United States, 23rd Sep 2024, - Everyone knows that social media is a free marketing tool. But turning that knowledge into actual money on TikTok can prove harder in reality. Just because you have a lot of TikTok content, does not mean you will automatically make money on TikTok.
Those wanting to turn their TikTok app into a revenue stream will hopefully find value in this list we have put together. TikTok creators have a lot to offer and if you can earn money along the way, then everyone benefits.
Before you start looking to make money, however, you should ensure that your TikTok presence is strong. You may need to buy TikTok followers for cheap or work on promoting your account so you quickly monetize your content.
Many TikTok Users Are There
Let’s first discuss whether TikTok accounts can really make money. Since its inception in 2016, TikTok has taken the world by storm. All it takes is one video or one challenge, and the whole world is talking. In fact, a TikTok video about cucumbers actually led to a shortage of the vegetable in Iceland.
Now, there are over 1 billion TikTok accounts all over the world. Indonesia actually leads the way with the most TikTok users, followed closely by the United States and Brazil. TikTok truly is a global phenomenon.
With this information, it is clear that TikTok is on par with other social media platforms such as Facebook and Instagram. It is most definitely possible to create content and generate revenue.
Make Money With a TikTok Account than With Other Social Media
Making money requires a lot of hard work. At first, social media platforms just wanted to help people engage with each other. This creator marketplace, however, has now morphed into a way that businesses can generate free advertising. Social media platforms are essential if you own a business, whether you are selling goods or offering services.
Because TikTok is relatively new, its inception included ways for the TikTok community to make money. There are plenty of built-in opportunities within the app, as well as external options for businesses and people. Really, out of all the social media channels, TikTok might just be the best suited for monetization.
Personal or Business Revenue Streams
You should first decide if you want to use your personal TikTok account or create a business account. Which one you use will be determined by the type of revenue stream you want to focus on.
Any sort of brand partnership or influence model should be associated with a personal account. This adds a sense of familiarity to your TikTok followers.
On the other hand, if your target audience is also those who will buy for you, then business accounts will have more of an advantage on TikTok.
7 Strategies To Make Money With TikTok
Now that we’ve established that TikTok is, indeed, a good way to make money, let’s dive into a few ways to turn that potential into a reality.
1 – Sell Products
One of the simplest but most effective ways to monetize your TikTok account is by selling products. This is one of the more straightforward ways to make money and might be a good starting point if you are still learning the ins and outs of the app.
First, you want to have your own brand. You should have a website set up. This can be a link to an online store, but it needs to be a simple landing page where people can go to buy your products or book your services.
If you don’t have a company website, you can create a TikTok shop. The TikTok creator marketplace allows you to skip the set of creating a website and sell directly from the app. This is a nice option if you don’t have anything in place yet but are ready to start selling.
As for promoting products, a TikTok video is the perfect way to explain exactly what you are selling. Instead of using large blocks of text, you can easily demonstrate what your business model is.
If you want to sell a service, you can show your followers what you do. And, if you want to sell a product, you can test it out or model it, so that they can see it from all angles.
Many people prefer shopping for clothes online but are hesitant to make the final purchase because returns can be a big hassle. Creating videos that showcase your merchandise with real people will help your customers understand what the actual sizes look like. This will increase their shopping confidence and result in more sales.
2 – Create Affiliate Partnerships
Perhaps you don’t have a product you want to sell but you do have a substantial following. You can turn these TikTok followers into a revenue stream fairly easily.
Sponsored posts are extremely common. Basically, when you see that a TikTok post is sponsored, it means that a brand has paid the content creator. You may make a flat fee or a per-post rate.
Sponsored posts can simply promote products or services. They can also include an affiliate link. With brand deals, you get paid for every click on a link and then more if those clicks result in sales.
When you publish sponsored posts, you do need to declare this so that everyone is aware they are viewing an ad. As TikTok influencers become more mainstream, your followers won’t be thrown by seeing that you now have sponsored posts on your account.
3 – Go Live
You can choose to either upload pre-recorded videos to TikTok or you can livestream videos. Both have their advantages and you might want to include a mix of them. Live videos can be nerve-wracking, so practicing by recording your videos may be a good way of beginning with the app.
When you create a live video, you can actually ask for virtual gifts. Again, this might seem awkward to you at first, so you don’t have to start with the option but can ease into it as you become more familiar with TikTok videos.
In order to actually have money gifted to you, you will want to establish meaningful connections with your followers. You can’t simply ask for money from people who don’t know you.
Instead, take them on a tour of your home or your workspace. Having a goal for any money asked with also improve that connection.
4 – Crowdfund New Projects
There are many crowdfunding platforms such as Kickstarter and GoFundMe. In order to drive traffic to these sites, you need to promote them, which is where TikTok comes in.
First, decide what you want to raise money for. Then, think about any rewards you can offer along the way.
For example, if you reach a certain money threshold, you can offer exclusive content to your backers. You can also provide your own products for larger donation amounts.
What is really nice about crowdfunding sites is that they offer money protection for backers. If a project isn’t completely funded, money is returned. People are more likely to support you if there is a third party that handles the money.
5 – Ask for Money
While there are a few creative ways you can solicit money, here are a few direct ways of asking for it. Again, asking for money right out of the blue is not going to end in success. Instead, you want to explain why you need the money and what you will do with it.
Patreon Subscriptions
Way back in the Renaissance, there were patrons of the arts. These were wealthy people who paid painters and writers to simply create. Now, the tradition has been revised through a site called Patreon.
Patreons give money to artists. It can be a small amount or a large amount. It can be a one-time amount or a monthly subscription. Usually, when you give money to an artist through the site, you get rewards, such as premium content.
In order to be successful with Patreon, you need to be an artist. You can share videos of your singing or even tours of your art studio. If you are an animator you can create videos.
This also works for those who give advice. If you have daily mantras to help instill calmness in people or want to share quick exercise routines, TikTok videos are a great medium to consider.
Ask for Tips
Yes, you can actually earn tips on TikTok. Essentially, if you provide a service, such as sharing meal preparation plans or financial advice, you can ask for a tip.
TikTok tips are small amounts. But they can add up quickly.
If you go this route, be sure to use a third-party app, such as Venmo. You can provide an email address for an e-transfer but be prepared for unsolicited emails. The more personal information you give out, the more likely it is to be exploited.
6 – Join the TikTok Creativity Program
TikTok, like other social media platforms, is constantly innovating. One new way to make money through the app is the TikTok Creativity Program. This is still in the beta testing stage but will soon be available to everyone.
The creativity program is a reward feature for creators. To be eligible, you need to create videos that are at least one minute long. You also need to have at least 10,000 authentic followers. Fake accounts do not count in this number.
Another stipulation is that in the 30 days prior to joining the account you have had at least 10,000 authentic video views. This number does not have to be for just one video.
Finally, you cannot use a TikTok business account.
Basically, after you join the TikTok Creativity Program, you can start earning rewards. This is based on your video views. The more views you get, the more points and rewards you will earn.
When TikTok determines that your videos qualify for rewards, the money will be deposited in your TikTok account. You can then link up a payment method and be paid directly.
7 – Tap Into the TikTok Creator Rewards Program
TikTok as a whole earns money through ad revenue. Thankfully, the social media platform understands that it only gets ad money because so many people create interesting videos that people want to watch.
As a sort of way of saying thank you to video creators, the Creator Fund was created in 2021. It started with hundreds of millions of dollars and has steadily grown as the total ad revenue of the app has also grown.
Unfortunately, TikTok is very secretive about just how much money from this pool is distributed to accounts. Even though the total amount in the fund is a lot, remember that there are a billion TikTok accounts.
Ultimately, if you have a TikTok account with a large following and videos that a lot of people watch, you will get a share of the fund.
While this is a good way to earn some money through TikTok, it should not be seen as your main revenue source. Instead, think of it as bonus money that you collect in addition to the other ways of making money that we explained earlier.
Spend Money to Make Money
Ultimately, how many followers you have will be directly proportionate to how much money you make. If you don’t have a lot of followers, you should not expect to make much.
Even though the goal is to make money, you may have to spend a little to make more. You will never tap into the total TikTok audience. In fact, more successful creators have a niche market. However, there is no denying that without TikTok followers, you don’t have a chance of making money.
Run TikTok Ads
If you want to attract more people to your TikTok account and increase your follower count, running ads is an easy and effective method. You can set your budget accordingly.
When you pay for a TikTok ad, make sure you put your best foot forward. Engaging content will encourage new followers to take a chance on you.
Buy TikTok Followers
Want an even easier path to more followers? You can actually purchase them.
As long as you go through a reputable site, such as SocialsUp, you can find authentic TikTok followers. Again, you can set the parameters according to your budget. As long as you purchase followers that are real accounts and not bots, which this site uses, then you won’t violate TikTok’s terms and conditions.
Often Should I Post TikTok Videos?
Your favorite creators on TikTok post regularly. So should you. However, if you include sponsored posts, these should not be the majority of your videos. If you post too many ads or appeals for money, then you will quickly lose followers.
Instead, create content that will keep your TikTok followers while simultaneously attracting new followers. Content creation is all about balance. Even though your primary goal may be to make money, that is not the primary goal of your viewers.
Always aim for at least one TikTok video a week. Ideally, however, this number is more like three or four times a week. It can be hard to think of new, creative ways to film TikTok videos, so be sure to look through other accounts to see what they are doing.
A mixture of videos will often be the most successful. For example, go live once a week. Take part in a challenge once or twice a month. Do a series of day-in-the-life videos, or behind-the-scenes videos. Once you start to think of TikTok videos as different categories, it can make the process a lot less overwhelming.
Conclusion
TikTok has a wealth of possibilities. It can inform people, make connections, and yes, it can make you money. Whether you want to directly appeal to customers or work with brand sponsorships, there are plenty of possibilities with TikTok. It’s best to invest your time in a couple of revenue streams so that you can make the most amount of money.
The bottom line, however, is that your content still has to be entertaining. Your followers will only continue to give you money, even through purchases, if they find what you are doing worthwhile. With one billion accounts, it is easier than ever to stroll on until something better comes along. The stronger your brand loyalty is, the stronger your earning potential will be.
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