Yes, you can make money on TikTok. You might have wondered why people post more and more on social media. Here is the truth: ‘TO MAKE MONEY.’ So, let’s dive deep into the article to know more about making money on TikTok.
TikTok is a trending application for creating short videos and making money online. There are several reasons behind it, like influencer marketing, pay-per-view, etc. So people who can influence others to buy their product or watch their videos more can make money quickly using their TikTok account. If you want to opt for this way of making money, follow the tips mentioned below.
Since its debut in 2016, TikTok has grown incredibly fast and is also the first app not owned by Facebook to hit three billion installs.
How Much Can You Earn on TikTok?
The stats for the highest-earning TikTok stars are pretty mind-boggling.
Most of TikTok’s best-paid are young and hot, as is the case for celebrities and rising stars. Also, remember that age is never a barrier on social media, and all that matters is how unique your content is.
In nearly every category, intelligent folks are using short videos to make big money.
Some of the TikTokers who earn the most in TikTok are listed here:
- Dancing queen Addison Rae Esterling reportedly makes $5 million yearly through the app, making her the highest-paid user on TikTok. Next in the line are Charli and Dixie D’Amelio, who make $4 million and $2.9 million a year, respectively.
- @jiffpom, a tiny Pomeranian, is the highest-earning dog on TikTok, earning an average of $12,540 per post.
- Demi Bagby is the highest-paid fitness influencer, who made over $3 million from less than 50 ads in 2020.
- And in the world of food, celebrity chef Gordon Ramsay made the most money with a reported $3.8 million in sponsored posts last year.
Steps to Make Money on TikTok
1.Keep your profile unique
To attract more people to your TikTok account, you have to make a unique TikTok profile. Think of creating content which people will welcome and like continuously. Your motto of making a TikTok account should be increasing followers as much as possible.
2. Post content that people want to watch
Being a social influencer(on TikTok, Instagram, or Twitter) requires much work. Keep your content fresh, interesting, unique, and updated. This means multiple new videos every day. You can also try trendy stuff but keep in mind that you have to be the cause for a trend to stand above all.
3. Follow the trend
Pick those songs or concepts which are trending online. For this, you can do a little bit of surfing on some popular social media platforms to understand the audience’s mood.
4. Growing accounts and selling them
The best way people make money from Tik Tok is by growing accounts and then selling them.
This is becoming more popular in the e-commerce or product space.
There are already people who are growing TikTok profiles around a particular interest. Usually, it’s a niche topic and might not have anything to sell, but they will reach out to brands in that specific industry and sell their TikTok profile to them, and users are legit making money this way.
The good news for product brands is that once they have that account in their hands, it’s relatively easy to sell products.
Another way that people are selling products is through TikTok Live. They are launching products while livestreaming or they’re holding auctions while live streaming.
And, of course, add the link in the bio to drive your followers to purchase your product.
So if you’re that person who loves TikTok, and you want to grow a following and build that community around a specific topic, go for it and then reach out to brands who would love to have access to your followers and sell them your account.
5. Link your other social media accounts to TikTok
Link your YouTube and Instagram accounts with TikTok as it will help you increase audience reach for your TikTok videos. To add your YouTube channel to TikTok, navigate to the ‘Profile tab’ on TikTok, tap ‘Edit Profile,’ and choose the ‘Add YouTube’ option.
To add your Instagram account to TikTok, you can tap ‘Add Instagram’ under the ‘Edit Profile’ option.
6. Become a TikTok Influencer
If you build a TikTok account with loyal and engaged followers, you’ll be able to score influencer partnerships with a vast number of brands all over the world that want to connect with your viewers.
A brand will approach you to promote their products or services in your TikTok content in influencer marketing. The most common payment type is money, or you may receive free stuff from the company. But the hard truth is, brands only reach those who already have a pretty good number of followers.
7. Make a press kit for your account
A press kit is similar to a film trailer for yourself that excites all of the great things about you, provides brands good reasons to collaborate with you, and includes contact information, photos, and notable achievements. Then, make them want to see what happens next, a bag of popcorn in hand. Use websites like Templatelab that offer press kit templates for free.
8. Create a few non-sponsored posts
Most brands will want to notice that you have what it takes to drive sales to their business. So making a couple of non-sponsored posts chatting up your favorite pair of shoes will make that elusive specialty sock brand more likely to want to partner with you.
9. Sponsored content posts
Loren Gray is a famous TikToker who earned $2.6 million last year with over 45 million followers. Seeing her popularity on TikTok, Revlon offered a significant deal where she created content for the company’s TikTok account and Revlon-sponsored for her posts.
10. Branded merchandise
Once you gain popularity on TikTok, you can sell a wide range of merchandise like makeup products, software, tools etc by partnering with various brands.
11. Use your stardom to launch your Artistic Career
With 34 million TikTok followers, Baby Ariel was the first individual to surpass the 20-million-followers mark on Musical.ly (currently TikTok), and her fame has only grown from there. Baby Ariels’ fame has led to multiple gigs on Nickelodeon TV, and Disney Channel shows.
12. Collect Donations
TikTok has an exciting feature called coins. If you have the option of live streaming, you can collect these coins from your most dedicated and adoring followers. Then you can exchange them for cash.
Here’s how it works: For example, your most significant fan purchases coins, which start at $1.39 for 100 coins (and go up to $139.99 for 1,000 coins).
If you’re live streaming and a user likes your content, he can send you coins or buy you gifts using those coins. Later, you can turn coins and gifts into diamonds, then convert diamonds to cash using PayPal.
The only drawback is that live streaming isn’t open to everyone. In addition, TikTok hand-selects users for live streaming, so you’ll need to have a complete account before you can monetize TikTok with this option.
The Chinese version of TikTok, Douyin, has a similar feature: during a live stream, an account owner can offer a “shopping cart” option to sell their products and services during the stream directly.
Some people predict that this feature will eventually come to TikTok, another extraordinary approach to making money on TikTok.
13. Tiktok ads platform
You make money from TikTok using their ads platform.
Just like Instagram and Facebook ads, you can Google “TikTok ads” and sign up for access to the ads platform.
It is pretty self-explanatory if you’ve ever tried paid traffic before. If your market’s on TikTok, it might be worth creating a few ads, experimenting by putting some budget, and seeing what happens.
By doing so, you can sell more of your products through the TikTok ads platform!
14. TikTok Consultant
Once you gain expertise on TikTok, many users look out for your guidance. Being a relatively new social platform, users will pay money to hire you as a consultant to help them create their strategy, increase their brand value and boost their followers.
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Making money on social networks like TikTok isn’t easy, and it takes a lot of time for you to get established as a famous face on TikTok. If you get shut down by just one brand or influencer, keep trying more. Hard work pays off, and be patient to succeed in your way.