In the past two decades, social media has become a successful career path for many. Due to the financial uncertainty that came with the pandemic, there’s been an increase in attempts to make it in the influencer industry.
In the beginning, aspiring social influencers built their empires on YouTube, Vine, and Instagram. The launch of TikTok, however, changed the game completely. With almost a billion active users a month, TikTok’s rise to fame has not been matched. This raises the question: can you earn money on TikTok?
Table of Contents
- 1 How do TikTokers Make Money?
- 2 Setting Up Your TikTok Profile the Right Way
- 3 How to Monetize TikTok Once You Reach Popularity
- 4 Other Ways to Make Money on TikTok
- 5 Bottom Line
- 6 FAQ
How do TikTokers Make Money?
To answer the previous question shortly, yes, you can. This platform gives users the power to go viral just by sharing their own 60-second take on a current trend. In other words, becoming an internet sensation has never been easier. And by going viral, you open yourself up to the possibility of making seven figures a year.
Just like with other social media, you can easily monetize TikTok. There are tons of deep-pocketed brands that see TikTok creators as the perfect way to push their product. Established creators on the app are known to make six figures for a single post. Though a good portion of the app’s users are already well-known on other platforms, there’s still room for you to make money on TikTok.
Don’t forget, this is one of the best passive income ideas you can start today.
Setting Up Your TikTok Profile the Right Way
In order to generate revenue on TikTok, you need a popular account to make money from. Since your profile page is essentially your brand, we need to make sure that it’s perfect. The first step is to choose a catchy and memorable username. The ideal scenario regarding the username is that you use it across all of your social media, making it easy for others to find you. Two essential areas to focus on are your profile photo and bio.
After all, these are the first two things visitors pay attention to. For the profile pic, you can choose a photo of yourself or a six-second clip. As for the bio, you can type in a witty gimmick that best describes you. This is also a perfect place to link your personal website or online store. You also mustn’t forget to connect your other social media, like Instagram and Twitter.
Create Your Brand
The first step in any business model is figuring out what your product will be. You need to define what kind of content you’ll create and who you’re creating it for. All of this goes towards building awareness for your brand. There are many different niches you could focus on. Are you trying to rise to fame by doing the standard 60-second skits and providing top-notch entertainment? Or maybe you want to create educational content more specific to a certain niche, like astrology or science. You can even provide cool ways to budget meals for large families or list money saving-tips.
Focus on The Trends
How do TikTokers make money? By staying up-to-date with all the latest trends on the platform. This is key for anyone who wants to generate revenue from the platform. A simple scroll through the TikTok ‘For You Page’ will let you know what trend is the hottest at the moment. This way, you get a clear overview of what kind of content performs the best. Plus, you can learn about all the different strategies other TikTokers use to push their videos and then implement them.
Staying updated on the trends is only the first half of this step. Once you hop on a trend, you need to make sure to stick with it and take full advantage of it. This entails creating as much original and entertaining content as you possibly can. Lucky for you, the platform is buzzing with millions of people, and there are always multiple trends going on at the same time.
Lastly, don’t beat the trend like a dead horse. Always keep an eye out for the imminent death of the trend and the rise of a new one. Though the idea of constantly keeping up to date might seem stressful, especially since trends change overnight, it pays off big time!
Stick to Content Relevant to TikTok
This one goes hand-in-hand with the previous step. The thing about TikTok is that it plays to the short attention span of its users. You scroll through short clips that range between 15 and 60 seconds, ensuring for some kind of entertainment. So, make sure to create videos that are quick, concise, and easy to follow. Many users have proven to react poorly to videos that take too long to get to the point or are straight-up clickbait.
As for what does best on the platform, we listed a few trends that have been going on for over a year:
· Lip sync videos
· TikTok dances
· Fashion and beauty tips
· Short storytimes and rants
When do you make money on TikTok? Once you built up a substantial audience, of course! So, once you start producing your content, the next step entails pushing it to the masses. If you implemented the steps above correctly, you should already have formed a small audience. At this point, you want to analyze your followers and what kind of content they respond well to. Then, make sure to put out as many quality videos as you can. This means at least three to four clips a day.
When you’re trying to gain TikTok followers, you should do what you would at any other social media. This entails using related hashtags and encouraging more people who come across a video on their ‘FYP’ to interact with your video. The more interaction (likes and comments) your post has, the higher you rise on the platform is.
Of course, we can’t forget about networking! This is probably the most efficient way to go about building any kind of platform. There are tons of creators that are trying to build an audience just like you. So, do your best to reach out to other people on the app and collaborate with them!
Talent isn’t the only thing you need to become famous on TikTok. You also need a good strategy, dedication, and patience.
How to Monetize TikTok Once You Reach Popularity
Once you build an audience for yourself, the question is, how do you make money on TikTok. Lucky for you, ProMoneySavings comes prepared with a plethora of options for you. Check out these ways that are sure to let you profit from the platform.
We’re sure that all of you are already familiar with the concept of influencer marketing. Shortly put, brands and companies hire well-established influencers to promote their product. This is one of the primary ways of income for TikTokers.
The app launched the TikTok Creative Marketplace, which is the official platform for brand and creator collaborations. Brands can find prospective creators based on topic, engagements, average view, country, or reach. TikTok acts as the middle man between the company and the influencer by setting up meetings and managing campaigns. In other words, it’s quite literally an influencer marketing agency.
For instance, Red Bull collaborates with a bunch of TikTokers that are famous for their dancing videos. The brand creates its own dance challenges, for which it even has dedicated accounts. Another example can be made from Fenty Beauty. The makeup brand gathered a myriad of top TikTokers to promote the unveiling of its new mascara line.
Sponsored Content Posts
This one is similar to influencer marketing. Basically, companies will reach out to you to use and promote their product in your videos. Most of the time, they have a planned script on how they want you to implement the product in your content.
In other cases, some influencers even get hired to run the company’s official TikTok profile. You’ll be posting content that’s relevant to both the brand and to the current trends. Of course, for this to happen to you, you’ll need stellar engagement and a substantial number of followers. So, make sure to follow the steps we left for you above.
Another popular way how do TikTokers make money? By making and selling their own merch! It’s a sure way to bring you in some income and doesn’t require you to be huge on the platform. Even with 200 followers, you’ll still have someone to purchase your items.
This can be anything from a hat with your logo on it to graphic t-shirts and cool backpacks. Your best bet is to find out what your audience wants at the moment. For instance, since the pandemic started, face masks became an essential part of our lives. Hence, many TikTokers made custom masks and added them to their merch lines.
Alternatively, if your profile is specific to a certain niche, this brings a lot more opportunities your way. For instance, if you post beauty-related content, you could create a makeup or skincare product. If your TikTok revolves around cooking, this is the perfect opportunity to write a cookbook.
Once you create your merch line, do everything in your power to push it as much as you can. If you have a clothing line, for example, make sure to wear it in every video you post. Another great idea is to make the last three seconds of your video advertising your items. Don’t forget to send PR packages to other fellow creators, too.
Expand Your Artistic Career
The good thing about social media is that it can always lead to something bigger. In other words, it’s the perfect gateway into the mainstream entertainment industry. TikTok’s most popular creators have all branched off into different fields, like music, acting, or modeling. So, make sure to use this to your advantage.
Are you an aspiring musician? Focus on creating music-related content. You can do this by making short covers in your videos, performing original pieces, filming album reviews, etc. Do you want to grow your YouTube channel? Mention it in your videos and do your best to transfer your audience to that platform.
Of course, TikTok shouldn’t be the only place you post your art. If you’re serious about expanding your artistic career, you need social media profiles – Instagram, YouTube, Snapchat, Twitter, and Patreon. Don’t forget to interlink all your accounts, so people can find you easily!
There isn’t a single way to make money on TikTok. If you’re persistent, you can create multiple revenue sources for your TikTok channel.
Other Ways to Make Money on TikTok
If creating content isn’t your thing, or you feel burned out, there are still many ways to make money on TikTok! Ranging from offering your consultation and management services to selling your account, we’ve got it all covered! Scroll down to learn more!
Become A TikTok Consultant
You know what they say – those who can’t do, teach! The same goes for TikTokers. If you aren’t keen on creating content, perhaps helping others out will do the trick for you. The app has been popular for over two years now, and there are plenty of users looking for specialized consultants. Essentially, you’ll be helping these creators build their brand, gain more followers, and merely perfecting their strategies. This is one of the best side hustles you can start to make extra cash.
Growing and Selling Popular Accounts
Another popular method for turning a profit from TikTok is selling established accounts. Basically, you’d have to create a profile and build it from the ground up. Once the account reaches a few thousand followers, you can easily sell it to eager brands. There are tons of companies aware of the marketing potential behind TikTok. Thus, they’re on the hunt for already-prominent accounts to make their own and promote their products.
If you plan on doing this, your best bet is to make the account specific to a certain niche. This way, you have a clear vision of what kinds of companies would buy it, making it much easier.
Donations from Your Followers
If you’ve spent some time on TikTok, you’ve probably come across multiple live streams. Well, live streams are a perfect way to make some money since TikTok allows viewers to donate to you.
Users can purchase a bundle of ‘coins’ from their profiles, which are essentially loyalty points. The price of these bundles ranges between $1 and $100. If you’re attending a live stream, you get the option to send the creator some of your coins as a show of gratitude. How do TikTokers make money off of this? Well, the creator can change the bundle of coins into diamonds. Later, the diamonds can be converted into actual cash through PayPal.
Now, there’s no need to worry about coming off rude or arrogant for asking for donations. Usually, your viewers send you coins willingly as a way to thank you for all the entertainment you provide them with.
Offer Management Services
Not satisfied with any of our ‘how do you make money on TikTok’ suggestions yet? Maybe our last one will win you over!
Management services are always welcome, especially in something as time-consuming as the entertainment industry. By becoming a TikToker’s manager, you’ll basically coordinate all of the creators’ endeavors. This entails you becoming the broker between the TikToker and the brand they’re getting sponsored by. Your job is to make sure both parties meet all the requirements. Other than that, you can help your client out with organizing their content schedule, brainstorming marketing strategies, etc.
We already mentioned the TikTok Creative Marketplace. So, you’re probably wondering why someone would hire you when they can go straight to the app’s team. Well, the creator will have to pay TikTok a substantial fee for these services. That’s why you, as a third-party manager, are a perfect choice. Your fees will surely be lower than TikTok’s, so you’ll be saving the creator a bit of cash. In turn, they’ll get all your services.
Alas, we’ve arrived at the end of our journey. If your question before you clicked this article was can you make money on tiktok, we hope you found your answer.
All in all, TikTok is definitely a game-changer within the social media industry. As one of the fastest-growing platforms in the world ever, the possibilities of making cash are never-ending. Like you read throughout our article, there isn’t one key to becoming rich through the platform. Instead, there are numerous ways you can go about it if you want to make money on TikTok. Whether through your own merch line, making a viral video, or becoming a content manager – that’s up to you!
So, don’t waste any more time! Create your TikTok profile today and see if you have what it takes to become the next viral sensation!
How many likes do you need on TikTok to get paid?
There’s no minimum limit for likes on your videos to make you money. Sure, brands love influencers with higher engagement. However, what good is it if your post has 20,000 likes, but you only have 20 followers or vice versa?
Do you get paid if you are famous on TikTok?
If your question is, can you earn money on TikTok, the short answer is, yes, you can. However, we have to make it clear that TikTok itself doesn’t pay you. You’ll make your earnings by collaborating with brands, becoming their spokesperson, etc.
How to make money on TikTok by watching videos?
Unfortunately, there isn’t a way to earn profit by watching videos on TikTok yet. However, you can make money on the app by posting your original content or following any of the steps we listed above.
How many followers do you need to make money on TikTok?
Just like with the likes, there isn’t a magic number of followers you have to hit in order to make money on TikTok. Though brands are more attracted to accounts with larger audiences, it’s not the most crucial factor. It’s vital that you have a true influence over your followers. In other words, you can make them get up and buy whatever you’re promoting. Yet, we have to mention that accounts that exceed 500,000 followers have the highest engagement and, therefore, profit.