Six Ways To Make Money On TikTok
Six ways people actually make money today from TikTok. And read on until the end. I’m going to share with you why TikTok might be more powerful than even Instagram. I definitely have my eye on TikTok and I’ll share with you all my thoughts at the end of this article.
Yes, another social media app that a lot of people have their eye on and a lot of people are making money from. So based on my research, here are six ways that I see people monetizing TikTok today.
Growing And Selling Accounts
The first way people are making money from TikTok is growing accounts and then selling them. So 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 to attract and draw that person who would be the ideal customer for your product.
So there are people in the 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 legitimate 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 that people are selling products is through TikTok live. They are launching products while live streaming or they’re actually holding kind of 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 who love TikTok, and you just want to grow a following around a certain topic and really 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 going live and collecting donations from viewers. This feature of TikTok, I find fascinating. It’s really a built in monetization platform, literally from day one. So 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. What to do with these coins? The way this is designed is that when one of your favorite creators is going live, you can actually send them coins as kind of a way to give 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. It’s basically TikToks currency.
So if you build up a profile yourself, you have a lot of followers, your followers have the ability to donate coins to you, which turn into diamonds in your account, which you can then convert into cash through PayPal.
On the Chinese version of TikTok, that app’s 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 that they sell. So it’s kinda like a shopping channel.
Hold An Auction
You can go live, hold an auction, from what I can see, and people can buy your product while you’re live through the shopping cart feature. So my guess is this feature is going to come to accounts worldwide sooner rather than later.
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. So the same concept applies to TikTok.
You can be the middleman or the broker between a creator on TikTok and a brand who wants to work with that influencer. So from creating the agreement, managing both parties, making sure the deliveries are all met, just being that coordinator, you can charge a service fee to manage campaigns like that.
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 based on TikTok brokering that agreement. So that’s why there is already a service where other parties or agencies can make that agreement outside of TikTok. It helps brands save a little bit of money.
Using The 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 position yourself on Google right now. TikTok ads and sign up for access to their ads platform.
This is pretty self-explanatory if you’ve ever run paid traffic before, but if your marketing on TikTok, it might be worth to create a few ads, putting some budget towards experimenting there and seeing what happens.
Maybe you can sell more of your products through TikTok.
The fifth way you can make money from TikTok is by offering management services for creators on the app. So you might’ve seen this, but 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 so 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.
But if you have that background in production or storytelling, you could definitely apply that to offering management services to TikTok creators.
Last but not least, 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, you can simply offer consulting services.
So 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 that 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 to making money from TikTok today, even while it’s still early on. So let’s go back to my first point at the beginning of this video. Why do think that TikTok might be more powerful?
Leverage The Opportunity
The way I see it, Instagram stories are kind of similar to TikTok videos, but they expire after 24 hours. This is where TikTok is powerful because it actually is more like YouTube, meaning you can publish a video today, but maybe the algorithm picks it up months later and starts pushing that video into the feed of people who would like that video. That has a lot of power to it because again, something you make once doesn’t disappear after 24 hours.
It can drive a lot of traffic and eyeballs to you months after months. That reason alone is why people are getting sometimes millions of views to their TikTok videos with very few followers. It’s because the algorithm is picking up your video, pushing it out.
There’s a lot of interests and not a lot of content. So the algorithm is pushing it out to the people who it thinks is going to be receptive to that content. There’s a possibility to wake up to millions of views with very few followers.
In today’s day and age, I don’t think there’s any other app or platform that can give you those kinds of results right now.
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Before You Leave…
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