How to Make Money on TikTok
Social media has turned a lot of people into millionaires. Platforms like YouTube, Facebook, Snapchat, and Instagram have taken a lot of people from poverty and from not being known even in their community to being rich and famous.
Are you trying to figure out how you can make money on TikTok? You don’t need to be the next Addison Rae or Charli D’Amelio to start making some cash on the TikTok platform. In this post, you are going to learn 5 different ways you can make money on TikTok while having fun and doing what you love.
TikTok is the fastest growing social media platform at the time of writing this post, and a lot of creatives are taking advantage of the trend to build a career as influencers and generate sustainable income for themselves.
With over 1.5 billion daily active users presently around the world, you should definitely join the train to start making money on TikTok.
So, without much ado, lets get to it.
5 ways you can make money on TikTok doing what you love
You can actually go live on TikTok and start making money. This is a very amazing feature in TikTok that allows you to get virtual gifts from people which equates to money. How does this work?
First, you need to have at least 1000 followers to enable the Livestream feature on your account. To be able to do that, you will need to create good content that your target audience will enjoy. When your audience enjoys your content, they will follow your account and even share your videos with their circle in and outside TikTok. And before you know it, your account is growing fast.
Once you are able to go live, viewers can send you virtual gifts which you can redeem as money. The minimum payout is $100. This means you cannot withdraw less than $100.
So, if you are the type of person who likes to stream and go live all the time, you can make a lot of money as a TikToker. Aside from that, going live will help you increase your followers and build a strong relationship with them.
TikTok Creator Fund
TikTok created this fund for its content creators in other to support them to keep the platform busy and engaged. To get into this program, you need to have at least 10,000 followers, 100,000 video views in the last 30 days and be at least 18 years of age.
Now, there is no fixed amount to what users get paid per a thousand views as the calculation is based on different factors. But the more views and engagements your videos receive, the more money you make.
It may not make you rich, but it is a good source of additional income to pay some bills.
Note, you need to confirm if this feature is available to users in your country because as of the time of writing this post, this feature is only limited to users in the United States, Spain, Italy, Germany, France, and the UK. Maybe other countries have been added to the list.
Don’t get discouraged if this feature is not available in your country as you still have other options.
This is pretty common with platforms like YouTube, LinkedIn, and Instagram. You will need to have at least 50,000 followers to start getting requests for sponsorship from brands.
With sponsorship, brands will approach you to make sponsored content for them. They might want you to create an advert about their product around your content. Or tell you to review their product and endorse it to your followers and pay you for that.
One reason brands do this is that they are not just using the influencer as a marketer for their products, they are also using his or her asset to promote their product as an advert on the TikTok platform.
If you want to get sponsorship, you will need to position yourself as a brand and create a media kit. A media kit is where you talk about who you are on TikTok, your target audiences, how many views you are getting on a daily on your content, what you can do for the brand, and your price per post.
When you have this sorted out, you can present this to brands you will like to work with and see if they will want to work with you.
One rule of thumb is to not take sponsorships that don’t fit you and your audience. If you start promoting products your audience doesn’t like, you will start losing followers and that may lead to the end of you being a highly-sought after influencer.
Also read: How to Build a Massive Following on TikTok
Sell Your Products or Services
You can also make money on TikTok by selling your products or services. If you have a good number of followers who you have built a strong relationship with, you can sell your products or services to them.
Followers who love you and your content will gladly buy whatever you are selling if it is of value to them. You don’t need large followership to begin selling your product or services. You just need a loyal following who loves you and your content. Although, the more followers you have, the more sales you can make.
TikTok has a feature called TikTok Shopping that empowers users to sell products directly on the platform. With TikTok Shopping, you can add a shopping tab to your profile where your followers can see products you have on sale.
This is how most people on TikTok are making their money. With affiliate marketing, you don’t need to own any product. You just need to sign up as a marketer (affiliate) and promote the product to your followers.
You get paid a commission when your followers click the link to purchase the products. You don’t also need large followership to start making money with affiliate marketing on TikTok. But the more followers you have, the more money you can be making.
Tips for Building a 6-figure Empire on TikTok
Stay in Your Niche
If you want to be successful in making money on TikTok, you will need to pick a niche and stay in your niche. If your interest is sharing financial advice, stay and dominate the niche. Build yourself to be famous as a financial advisor on TikTok.
Kat Norton, popularly known as Miss Excel on TikTok built a large followership by sharing Microsoft Excel tips. As simple as that may seem, she has grown her audience to over 750k followers and now she earns seven figures from the sales of her course and brand sponsorships.
Understand Your Audience
When you know and understand your audience, you will be able to feed them with content they will enjoy. Majority of TikTok users are under the age of 35 and majority are in their 20s.
So, whatever niche you choose to position yourself in, make sure your style of content suits this age bracket. Your content must be presented in a fun manner or else, you won’t be able to grow your account easily.
TikTok can be a good source of income if you give it your 100%. A lot of users are making a full-time income on TikTok doing what they love. There are too many ways to make money on TikTok. You can go all-in on all the ways and build a 6-figure empire with it. There is no limit to how much you can make with TikTok. Good luck!