TikTok is currently the third-largest social media platform in the world, after Facebook and Instagram. In this post, you will learn how to make money on TikTok.TikTok has more than 1 billion active users as of the moment of writing this article.
Here are the best 5 ways to make money on TikTok.
1. Become a TikTok influencer
This is one of the most common ways through which people make money on TikTok.
In this case, you will grow your TikTok account and amass a loyal and engaged follower base. Once you have a large number of followers, you can partner with brands as an influencer.
Whenever you become an influencer for a brand, you will be promoting their products or services in your TikTok videos. You will be rewarded by getting free products or being paid a certain amount of money at intervals.
Do I need millions of followers to become a TikTok influencer?
No. Here’s the thing. Most TikTok users think they need millions of followers to become an influencer. Although this is true, it’s not necessary all the time.
There are still some brands out there that prefer working with influencers that have smaller numbers of followers. Generally, micro-influencers have between 5,000 to 50,000 loyal and engaging followers.
If you want to make money on TikTok by being an influencer, you should pick a category and have a consistent theme or topic for all your posts. For example, fashion.
If you create fashion videos on tips, recent happenings, jokes and memes, etc, fashion and clothing brands will easily spot you as a good match for the products and services that they offer.
And they will come to you with an offer you’ll most probably like.
2. Grow and sell TikTok accounts
This is not new to most people, as it’s also common on Facebook, Instagram and the like. Many individuals and brands like to be present on TikTok.
However, most of them are always busy with other day-to-day activities and don’t have the time to create and build a TikTok account. Well, you can make money on TikTok by helping them solve this problem.
Grow and sell TikTok accounts!
Tips to make money on TikTok by growing and selling accounts
1. For this to work, you need a good follower base and a good amount of videos on your account.
2. Have a consistent theme, or choose a specific niche. TikTok accounts that are in a specific niche are easier to sell since they are not a jack of all trades.
The buyer can continue creating the same kind of content and even get more followers after acquiring the account.
3. Personal accounts are very hard to sell on TikTok. This is not so hard to see, as a large percentage of the followers will be drawn to the person rather than the content.
4. Whenever you’re convincing people to buy your account, you should also give them tips on how they can get more engagement after the acquisition.
3. Publish sponsored posts
Another way you can make money on TikTok is by posting sponsored content. You can reach out to brands, and offer to feature their products and services in your videos.
In exchange for your service, you will be paid an agreed amount of money at intervals.
For a start, you should collaborate with small and newer brands. You can also contact local brands in your locality and convince them to get featured on TikTok while spending just a small token.
TikTok Creator Marketplace (TCM)
There are lots of TikTokers that are not satisfied with earning tokens. If you’re one of them, you can get bigger deals when you use the TikTok Creator Marketplace (TCM).
TCM is a TikTok feature (more of a platform) that connects brands with TikTokers. Such brands will have their posts featured by the TikTokers in exchange for payment.
However, you need to be at least 18 years of age before you can join the TikTok Creator Marketplace. Also, you need to have more than 100,000 followers, and 100,000 video likes within the past 28 days preceding your application.
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4. Sell your own products
Wait. Please, why is no one saying anything about this?
Everyone is talking about influencing and sponsoring posts, but what about using your massive audience to sell your own products?
If you have a “TikTok for Business” account, you can add a shopping tab to your profile. You can add links to your products as well.
Shopping tab feature on TikTok
The shopping tab feature on TikTok became available through a partnership with Shopify. TikTokers that have a Shopify account can use this feature to promote their products.
If any TikTok user sees and clicks on your product link, he/she will be redirected to your Shopify store. If the visitor is interested in your products and satisfied with the price, he/she will make a purchase.
Note that this is not a direct way to make money on TikTok. However, you can still earn by promoting your own products in your posts. Use your popularity to your advantage.
Also Read: 35 Ways For Students To Make Money
5. Donations from fans
There is a feature on TikTok known as coins. If your account is eligible for live streaming, you can receive coins from your loyal followers. After collecting these coins, you can convert them for cash.
How to live stream donations work on TikTok
TikTok coins start at $1.39 for 100 coins and reach up to $139.99 for 1,000 coins.
Whenever you’re streaming a video live, any user can send coins to your account, or use them to buy gifts for you.
From there, you can convert the coins and gifts into diamonds, and then use PayPal to convert the diamonds into cash. However, here’s the thing.
Not all TikTokers are eligible for live streaming. TikTok manually selects users for live streaming, based on criteria known only to them.
You can make money on TikTok without having millions of followers, as long as you play your cards right.
You only need one thing, and that’s people’s attention. You can start by creating amazing content that people are interested in. Also, reply to comments on your videos well as messages.