How to make money on TikTok?
It was only recently that TikTok announced crossing the 1 billion monthly active user milestone. Though the number is still much lower than the social media giants like Facebook, Instagram, and Twitter, it has still experienced a substantial 45% growth in the past year. But the question that often comes up is – do people make money on TikTok?
Despite the presence of multiple successful social media channels, TikTok gained immense popularity with its light, short-form content. This also means that the platform has a great potential to bring in revenue for TikTokers as people often wonder how much money can you make on TikTok. To answer this question, here’s an interesting stat for you. 37% of the TikTok users in the US earn $100,000 or more per year.
But, can you make money on TikTok when there are so many marketers already populating the platform. Another way to do this is by making your own short video app like TikTok and start earning money from it. Though it may sound a little surreal, you can easily create an app like TikTok with no code app builder Appy Pie in minutes. And once you have created your app, you can make money from your app too!
How to make money on TikTok?
The short-form video platform, TikTok is known for its creative campaigns and trends that present great earning opportunities, e.g. #TikTokMadeMeBuyIt and devoted subcultures like #BookTok. Brands are leveraging unique ways to position and sell their products or services directly to their TikTok followers.
As a TikTok user you can do the same by creating short, helpful, and engaging videos that are relevant to your audience.
Ahead in the blog, I have broken it down into 5 simple and actionable strategies to answer the question – how do you make money on TikTok?.
TikTok Creator Fund
TikTok has a Creator Fund which is basically a certain amount of money that is distributed among all the people who have joined the creator fund. As a TikTok user, once you have acquired at least 10,000 followers and have garnered at least 100,000 video views in the previous 30 days, apart from being over 18, and a few other qualifying factors. It is an oft asked question, how much money do TikTokers make from the Creator Fund depends on a number of factors like video views, video engagement while making sure that the video adheres to Community Guidelines and Terms of Service.
Sell your products and merchandise
If you have been wondering how do people make money on TikTok, TikTok Shop may be a critical response to it. In 2021, TikTok introduced TikTok shopping to give the brands and entrepreneurs a legit platform to sell their products directly through TikTok. Your business profile on TikTok bow has a separate shopping tab that has all the products from your Shopify catalog. Of course, you can still sell the old fashioned way where you talk about your products, post pictures and add links for your followers to click and buy. Apart from having your own TikTok shop, you should make sure that you promote it organically through your content.
Run TikTok ads
Since around 43% of the TikTok users are in the age group of 18 to 24, the platform is perfect for the marketers who want to target GenZ. TikTok Ads has simple yet effective tools that let you run your ads for millions of people. Though the ad formats are different for different regions, they are great when it comes to targeting based on multiple criteria including age, location, interests, etc. You can use single or multiple ad formats, but the most popular formats include in-feed video, brand takeover, and hashtag challenges.
Join affiliate programs
TikTok content creators and businesses can join various affiliate programs to market and sell other companies’ merchandise for a commission. Before joining any affiliate program, consider whether the products and the company values are aligned with your target audience. Make videos to engage your audience while telling them about the product, its benefits, and why you like using it. If you are getting into the affiliate programs, it is a good idea to make sure that you genuinely like their products and trust their brand. You can track the purchases made through your influence by using a special affiliate code or link.
Create sponsored content
As your TikTok following grows, you will gradually start receiving requests from brands to create content about their products and services and you get compensated for the content you create. In fact, you can also approach brands with an offer to showcase their products. Start with smaller brands, before moving on to bigger things. Try speaking with the local businesses and find out if they are interested in getting featured on TikTok. To begin with, make sure that you charge the minimum, and gradually as your following grows, you can increase your charges.
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