The chances are that you already use TikTok for personal entertainment and burnout data unnecessarily. Many people are making money on TikTok and having fun doing it – they’re killing two birds with one stone. This piece will show you how to commercialise your TikTok activities.
Since its debut in 2016, TikTok has grown exponentially and become the first app not owned by Facebook to hit three billion installs. Like any other social media platform, there are different ways of making money on TikTok. But the most significant factors to consider when you want to monetise TikTok are the audience and content.
TikTok audience varies, and so does the content. Suffice to say; your content determines your audience. Since your money is tied to your audience, ensure your content is creative, authentic, and mouth-watering. The more your audience craves your content; the more people want to follow your account.
If you’re ready to monetise TikTok, here are five methods you should explore.
Build and Sell TikTok Accounts
Many businesses are looking to take advantage of TikTok to reach their target market and drive sales, and leverage any account with a huge following that can give them that reach.
Anyone who has already built a significant following and has the know-how would certainly be the go-to for the brands seeking solid visibility on TikTok.
However, before you can think about selling your TikTok account or using it for brand influence, you need to commit to growing the account. Firstly, pick a niche and stick to it. Then, create entertaining and enticing content that can go viral, and with this, your following would skyrocket. This will inevitably attract brands to the account.
One of the ways of selling is through TikTok Live. While the live stream is on, new products are released, or auctions are done. Also, a link in the bio encourages your audience to follow and patronise them. Hence, once they have the account, selling becomes easier. You will be surprised to know that brands are looking for active accounts to buy. So if you want to monetise TikTok, develop and sell your account to the highest bidder.
Become a TikTok Influencer
If you intend to keep your account, become an influencer and make money from sponsored content. The saying by Ray Kinsella: “Build it, and they will come” accurately captures how TikTok and other social platforms work. When you build your account to a desirable point, brands will scramble to partner with you to promote their products or services. This is trade by barter. They have the money; you have the audience they need for their business.
You can grow your portfolio by working with brands in your neighbourhood. But if you want brands to come to you instead of going to them, join the TikTok Creator Marketplace (TCM). TCM is a platform that connects and allows brands and TikTokers to run marketing campaigns. You must have over 100,000 followers, be at least 18 years old, and receive over 100,000 video likes to apply.
“I started taking TikTok seriously when it became the next big social media platform for business owners,” says Priscilla Isaac, a TikTok influencer. “Believe it or not, TikTok is the biggest marketing platform in the world. It is competing with Twitter. As a TikTok creator, the app doesn’t pay me directly, but I get paid via promotions and jobs I do for business owners, musicians and brand owners. And I have worked with so many brands, including DSTV.”
You may think you need to be a macro-influencer before promoting products for brands and starting to make money. Well, that is not true. Some brands prefer micro-influencers or influencers with a smaller audience. The main thing to concentrate on is your niche and the content you create. These are the things that will attract brands to you.
The coin is a fantastic feature on TikTok collected by users when live streaming. This feature, however, is conditioned to having at least 1000 subscribers. The coins are virtual currency usually purchased by your fans.
During live streaming, your fan can decide to send you coins or buy you gifts. After the streaming, you share the coin equally with TikTok ( TikTok shares this with the App Store and Google Play). You can convert the coins and gifts into diamonds. The diamonds can be changed into money through PayPal.
Become a Creator Manager
Managing creators is another way of making money on TikTok. Some TikTok creators have millions of followers, which may happen rapidly, thus becoming overwhelming. You can offer to assist them with their content strategy, creative approach, or even offer to manage their offers and promotions.
Manage influencer campaigns
Many brands are looking for influencers to promote their products on TikTok. You can be the middleman connecting the influencers and brands while earning your commissions.