How to make money on TikTok – don’t skip these basic methods!
The large number of users in the past four years has helped TikTok have a quite stable revenue and it is predicted that this application will grow quite strongly in the future. Then how will users make money on TikTok and does TikTok pay you, like how Youtube does?
So TikTok is one of the fastest growing social media platforms in the world. It allows users to create short videos combining music, effects and some other features. The content will sometimes be funny, sometimes it makes you shiver, but one thing for sure is that they will be very addictive.
Besides, since this platform is still very new, the monetization features of it are still very limited. But with a predominantly young audience and the lure of short, well-edited videos, this platform is expected to be a popular monetization video platform for creators.
That being said, let’s take a look at these 5 ways to make money on TikTok.
Become an influencer to make money on TikTok
Just to remind you this, even though this platform is just over 4 years old and with the majority of users are the youngsters, making money on TikTok is not so easy regardless of the less fierce competition like Youtube.
In order to become a TikToker, the first thing you need is a large number of followers. The videos especially need to be creative and strongly appealing. When the number of followers is large enough, there will be brands or businesses that advertise on your videos.
That is the most popular way to make money on TikTok nowadays. Currently, brands and companies are looking for influencers on TikTok to promote their products.
As a result, if you have the ability to create innovative, interesting and viral content, you can easily attract a large number of followers on TikTok.
This method is how to promote products through influencers. The expanding form of influencer marketing is not only available on TikTok but also on other platforms like Youtube, Facebook, and Instagram. If TikTok creators are really famous and charismatic, each ad will bring influencer thousands of dollars.
How much do TikTokers make?
As for who is the highest paid TikTok earner in 2020, Chali D’Amelio sits at the top of the most prevailing TikTok influencer in the world. This 16-year-old dancer and lip-sync performer can get around $48,000 for each of her videos.
Joining the video sharing platform TikTok in July 2019, D’Amelio quickly received attention thanks to the dance videos and lip sync of famous songs in the US.
After only 9 months of use, D’Amelio has more than 41.4 million followers globally, and now she has had over 100 million followers, becoming the world’s largest follower TikTok account.
Donations from live streaming
Inside the Douyin app (Chinese TikTok version) with a built-in livestream feature available, you can now interact with fans right inside the app. Douyin also helps viewers donate items purchased in the store. The items will be exchanged for money, and deposited into your account.
Basically, users can buy coins (100 coins = $1.39) and send those to their favorite creators on TikTok as a form of giving thanks. To do this, users simply touch the icon and will be directed to a charity donation page right in the TikTok app.
Now, creators and users can add their payments information in order to do the “give and take” happily.
Sell your own products
Now, after building a strong fanbase, take advantage of selling the products that you have or you want to sell.
If you have items that you can trade, which are products created by yourself such as clothes, accessories, mugs or cups and so on, with your logo and name printed on them, or products that you imported for trading, you can show them on the videos and get everyone’s support.
In order to earn money from TikTok videos, let’s say you are a craftsman. Create videos that guide people to work on a trending or interesting product.
To be successful with how to make money on TikTok through your sales, you should know some of the following information about the platform:
- The very young audiences: you should choose the right products for this age group. For example, fashion, accessories, and technology products are quite suitable for sale on TikTok.
- This is an entertainment platform: you should create funny, interesting or highly trending videos to capture a large number of views, from which to navigate to sales.
- Do not focus too much on advertising: followers will probably leave you if you just work hard to post promotional videos. Instead, integrate ads into your entertainment videos to increase user engagement.
Indeed, you do not need to own goods to still be able to sell goods, this is called making money on TikTok platform with Affiliate Marketing. This method works extremely well if you know how to do it correctly.
For example, you are a passionate choreographer creating dance moves on the viral background music tracks on TikTok, like Savage Love (Jason Derulo), Bad Guy (Billie Eilish) and so on.
While preparing to film any of your viral dance moves, wear the outfits from the brand you partner with to promote their products. You can create dances that match the theme of the outfits and thereby increase the number of views and it’s more likely that the follower will click on the attached product link.
When you have a few thousand, or even just a few hundred followers, you can refer them to buy through the link.
If someone buys the brand’s clothes you will receive a small commission. This is the principle of how to make money on TikTok through Affiliate marketing.
The tricky thing here is that you have to know how to take care of your followers. Don’t make them feel too overwhelmed due to the constant and redundant.
On the other hand, you also have to find sellers that support affiliate marketing for you to collaborate to make money on TikTok.
And here’s the thing. The number of followers is not the only metric that certain brands or companies use to search for a TikTok influencers to work with. They mostly focus on the TikTokers who have potential audiences, which can enhance the engagement.
In fact, huge influencers can be very high-end and expensive that most brands can’t afford to pay them. Addison Rae has an estimated income of $5 million in 2020 while Charli’s sister, Dixie D’ Amelio can earn around $4 million.
Well, so maybe just a few thousand engaged followers is sufficient for you to consider affiliate marketing to make money on TikTok.
TikTok’s development statistics have become the focus of attention for global advertisers in general. Currently, TikTok has officially developed TikTok Advertising, or TikTok Ads.
To be more detailed, TikTok Ads allows users to add product links on videos, thereby helping to seamlessly transition from video content to e-commerce. Specifically, when a user views a clip, the purchase icon will appear on the right side of the screen about the product. As a result, customers will make a purchase with just one click.
Contrary to advertising on Youtube, you can easily define your targeted audience, create your ads and decide when and where to show them to potential customers with TikTok ads.
Advertising with TikTok helps reach more people who are more likely to love your product based on your marketing promotion and campaign goals.
Currently, TikTok has 3 forms of advertising which are:
- First View Take Over: Ads in the form of photos, videos or GIFs will be displayed as soon as the user opens the app.
- Regular Take Over: Your ads will be shown randomly in the first 80 videos. Also the samples of photos, videos or GIFs, the cost of this method will be cheaper and you need to make a strong impression in the first 3 seconds with the client.
- In Feed Ads: Suitable for brands with low budget who want to experiment with this new form. These ads are typically placed at the end of each video and will show up in the stream while users are browsing.
- Hashtag Challenges: (last for 6 days) This is a form of trend-creating advertising on TikTok. Brands can partner with TikTok’s marketing team to create hashtag challenges that encourage users to share content on the platform and create viral prominence for the brand.
FYI: The similarity of TikTok with other platform
To help you better understand the purpose of TikTok, their mission is to “capture and present creativity, knowledge along with precious life moments directly from a mobile phone.
That being said, TikTok allows everyone to be creative and encourages users to share their passion and creativity through videos”. With this mission, TikTok has been competing with monsters’ social platforms like Youtube, Instagram, and Facebook.
What has made TikTok stand out from its competitors is that it is more about entertainment and “slice of life”. Everyone can become content creators thanks to the app’s simple use. That is the reason why TikTok attracts so many users from all over the world.
However, since TikTok is relatively new, it still does not have the monetization features like Youtube. Therefore, to make money on TikTok you really need to be known as an influencer of this platform. From there you can access the methods to make money like we mentioned above.
Want to know more tactics to make money online?
Well it’s time to really pay attention to TikTok right now. In order to stay tuned for other articles on this promising money-making tools from trendy, short and vertical videos, join AudienceGain right away and leave a comment to let us know if you have any other questions.
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