TikTok is a growing social media application with more than 800 million active users monthly in a short period. It is known for its visual platform since it is a place for sharing engaging videos among the internet world. TikTok gives you an interactive experience with your fans and followers that helps to grow you personally.
The recent report on TikTok reveals that there are 1.2 billion active users and became the fastest-growing social media network. TikTok gives you plenty of opportunities to build loyal followings to your niche. The business started to involve TikTok in its marketing plan to promote its brand on this comprehensive platform. Brands can quickly get high revenue when they use the TikTok platform in the right way.
The question of most advertisers and creators is whether they can make money on TikTok?
The truthful answer to their doubt is yes!
Like other social media networks like Instagram and YouTube, you can also earn money on TikTok. If you are searching for ways to get money on TikTok, read the following blog to get an excellent idea.
Before entering into the ideas to make money, know some essential stats and basics of TikTok to get effective results.
Important Statistics On TikTok
- TikTok is the number one app in gaining engagement. It has crossed the engagement rate in Facebook and Instagram.
- The most downloaded application on the Apple store and Google play store is TikTok. The number of downloads is more than 2 billion.
- The main reason for the TikTok sensation is that more young people are involved in this application either for entertainment or to earn money.
- The average time spent on TikTok per day is 52 minutes which is just incredible.
- The daily use rate of TikTok applications is 90% all over the world.
- TikTok is used in 155 countries, supported in 75 different languages.
- TikTok generated $500 million in revenue in the US as of 2020.
Use TikTok as the best platform to attain growth in your business or your own by knowing the following essential points:
- TikTok Creator Fund: Get certain TikTok users for creating content and earning revenue.
- TikTok Coins: It is the in-app currency given to creators.
- TikTok Pro Account: It is a special account containing additional analytics tools for businesses and creators.
- Creator Marketplace: TikTok helps brands to find content creators to combine with a sponsored content.
- Advertising Platform: After watching several videos, people will watch ads for available updates.
Come, let’s see the effective ways to make money on TikTok with engaging tips.
#1. Creator’s Marketplace
TikTok is an excellent platform for creators to find many people and brands to collaborate with them for some budget. TCM, known as TikTok Creator Marketplace, is the official platform to join with brands and creators. You can find the influencers related to your topic, reach, views, and more.
Brands get an opportunity to profile pages of creators, their demographics, and engagement rate with audiences using this strategy. When you are on this marketplace having exciting content, some brands will show interest in collaborating with you. You will get a notification immediately when this happens. Once you join with them, you can promote their product and business in different ways, such as conducting contests, giveaways, and giving reviews for their product to earn money.
#2. TikTok Fund For Creators
TikTok Creator Fund is a valuable program for content creators to earn money from TikTok directly for your content. TikTok gives you some part of the money they earn on advertising, known as the revenue-sharing model. You earn revenue from TikTok based on your engagement rate and total audiences on your page.
The only way to get money directly from TikTok is through the Creator Fund. You will be eligible for this program only if your follower count is at least more than 10,000 followers. Some will face an issue of a drop in their engagement rate after signing in. For them, they can use this opportunity to see the content quality of others and make improvements in their content to increase the engagement rate. Make your content engaging to get good revenue from TikTok.
#3. Do Affiliate Marketing
The most popular technique to earn money on all social media networks is through affiliate marketing. And, there is no doubt that TikTok is a perfect place for performing affiliate marketing. The main work of affiliates is to promote the products and services of different industries. When a TikTok user follows your link and makes a purchase using the same affiliate link, you will get a percentage of money as a commission in that sale.
Many people show interest in doing affiliate marketing because they don't require to create their own products or services. People can use the links from affiliate programs and promote them to increase sales using the specific link.
If you have a large following, it is an added advantage to increase your revenue. Affiliate marketing is an effective platform to promote products from the company you love.
#4. Getting Donations
There are several ways to earn money on TikTok. Likewise, accept donations from followers which will be a little earning on your TikTok account. But the only concern is, your follower’s count on your TikTok account should be more than 10,000. TikTok has its own currency. If the users wish to reward their favorite influencers, they can buy coins from TikTok and donate to their followers.
Make this an option and use this as an effective way only in the beginning. But your followers should not feel like donations only from their end, which will not be reliable. You have to be at the mercy of your followers and give excellent content.
#5. Sell TikTok Accounts
An exciting way to gain money on TikTok is by growing your account and selling it to people related to your niche. Normally, this technique is popular on Instagram, and now, it reached its growth on TikTok as well. The following points are required for you to sell your TikTok account.
- Select a specific and perfect goal, along with choosing a particular topic.
- Make your content around your goal and without diverting from the selected niche.
- Prepare informative and exciting content to get views on TikTok and gain a better engagement rate with specific followers.
- Once you expand your account with relevant content and some followers, you can sell your account to brands related to your industry.
The key factor in bringing out your TikTok account as attractive and engaging is by creating high-quality videos. You can earn high revenue if your account has a high engagement rate with more TikTok likes and views with large followings.
#6. Become An Influencer
Influencers find a way to earn great revenue on all social media networks, and similarly, TikTok also provides an opportunity for them to grow. You can generate more money when you become an influencer. Do you know? The most popular influencers earned millions of dollars on TikTok. When you have engaging followers, then don’t worry; you can become an influencer quickly.
Brands choose influencers only with large followings in their account. Also, people prefer micro-influencers because they have loyal followers and are cost-effective for their budget.
Here are the ways to become an influencer:
- Choose Your Niche - Select a niche suitable for your industry and start to create consistent content relating to your industry.
- Use Pro account - TikTok provides you an additional tool called pro account where you can analyze your audience’s performance and create trust with followers.
- An Engaging Profile - The main factors responsible for making your profile appealing is your profile picture and username to determine who you are and your nature of work.
- Create Viral Content - A vital tool for receiving a high engagement rate for your account is by creating engaging and high-quality content to gather loyal audiences.
- Interaction With Audiences - Create content by knowing your audience's interest and make them interact with you to build trust.
#7. Perform TikTok Ads
TikTok offers advertising tools for brands to grow their business. It is a great place to show your products and services to get loyal audiences. Get an excellent opportunity for businesses to maximize their sales conversion and achieve success with a tremendous reach.
The essential types of TikTok ads are:
- InFeed Native Ads - It is a short video form that appears in between the For You page of your user's account that is similar to ads on Instagram stories.
- Top View Ads - These types of ads appear on the mobile immediately when the user opens the application. The ad lasts up to 60 seconds.
- Brand Takeover Ads - Gain immediate attention from your target audiences using Brand takeover ads. It helps to deliver a direct message to your audience.
- Branded Effects - Use the branded stickers to add value to your content. This ad lasts on TikTok for ten days and helps to increase interaction.
The growth of TikTok is endless for brands and businesses. With a powerful marketing strategy, improve the awareness for your brand and increase the revenue for your business. Utilize the above tips to succeed on TikTok by standing out from competitors.
Achieve your goal and get good earning through TikTok!
Anne Joseph is a passionate social media writer and working at Bouxtie. She has strong strategy skills in developing and managing social media campaigns. She loves to make new connections and enjoy the opportunity to work with social media influencers. Follow her on Twitter.com.