TikTok Monetization – Here’s How You Can Make Big Money
TikTok is now perking up the ears of more marketers and entrepreneurs in the year 2021 and beyond. TikTok has now become home for all kinds of content and some people go viral overnight.
TikTok has become one of the popular social media platforms where you can earn money just by providing content to the community.
TikTok has now taken over the social media world and is a leading destination for short-form videos. TikTok videos are easy to create, and as there are more than 800 million active users on the app, your videos are likely to fall on the sight of audiences. Some have questions if it is possible to monetize on TikTok and it’s a big yes!
If you are obvious about how to make money on TikTok, without a delay let’s get started on the terminologies of making money.
There are 7 absolute ways to make money on TikTok and they are as follows:
#1 Grow And Sell Your TikTok Accounts
Does it sound weird that growing and selling a TikTok account brings money on TikTok? No, not at all. The reason behind it is some creators find it very difficult to grow their accounts for reach and to make them easier, you can approach people who sell well approachable topics, with a good amount of traffic.
Growing and selling TikTok accounts is becoming more and more popular in terms of eCommerce and product space. Like Instagram, the first thing you are going to do is pick a niche topic and create entertaining content. Remember you must keep it natural rather than exaggerating the realness of the content.
There are a lot of people who are already selling their TikTok profiles around a particular interest. Usually, they are the niche topics and when they find no option to sell their products, they reach out directly to brands in the industry and sell the TikTok profile and make some money on TikTok. The good news for products brands is that because the TikTok profiles can be easily sold out on TikTok
#2 TikTok Donations
The second way to earn money on TikTok is going Live on TikTok and collecting donations from the viewers. It is similar to the other social media as done in the Twitch application.
This feature is so very fascinating because it is the best option to get monetized in TikTok. Let’s look at how it works! What are the coins? On TikTok
If you are a regular TikTok user, you can get into the profile and purchase some commonly used term called “coins”. Consider an example, for a hundred coins, you will get a cost of $1.39.
Do some wonder what could be done with these coins? If you find out your favorite influencers on TikTok, you can directly send them the coin as a credit for their work.
The creator has the power to convert the coins into diamonds and finally, the diamonds can be converted into cash via PayPal. With this Chinese version of TikTok, you can attach a shopping cart to the product they wish to sell, so it acts as a QVC or the shopping channel.
#3 Managing Influencer Campaigns On TikTok
The third method of earning money on TikTok is by managing influencer campaigns and however, this is not a new idea but it is an effective strategy.
Like Instagram influencers, the TikTok concept can also be executed along with the influencer agencies, which is helpful to bring fame with more TikTok video views. However, you can be a middleman who serves as the creator of TikTok and the brand who wishes for an influencer’s presence.
By just being a coordinator, you have the power of making money on TikTok i.e. you charge a fee just to maintain and manage an influencer campaign. It might be from creating an agreement, managing both parties, and also by making sure of deliverables all the possibilities are met.
TikTok is the smartest platform, where there is an internal influencer program(inbuilt). If you are a reputable brand and wish to reach out on TikTok, send a formal request to begin the campaign.
#4 TikTok Advertising Platform
The fourth way to make money on TikTok is by utilizing the TikTok ads platform. TikTok has the largest audience in the U.S. of about 120,768,500 people and it’s stunning.
But what’s more interesting is the percentage of adults is higher across North America, and mainly in the middle east and Asia. And, if you are keen on marketing the international audiences, ads are the best offers for reach.
So, is it necessary to make advertisements on TikTok? Yes, some brands may find this advertising opportunity as the best fit for targeting a wide range of audiences and TikTok ads will have the best results for:
- Brands in Asia or the middle east(with strong presence).
- Brands that target women under the age of 18 to 25.
- Brands do market to customers who are 35 and under.
TikTok permits businesses to run ads in the following formats and they are as follows: branded hashtag challenges, in-feed ads, top-view ads, brand takeover ads, and branded lenses.
- In-Feed Ads – You can tell the brand stories like a professional using these in-feed ads. In-feed ads in TikTok are also called standard ad formats, which embed your video ads to autoplay on the FYP. However, these ads also let users comment, share, and like on the videos.
- Top-View Ads – Top-view ads grab users’ attention with the help of TikTok prime ad real estate. They appear on the For You page of TikTok, as soon as the user opens the TikTok application.
- Brand-Takeover – Brand takeovers are alternatives of top-view ads, where it appears as whole-screen static otherwise of dynamic displays, which delivers a storing visual impact when opened TikTok.
- Branded-Hashtag Challenge – This branded hashtag challenge is the perfect one that fits the user-generated content. This is the format that is used for the user’s passion for creation and expression for strong brand awareness.
- Branded Effects – These are the playful side where brands embrace their true personality i.e. brands enjoy the shareable stickers, filters, and effects that the user can use in their video also.
- A Complete Guide On TikTok Hashtags: Best Strategies To Go Viral in 2021
- How To Get More TikTok Views For Your Video With Potential Audiences
- 9 Incredible TikTok Marketing Ideas To Double Your Engagement Rate
- How To Generate Leads On TikTok In 2021 (A Step By Step Process)
#5 Management Services On TikTok
The fifty way of making money in TikTok is by offering management services for the creators. Some creators in TikTok get fame and name in a very short period and that could be utilized by offering a kind of management services. However, overnight fame is the chance which is like a business that is laid on the lap.
Consider, if you are a creator who has millions of followers, the first thing you can do without thinking further is to reach out to people who seek help.
That is you could step in and offer some sort of services by offering the best piece of content strategy or managing the deals and offers that come along the way of TikTok.
If you are the one around the background of production and storytelling, you can apply them to management services in TikTok.
#6 TikTok Consulting
Last but not the least, it’s nothing but the consulting services in TikTok. Yes, TikTok consulting is one of the best ways to make money in this field, it is slightly similar to management services.
Once you become a professional on TikTok, you can gather all the strategic ways and offer a consulting service for the person who wants to be a professional as well.
The best way to leverage your expertise from the platform is to help out the people who look for familiarity or the ones who wish to be one of the growing creators.
So, when you suggest some ideas on how to get TikTok famous or get views or followers as a consultant, you gain a decent amount in return.
Well, it needs some background verification and experience regarding this kind of offering. But when you are there for people, you would be paid for experience and your brain.
Note: When you help out people to get any deals and influencer agreements on TikTok, you can negotiate a percentage or even cut out the deal if it wasn’t fair play.
#7 Apply Creator’s Fund On TikTok
On July 22, 2020, the TikTok app sanctioned a money-making methodology, to encourage the dreams of users who use their talent and innovations to develop their inspirational careers.
However, a week later, TikTok announced that the fund will grow to $1 B U.S. in the year 2023 with some basic guidelines and they are as follows:
- The person should be at least the age of 18 to get involved in a creator fund.
- The person must reside in the location – U.S., U.K., France, Germany, and Italy.
- The individual must have about 10k followers and a specific video view of about 1,00,000 in the last 30 days.
- The account follows all the basic guidelines and terms of service.
However, making money on this social network isn’t that easy but a steady effort and some updates can increase your monetization. And here are all the seven terminologies that help you make money on TikTok.