Have you been trying to make money on TikTok without any bit of success?
Do you know that as a TikTok star you could make close to or more than $5 million dollars in one year?. That is the exact same amount TikTok star Addison Rae made from her TikTok earnings some years ago.
Could TikTok be a future career for you? Keep reading to find out!
Most teenagers and young people now have their future careers on the web these days and tik tok just happens to be one of those mediums of making money.
TikTok has produced modern young millionaires who now make money without needing any capital or skill set to start a job.
While some young adults keep working hard to pursue these new age careers, others are concerned by looming questions such as: Is TikTok lucrative? Can I really make money just from short skits?
Josh Richards, an 18-year-old TikTok millionaire gets $1.5million annually from making videos on Tiktok. Surprised? Don't be. There's a lot of money to be made in the online space just by creating engaging and mind blowing contents that people love.
For the record, Tiktok doesn't pay anyone on its platform. As a TikTok user, you can earn through the following means:
· TikTok Gifts
· Talent Agencies
· Personal Brand Launching
TikTok crossed the 1 billion active monthly users mark.
This simply means that taking your brand into this social video app and applying some of the strategies we’re going to x-ray here automatically makes you part of those trying to grab the attention of the 1 billion TikTok users.
What Is TikTok?
TikTok is a Chinese social network app that offers you the opportunity to record short videos with hundreds of visuals and sound effects.
It’s the world’s fastest-growing social media network. It has been downloaded over 2.6 billion times worldwide since its release. Hence, if your brand’s target audience is between 13 and 60 years, you need to be on TikTok now.
You can use this app to chat, shoot video clips, and broadcast to display your skills. TikTok is used by millions of people daily. Furthermore, this figure is growing by the day. This growing trend has forced entrepreneurs, webmasters, and marketers to focus their attention on the application.
Why are people rushing to TikTok?
People are rushing to TikTok because, despite increased interest in TikTok, the number of content in the application is still below the desired level.
So, TikTok users who are skilled at creating quality and engaging content can achieve unimaginable views with ease due to low competition. The beauty of using the platform is that it’s easy to go viral, even in a single night.
You hear people discussing the same issue a few years ago about Instagram. Today, Instagram is an advanced marketing tool that you no longer need millions of followers before making money online.
If I may ask! Can TikTok achieve such a landmark success as Instagram? People’s belief in TikTok becoming the next big thing has compelled individuals, and brands to eagerly jump into the platform. Aside from creating brand awareness, many of them are learning to make money with this app in the process.
Those who failed to take their businesses to Instagram at the early stages of its transformation learned one big lesson: that it’s best to start marketing your business on the app before the market’s potential and value is fully awakened.
It’s a good idea if you become one of the early users of TikTok before its market potential explodes beyond what it’s now.
Can you make money from TikTok?
It all depends. The average TikTok user can expect to earn between $10,000 and $20,000 per month if they have about seven million followers.
Users achieve this milestone by using marketing to promote products from emerging brands all over the world.
Celebrities, on the other hand, use the app to earn seven figures from a variety of businesses and brands through endorsements and sponsorship.
For example, According to Influencer marketing hub, TikTok stars Addison Rae Easterling, 19, with an estimated following of 64.6 million earned $5 million in 2020 while Charli D’Amelio, 17, with an estimated following of 92.4 million earned $4 million dollars. They remain top earners on TikTok to date.
How the TikTok Algorithm works
TikTok’s basic function is for users to record videos of themselves lip-syncing, dancing, or acting out sketches. You can use videos, or TikToks, for up to 15 seconds long. Also, it offers you the opportunity to connect multiple clips for a total recording time of up to 60 seconds. TikTok recently increased the time limit for most users to three minutes.
Do you know what? You can record longer videos outside of the application and upload them into the platform.
TikTok also includes video editing and personalization tools. Users can add songs, effects, filters, and sound bites to their videos by accessing a library of songs, effects, filters, and sound bites. They can also “duet” with someone by replying to a video, creating a split-screen, and reacting in an infinite number of ways.
Another unique thing about how it works is the more people watch your videos, the better your chances of gaining followers and achieving fame. The great thing about TikTok is that it doesn’t take months to build a large following.
If you create a video with trending audio that everyone enjoys and use strategic hashtags, your video can go viral.
How to make money from TikTok
TikTok allows you to make money! Yes, that’s the reality. As opportunities to make money using the app grows, so do people develop an interest in being part of it.
TikTok influencers use a variety of monetization strategies. You’ve got everything in place, so let’s put this platform’s power to work and start making money on TikTok.
1. Sell your content creation services
Another way to monetize TikTok is to offer account management services to content creators. Some TikTok creators have millions of followers and are likely to surpass that number in an instant.
You can imagine how fast it’ll be to grow your brand on TikTok and start making money from it.
As people’s TokTok accounts grow, that’s how fresh opportunities to make money on TikTok present themselves at your feet. This surge most times surprises content creators, who may require your services.
This is where your work starts. You can offer them services such as developing content, studying contracts, creativity strategies, or evaluating the offers that come their way.
So, if you believe you have a strong foundation in negotiations, creativity, or storytelling, you can use these features to provide content creators with management services.
2. Affiliate Marketing
Outside of the app, affiliate marketing was already a great way to make money online.
TikTok, on the other hand, has recently begun testing the link in the bio. Remember this feature that is already common on Instagram.
With this, you can through your affiliate link direct people to your landing page, website or blog, YouTube channel, etc., and earn commission each time someone clicks on the link and purchases something.
3. Selling your own products
TikTok, like other social network platforms, is an important tool for you to boost your personal branding. You have to be careful while interacting with your audience here because it can make or break your brand.
You can use TikTok to sell your own products or services while interacting with your audience.
Whether through videos or live events, social media is an appealing distribution channel for increasing sales. The process is similar to the previous point. The only difference here is that you won’t share your money with anyone.
4. Make money from creating content
In addition to the methods already mentioned, TikTok users can earn money by monetizing their videos within the app.
However, this option is currently only available in the United States. You must receive an invitation from the platform before you’re eligible for the TikTok Creator Fund. You also get the invitation if they’re sure you publish original and engaging content.
They expect you to be over 18 years old and have 10,000 followers. To be eligible as well, you must have at least 10,000 views on your posts in the previous 30 days.
There are creative ways to earn on TikTok. That, however, can only happen if you’re registered with the platform and become part of the next generation of online influencers.
Tiktok makes the process of making money online easier than its main competitor, Instagram. So, I’ll implore you to leverage the enormous this social video platform offers to start making some extra cash for yourself.
5. TikTok Live + Gifts.
Live videos aren’t limited to Instagram and Facebook alone. TikTok offers you this feature as well. It’s another way to earn extra income with TikTok.
To participate in it, you need to have more than a thousand followers. Its monetization process is similar to that of YouTube in some ways.
In other words, during the live stream, users can make donations. And you, the content creator, will get half (50%) of the money collected. You can also convert the donation you get into dollars. The remaining half, (50%) is divided between TikTok and apps stored in the cell.
You can do anything you believe your audience will like in a live video. You only have to ensure it’s purposeful, educative, entertaining, and engaging. Hardly will anyone give money without you adding any value to his life.
You can also use Live Commerce to display live products and interact with your audience. But keep in mind that, as with the previous strategy, you need to direct your customers to where they can purchase your product or service.
When others enjoy your TikTok contents, they award you gifts, which are paid using the coins that each user has purchased.
These gifts are converted to diamonds on your user profile when you receive them. As a star, these diamonds represent a medium of praise. Although diamonds cannot be purchased, they can be exchanged for actual money. When you have a sufficient number of diamonds, you can cash them out into your PayPal account.
Brands have flocked to TikTok, paying TikTok stars to make promotional videos for them.
Some musicians have followed suit, taking advantage of the opportunity to promote their recently released singles or tracks. They pay you to make a video with their song. Since the gifting option is only available to those aged 18 and up, this is another method to profit from TikTok.
These businesses or musicians, on the other hand, would only approach you if you had a large number of followers. A music promotional video might earn you as much as $1500. That is, if you have a large number of followers and can get a lot of people to watch your video.
One of the most profitable ways to make earn money on TikTok is through a sponsorship. Large corporations have spent a fortune on influencers to publicize their brands.
This is a key feature of the application. The platform contacts the user in this case to create content for a specific company. Videos created for this purpose are tagged with the phrase “contains paid promotion.”
For those who enjoy shooting creative videos, these paid partnerships can be a great way to make a lot of money.
The values, however, vary depending on some pricing criteria, such as the number of followers, engagement, likes, etc.
7. Talent Agencies
When popular brands and music labels saw an opportunity in TikTok's advertising prospects, they took advantage of the fact that some of the children were underage and underpaid them.
An association representing more than 70 TikTok stars was formally founded in January 2020. TalentX is the name of the company, and Tal Fishman is its president. Tal Fishman is a popular YouTuber with a 15 million-subscriber channel.
Warren Lentz (CEO), Jason Wilhelm (CEO of TalentX Gaming), and Michael Gruen are the other founders (co-head of business development).
TalentX was founded to assist TikTok artists and performers make more money through business collaborations and promotional videos. You can earn $20,000 per promotional film with their aid. If you work with Talent Agencies like these, being a TikToker can be a lifelong career.
8. Personal Brand Launching
Aside from the fame, being a TikTok star opens doors to many opportunities. For example, some TikTok stars are given the opportunity to socialize with members of society's upper echelons. Some may have the opportunity to interact with superstars such as rap or pop stars, as well as meet significant people.
As a TikTok celebrity, you gain a larger social media following. Your other social media sites would be flooded with people who are enthusiastic about what you do. This is an advantage in and of itself because it signifies you have a larger online footprint. That's a bonus in a world where marketing and thriving online is all the rage.
Many TikTok celebrities have utilized their enormous following to launch their own brands and businesses. You may have a lifelong changing job with several 60 second videos if you know how to monetize your content and never stop developing items that would attract a large social media following.
Using YouTube as a source of revenue on TikTok is another option.
Many TikTokers use YouTube to re-share their most engaging videos and snippets with a much larger audience. It might be much easier to see a financial return on popular content thanks to YouTube's established advertising system.
How much money can a TikTok influencer make?
There isn't any limit to how much you can earn on TikTok as it mostly depends on your hard work, determination and large social media fanbase. It also depends on your engagement and how well people frequently view your TikTok contents.
Although TikTok is extremely new, despite its enormous popularity, there aren't many firm figures on it yet. Some of TikTok's top influencers, on the other hand, have tens of millions of followers and have monetized their huge popularity.
Those users earn money in a number of ways, the majority of which are unrelated to TikTok. The most prominent TikTok influencers figure out how to direct their followers to their other social media accounts. Brands are more inclined to extend an offer to influencers who have a large following.
Social media networking has grown in popularity, especially since the advent of smartphones. You can earn a huge amount of money while doing what you love. Besides, TikTok isn't the only way to make money with a large social media following. If you can create highly engaging content, YouTube and even Instagram could be greater sources of income.
The most crucial thing TikTokers should keep in mind is that the internet is a large place. You'll need to build a foundation on sites other than TikTok if you want to solidify and expand your reach. Increasing the number of people who follow you on Instagram, YouTube, and Twitter will help you improve your entire online visibility.