How to Earn Money From Tiktok
Have you ever fantasized about spending a lot of money on your mobile phone all day long?
When you figure out how to monetize TikTok, this seems to be exactly what happened. We see it every day: a large number of influencers make millions of dollars every year through their TikTok accounts.
This is not mysterious. Since its debut in 2016, TikTok has grown at an incredible rate—it is the first non-Facebook-owned application with 3 billion installs.
Although monetizing a TikTok account is not easy, it is definitely achievable if you have the dedication, strategy and willingness to learn how it does it.
In this article, we will study 7 ways to start making money on TikTok.
You know the saying, “Build it, and they will come.” This concept also applies to TikTok.
If you set up an account with loyal and engaged followers, you will be able to establish influencer partnerships with brands all over the world who want to connect with your audience.
In influencer marketing arrangements, brands will ask you to promote their products or services in your TikTok videos. The most common type of payment is company money or free items.
For example, Charli D’Amelio, one of the largest TikTokers, is an influencer of P&G (one of the largest brands).
Many companies want to have a place on TikTok, but do not have the time or resources to create and develop accounts.
Why not provide them with a fast path to TikTok’s growth? You can do this by adding and selling TikTok accounts.
For some time, people set up social media accounts and sold them to make money. For example, 23-year-old Ramy Halloun uses this TikTok monetization strategy to earn about $30,000 a year.
To successfully sell a TikTok account, you need more than a series of attractive videos in your account. You also need a specific focus and a dedicated follower.
Topic or “niche” accounts are easier to sell because the buyer can continue to create the same type of content after purchase to maintain followers.
For example, if the account you sell contains short videos related to unboxing, the brand you sell can continue to publish the same types of videos in the future.
Personal accounts are more difficult to sell because followers may be attracted by the individual rather than the content style.
When flipping your TikTok account, you need to develop a strong content strategy, interact with your followers regularly, and advise buyers on how to further participate in the newly purchased account.
Another way to monetize your TikTok account is through sponsored content. This is when the brand approaches you (or you approach them) to showcase their products in your videos. In return, they will pay you to compensate for your services.
You can first work with smaller brands to build your product portfolio. Contact local businesses in your area to see if they are interested in getting recommendations on TikTok. It might be a good idea to charge a minimum fee at first, then gradually increase it as you start to gain approval from TikTok creators.
However, if you are more willing to charge high prices and let brands come to you, consider joining the TikTok Creator Market (TCM). For those who are unfamiliar, TCM is a collaboration platform that allows brands to connect with TikTokers and carry out marketing activities.
However, you need to have over 100,000 followers, be at least 18 years old, and receive over 100,000 video likes in the past 28 days to apply.
So if you’re a new creator, it’s best to focus on making creative TikTok videos that you can share with brands to get some sponsorships.
4. Sell Your Own Products
If you are from the United States, Canada, or the United Kingdom and have a TikTok for Business account, you may be able to add shopping tags and product links to your profile.
Shopping tags are basically a new feature created by the collaboration between TikTok and Shopify. It is designed to help TikTokers who own a Shopify store to promote their products through the app. Users who click the product link will be redirected to the merchant’s Shopify store to make a purchase.
5. Collect Donations
TikTok has an interesting feature called tokens. If you are eligible for live streaming, you can collect these coins from the most dedicated and admired fans. Then you can finally exchange them for cash.
This is how it works: Assuming your biggest fan buys coins, the starting price for 100 coins is $1.39 (in increments of $139.99 per 1,000 coins).
If you are live streaming, the user can send you coins or use these coins to buy gifts for you. You can then convert coins and gifts to diamonds, and then use PayPal to convert the diamonds to cash.
TikTok is one of the platforms that many companies have difficulty mastering. The uniqueness of the channel means that the trend usually changes quickly.
Anyone can become a viral sensation overnight, and it is easy to lose a lot of fans.
This is why TikTok consultants are in high demand.
TikTok consultants are experts hired by brands to help them build influence and increase traffic to their TikTok account.
If you know how to make trendy TikTok videos, you can pay to teach others how to do the same. This is a great way to monetize your skills and build business relationships.
To successfully become a TikTok consultant, you need to prove that you can get thousands or even millions of video views. You also need to know how to take advantage of the different features of video sharing applications.
If you have had a lot of success on TikTok, you should cover these things.
7. Start A TikTok Talent Management Agency
Do you have experience in talent management, social media marketing or production? You can create a business that provides consulting and management accounts for the famous TikTokkers.
If you think about it, this is similar to actors having their own talent managers.
This is a particularly useful service for those who go viral overnight. They made a great video, wake up in the morning, BAM! They have more followers than ever before-but they don’t know how to maintain this momentum.
This is where you come in as a talent manager. You can help influencers:
- Looking for partners that match the brand image and fan interests
- Negotiate deals and agreements on their behalf
- Advise them on content strategies to maximize their exposure and engagement
- Come up with new and interesting ways to make money (for both of you!)