Best ways to make money on Tiktok
TikTok has been one of the most used social media platforms since 2020. With over 1 billion active users, it comes with many money-making opportunities.
Some people have turned TikTok from an entertainment platform to a money-making platform. People are treating this as a business on a part-time basis, and some even are working full-time on TikTok.
TikTok has enabled a lot of influencers to make a fortune in their lifetime, and some even earn a Six figured sum monthly. With giant active users, TikTok has opened doors of financial freedom for many.
We have conducted many surveys and conversations with successful TikTok influencers who say it is possible to make a fortune out of TikTok. Today, we will focus on some of the best ways to make money from TikTok. Let’s entertain people and mint money.
How much money do TikTokers make?
How much money is being made from TikTok depends on how you bring your creativity and strategies to use the application. People have made insane money out of TikTok, that is for sure.
We will look into the top 5 TikTokers with the highest per post earnings,
- Charli D’Amelio – $ 105,770 Per Post & $ 20 Million Net Worth
- Dixie D’Amelio – $ 42,567 Per Post & $10 Million Net Worth
- Khaby Lame – $ 92,270 Per Post & $ 5 Million Net Worth
- Addison Rae – $ 65,194 Per Post & $ 15 Million Net Worth
- Bella Poarch – $ 66,829 Per Post & $ 5 Million Net Worth
There are many ways to make money on TikTok, but we will focus on the top 5 ways to make money.
1. Sponsorship and Advertisement
One of the most favorite ways to make money on TikTok is the sponsorship and advertisement of the products. Creators and celebrities with a good following have made insane money from sponsorships. Earning opportunity is limitless, and you can earn a consistent passive income.
You can use this method if you have a good number of followers, say 10000, with a reasonable engagement rate. According to a survey, TikTok’s influencer marketing has risen from 16% to 68% from 2019 to2021, which is a massive change in the trend.
Brands will reach out to sponsor their products if you have a good number of followers, like over 10000 or 15000, and you have a good engagement. Brands can contract with you for a short-term partnership for posting a single video or even a long-term collaboration for multiple posts. Brands use your following to promote their products, thereby increasing sales.
You have to create a video describing the products along with the benefits of it over the others existing in the market. You should mention the branded content in terms of hashtags too.
The sponsorship depends upon the content you are creating on TikTok. The brands which can co-relate their products with your content will contact you. If you are making videos of a workout, then there will be a higher chance that the gym franchise, supplementary brands, health brands, lifestyle, etc., will contact you.
Talking about payment can be done in multiple ways. Some brands might give you a free subscription to their product or service; some might offer you a range of complimentary products. The sponsorship can also turn into a cash transaction if you have a good engagement on TikTok. Remember, the more the engagement, the more will be your power to negotiate the deal.
Even if you have a small number of followers, you can find new and unpopular brands, shortlist a few of them and initiate the talks. New brands constantly look for ways to promote their products, and you could be the one. It would help if you looked for brands that can correlate their product with your videos and content.
Ensure you don’t flood your TikTok account with sponsored videos; it will lead to unfollowing your account.
2. Collaboration with Influencers
Collaborating with influencers has given proven results for an increase in sales and followers too. This will be fruitful if you want to increase your presence on TikTok. While using this method, look for influencers or creators whose content is similar to yours. You are looking for someone who will promote your business and help you grow.
You will have to put in a lot of effort to find the influencer and collaborate with them. In this method, you have to discover the influencers with similar content and ideology but with more followers than yours. Reach out to them by email or direct message. Influencers who are collaborative do mention their contact information in their bio.
You can also explore the influencers over the influencer marketing programs.
Once you have decided to collaborate with an influencer, remember to be collaborative and be ready to make a deal on some terms and conditions.
You might wonder, How will collaboration benefit you?
Influencers do have a large pool of followers. Collaboration with an influencer brings a new group of sizeable audiences. Making a video with an influencer indirectly promotes you to that audience. Collaboration helps to increase credibility and trust, as you and your business get directly endorsed by the influencer with more followers. This indeed boosts your business and increases the number of followers.
Influencer marketing has become more prevalent in social media platforms today. The results after the collaboration have shown some extraordinary results recently.
3. Affiliate Links
Affiliate marketing can open the doors of passive income and financial freedom. Affiliate marketing is one of the most popular methods of making money worldwide. This particular method is used all over social media platforms.
In affiliate links, you promote the product links of the other businesses in your content. You have to create videos that showcase the affiliate products. Always remember to promote affiliate links of the brands and products you trust.
Affiliating can give you a decent income if you have a good engagement. It doesn’t matter how much audience you have; what matters the most is how is engagement rate is going on your Instagram account. You can even start with 2000-3000 followers; you must ensure your post engagement rate is excellent.
You have to do extensive research looking for some high-paying affiliate programs. Affiliate marketing is quite popular these days, so finding such affiliate programs won’t be a problem.
Now, you might want to know, how will I make money from this? It is pretty simple if a follower buys through the affiliate link you provided, you will earn a commission from the brand.
There is a catch in this, and you will love affiliate links. Even if the person does not buy the product, you are affiliated but busy with the other one from the same website within the stipulated; then also you are liable to get the commission. This is the reason, affiliate programs have become popular.
If you want to generate high commissions in a short duration, you can use the affiliate links when the brands and eCommerce are offering flash sales such as Black Friday Sale or New Year Sale. Always look for the products which are going to solve day to day problems of the people; this will show better results.
4. Sell your products and services
TikTok has a massive number of active users, above a billion. Like other social media platforms, TikTok is used to promote your products and services. You can effortlessly direct the TikTok traffic to your website, blog, or domain. You can create an e-commerce website or store and direct all your TikTok traffic there.
This method has shown excellent results and increased the sales.
Nowadays, it is even possible to set up your TikTok store. Last year, TikTok tied up with Shopify to start a TikTok store where you can directly sell your products on TikTok. You can promote your products in videos and showcase tabs too. This method is beneficial even if you have less number of followers.
It is recommended to start with awareness videos of your products. Awareness will lead to more followers and sales.
5. TikTok Creator Fund
TikTok Creator Fund helps the creator to make money directly from TikTok. TikTok launched the TikTok Creator Fund with $200 Million back in 2020. The TikTok Creator Fund will be increased to $ 1 Billion by 2023.
TikTok Creator Fund was introduced to compete with Instagram and its Live Badges. The purpose was to strengthen the TikTok creators and community. Also, appreciate the efforts that creators put in.
TikTok has set the eligibility criteria to apply for TikTok Creator Fund, which is as follows;
- At least 10,000 followers
- At least 100,000 video views in the span of the last 30 days
- Age must be 18 years or above
- Must be located in the USA, UK, Germany, France, Italy, or Spain
TikTok does not reveal the payout strategy used in TikTok Creator Fund. It depends on the creator’s content, followers, and engagement rate. But many creators have explained how much money they get from it and thumb rules for it.
On average, TikTok pays $2 to $4 per 100k views, which comes to $20 to $40 per million views. The figures might discourage you but remember this is a bonus or freebee paid by TikTok. Make the content consistently, and you will surely hit a million views.
Social Media is a platform in the 21st century to make a life or to waste a life. It provides a wide range of opportunities to make money out of it. Remember, consistency is the key here. If you are consistent, you will be rewarded for sure. Don’t waste another minute and start making money on TikTok.
In this article, we learned about the top 5 ways we can use and make money on TikTok in 2022, which includes collaborations, Affiliate links, creators’ funds, Selling your products or services, and at last but not least, sponsorships and advertisements.