TikTok is the world’s seventh most popular social media network, with 689 million active users in January 2021. That is a large market. Numerous individuals have discovered ways to generate money on TikTok, and others consider it a full-time profession. TikTok needs some ingenuity. At the same time, there are official, app-funded ways to earn money on the network.
As with other social media artists, many TikTok users have already achieved financial success using the app. And, while TikTok may appear to be a fresh frontier, the techniques for earning money are vast.
The following are the most effective ways for earning money on the app.
Strategy 1: Collaborate With A Reputable Brand
On TikTok, sponsored content defines a content in exchange for which you receive something of value. That is the objective, correct? For instance, a business may compensate you for creating a TikTok about how wonderful their soy candles smell, or you may receive a complimentary skydiving vacation in exchange for writing about it. (However, we do not advocate taking advantage of any free skydiving offers).
And brands are keen to engage in such compensated collaborations. According to research on influencer marketing, 16 percent of US marketers intended to utilize TikTok for influencer campaigns in December 2019—but that number increased to 68 percent by March 2021. In other words, influencer marketing on the platform is exploding.
Strategy 2: Collaborate With An Influencer
This technique is the inverse of the first. If you’re an established business seeking to amplify your visibility on TikTok, reach out to an influencer whose content is relevant to your brand.
Fashionista Wisdom Kaye recently collaborated on a TikTok with perfume house Maison Margiela, while culinary blogger Tiffy Chen collaborated on another with Robin Hood (the flour, not the fox):
According to Tomoson’s analysis, each dollar spent on influencer marketing generated an average return of $6.50 for businesses, with the top 13% claiming a return of $20. Additionally, half of the marketers believe that consumers acquired through influencer marketing are of higher quality than those obtained through other channels like email marketing or organic search.
Strategy 3: Utilize TikTok To Promote Your Products
If you’ve already developed items, this is the most uncomplicated way to earn money: produce TikTok showcasing your products, including all the nuances that make them distinctive. Ensure to add your bio links to your business because they raise the possibility of TikTok video views providing information about your website. You’ll find it easier to grow a TikTok account than maintaining an Instagram account.
Strategy 4: Apply To TikTok’s Creator Fund
TikTok creator fund is the app-sanctioned money-making approach we discussed previously. On July 22, 2020, TikTok announced the launch of their new Creator Fund, promising $200 million in the United States to “encourage people who aspire to use their voices and creativity to ignite amazing careers.”
Be based in the United States, the United Kingdom, France, Germany, Spain, or Italy to apply for a creator fund, and the person must follow the below guidelines.
- Must be at least 18 years old
- Have a minimum of 10,000 followers
- Have received at least 100,000 views on your video in the previous 30 days
- Have a TikTok account that complies with the TikTok Community Guidelines and Terms of Service.
- You may apply for the Creator Fund directly from the app if you have TikTok Pro.
Earning money on this social network is not an easy way. If you’re unsure where to begin, begin by scrolling. The likelihood is that some of your favorite creators get money through TikTok. Consider what they’re doing with their branding deals, marketing T-shirts, and writing and attempt to replicate their methods.