Over the last three years, TikTok has become one of consumer’s favorite social media platforms. It is so popular that over 689 million users actively use the social media platform.
While some people are satisfied with using social media for fun, others have found out that a platform like TikTok can become a very reliable source of income. In fact, some creators have become so popular that they are making millions of dollars from the platform every year.
There are a number of ways that you can turn your TikTok creator account into a steady source of income. Due to popular demand, we have decided to cut to the chase and share with you some tips on how to make money on TikTok.
Become an Influencer
Before you can start making money on TikTok, you will need to have established a presence on TikTok as an influencer. The best way to do that is by creating and sharing relevant content consistently. This will gradually build you a following.
There are a number of ways that you can create a successful influencer account on TikTok. Most of them are similar to the advice you would receive for any other social media account as well. First, you create a TikTok account on the app and make sure to choose the pro account version. Pro accounts are reserved for creators and businesses. If your ultimate goal is to monetize your experience, then you will want to go ahead and sign up for a pro account.
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Find Your Niche
The most successful accounts on TikTok are dedicated to creating relevant and engaging content in one niche. The chances are that whatever your hobby is, there is an audience for you. Whether you are into dancing, cleaning, parenting, drinking, makeup, fashion, couponing, and everything in between, you can easily create a following around a topic of choice.
If you want to make sure that you are satisfying your target audience with every post that you create, then you will need to focus most of your content on that niche. This is one of the best ways to guarantee that your audience is interested in watching and interacting with your content every time you post.
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Build an Audience
Speaking of your audience, in order to start making money on any social media platform, be it TikTok, Instagram, or YouTube, you will need to make sure that you build and grow your audience. Having followers is an important step to making money on TikTok, but it is not the only way to ensure that your account is ready to be monetized.
Once you have a significant following on your influencer account, you need to make sure that you can retain those followers. With quality content, your views on each video will remain high and you can encourage your followers to interact with content to help attract new followers to your TikTok account.
New followers are another great way to ensure that your account is ready to become a money-maker.
Read more: 8 Ways To Increase TikTok Views And Get More Followers
Join the TikTok Creator Fund
TikTok started the creator fund in July 2020, and it has steadily built a capacity for supporting TikTok creators for the years to come. One of the most simple ways to make money on TikTok is to join the creator fund and reap the benefits of having a large following on our account.
In order to join the Creator Fund on TikTok, you need to meet three sets of criteria. You need to have a pro account, a minimum of 100,000 followers, and 100,000 total views on your videos in the last thirty days.
Your account needs to be created on the Pro account platform. If your account is currently a personal account, then you can easily switch to a pro account with a simple change in your settings.
In order to join the Creator Fund on TikTok, your account will have to have a minimum following of 10,000. You can see how many followers you currently have by visiting your profile on TikTok.
Lastly, you will need to have a combined total of 10,000 views on your content in the past 30 days to apply for the Creator Fund. If you meet the minimum requirements for followers, then achieving the minimum view count shouldn’t be a difficult task.
Read more: How Much Do Creators Make Per TikTok Video?
How Does It Work?
If you are accepted into the Creator Fund for TikTok, then your main focus is to create valuable content regularly. TikTok will calculate your earnings based on the unique views that you get for each of the videos that you post.
Remember to utilize all of the tips that are available to you for growing your TikTok account to boost the views that you get on the app. Doing so will boost your individual earnings as well.
Host Live Challenges and Competitions
You may have noticed a variety of different challenges and competitions that pop up as you scroll through your TikTok feed. Many of these challenges are things that you will see repeated by different creators throughout the app.
Anyone can start a challenge on TikTok, but there is one thing that you might notice in common between the different types of life challenges and competitions. Brands, influencers, and other popular people will often start a TikTok challenge and use a hashtag to track the challenge back to their cause.
You can build your own brand by both participating in these challenges or even creating a live competition of your own.
Frequently, big brands will reach out to social media influencers to offer them payment for participating in one of their challenges. You could also reach out to brands within your niche to see if they have any offers that might work with your content.
If you really want to get creative, you can start your own TikTok challenge within your following. You can do this by posting a video explaining the details of the challenge. Create a unique hashtag for your challenge and encourage participants to use the hashtag in their own videos.
You might also host a competition or live challenge during a TikTok Live session. You can easily use TikTok to generate excitement and engagement for an upcoming live event. Be sure to post frequent videos to get your audience excited about participating in your upcoming live challenges.
Added Benefits
There are added benefits for TikTok content creators when hosting live sessions within the app. First and foremost, followers really respond to live sessions with creators because they allow your followers a glimpse into your personal life.
Hosting live sessions offers your followers an exclusive benefit that non-followers do not get. This is a good way to build meaningful connections with your target audience.
There is also a monetary benefit of hosting lives on your TikTok account. When you go live on TikTok, you can do virtually whatever you wish (as long as it is within TikTok’s terms of service). During this time period, your TikTok followers can send you gifts, which vary in size and can be exchanged for money in real life. Keep in mind that TikTok takes a commission of 50% for all gifts that you receive.
Read more: How Many Views Do You Need To Make Money On TikTok?
Sell Successful Accounts
One of the old-fashioned ways to make money on social media is to create an account with the intention of selling it. If you have been successful in creating accounts with large followings and positive-looking analytics, then you can make some serious money by flipping TikTok accounts.
The general concept of creating the account with success in mind remains the same. You will create a TikTok account, choose a niche, and then build the audience for that account. Once you have the account built up, you can sell the account to TikTok creators who want to take over an account with an already existing following.
Partner with Sponsors
Most TikTok creators agree that the most beneficial way to make money on the platform is to create partnerships with sponsors. Once you have built a decent following on TikTok, you can start partnering up with businesses and brands that will pay you money in exchange for collaboration.
In some cases, the compensation might simply be free products in exchange for your honest opinion about the products. In other cases, influencers are paid with fixed prices for creating content to promote the brand and its products.
According to most successful TikTok influencers, creating partnerships with well-known brands is the best way to build income through the viral app.
Conclusion
Whether you are starting out on TikTok or already have a decent following, you can start thinking about ways of monetizing your social media and start earning money from it.
Above, we shared a few great and legitimate ways you can make money using TikTok. You are free to do all or pick the ones that best apply to the goals that you’ve set for your TikTok account.
You can read additional TikTok articles here.
