Even though TikTok does not have a monetization policy like YouTube or Twitch, there are still a few ways to earn money from the social media platform. Exactly how does one go about monetizing their TikTok channel?
Making money on TikTok requires the right content, the ability to attract a large number of followers, and effective marketing strategies. Among the most well-liked options for influencer marketing as of late, it continues to gain ground.
Multinational corporations are willing to pay TikTok influencers anywhere from $200 to $20,000. Consider a few of the avenues of inquiry we can go down:
Pay Attention to Expanding Your TikTok Audience
One of the most effective ways to grow your TikTok account is to steadily and regularly increase your number of followers. A greater number of your followers increases your potential for securing a lucrative brand sponsorship. For the recently introduced TikTok Creator Fund, you’ll also need at least 10,000 followers.
When you have a large number of followers, you open the door to potential partnerships with larger, more well-known brands. When considering an endorsement deal, big-name companies want to know that their product will be seen on at least 5,000 people, and they can rest assured that this will happen if you have 10,000 or more followers. If you align yourself with a well-known company, you may receive substantial financial benefits.
Try Communicating with Brands That Can Help You Out
When it comes to creating content, no two creators have the same process. Brand endorsements are the most straightforward and lucrative way to monetize your TikTok channel. It’s crucial that you pick a brand that you enjoy using or that meets your needs. Why?
There must be something about your content that interests your followers enough to click the “Follow” button. It is simpler to convert endorsements into conversions and commissions if the product you are endorsing is something that is relevant to your content or that the majority of your viewers can relate to. Reach out to brands that are relevant to your content and your audience’s interests if you want to make money on TikTok.
Establish Your Company’s Identity and Market Your Products
It’s crucial for creators to establish themselves as brands, attract fans, and partner with other companies. Getting your name out there early on as a brand can also help you land partnerships. TikTok also allows creators to team up with companies to make unique products for their most devoted followers.
If you have a dedicated following, you can choose from a plethora of on-demand retailers selling a wide array of swag, including T-shirts, mugs, totes, hats, caps, pillowcases, notebooks, stickers, and more. One of the greatest benefits of selling branded merchandise is the exposure you’ll get from fans who proudly display your logo wherever they go.
If you are a TikTok creator and meet the following criteria, you may apply for payment from the TikTok Creator Fund:
- Must be over the age of 18.
- Originating in the English-speaking world.
- Having at least ten thousand devotees.
- Gaining 100,000 views in the last 30 days is considered a success.
- Adhering to the Terms of Service and Community Guidelines of TikTok
Putting in a request to the TikTok Creator Fund should be on your list of priorities. Applying to the Creator Fund is timely, as its total size is projected to reach $1 billion by 2023. TikTok Creator Fund is unique in that it does not rely on a revenue share from advertisers like most other platforms. Instead, your content and TikTok account’s growth will determine how much money you make from the Creator Fund. Views from verified accounts, as well as other related metrics, are considered.
Maximize the Value of Your TikTok Account and Resell It
Since YouTube, Twitch, and Instagram began accepting advertising, trading user profiles has become a lucrative business. There will always be new faces and companies looking to take over well-established accounts. Consider reaching out to brands that are interested in your niche if you are skilled at creating content for that niche.
Most themed accounts on TikTok have devoted followers because of the quality of the content they produce, increasing the likelihood that your account will be discovered by brands.
Start a Live Stream and Collect Money for It
TikTok’s live stream feature is one of the best aspects that sets it apart from competing social media platforms. In contrast to the majority of competing social media platforms’ go-live features, TikTok live emulates Twitch and YouTube’s live stream capabilities in both appearance and operation.
If you enable the Live Gifting function on your TikTok account, your fans can send you money. During your broadcast, your viewers and followers can select from a wide range of gifts and have them delivered to you.
Prioritize Viewer-Appreciated Media
This is crucial, especially if you are just starting out on Instagram. Understanding what kinds of content do and do not perform well is crucial to any social media platform’s development. To see a dramatic increase in your account’s popularity, you need to understand what kinds of content are most successful. The TikTok Creator Fund requires a minimum of 100,000 video views within the last 30 days, so this is still relevant even if you’re already well-known.