Isn’t it surprising that you can make money from just 15 seconds to 60 seconds of video?
I am talking about the platform named TikTok which has been downloaded over 1.5 billion times worldwide. It is a very popular platform that it’s user base has been spread across 154 countries worldwide. People spend an average of 52 minutes every day on this platform.
Despite its popularity, users are also making a lot of money through this platform.
According to the reports from Forbes, Addison Rae named TikTok star generated an income of $5 million last year. That's Insane. Isn't it?
Also, Many top-brands are using this platform for marketing purposes and generating revenues. As the brands’ curiosity is increasing in TikTok, this also creates more opportunities for the creators to make the money from TikTok.
Here we will discuss several ways on how to make money on TikTok.
Before talking about the ways, the first thing you need to do is to grow your account. Because creators with more no of followers have more benefits in making money.
Now let’s discuss the ways:
As more and more brands are focusing on TikTok. They often look for the creators or influencers to promote their products. This is a great way to make more money, It would also generate more opportunities in the future. If you have a good amount of followers in your account then there are fair chances that brands will contact you and pay you for their promotion.
On the other hand, if you are just new to TikTok then you might face some difficulty to get the Brand Sponsorship. The best way is to grow your account, post some quality stuff, get active on influencer marketing platforms then surely after some time, you will start to get Brand Sponsorships.
Now, the question arises which type of brands will contact the influencers. If your channel is based on fashion blogging then you will get the sponsorships of Fashion Brands and If your channel is based on Yoga or Gymming stuff then you may get the sponsorships of Sports Brands.
Management and Consulting
If you can’t create content to post or lacking the ability to become an influencer, then there is another way to make money on TikTok
You can provide management services to influencers by connecting them with marketing brands and help to get them a Brand Sponsorship. You are acting here as a middleman. You can either connect the influencer to the brand or vice versa. Many brands often fail to get the right influencers to promote their Brand. So, here your management techniques will do this work.
Many influencers seek guidance about growing their accounts and New Brands need the techniques to promote brand awareness on TikTok. If you have knowledge in social media marketing then you can fulfill these needs of Brands and Awareness by teaching them and providing your services.
Selling your Products/Services
Let’s consider you a Salesperson, Shopkeeper, Business Owner, or any professional who wants to sell their products or services. To achieve this, you must have a particular amount of buyers who show interest in your services and then purchase them.
TikTok is a great platform to market your products and services in a creative way. This will also help people to know more about the product. No matter which profession you are in, You can get a load of traffic.
Let’s take an example, If you are a phone case maker, then you can use the platform of Tiktok and promote the phone cases by showcasing the designs, It’s durability, and other stuff related to this through the videos and provides the details of how customers can reach him.
If you are already famous on TikTok then you can create your own products like Merchandise, makeup products, etc, and sell them.
Many people have used Instagram and Facebook Ads. In a similar way, you can also create TikTok ads. Tiktok ads are sponsored short videos that are posted on the Tiktok platform to increase the user reach. You can't post any images or text as an ad because TikTok is only dedicated to videos. TikTok ads are a great way to increase brand awareness, generate leads, content awareness, etc.
There are 5 different formats of ads:
- In-Feed Ads
- Branded Hashtag Challenge
- Branded Effects
- Branded Takeover
How does TikTok make money with Ads?
Tiktok charges its advertisers on (CPM) cost per thousand impressions. TikTok ads cost depending upon the ad format and duration and can range from $50,000-$20,000.
If you are an established TikTok creator then you can make money in the form of donations. You can do a live stream directly with your TikTok audience using the Live.Ly app. People can send you coins as a Thank you gesture. 100 coins cost the audience $1.39. When the Audience sends you the coins, you can convert them into diamonds and then convert them into cash via PayPal.
You can also make a fan-base on TikTok and direct the traffic to other social media platforms. This will also increase the revenues and you can make more money.
TikTok is the fastest growing platform and you can earn a decent amount of money through it. There are few things you have to consider like being consistent, creating quality content, and engaging with your followers. This will increase your popularity, thus create more opportunities for making money on TikTok.
Follow the above guide and Enjoy making money on TikTok 🙂