TikTok is now one of the biggest social media platforms with millions of users. To many, TikTok is just a social media platform where people post videos for admirations, likes and comments sake. However, many people have come to realize that a platform like TikTok has grown in popularity and number of users and therefore can be used to create relevant content, advertise, promote businesses among others, to make money.
With this observation, I have taken time to find out how people are using TikTok to make money, rather than posting videos to merely invite likes and comments.
This article will therefore highlight on top 4 ways to make money on Tiktok.
1. GOING LIVE
Going live is the first way to make money on TikTok once you have about a 1000 followers. Don’t just make videos and post them for likes and comments or admirations. Frequently go live on TikTok and creatively do or say something fun or educative.
When you do this, your active followers donate gifts in the form of emojis. Each emoji has its coins equivalence. The coins received from these donations can be converted into money. The amount of a coin in US dollars differs from country to country. But, basically 200 coins make $1.
Imagine having 10,000 coins? The more you serve your viewers with something to cheer about, the more you receive these donations hence increasing your money. This money can be withdrawn through your Paypal account or Payoneer account.
One advantage of going live is, you get new followers because your live video can be seen by other TikTok users who are not following you at that moment.
Frequently do “how-to videos“. “How-to videos” are tutorial videos on how to do certain things. On your TikTok live, you can educate your viewers on how to cook certain dishes, how to make money online, how to do make-up, how to dress for occasions etc, How-to videos are normally educative.
Also, if you are good at comedy or can creatively do something to get people laughing, this is a good place for you. As you educate or put smiles on people’s face, they reward you with items in the form of coins, and these coins can be converted in to money.
2. AFFILIATE MARKETING
Another way to utilize TikTok to make money is by affiliate marketing. Affiliate marketing simply means promoting others products so that when someone buys any of those products, you get a commission from that sale. Yes! As a TiktTok user, you have access to thousands of followers or more. You can actually make money with those huge number of followers- don’t just be proud of the numerous numbers following your account for nothing.
You can make deals with brands or individuals who would like their products to reach the multitude. Advertise and recommend the products to your viewers and convince them to try them out. Once they start buying and trying them out, you also receive commissions. It’s simple as that. Let’s say you have about 3000 followers on TikTok, a product you are affiliating goes for let’s say $10, your commission in the affiliate deal is $2 per sale, and 100 followers make a purchase, you make $200. It’s not bad for just promoting someone’s items through your videos, whereas your normal videos fetch you no money .
Start your TikTok affiliate marketing journey by using affiliate marketing platforms such as Clickbank,Digistore24 and Amazon Associates. These platforms have variety of products that you can affiliate.
You keep on making more once you have more affiliate products you are promoting and increasing your followers to get more potential buyers.
3. MAKING BRAND DEALS
There are tons of brands that need their products to reach thousands of people per day to keep on making money. However, not all brands solely depend on TV or radio advertisements. Some leverage on social media to reach a million more people. One of these fast growing social media platforms is TikTok. Once you are a TikTok user, you can take advantage of these companies who might want to use social media to promote their products. First, let’s see how this can be done.
How to make money with Brand deals
• Choose a desired brand. It could be fashion brand, a cosmetic brand, real estate deals, bottled water company or any other lucrative brand.
• Make free TikTok videos, telling your followers of that particular brand. Depending on the brand, you can talk about the benefits of their products, how to use them, when to use them etc.
• Get a lot of people watching the video and making engagements (comments, likes, shares etc). For example, if you want to work with a cosmetic brand like Nivea or Dove, make videos of their products and give tutorials of how to use them and achieve the best results and even where to get them on bulk purchase. Make those videos get massive views and engagements.
• After making a couple of videos of that brand and getting a number of views and engagements, continue to make yourself known to the brand. You can send them an Email, give them a call or even go to them personally (if they are reachable).
Also, top brands normally have their information on Linkedin. Log on to Linkedin.com and type in the brand’s name in the search bar to get information on the brand, including their contact or anything that can lead you to the brand CEO or marketing directors.
• 5. Tell them you made a video on their product(s) for free and got 3k views, 5k views, a million views and got massive likes, comments etc .That company is going to pay you huge sums of money for promoting their brand. They can make a deal with you to pay you per video you make for them. Plus, who knows? You can even be employed there or made their marketing or advertising agent.
GOOD NEWS, TikTok has a special website to help make brand deals easy for the content creators and the brands. This website is called creator marketplace. Check out this website using the link creatormarketplace.tiktok.com and create an account. This is a special website where brands look for content creators so they can work with each other.
To be able to take part of the creator marketplace and for your profile to be there, you have to be invited by TikTok which will show in your notification. Also, you got to have about 2000 followers to qualify to use this website. Use the creator marketplace website as an alternative to the normal way of making money on TikTok with brand deals (as shown earlier), if your account does not meet the program policies. Below is a picture of the TikTok creator marketplace homepage.
THE KEY THING HERE is to establish yourself to be an asset to that particular brand. Let the brand see how relevant you are to their development. Because, a brand is only going to work with you if they are sure they will make a return on their investment in you. Before a brand pays you $100, they want to be sure if they can make a $1000 more dollars through you.
To really establish yourself to the brand, sign up in canva.com to create flyers, infographics or logo of the brand you are promoting in order to have that official look. This makes your viewers and the brand take you very serious and reward your hardwork.
Need other new ways to make money online?, read on my 4 legit WAYS to make money online(with step-by-step guide.
4. TIKTOK CREATOR FUND
Another way to make money on TikTok is by benefiting from the TikTok Creator Fund. This is a program that TikTok introduced in 2021 in a bid to compensate content creators for creating content on the platform.
TikTok has set aside $230M for content creators on Tiktok in order support them. This amount was later increased to $1Billion which can be paid out to the content creators. However, in order to get paid as a content creator on Tiktok, you must have at least 10,000 followers. Plus, you must have about 10,000 video views in a month. Also, you should be at least 18 years old.
Once you are accepted into this program, you get paid every day based on the number of views. According to the TikTok creator fund program policy, you get paid an amount of $0.04 per 1000 views. Obviously, this doesn’t look like a lot of money but with consistency, this money piles up and becomes something worth taking home.
This should remind you to grow your tiktok account to get more followers to increase your number of views per video. Don’t forget you are not the only content creator on Tiktok, so don’t expect all that money to be pushed to only you. What about the others? Basically, you all get a piece of the pie based on your hardwork.
These are basically some ways you can turn TikTok from just a fun app to a money making platform. To make more money, it’s advisable not to depend on only one method. If you love money, which of course you do, try combining a couple of these methods . However, if you have tight daily schedules, pick one out and master it. Remember that, consistency and seriousness play a major part in being successful in anything you do.