TikTok, a trending application for creating short videos, has become a popular platform to make money online. The major reason behind it is influencer marketing. Through this, people who can influence others can make money simply using their TikTok account.
While monetizing your TikTok account isn’t an easy task to accomplish, it’s absolutely achievable if you have the dedication, strategy, and willingness to learn how it’s done.
TikTok ranks as the 7th most-used social media platform worldwide, with 689 million active users as of January 2021. That’s a big market.
Many people have already figured out how to earn money on TikTok, and some consider it a full-time job.
Today I talk about the best top ways I make money on TikTok, and how you can make money too! The best part? – You don’t have to dance – You don’t have to do any silly skits – You don’t even need to show your face!
Making money online with TikTok is actually pretty easy but some of the methods that people may teach you are a lot less profitable than others. In this guide, I will explain why making money with affiliate marketing proves to be much more profitable than making money with ads, lives, or sponsorships.
You can obviously still make money with these other techniques but it doesn’t seem that TikTok pays that much for utilizing these other options
Top four ways to make money with Tiktok now
- Monetize with ads
- Monetize with lives
- Monetize with sponsors
- Monetize with affiliates
How To Make Money On Tiktok
1. Monetize with ads
If you’ve already established merchandise, this is the most obvious route for moneymaking: create TikToks that show off your products, including all the details that make them unique. Make sure you include a link to your shop in your bio.
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!
2. Monetize with lives
Did you know that you can earn money on TikTok with your live broadcasts?
Accounts with more than 1,000 followers on TikTok can start live streaming and monetizing their videos.
Users can buy coins that they later give away to users who are making live videos. When content creators make live videos and receive donations or coins, they can after exchange them for real money.
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Requirement For Monetizing Live Videos
On TikTok, you can earn money with livestreams by getting donations from your viewers. If they watch your stream (and they like it) they can tip you by sending you “emojis” that they bought with TikTok’s own currency (Coins).
BUT: Keep in mind, that there some rules when it comes to earning money with livestreams on TikTok:
- You need to have at least 1000 followers to be eligible to live stream on TikTok.
- When you want to pay out the coins you earned, you need at least 100 dollars in your account, because the minimum payout is $100.
That being said, to make a noticeable amount of money with TikTok livestreams you will definitely need a very large following. I don’t think that you will be making much money if you have any less than 100k followers.
With that out of the way, here’s how you can buy these coins:
First, go into your profile & click on the “Balance” button.
3. Monetize with sponsors
Another way to monetize your TikTok account is through sponsored content. This is when brands approach you (or you approach them) to feature their offerings in your video. In return, they pay you a fee to compensate for your service.
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You can start by working with smaller brands to build up your portfolio. Reach out to local businesses in your area to see if they’d be interested in getting featured on TikTok. It might be a good idea to charge a minimum fee in the beginning, then work your way up once you start gaining recognition as a TikTok creator.
But if you’d rather charge high and have brands come to you, consider joining the TikTok Creator Marketplace (TCM). For those unfamiliar, TCM is a collaboration platform that allows brands to connect and run marketing campaigns with TikTokers.
However, you need to have over 100,000 followers, be at least 18 years old, and receive over 100,000 video likes in the past 28 days to apply.
So if you’re a new creator, it’s best to focus on making creative TikTok videos that you can share with brands to get some sponsorships.
4. Monetize with affiliates
When it comes to making money with affiliates, below is a step by step breakdown of what I recommend you do.
Remember, you don’t have to promote online tools to do this method, just pick a product that you like and promote it on TikTok! Just make sure there’s an affiliate program for the tool, service, or product you are talking about, otherwise you won’t make any money with it.
Here are the steps…
Step 1. Find an affiliate to promote – Pick a tool or product you want to promote. Most of them will have an affiliate program that pay you 30-50% commissions for everyone you send there way!
Step 2. Talk about the product with a 15 second short video – You record a 15 second video talking about the product. No need to show your face, just use your phones camera to record you computer screen and point at the products website.
Step 3. Mention that your viewers can find your affiliate in your bio (remember you need 1,000 followers to add a link, so if you don’t have 1,000 followers yet, just add it to your comments instead.) At the end of the video tell them how to checkout the tool or product you recommended. You do this by giving them your affiliate link. That’s it!
Other ways You can start making money on TikTok:
- Become a TikTok Influencer
- Grow and Sell TikTok Accounts
- Collect Donations
- Become a TikTok Consultant
- Start A TikTok Talent Management Agency