Can you make money on TikTok?
The short answer is: Yes.
To earn directly from TikTok, you must be at least 18 years old, have over 10,000 followers, and have received 100,000 views in the past 30 days. Apply to the TikTok Creator Fund within the app to get started.
However, making money on TikTok takes a bit of imagination, as there are various ways to earn, beyond just the app-supported cash earning methods. Even if you don't have a huge following, you can still generate income through TikTok.
Just like other social media platforms, many TikTok users have already made money through the app. Despite being a relatively new frontier, the methods for earning money on TikTok are similar to those on platforms like Instagram and YouTube.
There are numerous opportunities to make money on TikTok (check the list below), and your earnings will depend on how you choose to monetize your account.
4 ways to make money on TikTok
1. Partner with a brand you trust
Sponsored content on TikTok refers to content for which you receive some form of compensation. This is what everyone wants, right? For instance, a brand may pay you to make a TikTok video promoting their soy candles or offer a free skydiving experience in exchange for posting about it (but we don't recommend accepting free skydiving offers).
Brands are eager to participate in such paid collaborations. A study on influencer marketing showed that 16% of US marketers intended to use TikTok for influencer campaigns in December 2019, but this number rose to 68% in March 2021. This demonstrates that influencer marketing is rapidly growing on the platform.
According to the same study by eMarketer, companies look for individuals with a following that knows and trusts them, especially in light of the COVID-19 pandemic and ongoing social justice movements.
Therefore, it's important to keep in mind that you should only partner with companies whose values align with your own. The way you engage with your audience is unique to you. Your followers may appreciate your inspirational quotes, language skills, or manicure, but they also care about your ethics.
Tips for Successful Sponsored Content:
Partner with brands or organizations you truly believe in
Maintaining consistency is crucial in sponsored content. If your TikTok is focused on your raw vegan lifestyle and you suddenly start posting about a local burger joint, your followers will see through it. This is both confusing and makes you appear unauthentic. Hence, make sure your sponsored content aligns with your existing content.
Create a press kit for your TikTok account
A press kit functions as a trailer for yourself, showcasing your best qualities and achievements that make you attractive to brands. It should include your contact information, photos, and notable accomplishments. Make them eager to see what you have in store, like a movie with a bag of popcorn. Free press kit templates are available on websites like Templatelab.
Tips for Branded Content:
Include a few unsponsored posts
Brands want to see that you have the potential to drive sales for their business. Posting a couple of unsponsored content talking about your favorite products will increase the chances of a brand wanting to collaborate with you.
Utilize the Branded Content toggle
Transparency is key in sponsored content, and TikTok recognizes this. The Branded Content toggle is designed to ensure that users are clear about their sponsored content. If you create content for sponsorships, use the toggle or risk having your video removed.
Collaborate with Influencer
This strategy is for established businesses looking to expand their reach and earn money on TikTok. Identify an influencer whose content aligns with your brand and collaborate with them.
For example, fashionista Wisdom Kaye partnered with Maison Margiela perfume company in this TikTok, while food blogger Tiffy Chen collaborated with Robin Hood (the flour brand) in this one.
Studies show that influencer marketing is effective, with every dollar spent yielding an average of $6.50 for the business, and the top 13% reporting a return of $20, according to Tomoson. Marketers also report that customers gained through influencer marketing are higher quality than those brought in through other channels like email or organic search.
Therefore, influencer collaborations can impact your business positively, even with micro-influencers.
To find an influencer for your brand on TikTok, use the TikTok Creator Marketplace in the US to connect with influencers. Access to the marketplace is by invitation only for influencers but open to any brand. If you are outside the US, use hashtags relevant to your business and explore the app. Review each creator's page carefully to avoid partnering with problematic TikTokers. It's 2022 and it's important to align with ethical content.
Promote your products on Tiktok
If you have merchandise, you can make money by showcasing your products on Tiktok. Highlight the unique features and details of your products and include a link to your store in your bio. For example, fashion brand Klassy Network demonstrates how to wear a "brami" in a Tiktok. You can also create custom merchandise, like Tika the Iggy's owner who sells Tika-branded clothing online. Beauty brands like Fenty Beauty and Cocokind are successful with merchandise.
Participate in TikTok's Creator Fund
TikTok created a Creator Fund, promising to give out $200M in the US and later increasing it to $1B by 2023, to support and encourage creativity and growth on the app. To be eligible for the fund, you need to meet these criteria:
Be located in the US, UK, France, Germany, Spain, or Italy
Be 18 or older
Have at least 10,000 followers
Have 100,000 video views in the past 30 days
Follow TikTok's Community Guidelines and terms of service
To apply, you need to have TikTok Pro account, which can be accessed via the app.
5 Tips for Earning on TikTok
Be Genuine
Authenticity is key on social media. 90% of 1,590 adults surveyed in a 2019 study said authenticity is important online, but only 51% felt that fewer than half of brands create authentic content. So, be yourself and stick to your authentic content to gain genuine followers and potentially earn money.
Be Clear on Sponsored Posts
For a trustworthy online presence, make sure to clearly state when a post is sponsored on TikTok. The app has a branded content toggle to add a disclosure (#Ad), use it when necessary.
Learn from successful creators
If unsure, check out popular TikTok makers to see how they earn income. Observe their tactics like brand partnerships, selling merchandise, or advertising through their username in alphabets. Implement similar strategies.
Balance sponsored content and regular posts
Too much promotion can bore followers. Mix it up.
Successful TikTokers like Bretman Rock feature brand deals with YSL, but also share entertaining bloopers, personal interests, and their core content.
Brands like Ben & Jerry's also share light-hearted content, like office dogs' Halloween costumes. Keep the content diverse, not just monetized.
Persistence is key
Earning on TikTok requires effort. If it were easy, we'd all be TikTok stars like Addison Rae, who makes $5 million a year despite people doubting her job.
If one opportunity doesn't pan out, don't give up. Consistent effort leads to financial reward.
2022 TikTok Earnings
Monetizing content on TikTok can yield various amounts, depending on approach.
Brand deals can bring in substantial sums, e.g. $80,000 or more for large and successful TikTokers with significant audience engagement.
TikTok Creator Fund pays 2-4 cents per 1,000 views, which can translate to $20-$40 for a million views.
Comments
Post a Comment