7 Ways to Make Money on TikTok
Use the power of this popular social media platform to promote your business, register sponsorship, and more.
Take advantage of profits on TikTok.
TikTok, a popular app designed to share short videos, has over 1 billion monthly active users. According to one statistic, the average user opens the app eight times a day, spending an average of 52 minutes a day on the platform.
This participating user base provides a great opportunity for smart users with big followers to make money. "Short-form content is consumed much faster than traditional video content, so the amount of videos consumed is much higher," says Adam Enfroy.com, founder of AdamEnfroy.com, a businessman who teaches others how to grow their impact online. "This makes it profitable due to the number of faster views and the growth of subscribers."
From selling supported content to promoting your own products or services, asking for donations, and taking advantage of income-generating app services, there are a variety of ways to make money on TikTok. When it comes to the amount you can earn, the sky is the maximum. But there is hard work involved, and not every TikToker can earn a profitable living on the platform.
For aspiring entrepreneurs, Enfroy offers these ideas on different ways to make money on TikTok.
Selling content sponsored.
One of the best ways to make money on TikTok is through partnerships with major brands. But for land care deals, TikTokers first needs to build its audience base. This includes a lot of work, from posting several times a day to harnessing TikTok trends and new features. Some experts estimate that you need at least 10,000 followers to start offering any potential sponsors (but the more followers you have, the more likely you are to get a sponsorship deal).
"Since RPMs (ad revenue per thousand impressions) are very low on the platform - 2 to 4 cents per 1,000 views - you need a lot of views to make money from ad revenue," says Enfroy. "Therefore, it makes sense to build a large number of followers and sell supported content."
Use short-form videos to promote products.
You can also use TikTok to promote your own products through short videos, which are usually one to three minutes long.
Enfroy's team uploads short daily videos, which highlight their experiences in entrepreneurship and online business programs on Instagram, TikTok, and YouTube with the aim of building brand awareness and encouraging people to buy their business programs.
According to Enfroy, his team has seen a significant rise in digital sales by amplifying their brand with short-form content.
Money on the creators' fund.
Creativity Box is a TikTok program that helps support innovative creators (people who regularly create or share videos on the app) by giving them compensation as the following grows. TikTok users must apply for the builder's box, and there are some requirements. You must be at least 18 years old, have at least 10,000 followers, and have received 100,000 video views within 30 days, among other requirements. According to HootSuite, you can expect to make between $20 and $40 for a million views. While it may not be the most lucrative way to make money on TikTok, it's another way to diversify your income on the platform.
Use TikTok as a door to other online marketing opportunities.
In addition to making money from TikTok, you can use the app to direct new users to other marketing channels, from your own blog to your YouTube channel, where you may be able to close the deal or record some transfers.
According to Enfroy, "Tiktok is the entry point for online marketing." "It's the largest group of new users that can stream into your other marketing channels such as blogs, YouTube channels, and other social accounts," he adds.
Ask for donations with Life Gifting.
Yes, you can even use TikTok to directly ask users for donations. Through the app's live gift feature, you can request donations during live streaming on the platform. However, you should note that your donations will come in the form of virtual currencies chosen by users, which in the end (after several other exchanges) can be traded in actual currency. Again, this won't be your golden ticket, but it's another way to increase your revenue on the platform.
Use the platform to find new opportunities.
Characters such as Addison Ray, a social media celebrity and actress, dancer, and singer, began their start on TikTok. Ray's strategy to use the platform to highlight her talent may be something others with talent can replicate.
"It has done well on every other platform - even better than TikTok - and is now a household name in the United States," Infroy wrote on his website. "The influencer was also invited by well-known talk show host Jimmy Fallon and even got her Netflix show recently."
Work with influencers to market your products and services.
Even if you're not an expert on TikTok, you can still harness the power of making money on the platform by communicating with an influencer (or many influencers) to market your products and services. In other words, if you have something to sell, you may consider working with TikTokers to sell it with the help of their influence and promotion. This, of course, involves strong communication skills.
"It's a great platform for e-commerce brands to build brand awareness and work with influencers to market their products," says Enfroy.