Despite only starting internationally in 2017, TikTok has quickly established itself as the go-to source for what’s trending in society, politics, fashion, and beyond. TikTok is a force that is rapidly expanding year after year, and it is predicted to reach two billion users by 2024. The short-form video app has a big Gen Z user base, which means a lot of marketing potential for companies. Here, we’ll share useful tips on how you can make more money on TikTok, either by going live, or watching live videos. Read on.
How To Make Money on TikTok
When you have a better grasp of your target demographic, deciding how to monetize TikTok users becomes easier. There is no one way to monetize, but the greatest earners typically have a number of complimentary income streams. TikTok offers nearly limitless potential for sponsored content and organic marketing. Here’s how you can make money on TikTok:
#1. Participate in the TikTok Creativity Program (formerly known as the TikTok Creator Fund).
Users with a large following may want to attempt earning money through the TikTok Creativity Program. This program, announced in February 2023 and inaugurated in May, will replace the TikTok Creator Fund.
US-based producers with at least 10,000 followers and 100,000 authentic video views in the last 30 days are eligible to participate in this initiative, which is still in testing as of May 2023. More customers should be able to access the software in the following months.
Eligibility:
- To sign up, users must be at least 18 years old.
- Users must have a minimum number of followers and video views.
- User accounts must be in good standing.
- Creators who are already members of the TikTok Creator Fund can transfer to the Creativity Program.
#2. Sell merchandise and other items to your fans.
TikTok is an excellent platform for monetizing almost any type of video. Creators, whether they are a dancer, a singer, or a comedian, can develop and sell merchandise to their most devoted admirers.
And, with so many print-on-demand companies on the market, there is a plethora of items to pick from. T-shirts, tote bags, pillow covers, hats, coffee cups, stickers, notebooks—or any combination of products—could be sold.
Profitability is not the only advantage of selling print-on-demand products. Owning branded apparel allows your fans to feel a stronger connection to your personal brand, and every follower who wears your merch spreads the word about your company.
#3. Go live and collect virtual gifts.
LIVE Gifting is one of TikTok’s most valuable options for creators wishing to monetize their live-streaming content.
Most social networks offer a live-streaming capability, but TikTok is unique in that it allows followers to express their gratitude in real time by giving virtual gifts that may be redeemed for payment.
Engaging with users in real-time is ideal for developing meaningful relationships with your followers. Audiences with a deep connection to a creator create a personal stake in their success, therefore going live can assist to enhance other monetization sources as well.
#4. Join forces with TikTok influencers or other brands.
TikTok’s Creator Marketplace is one of the most innovative methods for its creators to generate money.
The Creator Marketplace connects the appropriate companies with the right influencers, creating collaborations that are quick and simple for both parties. TikTok makes it extremely simple to generate lucrative sponsored content.
Brands interested in running an affiliate marketing campaign can explore the marketplace and swiftly shuffle through material created by creators they know are willing to work with brands.
The Creator Marketplace functions as an influencer agency, allowing both parties to signal their readiness to collaborate, alleviating some of the awkwardness that marketers may face when approaching influencers on other platforms.
#5. TikTok ads management allows you to create in-feed ads.
TikTok has a plethora of excellent organic marketing opportunities, but if you’re prepared to pay a little money to increase the reach of your content, you may consider designing your own in-feed advertising using the TikTok ads manager.
TikTok adverts display in viewers’ “For you” feeds and play automatically, just like any other TikTok video. You may ensure that your videos reach the viewers who are most interested in your products by using paid adverts.
But the best thing is… TikTok’s ad manager works in tandem with Shopify. That means you can create TikTok advertisements, choose a target audience, and track the performance of your ads all from your Shopify store. TikTok might be one of the most effective online marketing tools at your disposal.
#6. Collect donations from supporters to crowdfund initiatives.
Crowdfunding is one of the most accessible ways for creators to make money. You put a lot of time and effort into developing content for your fans, so providing an easy, no-pressure way for them to give back is ideal for establishing a consistent income stream.
Depending on the type of cash you want, crowdfunding can take several forms. If you need startup cash for a certain project, you can rally your supporters by establishing a funding target and holding live fundraising events.
#7. Gather “tips” from your audience.
Consider employing a tipping platform to receive donations quickly and easily. Tipping platforms function similarly to a traditional tip jar, and viewers who enjoy your videos can express their appreciation with a small gift. Fans have the option, but it is not required, and they can donate any amount they choose at any time.
#8. Sell fan subscriptions.
Crowdfunding works well for large projects, and tipping is the quickest way to gather donations. But what if you want a more consistent passive income stream? Consider using a creator-based subscription network.
Subscription-based income models are ideal for content providers because you can keep individual subscription costs low while focusing on building your subscriber base.
A low-cost monthly subscription of, say, one dollar is an easy sell to a single devoted admirer. When you have a large number of devoted followers, those dollars start to pile up.
How to Make Money on TikTok By Watching Videos
If you regularly watch TikTok videos, then use these extra activities to help you earn money doing something you already enjoy.
#1. Provide Critiquing Services
If you are up to date on current trends and understand what motivates viewers to pause and watch a specific video while scrolling through TikTok, your knowledge would be a valuable asset to content creators. Offer video critiquing services to existing TikTokers in order to help them improve their content and make more watchable videos. After all, the goal of creating TikTok videos is to reach a large number of people in the hopes of going viral.
Offer your skills as a one-time or ongoing service. You may be the person TikTokers turn to when they want to know why TikTok isn’t distributing their videos or why their viewers aren’t sharing their material.
#2. Make a YouTube Channel for Reactions.
Begin your own YouTube channel dedicated to your TikTok reactions and earn money at the same time. Stream the films live on your channel while filming yourself to provide your fans with direct access to your reactions to hilarious or startling videos.
Allow adverts to appear before your videos begin to earn money with your YouTube channel. This will result in a passive income. The more people that see your films, the more money you will make. Your revenues are determined by the amount of views your YouTube video receives, as well as a commission received each time someone clicks on an ad. Increase your views to earn more money.
#3. Follow other TikTok accounts
Even as you expand your personal TikTok account, keep researching to see how other content creators succeed on the network. Follow viral accounts in your niche and pay attention to the types of material they provide.
Many TikTok stars may generate material on occasion with the intention of enticing their viewers to make a purchase through their accounts. Learn their strategies so that once you’ve created your own following, you can share money-making tips with others.
#4. Create a TikTok Tips Niche Website
Because TikTok is so popular right now, many individuals are interested in creating their own accounts and joining in on the fun. Be the starting point for them, and use your own website to give advice on making TikTok videos, managing a successful account, and creating the most popular sorts of content. Your knowledge could assist new TikTokers in creating their own great social media accounts.
Consistently publish material to establish oneself as a platform specialist. Include affiliate links to things such as ring lights, cameras, and other TikTok-related items that you believe are worthy. Earn money for watching TikTok by earning a commission on all sales made through your affiliate links.
How To Make Money On TikTok Live
#1. Make or sign in to your TikTok account.
You must either create or connect in to an existing TikTok account before going live. TikTok makes it simple to sign up for an account, including Google, Facebook, and Apple login options.
#2. Check to see if you are eligible for Live gifts.
This step is entirely optional, but if you’re wondering if you qualify for Live gifts, there’s an easy method to find out. Once logged in, simply click the profile symbol in the bottom right corner, followed by the three lines in the top right corner. Before clicking the “LIVE Gifts” icon, select the “Creator tools” option. You’ll see whether or not you qualify after clicking the icon. You’ll also be given the opportunity to go Live right away.
Also, keep in mind that corporate accounts and accounts with fewer than 1000 followers are ineligible for the Live Gifts function.
#3. On the bottom bar, click the create (+) icon.
Now, let’s talk about how to get your live stream up and running quickly. Fortunately, TikTok makes it simple. All you have to do is click on the bottom bar’s center, just like you would to add a standard post.
#4. Go live by scrolling to the Live button!
After clicking the Create button, all you have to do is swipe to the Live option to get started. Before going live, you can customize your experience by selecting from a variety of effects, filters, and other adjustable features. You can experiment with them to see how your Live will look before you start broadcasting.
When you’re ready, click the red “Go LIVE” button to begin your webcast!
How Many Views Do I Need To Get Paid On TikTok?
That is dependent on the monetization opportunities you pursue. To be considered for the Creator Fund, you must have at least 100,000 views in the last 30 days. Even yet, if you know how to monetize your account, you don’t need that many views to make money on TikTok.
How Does TikTok Pay Monthly?
TikTok pays between $0.02 and $0.04 per 1,000 views, according to accounts from prominent influencers. These are payments received through the TikTok Creator Fund reports. TikTok launched this scheme in 2021 in an effort to recompense content providers for developing content for the platform.
Can I Make Money On TikTok Without Followers?
Influencer marketing and TikTok ads can bring attention to your e-commerce store even if you have no followers. To get paid directly by TikTok via their Creator Fund, you must have at least 10,000 followers and 100,000 video views in the last 30 days.
Do Nigerian TikTokers Gat Paid?
TikTok has evolved into a viable platform for content providers, and TikTokers with more than 100,000 followers can make a sizable sum of money. They can make anywhere from $200 (approximately $100,000 in Nigerian money) to $1,000 (half a million naira) every month using social networking.
In Conclusion,
Creators are no longer only artists. They are artists, entrepreneurs, marketers, salespeople, accountants, founders, and CEOs, among other things. Stars in the creator economy are self-made via their own ingenuity, passion, and desire to create something unique.
For artists, time is money, and getting more money from your art gives you more time to create. If the money isn’t rewarding enough on its own, the extra time it buys will be. TikTok is one of many platforms that lets producers earn money online. Do what you do best—and be paid to do it.
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- HOW DO PEOPLE MAKE MONEY ON TIKTOK: Free Tips in 2023
- TIKTOK FOR BUSINESS: Complete Guide and What You Should Know
- HOW DOES TIKTOK PAY YOU
- TikTok Marketing: Is TikTok Good for Marketing? 2023 Strategies
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