Make Money on TikTok
First you need followers. Getting views and followers is a lot easier on TikTok right now than on Instagram. Videos are judged irrespectively of their account and if people watch the video and keep watching – it will get lots of views. To understand how the algorithm works you can read how a video goes viral here.
So how can you make money? There are 4 common ways.
- Influencer marketing.
- Your own brand and business.
- Affiliate marketing
- Live streaming
Make Money on TikTok by Influencer Marketing
As an influencer you build up a following in a particular niche. Once you have gained that following, you may be approached by brands to showcase their products, which you get paid for. To make money you don’t need a huge amount of followers.
If you want to go this route then think about your account and content through the lens of a business or advertiser. What are they looking for?
The question is really
Will the business get more money back than they paid you?
So there are a lot of factors in play there.
Generally if you’re in a smaller niche with not much competition to what you do, you can probably get paid to promote products even with a couple thousand followers.
Take these steps:
- Set up an intriguing profile on TikTok
- Create entertaining videos on your specialized subject
- Add hashtags
Can You Make Money by Live Streaming?
Followers can buy coins using real money, and if they particularly enjoy a video, they can tip the creator. You are given 80% of this TikTok money, and over time, this can add up.
To live stream
- You need 1000 followers
Viewers can gift and buy coins in special packages. And get an certain emoji shown when they send them to the creator.
- Panda – 5 coins
- Italian Hand – 5 coins
- Love bang – 25 coins
- Sun Cream – 50 coins
- Rainbow Puke – 100 coins
- Concert – 500 coins
- I’m very rich – 1000 coins
- TikTok – 1 coin
If you have a special talent like music, art, cooking that fits a live stream, this is a lay up. But you can also just stream yourself talking about anything.
Make Money from Your Own Business
If you have your own website or business, whether you are promoting products or services, this can be one of the easier ways to make money on TikTok. The first step is to create your 15-second video showcasing your business, giving details of your website and how to contact you. The TikTok earnings don’t come directly from the platform itself but by way of the new referrals and sales you make.
There’s a huge opportunity for businesses if they strike will the platform is still young.
Here’s what to do:
- Create your profile on TikTok and add your website link to it
- Refer followers to your profile page
You can showcase your products or services in your videos. What’s even better is to play the long game and create videos that people would want to watch. There could be even just a vague connection to what you do. You will get a lot more followers and over time a lot more business.
You could literally just follow the trends and do those exact videos. You will still stand out since there aren’t that many businesses on the platform yet.
Using Referral Links to Make Money on TikTok
As a business you can either sell your own products and services. Or sell someone else’s. Affiliate marketing is selling someone else’s.
In many ways it’s easier. You skip all parts of creating a product and service and handling the customer. You can just focus on the marketing.
Pretty much every online business has an affiliate program you can sign up to (at the bottom of the site). Amazon being one of the biggest and most well known. Once you sign up you get links and promotion material to drive people to the service.
You will soon discover that it is not possible to add a clickable link to your TikTok profile. Therefore you may not think you can earn TikTok money through affiliate marketing. However, the trick is to add the URL of your landing page or website to your profile. Your video should recommend a product, and then direct people to your profile, where they can see how to get to your site to purchase it.
Linktr.ee is a free service to gather all you social links in a single link.
Here’s a way to do it
- Join an affiliate program that fits with your content
- Add the link to your own website in your TikTok profile.
- Or add a link to Instagram where you link to the product.
- Create videos around the product or the niche of the product
- Guide visitors to your profile page
When making your videos, look at what is currently trending, whether that be a particular song or perhaps something relating to comedy, which is always a popular choice. Look at what the large accounts are doing. Don’t forget to add hashtags to find the right audience.
You probably need at least 1000 followers, to be able to live stream and to possibly bring your profile to the attention of brands and advertisers.
It depends on a lot of factors. Your niche, your content quality, your number of followers and number of views. And it also depends on what type of monetization you’ve set your eyes on. If you have a lot of followers and your own business selling a product and your doing affiliate marketing, and doing influencer marketing you’re probably gonna earn more that if you’re just doing affiliate marketing.
The in-app purchases of coins (which users give to each other) and advertising are the current sources of revenue for the app. In 2019 TikTok made $20B in revenue.
Now you know some of the ways to make money on TikTok. Get started while it’s still early!