TikTok has taken the world by storm and has become one of the most popular social media platforms. Since the start of the pandemic, people have stayed at home and looked for something entertaining to watch, and they discovered TikTok. Since then, its popularity has increased rapidly, and many content creators and influencers have created accounts for their followers on TikTok. New influencers have emerged from this catchy platform for their creative content. We hear about the serious money those influencers earn from TikTok, and the numbers are huge. If you dance, sing, do comedy sketches or have any creative talent, you can make money on TikTok. However, it is not only about creating an account; you can easily make money following these tips below.
Growing and Selling Accounts
We have heard about people who grew accounts on various social media platforms or and then sell them for a huge amount. TikTok is not an exception, and it is becoming more and more popular by the day. This strategy is typically easier when you are growing a themed account and not a personal one. Followers get attached to the person, and they may even unfollow if the account owner changed. Themed accounts, on the other hand, are easier to sell, as followers may not even notice the change of ownership. For example, if you grew a themed account around food, you could easily find buyers to purchase the account, such as food chains, restaurants, or other food enthusiasts. Typically, the more followers and engagement ratings you have, the higher the price you can sell the account for.
Collecting Donations
Similar to Twitch, Tiktok has a fantastic feature that allows viewers to donate to their favorite influencer or content creator. However, the only way to collect donations is by going live on the video-sharing app. Viewers can purchase coins and then buy gifts with these coins, and when a creator goes live, their viewers can send these gifts. After receiving those gifts, the creator can turn the coins into diamonds (not real ones, unfortunately!), and then convert those digital shiny diamonds to cash through PayPal or some other supported payment channel. Keep in mind that your TikTok and PayPal accounts must be verified to be able to transfer money. However, not every TikTok user is allowed to join the app’s Livestream program, as only selected users are chosen to have access. If you want to qualify for the program, you need to create quality content consistently, increase your followers’ number, and increase the engagement rate on your videos through likes, comments, and shares.
Publishing Sponsored Posts
Creating content with sponsored products or services is an efficient way to make money on TikTok. On average, you can make $0.01 to $0.02 for each sponsored view, and if your video got 100,000 views, you can earn around $1000 in sponsorship. However, you need to have a large number of followers and a specific niche to pursue sponsorship deals. Creators who had such deals had to increase their exposure on TikTok first before contacting sponsors. The good news is that you don’t need millions of followers to seek sponsors, but what you do need is a few thousand engaged followers. Once you have achieved this target, look for brands that are interested in building their TikTok presence, and contact them. Check competing creators and reach out to those brands. After gathering a list of brands, pitch to them your idea through an email, and tell them about yourself, what you offer on TikTok, your followers count, engagement rate, your expertise in your niche, and your achievements, whether in the industry or from previous sponsorship campaigns. If you are relatively new to sponsorship deals, it would be a good idea to contact small brands to build up your portfolio.
Managing Creator Campaigns
Instagram has influencer agencies that act as the middleman between the influencers and the brands. The same can be done for TikTok. You can create an agency that can help brands strategize, execute, and manage campaigns with TikTok creators. You can help brands reach the best creators for their products, and help creators to contact the brands that fit well with their content. You can work on various social media platforms, not only TikTok. However, as a TikTok agency, you have to identify the best creators with a high track record, contact and create a relationship with them, have experience in running marketing campaigns for creators and brands, and diversify your campaigns to build a strong portfolio. Take into consideration that TikTok has its built-in creator program, but brands, especially smaller ones, prefer to use agencies as they are more affordable.
Selling Your Own Merchandise
Similar to other social media platforms, you can sell your own merchandise on your TikTok account. The good part is that you don’t need millions of followers for this to work, but the more the better. You can create short videos, post them on the app, and add a promotional frame by the end of the video to allow customers to reach you. The more creative and interesting the video is, the more engagement you will have. Alternatively, after amassing a large number of followers, you can create merchandise that has your name, logo, face, or even a catchphrase you say, and sell it through videos or a link in your bio. Viewers get attached to creators and want to get something personal related to their favorite creators.
TikTok has a lot of interest and not a lot of content, which makes it a great opportunity for making content and earning serious money by monetizing your social media. If your content didn’t get enough views, it doesn’t mean you should stop trying, as the TikTok algorithm can push your content to the “For You” page even after months of posting it. There are various ways to make money on TikTok, no matter how experienced you are at it. Invest in yourself and your camera if you want to create high-quality content on TikTok, but it would be all for nothing if your videos are not engaging or entertaining.