Recently, Tiktok became the new normal short Video platform challenging Instagram and attracting the most influential celebrities to its amazing system. With most of these celebrities and influencers making money from their activities on the Tiktok app.
Here is what you need to know!
This millennial app targets the age range of Teens to the late 40s audience. The TikTok app has been downloaded over 2 billion times on the App Store and Google Play Store. With over 1 billion app downloads on Google play store alone, you will agree with me that this app has the right audience that can make you money.
And I know you are reading the post because you want to know the easy ways to make money on TikTok.
So, this is a breakdown of what to expect:
There are also many other platforms you can make money online just as you are about to learn that of TikTok. Click Here to read more!
Before we delve into how you can make money from Tiktok, I want to be sure you know how to use TikTok very well as that will guarantee to get the audience you can market to and make some money.
First, it is worthy of note that Tiktok is owned by Bytedance after the Chinese company bought the then Musical.ly and merged it with Tiktok on 2nd August 2018.
This merge immediately skyrocketed Tiktok’s userbase and made it a worldwide celebrated app.
Enough stories, let’s hit the road to making money from Tiktok.
Making money from Tiktok is almost the same way as one can do from other social media platforms but a little bit different.
Read through these 5 ways you can make from Tiktok and be on the go to getting alert by using this wonderful app.
5 Ways to Make Money from Tiktok
Here are 5 ways you can make money by creating an account on the TikTok App:
- Growing accounts and selling them
- Manage Influencer Campaigns
- Tiktok Ads platform
- Management Services
#1 Growing Accounts and Selling Them
The first way people are making money from Tik Tok is by growing accounts and then selling them.
This is becoming more and more popular in the eCommerce or product space.
Similar to Instagram, you’re going to choose a niche and then go ahead and create entertaining content. Ideally, content that goes viral attract that person who would be the ideal customer for your product.
There are already people in this space today who are growing TikTok profiles around a certain interest. Usually, it’s a niche topic and they might not have anything to sell, but they’re going to reach out to brands in that industry and sell their TikTok profile to them and people are legit making money this way.
The good news for product brands is once they have that account in their hands, it’s actually fairly easy to sell products.
One way to sell your products is through TikTok Live. You can launch products while live streaming or hold auctions while live streaming.
And, of course, there is the link in the bio where you can always drive your followers to purchase your product.
So, if you’re the type of person to love TikTok, and you just want to grow: follow around a certain topic and build that community around a certain topic. Go for it and then reach out to those brands who would love to have access to those followers and sell them your account.
The second way people are making money from TikTok is by going Live and collecting donations from viewers (just like you can do on other platforms, like Twitch).
I find this feature of TikTok fascinating.
It’s really a built-in monetization platform, literally from day one.
From what I’ve seen, here’s how it works:
When you’re a TikTok user, you can go into your profile and purchase something called coins.
For a hundred coins it will cost you $1.39.
Now, what do you do with these coins?
When one of your favorite creators is going Live, you can actually send them coins as a way of giving thanks for all of their effort in creating the content they do.
What does the creator do with this coin?
The creator turns the coins into diamonds and those diamonds can be converted into cash via PayPal.
On the Chinese version of TikTok – an app called Douyin – there is a next-level feature similar to this. When creators are Live, they can actually attach a shopping cart to a product they sell.
So it’s kinda like QVC or the shopping channel. You can go Live, hold an auction, and people can buy your product while you’re Live through the shopping cart feature.
My guess is this feature is going to come to accounts worldwide sooner rather than later.
#3: Manage Influencer Campaigns
The third way to make money from TikTok is to manage influencer campaigns.
This isn’t a new idea. There are straight-up influencer agencies to serve Instagram influencers already.
The same concept applies to TikTok. You can be the middleman or the broker between a creator on TikTok and a brand that wants to work with that influencer.
From creating the agreement, managing both parties, making sure the deliverables are all met – just being a coordinator – you can charge a service fee to manage campaigns like that.
Now, this is the gist.
TikTok as a platform is smart; they actually have an internal influencer program already built-in. So if I’m a big brand and I want to reach out to TikTok and say, Hey, this is the space I’m in, what influencers should I work with? I can do that.
The only thing is, I’m going to pay a percentage to TikTok for brokering that agreement.
That’s where you can come in as a service or agency to make that agreement outside of TikTok and help brands save a little bit of money.
#4 Tiktok Ads platform
The fourth way you can make money from TikTok is by using their ads platform.
Just like Facebook and Instagram ads, you can Google right now, “TikTok ads” and sign up for access to their ads platform.
It is pretty self-explanatory if you’ve ever run paid traffic before, so if your market’s on TikTok, it might be worth you creating a few ads, putting some budget toward experimenting there, and seeing what happens.
Maybe you can sell more of your products through TikTok!
#5 Management Services
The fifth way you can make money from TikTok is by offering management services for creators on the app.
Some creators on TikTok have millions of followers and sometimes this happens really fast and overnight for that creator. It’s like having a business land in their lap.
You could step in and offer services to help them with their content strategy, their creative strategy, maybe managing offers and deals that come their way.
So if you have that background in production or storytelling, you could definitely apply that to offering management services to TikTok creators.
That’s the five ways I promised, but before you exit this page, here is a bonus point on how you can make money from Tiktok
Bonus Point: #6 – Consulting
Once you become a pro on TikTok, and maybe you really understand how someone could take a video that maybe gets a hundred views and help them get 100,000 views, well, you can simply offer consulting services.
This is a really great way to leverage your expertise from the platform and help people who want to be TikTok famous or they want to be creators, actually boost their strategy so their videos get seen by hundreds of thousands, if not millions of people.
Of course, you need to have the background and the experience in this first to offer this as a service. But once you’re there, people will pay to have your experience and your brain on their account.
And if you help them get any deals or influencer agreements, you can even negotiate a percentage or a cut of that deal simply because you are their consultant and you have helped them go viral on TikTok.
So there you have it. Six ways that I see people making money from TikTok today, even while it’s still really, really early on.
Good luck on this Journey.
Feel free to drop a comment on this topic or any other topic you will like me to cover next time.