TikTok has generated a lot of buzz since its launch in 2016. TikTok which is ranked number 6 on the global list of “most used Social Media Platform worldwide”, has a population of over 1 billion active users. Many brands use their large audience to make money, you too can also make money on TikTok.
This article aims to share a few tips on how you can make money on TikTok.
Table of Contents
About TikTok
- Officially known in China as “Douyin”, TikTok is a short form video creation and sharing social app that was created by the Chinese company-Bytedance in 2016.
- TikTok allows its users to showcase their creativity through the use of 15- second to 10 minutes videos of any genre including comedy, dance, entertainment and business.
- The TikTok app incorporates several features(a wide category of songs and sounds, special effects and filters) that have made it unique among other social media networks.
- Today, TikTok is known as a convenient go-to social network by millions of social media users who also use the unique video features TikTok offers to make money on TikTok.
Requirements needed to make money on TikTok
There are several ways to make money on TikTok but first, you would have to meet TikTok’s criteria before you would be given access to make money on TikTok.
Listed below are TikTok requirements for its users:
- To make money on Tiktok you must be 18 years or older.
- You must have more than 10,000 followers and at least 100,000 views within 30 days. Looks difficult? It isn’t. (If you provide the right content for TikTok audience needs, you can meet this criteria within two weeks because when people get value from what you do there will always get back to receive more)
Ways to Make Money on TikTok
Become an Influencer for a popular brand
One of the ways to make money on TikTok is to be a Tiktok influencer. Since TikTok launched in 2016, millions of businesses and brands have created profiles on it to market their product to TikTok’s growing audience. These brands pay TikTok influencers to advertise and promote their brand through the use of sponsored content presented to their followers.
Did you know that about 68% of United States marketers used TikTok for their influencer campaigns in 2021?
As a TikTok influencer you can earn up to $50,000 per video but you will have to provide content relevant to the business services. Here I would suggest you work with brands you are comfortable with their mission, that is one way the content you would be creating for them would be unique, well that’s what they will be paying you for.
Work with an influencer
If you must make money on TikTok as a business, you would have to partner with an influencer to promote your brand image and project your business to their followers.
Become a TikTok consultant
TikTok consultancy is another way to make money on TikTok. If you have a great knowledge of how TikTok works some people are willing to pay you to grow a large audience for them. You can also build and sell TikTok accounts. Honestly, making money on TikTok is easy this way but you would have to be recognized TikTok brand first. You can achieve this by finding your niche(what videos are you good at making) and sticking to it, by being unique in presenting your TikTok contents and consistency.
Use TikTok as a market channel
TikTok features provide a convenient way to begin a business on TikTok. You can use TikTok videos or TikTok whopping feature to showcase your products or service to your target audience and make money.
To make money by selling products you will need to identify what makes your products unique from your competitors and include a link to your shop in your bio. This will prove how authentic your business is to TikTok users who also double as your potential customers.
You can use the Infeed ads with the TikTok ads manager to further advertise your products to your target audience directly to their feeds.
Collect virtual gifts from your followers or begin a fundraiser
TikTok has a live gifting feature that allows followers to gift each other virtual gifts in real time which can be redeemed. You can make money on TikTok from virtual gifts given to you by your follower but you would have to know how to go about it.
The trick is, to have a large audience, produce unique videos, pick the right time to go live, use popular hashtags on your TikTok videos and always stay live longer.
Creating a fundraiser on TikTok is also a good way to make money on TikTok. You can be passionate about life-changing projects and create TikTok videos about it to share with your audience for a crowdfund.
Make money on TikTok by joining TikTok’s creator fund
TikTok creator’s fund awards 2-4cents for every 1000 views and it is a popular way to make money on TikTok. The fund is TikTok’s way of encouraging its users’ creativity still, there are certain requirements TikTok requires from its users before they can access it.
Applicants for TikTok’s creator fund must:
- Be a resident in the United Kingdom, France, the United States, Spain or Germany.
- Be 18 years or above in age
- Must have an account that abides by TikTok’s community guidelines.
- The TikTok creator fund can only be applied by TikTok’s pro app users. If you are a TikTok pro user, you should on leverage this and make money.