TikTok is the fastest growing social media platform in the world. Since its release, it has been downloaded more than 2 billion times worldwide. There are currently over 800 million monthly active users. As the app grows in popularity, this raises one question more and more often: Can you make money with TikTok? The simple answer is yes. But you can find out what that really requires here.
Why making money on TikTok is getting easier
Monetizing TikTok content hasn't always been the norm. In the early days of TikTok, branded posts were few. As more brands have entered the space, selling sponsored content on the social platform just got easier for the creators, and the amount of money you can make on TikTok varies a lot. But like any social media platform, having your content go viral can be lucrative. With the integration of TikTok into Teespring, announced in late August 2020, creators can now also sell merchandise directly to their fans. As TikTok's popularity continues to establish itself, more and more brands are pouring into the app. This gives creative people who can build up a TikTok fan base the opportunity to earn real money.
Ways to make money on TikTok
Monetization options for:
Creator
The opportunities to earn money as a creator with TikTok, of course, require a certain size of the channel and a relevant reach. When you have this, you have the following options:
1. Get paid by TikTok
TikTok has set up a $ 200 million creative fund that is set to grow to $ 1 billion by 2023. Through this program, TikTok pays the creators directly to post videos. TikTok has only been vague about how much creators can earn and how many get funding. According to TikTok experts, it takes at least 10,000 followers and 10,000 views within the last 30 days on your pro to receive money from TikTok - but this has not been officially confirmed by the platform. Content creators can apply via their TikTok profile. In the notification area, TikTok will send you an invitation to apply if you meet the minimum requirements..
2. Influencer Marketing
Social media marketing is becoming increasingly important due to the success of content creators on platforms like Instagram and YouTube. Influencers can advertise products or services to their followers and are rewarded for this by a company. Of course, this also works on TikTok. Once you have several thousand followers, you can reach out to brands with a collaboration proposal. They then simply create one or more short clips in their own style to promote a company's product. The compensation depends on factors such as the number of followers, the engagement rate, the type of product or service being advertised, the number of videos produced, the industry and the geographic location.
3. Collect donations
Plus, you can go live and collect donations from your viewers. TikTok users can buy so-called coins or coins and donate them to their favorite content creators during a live broadcast. The creator then converts these coins into diamonds, which can be converted into cash via PayPal..
You can easily have collected donations paid out. 4. Audio sponsorship
TikTok is a platform with an emphasis on audio. Songs and audio clips often go viral on the platform - Lil Nas X's Billboard 100 hit "Old Town Road" is a good example. Artists looking to mimic the success of Lil Nas X have started paying TikTok influencers to include their audios in posts. However, there is no formal way to arrange audio sponsorship. Therefore, users who want to monetize their TikTok presence in this way have to contact the artist directly or via the artist's management team - which is of course only promising with a large TikTok account.
Jenny Krupa, Skylar's grandmother, has a fan base of 2 million users. 5. Grow accounts and sell
You can create accounts in TikTok, make them big - and then sell. This is becoming more and more popular in the eCommerce and product sectors. Similar to Instagram, you choose a niche and then create fun content on a topic. At best, those that go viral and attract a specific audience. Most of the time, the profile itself has no value, but once it's sold to a particular brand, it can make a lot of money.
6. Merchandising
Another way for content creators and influencers to make additional profit on TikTok is to design and sell their own merchandise. In order to be able to earn money with merchandising, you have to have built up a certain fan base who is willing to spend money on your products. Building a personal brand is crucial here. This can be done, for example, by creating a popular online character or a recognizable logo. A good example of successful merchandise sales is Kristina Collins . With her wide range of beloved characters, she has won millions of followers and built her own brand.
Selling your own merch can be very profitable. company
TikTok is also a suitable advertising platform for companies and a contact point for social media marketing:
1. Place advertising
TikTok Ads are sponsored short videos that are posted on the platform in order to reach a larger audience. The ads are typically used to increase brand exposure, increase website traffic, or generate new leads. You can get a lot of attention if you use well-known TikToker for your advertising. They then present your product and achieve a large following.
Advertisements are shown to users when the app is started. 2. Promote your own merchandise
If you have the necessary capacity, you can of course also produce TikToks yourself and sell your goods in this way. Example: You have a cosmetic products store. Now, create creative 60 second makeup tutorial videos and post them on TikTok. Also provide a link to your shop for prospects or provide your contact information. This is a very easy way of generating leads for your business.
Many business owners advertise their merchandise on TikTok. 3. Manage influencer campaigns
There are already pure influencer agencies that look after Instagram influencers, for example. The same concept applies to TikTok as well. You can be the middleman or broker between a creator on TikTok and a brand that wants to work with that influencer. From creating the agreement, to managing both parties, to ensuring that all requirements are met - you can request a service fee for managing such campaigns. TikTok actually has such an in-house influencer program built in. However, you have to pay a percentage of the fee to TikTok for the referral.
4. Advice
Last but not least, you can advise Creator on TikTok. If you know how to make a video go viral, your advice to little creators can be invaluable. So you need a broad knowledge and experience with the creation of TikTok videos in order to be able to earn money with TikTok in this way.