But, this is a completely wrong approach. Depending on your marketing method, you can make solid earnings with a small group of loyal fans behind you. Nevertheless, that doesn’t mean you shouldn’t strive to increase your follower base.
Donations are not as straightforward as on some other platforms. Instead, they are a bit hidden. When fans want to give you a donation, they don’t actually give you cash. They go to their profile and buy currency called coins.
After that, fans can give influencers coins which they can then turn into diamonds. These diamonds are then converted into cash through PayPal. So, it is a type of workaround that makes it cooler. It also makes it feel less intrusive.
As you can presume, the Chinese also have TikTok (they founded it…duh). Their version is called Douyin and has somewhat similar features. The Chinese version has the option that allows content creators to add a shopping cart and sell products. When influencers go live, they are able to auction these products and sell them to the highest bidder.
Douyin shopping cart is interesting as it allows content creators to sell their personal belongings. This is the next-level approach that will sooner than later also come to the western version of the platform.
Create Influencer Campaigns
Influencer campaigns (also referred to as Shoutouts) are possible on almost any platform. They are especially popular on Instagram, Facebook, YouTube, but you can practically use any social network for this activity.
TikTok has made a major impact with its influencer campaigns. Due to the platform’s short-form, you have to be very creative. Sometimes, you need to make a series of posts that will manage to hold viewers’ attention for a prolonged period of time. But, if you know how to do this well, your stock will quickly rise.
If you grow big enough, companies will slowly start pitching you. Of course, the bigger the influencer, the more and better the offers. Content creators who don’t have a constant stream of visitors are much less successful with these campaigns. There are lots of situations where companies will try to lowball smaller creators or offer them bad affiliate deals.
Anyway, bigger influencers have some leeway when negotiating these deals. They can go with a fixed price, or they can take a percentage of the profits.
An amazing thing about TikTok is that they have an internal influencer program. That makes it much easier for content creators and brands alike as it streamlines the whole process.
Use TikTok Ads
Can you make money on TikTok as a company? The answer is a resounding yes!
For this method, you don’t even need to have an account. But, you will have to invest some money into an ad campaign.
The platform allows brands and other users to post their own ads and start generating revenues. In that sense, TikTok is very similar to Facebook, YouTube, and other social websites that allow paid promotion.
In the last year or so, as TikTok grew in popularity, we saw a lot of brands transfer to this social network. Simply put, this is a young, hip website that is especially good for generations with a short attention span. As such, it is suitable for certain types of products.
In order to post an ad on TikTok, you will have to meet the platform’s technological specifications. For example, your video should be in a certain format and of a certain size. There are also rules as to how you can show the brand name and use emojis.
As a way of helping ad creators achieve better success, the company has provided a few guidelines:
- It is very important to have memorable music in the background.
- Avoid posting videos that are in low resolution. Follow the platforms’ suggestions regarding the optimal video size.
- Every ad should be localized. If it’s not, you will not achieve good results when focusing on a specific territory.
- Create ads according to your audience and consider the overall demographics of TikTok users.
Build and Sell Accounts
How do you get paid on TikTok without investing yourself full time? Well, a good way to go about things is to create an account, grow it a bit, and sell it for a profit.
Like with other social platforms, there will always be a lot of brands and wannabe influencers who are willing to buy already successful TikTok accounts. Interestingly enough, regular TikTok influencers are unlikely to grow accounts just to sell them. This is something that marketers usually do.
eCommerce brands are usually willing to buy the boosted accounts. Instead of spending lots of time optimizing their platform and slowly building it, a brand will simply buy a finished product. However, they will not buy just anything. They will focus on accounts that created content relevant to their industry.
Once a brand buys a personal account, it is fairly easy to make profits by selling its products and services. Oftentimes, this sale can be a win-win for both sides. It can be great for a marketer who doesn’t want to invest more time into an account. This is even better for brands as they can recuperate the costs rather quickly.
Unfortunately, this method also has potential pitfalls. As there is usually a real person behind an account, most followers will connect with him or her. So, by changing that person, you might alienate a part of the audience.
One of the ways customers can mitigate this is by hiring the marketer who grew the channel in the first place. They can use him or her to continue promoting their products and services. Alternatively, they can give it a shot with their own social media manager.
Providing Various Services
If you ever wondered how do you make money on TikTok without an account, keep in mind that you can work as an assistant.
Simply put, some of the influencers on this platform have millions of followers. At one point, they might hire content creators, editors, and managers that would help their growing follower base. The job can become so arduous that some of the influencers might transition into other professions.
Regardless of the service you apply for, you need to have some basic understanding of the platform. Of course, the more you know, the better you will be able to sell your services. Oftentimes, service providers are smaller account owners who find it more profitable to work as managers.
As a TikTok marketing manager, you might have to do various things for the influencer. For example, you can help them by creating a long-term content strategy or finding the best brands to partner with. If you have enough knowledge of editing, you can also help with this part of the business.
Access TikTok Creator Fund
People often ask themselves does TikTok pay influencers. They might also wonder how many followers you need on TikTok to get paid.
Most of the previously mentioned strategies are not necessarily connected to the number of followers. You can do some of them as a small content creator. However, there is one revenue stream that is connected to the number of fans you have. I am, of course, talking about the TikTok Creator Fund.
This feature is only available to account owners who have more than 100,000 followers. It was recently added as a way of further incentivizing large creators. Based on this system, the more followers and views you have, the more you will get paid.
According to the company statement, they did this so that the creators can always have stable profits. The funds are calculated based on several factors. As you can presume, the most important one is the number of views. But, the platform also calculates the engagement level.
Keep in mind that not everyone will be able to access the TikTok Creator Fund, even if they’re eligible. The company decides who gets the money. You need to show that you’re a valuable member of the community and that your content is according to the guidelines.
Become an Affiliate Marketer
Do not have your own product? No problem. You can become an affiliate marketer and promote to your TikTok audience. I have a post about affiliate marketing, so check it out.
Sell Branded Merchandise
Branded merchandise is nothing new. You have this feature on several different platforms.
Going with branded products can be a bit tricky. Needless to say, you need to have enough followers to even get it started. Luckily, it is relatively cheap to jumpstart such an enterprise.
In order to create your product line, you will need to make an initial investment. You will need a website, the initial design, and several other things. A great thing about branded merchandise is that you can promote these items on other platforms as well.
Alternatively, you can make things a lot easier by using a print-on-demand platform like Teespring.
Offer Consulting Services
Consulting services have become increasingly popular in the last few years. As more young people want to become influencers, it makes sense that top content creators would offer their help.
You should never underestimate the power of this service. Every platform has its peculiarities. While having experience with other social networks will help, you can still learn a lot from TikTok consultants.
There are several different ways a TikTok consultant can help a new content creator:
- A consultant can help you find an ideal niche. Even if you have a content preference, a consultant can give you a few ideas as to how to approach it.
- These professionals know that uniqueness is very important. They can help you develop the right content forms that will set you apart from the competition.
- Furthermore, a consultant will develop a long-term strategy for you. Oftentimes, new content creators don’t have a plan or direction, which comes back to bite them. They can also help you invent content series and other things that will be unique to your channel.
TikTok consultants usually charge based on their influence. In other words, if a person has a lot of followers, you will likely pay more.
In some cases, they are willing to work for a percentage. For example, when you start making profits, you can give them a percent of these revenues for a certain period of time.
Transitioning into other areas and multi-platform
You don’t necessarily have to make money on TikTok to make money off of TikTok. What do I mean by that?
Besides earning directly from activities on the social network, you can transfer some of the followers to other platforms. There, you can start earning from additional revenue streams. For example, you can funnel fans to a YouTube channel where you will start earning from YouTube ads.
This is a great way how to make money on TikTok while not necessarily being on TikTok.
You are probably wondering why you would do such a thing? Isn’t it better to continue growing on the same platform?
Simply put, every social media has inherent risks. We don’t know if TikTok will be popular in 10 years. So, by transferring people to other channels, you are able to mitigate some of the risks. As long as you’re able to make money from these alternative sources, you shouldn’t be at a loss.
Furthermore, if your TikTok fans also visit other platforms, they will still have the chance of enjoying your content.
Powering Your Profession
Of course, you can always use TikTok for your primary career.
If you’re in the entertainment business or aspiring to become an entertainer, this is a great platform that will help you launch it. The platform is especially great for dancing, singing, playing instruments, and similar things.
While TikTok’s format is not good enough to showcase your skills, it is good enough to give you the initial exposure. Then, you can take the follower to YouTube or Facebook, where they can help your videos go viral.
Grow Your Audience
Goes without saying that the bigger your audience is, the more money you can earn. So I also prepared a post on how to grow your TikTok audience.
You might have some success with print on demand or affiliate marketing, but otherwise, that is quite a small audience.
Yes. The bigger audience you will be able to gather on your TikTok channel the more profit you can make from it.
You can promote your own products, or take donations.