Currently, you’ve heard the word TikTok. It is a popular video-sharing platform in the social media world. It is a fantastic app to create and upload short-form videos to build an interactive experience with your fans and followers.
With over 500 million monthly active users, you can’t ignore this amazing platform, especially if your brand wants to reach younger audiences. Every platform has increased in popularity, so many people are still trying to use this viral video platform to promote their business and make high revenue.
Most creators and advertisers on the platform ask if people can make money on TikTok?
The simple and truthful answer is yes!
Like other social media platforms like Instagram, Facebook, and YouTube, people can earn revenue using TikTok. If you wonder how you can make money on TikTok, you have to read this blog until the end.
Here, I’ll give you 7 insider strategies that will help you to make money on TikTok.
Let’s get detailed!
Before entering into the main topic, we can see a quick look at TikTok facts and why businesses use TikTok.
Most Important TikTok Facts You Should Know:
- TikTok is the most downloaded app in the Apple store and Google Play.
- TikTok has reached over 130 active users in the U.S.
- Many users open the TikTok app eight times per day.
- As of 2020, TikTok has generated $500 million in revenue from the United States.
- As of January 2021, TikTok has garnered 689 million monthly active users.
- Users spend an average of 52 minutes per day on the app.
Why Should Businesses Use TikTok?
- Great place for user-generated content
- Easy to target Gen Z users
- TikTok uses new techniques of marketing to impress your audiences.
- Expand your video reach and get high engagement.
- Users quickly find entertaining and informative content
- It’s easy to go viral and build your target community.
- Endless influencers and effective ad formats.
How To Make Money On TikTok
TikTok offers several opportunities for users to make money on the platform. But, you might use that opportunity in your own way to overtake your competitors.
1. TikTok Creator Marketplace
TikTok creator marketplace is also known as TCM, and it is the official platform that helps to collaborate with popular creators and brands. You can use the TikTok creator marketplace to discover the influencers based on the topic, country, reach, average view, and more.
Using this strategy, brands have the ability to see creator profile pages, audience demographics, engagement rate, and more. When some brand is interested in collaborating with a particular creator, they’ll receive a notification. Then, the creators or influencers can promote the brand and product in different ways, such as contests, giveaways, and reviews.
2. Enlarge & Sell TikTok Accounts
Another interesting way to make money from TikTok is growing and selling TikTok accounts. This technique is especially more popular on Instagram, and now it is replicated on TikTok as well.
To do this,
- Choose a perfect goal and niche.
- Make your content around it, and that is informative and interesting.
- After expanding your TikTok account to a certain level of followers and a better engagement rate, you can sell your profile to the relevant brand in your industry.
Creating high-quality videos is the key to making your account more attractive and engaging. If the TikTok account has more followers, a higher number of TikTok video likes, and a better engagement rate, the higher revenue you can earn it for.
For instance, Themed accounts are the easiest way to sell, and it’s hard to sell personal accounts. Because they can’t be easily attracted by the new users, with the TikTok themed account, you can quickly find buyers to sell your account.
3. Become A Consultant On TikTok
Are you an expert on TikTok?
You have an excellent chance to become a consultant on TikTok and earn huge money from it.
If you have a good knowledge of creating viral videos on TikTok with high engagement rates, you can easily make money from TikTok by teaching others how to make the best content for their brands. Nowadays, there are tons of brands, even many individuals trying to make their profile more attractive and get millions of followers to their accounts.
Hence it is an excellent way to leverage your income and become a famous person on the platform. Sean Young is a perfect example of a TikTok consultant. He generates ten thousand dollars per month by advertising the best content of celebrities and businesses for their brands and services.
4. Make Use Of TikTok Shopping
In the app, shopping features now come to TikTok. In October 2020, TikTok announced they would partner with the e-commerce website Shopify. It is one of the most effective ways TikTok creators and Shopify users promote their products and stores to the target customers.
TikTok allows its marketing campaigns to run their brand directly from the Shopify dashboard, and they can measure unique metrics on TikTok. Nowadays, TikTok has taken the social media world by storm. Because the platform is highly engaging and attractive for teens to reach more significant demographics.
Therefore, many marketers use TikTok as a shopping platform to show their business to the target customers and gain high revenue from it.
5. Become A TikTok Influencer
Similar to other social channels, one of the cost-effective ways to generate more money on TikTok is to become an influencer. The most popular TikTok influencers earned millions of dollars by using TikTok videos. For example, an influencer with 54 million followers on TikTok earned an income of 5 million dollars within 12 months.
Engaging followers count is a crucial metric before you become a TikTok influencer because most brands look at the number of engaging followers while choosing influencers to work with.
One more interesting fact of influencer marketing campaigns is that most brands prefer to work with micro-influencers – an influencer with 100 to 20000 followers. Because an influencer with millions of followers can be more expensive, they reach many audiences.
Pro Tip: How to become a TikTok influencer?
- Select your niche – Choose a niche that is relevant to your industry, and you can consistently create great content.
- Use TikTok pro account – Using a pro account is best for creators, artists, and influencers to provide trust to their audiences.
- Make an engaging profile – Profile picture and engaging bio are the two main factors to show your audiences who you are and what you do.
- Create viral content – High-quality content on TikTok gains a lot of engagement and receives new fans and followers to your profile page.
- Understand your target customers – Creating content that is relevant to your target audiences is essential to receive more engagement and turn viewers into long-term followers.
6. Coins & Gifts
TikTok allows creators to earn virtual gifts and coins from their viewers through live streams. Every user on TikTok who is aged between 18 or more can purchase gifts and coins from their profile. At the point of the purchase, you can see the price of your coins and gifts. Once you purchase it, that will automatically be added to your account.
There are lots of gifts available on TikTok live, so you can use the earned coins to purchase gifts. Wondering with these coins and gifts how creators earn money on TikTok? Diamonds – A gift that creators receive from their fans and followers on TikTok is converted into diamonds. Once you collect enough coins from your audiences, you can trade them for an actual currency from TikTok.
7. Use TikTok Ads
Like Instagram and YouTube, TikTok offers paid advertising for brands and businesses to show their products and services to loyal audiences. If you’re a marketer trying to generate sales and maximize your revenue, TikTok advertising is an excellent opportunity to achieve more success. Here are the types of TikTok ads;
- Infeed Native Ads – It is a short-form video that appears in between the user’s feed while scrolling their For You feed, and it is similar to Instagram stories.
- Top View Ads – when a user opens the app, top view ads will appear immediately, and it lasts for up to 60 seconds.
- Branded hashtag challenge – It is a powerful advertising feature to increase brand awareness and increase leads. With this advertising format, you can create your own hashtag challenge and pay TikTok to show your content to the Discover pages. When TikTok users see your challenges, they can participate in the challenge, create or recreate videos, and post their content with a specific hashtag.
- Brand Takeover Ads – When you want to get immediate attention from your target audiences, the brand takeover is the perfect advertising opportunity to deliver a direct message to wider audiences. TikTok allows only one brand takeover per day per category, but it creates an immediate impression.
- Branded Effects – TikTok offers branded stickers, augmented reality stickers, and lenses to creators to add value to their videos. These TikTok effects will appear for up to 10 days on TikTok, which helps users directly interact with your brand.
So, can you make money on TikTok? Yes, you can! Make sure to stay focused on the above-mentioned strategies.
Conclusion:
TikTok has a limitless platform in the social media world. It provides endless opportunities for businesses to create a powerful marketing campaign, increase brand awareness and generate sales.
If you properly utilize all the amazing features of TikTok, you can get more success and achieve your goal within a short span.
Thanks for reading!
Have a fabulous day!
Alison Williams is a social media content writer who works at Flatfitty, she is an experienced social media analyst, and her passion is to contribute to engaging content for authority blogs and websites. You can also visit her online at Twitter.com!