TikTok is one of the most popular social media networks, with over 1 billion monthly active users. So this is the perfect platform for monetization, and it has become famous for its short-form nature. TikTok popularity means that it gives revenue opportunities to many users. Specifically, 35% of US TikTok users, yearly earn $100,000 or more.
Brands are finding authentic ways to sell their products or services on TikTok in front of wider audiences. You can do this by making engaging TikTok videos and directly asking about your audience’s interest in your products or service. Now, your question is how to make money on TikTok. This article will discuss some strategies that can help TikTok monetize.
Make Money On TikTok
You must need to meet the following list to start make money on TikTok:
- Your age should be at least 18 years
- Locality based in the US, UK, Germany, France, Italy, or Spain.
- The TikTok profile must have a minimum of 10,000 followers
- Your video must reach substantial views in the previous 30 days
- Lastly, your TikTok profile must adhere to the community guidelines and terms of service.
Seven Strategies To Make Money On TikTok?
Brands are using TikTok ads to drive traffic for their e-commerce store, but the more important thing is to invest time in TikTok to make money with the TikTok creator fund. There are endless strategies to monetize on TikTok. Here are some of the strategies to maximize the likes of your TikTok posts and make money on TikTok:
Join The TikTok Creator Fund
TikTok creator fund is a program that pays users to create engaging content for the audience. Creators must have some qualifications to join the program, be a member and start getting money on TikTok. Creator fund members will receive money based on their content. If the creator’s video reaches more engagement, they will gain more TikTok pays. Creators who have a significant following can make money through the TikTok creator fund. However, they need a minimum of 100k views on your videos in the past 30 days to join the creator fund. Creator fund pays will vary for each user because it is calculated based on some factors. Such as audience size, user engagement and how often they post on TikTok.
Sell Your Products
Selling your products is best for TikTok monetization. You can create any content to sell your merchandise. TikTok is rolling out a shopping feature in 2021 to permit businesses or brands to sell products straightly via the TikTok platform. So you don’t need to send your audience elsewhere to buy your products. TikTok shopping feature offers a shopping tab in your profile, letting users view products from catalogue.
You can tag your products in your video to get users over to your e-commerce store. Additionally, you can consider buying real views for all your TikTok posts to get more and engagement. This helps to grab the attention of viewers and gain more customers for your store. Describe your product ahead of your audience through videos, but do not be over promotional content.
Collect Tips & Gifts
Live gifts are one of the best features for creators to monetize through live streaming.
Unlike other social media networks’ live stream feature, TikTok is unique for going live; it allows viewers to send virtual gifts like coins when streaming time. Gifts can be redeemed for diamonds and digital currency. Remember that you need 1000+ followers on your TikTok profile to go live stream and your age 18 & above to earn gifts. Make a fantastic live stream to attract a huge audience and get appreciation from them as coins. To build a strong relationship with your followers is by doing live, which makes them engage with you in real-time.
Here are some of the tips to go live on TikTok:
- Pick the perfect time
- Keep live longer
- Post short videos at the time of livestream
- Add TikTok hashtags
- Technical aspects (Internet connection) are crucial when going live
Use Creator Marketplace
One of the best ways to earn money on TikTok is through the creator marketplace. It is where creators sell their content and partner with brands. Also, it is the best opportunity for both creators and brands. Creator marketplace helps brands connect with the perfect influencers for their niche. So it is a win-win situation for both users on TikTok. This platform allows creators to make valuable sponsored content. Creator marketplace acts like an agency to get willingness from both sides and encourage influencer marketing on this platform.
Collect Tips Or Donations
Crowdfunding is one of the easily accessible avenues for earning money. Suppose you put a lot of time and effort into creating content for your TikTok fans. There is no pressure for them to give back something using crowdfunding to secure your income. Crowdfunding will be in various formats based on what type of funds you are looking for your specific projects. If you have a specific project, then crowdfunding is not a promising avenue for you to make funds. In this situation, consider using a tipping platform to get donations quickly. Tipping platforms are a fast and easy way to collect personal finance options. But this option is only available for fans, who can donate any amount they wish at any time.
Start A Patreon
A Patreon account is a subscription-based platform that can help creators to generate revenue from their fans through membership. You can use TikTok to enhance patreon membership sign-ups. Keep your subscription costs low to motivate subscribers and gain new subscribers. You can give free content through your TikTok account, but you should captivate your fans to support your Patreon account. So it is always good to be creative to entice your followers. Transparency is one of the most valuable things to success on Patreon. It will build a high level of trust with your audience about your funds.
Run TikTok Ads
TikTok gives enormous opportunities for users to work with organic marketing. However, if you are interested in spending investment to expand your content reach. Then, the TikTok ads manager can help you to create your own in-feed ads. TikTok ads will be visible on users’ “ForYouPage”, and like other TikTok videos, it will play automatically.
Make sure your paid ad videos will reach the right audience who are interested in your products. TikTok ads are a powerful tool to help advertise your content in front of wider audiences. There are various ad formats on TikTok; pick the perfect formats that will work better for your brand.
TikTok has been the fastest-growing platform in recent years because it is rolling out new features periodically on the platform. You can use TikTok features for marketing and growing your brand. Now you know everything about how to earn money on TikTok. Moreover, the platform does not pay money to creators directly to upload videos.
Instead, it offers funds for creators using the TikTok creator fund feature. You must need a minimum number of followers on TikTok to access the above monetization strategies. The above tips can give you the right path to make money on this TikTok app.