The short video-sharing platform, TikTok, has hit the internet by storm. According to a recent report of Cloudflare, TikTok beat Google by gaining more users in 2021 and becoming the more visited site on the internet.
The report unveiled by Statista shows that TikTok has overall generated more than 2 billion downloads.
Content creators or influencers create short videos that include dancing, comedy, cooking recipes, education, and more. There is always something for everyone on TikTok.
This wide variety of content has opened great opportunities for businesses to collaborate with influencers and increase their brand reach and engage with customers.
Just like other social media (Facebook, Instagram, etc), you can also make money on TikTok. But the question is how to do this. and where to start?
Read this detailed guide to the end where you’ll get to know about how to make money on TikTok and how to become a great influencer on TikTok from zero to hero.
How to Make Money on TikTok?
As I mentioned above that TikTok has gained some serious attention in recent years. During the COVID-19 Pandemic popularity of TikTok increased up to 180% among people of age 18-25. India became the country with the most number of downloads. It has been approximated that 30% of total downloads are from India.
As the audience is growing rapidly so how can you take advantage of it and make money on TikTok?
There are many ways you’ll find out there but here I’ll show you the 4 proven ways to make money on TikTok.
- Earn Directly by TikTok Creator Fund
- Partnership with a brand and Make Sponsored Content
- Make money from TikTok ads
- Sell Merchandise to TikTok users via the platform
Before getting into the ways of making money let’s first discuss the steps you’ll need to take to get in a position to start making money.
- Build your Fan Following – Identify your identity on TikTok by building a fan following. I’ll show you how you can get more followers on TikTok in the later section.
- Choose a niche – Niche means the topic for your video content. Niche has a direct relationship with followers. Selecting the right Niche for your content is very important.
- Consistency – Consistency is the key to success. Make sure you create quality content for your fans and post regularly.
- Engage with your Followers – The more you engage with your followers the more you’ll be identified by users out there. This will help you a lot when publishing sponsored content.
Make Money with TikTok Creator Fund
In July 2020 TikTok announced Creator Fund in order to encourage and reward creators to make incredible videos. But before applying to the TikTok creator Fund you need to tick a few boxes.
- Only those users can apply to Creator Fund who are residents of the UK, the US, France, Germany, Spain, and Italy.
- Have a minimum of 10K authentic fans Following
- Users must be 18 years old or older
- Have authentic 100K video views in the last 30 days
- Make sure you have posted 3 videos in the last 30 days
- Make sure your account meets the TikTok community guidelines and terms and conditions.
How does Creator Fund work?
Once your account has been accepted onto Creator Next, now you can start using the creator fund.
The creator fund pays you for the views and engagement on your video. You’ll be paid by the creator fund for the videos that meet TikTok community guidelines and Terms and Conditions.
Once you’re paid, you can withdraw your money from the Creator Fund dashboards through various channels like PayPal, etc.
How to Get More Followers on TikTok?
Well, this is the most common question you’ll hear from every TikTok user on how to increase your Fan Following.
Followers are directly related to the quality content and niche you have selected. Again consistency is key to success, if you post regularly and keep engaging with your audience you’ll get more views and followers as well.
Below are some of the tips which you can follow to increase your followers and grow on TikTok.
- Use trending songs and trending hashtags – By using the trending audio/song and trending hashtags in your video will increase your chance of appearing your video on the For You page.
- Jump on the Latest Trends – Your niche should meet the interests of the people. Browse before selecting your niche and try to make something uniquely creative. As the audience increases, TikTok trends move quickly though, so make sure you are up to date.
- Engage with other creators – Engage with other influencers and creators so that you can appear in front of a wider audience and gain more recognition.
- Involved in TikTok Challenges – Keep participating in the TikTok Challenges started by other creators or by starting your own challenge will give you a chance for your audience to reach out.
- Create Quality Content – The Most important one of course. People love quality and engaging content. So try to make the content interesting has great quality and is shareable.
Make Money by Creating Sponsored Content
Another way to make money on TikTok is by creating sponsored posts. As an influencer or content creator, you can make partnerships with a brand and make content for them.
According to this study by Tomoson, the Average dollars spent on influencers for marketing brands yield an average of $6.50. With the top, 13% surveyed reported a yield of $20.
According to marketers, the customers gained through influencers have high quality than gaining customers through other ways like organic search or email marketing.
If you are a user from the US then you can join the TikTok marketplace for finding the right influencer for you. This marketplace gives chance for the brands to connect to the influencers out there for their marketing.
Building trust by engaging with your audience will have an impact on the engagement and reach of your sponsored content.
Make Money on TikTok From Ads
TikTok ads are a very good opportunity for businesses to widen their reach to their customers.
You can earn a handsome amount of money for TikTok for Business by using in-feed video ads, branded hashtags, and branded effects to capture the attention of your customers and make good ad revenues.
Sell Merchandise Via Platform
After Gaining popularity and fans through social media, the influencers have great opportunities by selling merchandise.
TikTok provides you with the opportunity for influencers to use the platform and sell different products. You can sell artistic works, T-shirts, clothing lines, etc. Nowadays many influencers create NFTs of their work like videos or some artwork and sell it online.
Making money on social media isn’t an easy job. It requires time and consistency. If you are consistent in your work you will be succeeded.
If you lose or get shut down by an influencer or brand, Don’t give up! You’ll be rewarded for your hard work sooner or later – Literally.