With TikTok increasing in popularity, a lot of people are wondering if the platform can be monetized. Creators on the platform are asking if they can make money from their videos.
The simple answer is yes.
Similar to other platforms like Instagram and YouTube, TikTok can be monetized. While TikTok doesn’t have an established system for making money from your videos, there are still several strategies you can use to make money on the platform.
Since the platform is still relatively new, there isn’t a lot of competition yet. Many people are still trying to understand the viral video platform. If you are wondering how, you can make money on TikTok, then you definitely want to read this article.
Let’s get started.
Grow Accounts and Selling Them
The first way people are making money from Tik Tok is growing accounts and then selling them. Similar to Instagram, you’re going to choose a niche and then go ahead and create entertaining content, ideally content that goes viral to attract that person who would be the ideal customer for your product.
There are already people in this space today who are growing TikTok profiles around a certain interest. Usually, it’s a niche topic and they might not have anything to sell, but they’re going to reach out to brands in that industry and sell their TikTok profile to them and people are legit making money this way.
The good news for product brands is once they have that account in their hands, it’s actually fairly easy to sell products. One way that people are selling products is through TikTok Live. They are launching products while livestreaming or they’re actually holding auctions while live streaming.
And, of course, there is the link in the bio where you can always drive your followers to purchase your product. So, if you’re the type of person to love TikTok, and you just want to grow a following around a certain topic and build that community around a certain topic, go for it and then reach out to those brands who would love to have access to those followers and sell them your account.
The second way people are making money from TikTok is going Live and collecting donations from viewers (just like you can do on other platforms, like Twitch).
Something called coins.
For a hundred coins it will cost you $1.39.
Now what do you do with these coins?
When one of your favorite creators is going Live, you can actually send them coins as a way of giving thanks for all of their effort in creating the content they do.
What does the creator do with this coin?
The creator turns the coins into diamonds and those diamonds can be converted into cash via PayPal.
Similar to other popular social media platforms, one of the ways you can make money on TikTok is by becoming an influencer.
While it's no easy task becoming an influencer, it’s definitely worth the effort. According to reports from Forbes, the most popular TikTok stars earned millions of dollars in the past year. Addison Rae with nearly 54 million followers was the highest-earning TikTok star. She generated an income of $5 million within a 12-month period. Charli D’Amelio (77 million followers) ranks 2nd with an estimated $4 million. Charli’s sister ranks third, earning an estimated $2.9 million in the same time duration.
While the numbers matter, follower count is not the most important metric that brands use in choosing influencers to work with. Most brands look at the number of engaged followers. An influencer with 20,000 followers might have a more engaged audience than an influencer with 100,000 followers.
Another interesting fact is that most brands prefer to work with micro-influencers (influencers with a few hundred to 20,000 followers). While influencers with millions of followers can reach a larger number of people, they can be very expensive.
In summary, all you need to become an influencer is a few thousand engaged followers. Your bio and profile picture should make a good first impression. If you feel like a picture is too bland, you can use a six-second video as your profile picture. This will add some personality to your profile.
Before you start creating videos for TikTok, try to understand your audience. To become an influencer, it’s important that you create content that your target audience will love. Analyze the content that receives the most engagement. This will give you an idea of the kind of videos to create. You can also mirror the content strategy of other influencers in your niche.
The next step to becoming a TikTok influencer is creating amazing content. Quality content on TikTok sees a lot of engagement. The more creative and entertaining your videos are, the more likely they are to go viral. Viral videos tend to translate into new followers.
The following are some examples;
For increased visibility on TikTok, you need to be posting regularly and consistently. If you want to become an influencer, you need to upload quality content regularly. It’s up to you to choose the frequency of your posts. Based on my personal research of popular TikTok influencers, 1 to 2 videos per day is great.
Engage Your Audience
Once you start building a following, it’s important that you engage with your audience. Interacting with your audience will help you reach influencer status faster. You can engage your audience by replying to their comments or asking them questions through your video captions.
To start making money as an influencer on TikTok, you need to let brands know that you are interested in collaborating. You can let brands know this via your bio. You can also start an outreach campaign or join an influencer marketing agency.
These steps will not only help to gain followers on your account but also provide an option of earning money through promotions. Here is how we are doing on the platform.
What do you think?
Related: How To Make Money On Social Media
Related: How To Make Money On Social Media