TikTok has been a part of all the people who work hard for marketing and business purposes. Not only for the marketers, but it also serves a big deal; more people love the way it lays for entertainment motives. It started as a fun application and is now used by all ages worldwide, and most love TikTok for its elegance. Here, the scenario is about a 15 to one-minute video that covers everyone’s attention.
Initially, Zhang Yiming, a software engineer from China, found this application(Parent company, ByteDance) and rebranded it as Doyin in December 2016.
Creating TikTok content is no longer a joke because the U.S. has received about $1 billion in funding, which says, now you can make money on TikTok. And this article is solely about having the techniques involved in monetization.
Let’s begin!
#1 Receive Donations Via Live-streams
The first method we are about to discuss is earning money through the live stream. Sounds cool! Isn’t it? Yes, the first thing you have to do is go Live and collect donations from the followers/viewers. It isn’t weird how to make money just by going live because it’s the way the Twitch app also works, where your fans donate cash to the live streams.
There is a little thing to consider before going Live; first, you must have followers of 1000. Secondly, you must be 16 or more than 16 years of age. And, mainly, you need not worry about making followers in TikTok because it’s a vast platform, and it’s elementary to handle it with the right content. If you are 18 years or above 18, you have chances of earning gift points on Live.
Are you a creator looking for more exposure in this massive community of people? Yes, you are in the right place; Use the Live option to get more views on TikTok and prove your existence to make your presence worthier in this field of players. Even turning on Live gifting can bring you rewards through PayPal (a kind of award).
#2 Multiply And Sell TikTok Accounts
Do you know that flipping over social media accounts is not a newer way to make money? It is a common thing used on other social media sites like Instagram, YouTube, Twitter, and Snapchat. First of all, grow a specific TikTok account by getting more TikTok followers and engagement for the profile. Later, reach out to the brands that needed that particular niche profile and sell them.
It works better when you build an account around a specific theme, and it would be helpful for the brands who struggle hard to grow their profile. Brands or individuals who seek niche profiles don’t hesitate to grab the profile account, which has good engagement. On the other hand, you can build a website to advertise the profiles for sale or sell them by third-party marketplaces.
Consider an example, when you build a profile based on fashion-niche, the brands which relate to this theme might buy it. It is better to advertise such niche profiles rather than on generic profiles(regular dances and skits). To make it easier, some advertise the profiles, which have a good engagement in TikTok.
#3 Sell Out Your Products On TikTok
The best idea to generate revenue on your TikTok channel is by selling merchandise on your platform. And this is another self-sufficient method, which is just similar to building an influencer campaign. However, launching a product on this broader platform is a good idea because you can find more Gen Z and millennials, who have the buying power of around $150 billion(the U.S. alone).
First, give exposure to your products in front of as many people as you can(to increase viewers), which can be quickly done through TikTok’s hashtag challenge. However, this method can bring a taste of the user-generated content, which includes an audience prompt to share the content featuring your product.
TikTok has a landing page (related to shopping) for potential buyers, where they get directed to when they click on the hashtag. Here, you can notice that the hashtag will also appear on TikTok’s discover page, which brings more traction.
#4 Associate With Brands And Sponsors
An actual method takes place on every social media site, and TikTok also doesn’t have excuses regarding this. Because of its popularity, brands are willing to pay more for the creators who help promote their products. Most brands get in touch with the viral TikTok creators through their agents.
The way to earn money directly from advertisers is through the creator marketplace that is famous in TikTok. It is considered an official collaboration platform for brands and creators, where innovative content creators partner with brands for paid campaigns. And by doing so, a severe amount of awareness is created along with the customer’s attention.
Before collaborating with brands, you must look through some eligibility criteria, i.e., age, video content, engagement, and followers count. Some are curious to know how much a creator gets paid, and there’s no perfect prediction on the potential earnings, but famous creators earn up to $500 to $20,000 per video.
#5 Get Payments Via Creator’s Fund
TikTok’s creator fund is the helping hand for creators who create innovative content on TikTok. And it is the latest move of TikTok to establish the effectiveness of the user-generated-contents. Like other social media, TikTok doesn’t rely on the advertising model; but with replacement, your fund amount grows along with your channel(Profile account).
The essential requirement to join the creator fund program and are as follows:
- Age of 18 and more than that is to be considered the first guideline.
- Must have a minimum of 10k followers on TikTok.
- Video views of 100k(at least) for a specific video in the last 30 days.
- Fits – U.S., UK, Germany, Italy, France, and Spain.
- Post original content that obeys TikTok’s guidelines.
Do you know that a pro-account can fix all the issues in the specified time and to switch to a professional account, follow the basic steps?
- Go on to the account settings and tap on the “Pro Account.” option.
- For the following, click the option “TikTok Creator Fund.”
#6 Launch Own Music On TikTok
If you are looking to contribute anything to TikTok or showcase your talent to the talent agency, TikTok is the best solution. As everyone knows that the number of people in TikTok is high, you can choose this field to gain immense fame and recognition. Have you heard about the social media personality Addison Rae? Who took credits for more success stories on TikTok.
Same as Addison Rae, you can launch any career on TikTok, from dancing to comedic scenarios and more. And when you post something interesting, there are some possibilities that some producers will see your contribution, which can help modify your life. Remember, it’s not true that only getting scouted by the agency could bring you money; you can get famous on TikTok and earn on your own.
Last Words
TikTok is the best social platform for easier reach nowadays. If you are looking forward to establishing your identity with the world, it is the best option to shine through.
The six stages, as mentioned above, will help you out to earn a serious amount on TikTok, and well, it’s possible only through some effort and consistency.