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TikTok is a social media platform where users can create and share short videos of themselves lip-syncing, dancing, performing skits or other creative activities.
The app was launched in 2017 by the Chinese company ByteDance and has become one of the most popular social media platforms worldwide, with millions of users worldwide.
What makes TikTok unique is its algorithm, which curates content tailored to each user’s personal interests and preferences. This makes it easy for users to discover content they are likely to enjoy.
The platform also allows users to connect with each other through hashtags, making it easier for them to find and follow creators whose content they like.
This has resulted in a highly engaged audience who are eager to consume more content from their favourite creators.
How To Make Money On TikTok?
With over 1.677 billion users worldwide, creators are now easily earning a full-time living off of TikTok and its various monetisation opportunities. But to clear the misconceptions first, here are some FAQs
How many followers does one need to make money on TikTok?
There isn’t one set number of followers as it varies depending on the type of monetisation you choose to pursue. However, having a large following can make it easier for brands and companies to reach out to you with potential opportunities.
How much do TikTokkers make?
The amount of money you can make on TikTok is varied and depends on several factors, such as your reach, the type of monetisation opportunities you pursue and how much effort you put into creating content. Generally speaking, the more views on your videos, the more money you can make from official sources (up to 4 cents for 1000 views). The game changes when you start thinking about other monetisation strategies like selling products directly, affiliate marketing and brand partnerships.
Official Ways To Make Money On TikTok
Unlike Instagram, creators on TikTok have a variety of monetisation opportunities, including both official and non-official (but legit) ones. Here are some of the most popular ways to make money on TikTok:
TikTok Creator Next
TikTok Creator Next is a company’s official program to help creators monetise their content. It includes a suite of tools and features that allow you to convert your creativity and passion into a full-fledged career.
To join Creator Next, you need to be :
18 years or older,
Have at least 1,000 video views in the last 30 days
Have at least three posts in the last 30 days
Have an account that is in good standing with Community Guidelines
Be based in countries the program is available in (US, UK, Germany, France, Italy, Spain, Canada and Australia)
The Creator Next program is the host of the following monetisation features –
TikTok Creator Fund: The TikTok Creator Fund is an official TikTok monetisation program (like Snapchat Spotlight) that rewards creators for creating high-quality content. Once in the program, creators can earn money from their videos based on the number of views and engagement they receive.
TikTok Creator Marketplace: The TikTok Creator Marketplace is a way for creators to collaborate with brands and businesses looking to work with influencers.
LIVE Gifts: Creators can earn money through virtual gifts (diamonds) they receive during live streams.
Video Gifts: Creators can also earn money through video gifts (diamonds), which are virtual gifts viewers can send to creators in the comments section of their videos.
TikTok’s Creator Fund
TikTok’s Creator Fund is a program where eligible creators can receive payment for their content. The fund was created to support the platform’s most popular creators, who are allotted a specific budget based on their reach and engagement.
Joining the Creator Fund is really easy. All you have to be is over 18 years old, have at least 10k followers and have a minimum of 100k authentic views in the last 30 days. After you’ve met these requirements, you can apply to join the fund directly through your account settings.
Currently, this fund is available only in 6 countries (U.S., UK, Germany, Italy, France, and Spain), but the company is working to expand this to more countries in the near future.
How Much Does TikTok Pay To Its Creators?
TikTok usually pays 2 to 4 cents for every 1000 views a creator receives. It roughly translates to $20-$40 for 100k views and $200 to $400 for every 1M views. The exact number also depends on the content type and engagement rate.
You can withdraw money from your creator fund as soon as you reach $10 in 30 days.
TikTok Shopping
TikTok Shopping allows brands and creators to create a pathway for their audiences to shop right from within the platform. The feature provides an opportunity for businesses and influencers alike, allowing them to easily add product links in their videos and an entire catalogue of products for their audiences to buy.
The best part about this shop is that the user isn’t redirected to any external website. Instead, the product will pop up in the form of a link within the video itself. Also, you get a dedicated dashboard (seller centre) to manage your store. So, if you have products to sell, all you have to do is add the product card to your video and link it to the corresponding page on your store.
Moreover, given that the average engagement rate on TikTok could be as high as 10%, your product stands a good chance of getting noticed.
TikTok Creator Marketplace
TikTok also has a Creator Marketplace, an official platform for creators to team up with brands and businesses to monetise their content.
It’s similar to any influencer marketing agency, except that it is a platform specifically designed for the TikTok creator community. This makes it easier for brands to find and work with creators quickly and efficiently.
The marketplace offers many different branded content opportunities right on TikTok’s dashboard.
To join the Creator Marketplace, you must first meet some basic requirements of the Creator Next.
Other Ways To Make Money On TikTok
Besides the official monetisation options, there are also several other ways to make money on TikTok that are unofficial but legitimate.
Brand Partnerships
Being famous on TikTok opens you up to opportunities from brands who are keen to work with creators.
Such partnerships are win-win for both parties, as the brand gets exposure to a new audience, and the creator makes money. They may include sponsored posts, where you promote the brand’s products or services through your content, or they may involve you collaborating with the brand to create content.
Popular creators have managed to make up to $150K for such partnerships with their large followings.
Depending on your reach and engagement rate, you can negotiate payments from brands ranging from $500 to tens of thousands of dollars. But before you approach a brand, ensure:
You have a well-defined niche and audience
Your content is of high quality
You are targeting the right brands that fit your personality and interests
Also, ensure your reach is lucrative enough for brands to partner with you.
How To Get Brands To Partner On TikTok?
There are four ways
Reach out to brands yourself: While it’s a lengthy and not-so-guaranteed process, you can always reach out to brands and propose your services. Let’s say you have 60,000 followers and are quite popular in the makeup niche. Find brands starting up their own makeup lines and see if they’re looking for influencers, then approach them with your offer.
Get curated by talent agencies: Several dedicated talent agencies like The Influencer Marketing Factory connect influencers to brands. You can sign up with a talent agency and have them curate opportunities for you. They take a cut from your payment, but it’s worth it if they get you great deals.
Use TikTok’s platform: The app has its Creator Marketplace, allowing brands to connect with popular creators on the app and work together for sponsored posts. The bonus is that you get to join the Marketplace Academy for Creators, where you’ll get access to exclusive tutorials, workshops and other resources from established creators.
Join Influencer Marketing Platforms: There are many platforms, such as Creator.co, and Upfluence, which let brands find influencers in their niche by browsing through profiles and portfolios. You can sign up to these platforms and get hired directly.
Start Affiliate Marketing
Affiliate marketing refers to a process where influencers promote products or services from other businesses and get a commission for each sale they make. For example, creating content in the technology niche and reviewing products. You can become an Amazon affiliate and start recommending products to your followers.
To get started, you must join an affiliate network, choose the product or service you want to promote, and then share it with your audience on TikTok.
You will be given a unique link with a tracking code that helps track the sales generated through your content. Every time someone buys something using your link, you get a commission.
Promote Songs
Not just brands but also labels and musicians are eager to collaborate with popular TikTok creators to promote their songs. If you have a good following and can create engaging content, why not get paid for sharing songs?
This works the same way as brand partnerships, where you get paid to promote a piece of content. All you have to do is come up with creative ways to use the song in your videos and make sure it’s catchy enough that your followers start using it as well.
Such collaborations can be quite lucrative and may fetch you a good amount. All you need to do is join TikTok music promotion sites like SoundCamps or join a talent agency that also deals in music promotion.
While you usually find sponsored post opportunities on Creator Marketplace, there are also direct sponsorship opportunities if you have a big enough following. Brands may reach out to you directly, or you can approach them yourself.
Sell Your Digital Products
Are you good at something? Or do you have a niche skill that you can teach others? Then, selling digital products like courses, ebooks, templates, and more can be a great way to make money on TikTok.
You can create content around the niche you’re teaching (such as makeup tutorials, cooking recipes, and photography tips), and then link to your digital products in the description.
Your followers may purchase them, giving you an additional stream of income other than brand partnerships and sponsored posts.
For example, HappyDownloads is an Etsy store focusing on digital templates. The brand also has a TikTok account with around 1M followers. They create content around different designs and templates they have created and link to their store in the description for people to purchase them.
Can You Make A Career Out Of TikTok?
Short answer: Yes, definitely.
Long answer: TikTok is an ecosystem of engaged audiences and talented creators. When a platform becomes an ecosystem, it becomes easier for creators to make money and turn their creativity into a full career.
You can generate income from affiliate marketing, sponsored posts, and digital products and explore other avenues such as getting hired as a brand ambassador or working with talent agencies.
You may even be able to get donations from your followers once you have an engaged audience.
At the end of the day, it all comes down to creating engaging content that resonates with your audience and finding brand partnerships that fit well with your niche and personality.
A startup consultant, digital marketer, traveller, and philomath. Aashish has worked with over 20 startups and successfully helped them ideate, raise money, and succeed. When not working, he can be found hiking, camping, and stargazing.
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