How To Make Money On TikTok
So you heard about it too? Now you are researching how to make money on TikTok. Well, your search is over.
Today, I will teach you how to make money using TikTok, the fastest-growing social media platform.
Launched back in 2016, TikTok has over 800 million users actively engaging with it every month. This makes it 9th on the most popular social media sites.
Yes, that puts it ahead of sites like LinkedIn, Twitter, Pinterest, and Snapchat.
There were over 2 billion downloads by April 2020.
Considering the app was launched in 2016, you can say that TikTok was able to double its numbers in just under a year.
Why am I telling you all this?
I am sharing these astonishing TikTok statistics to open your eyes to the goldmine that has been in front of you this entire time.
With over 2 billion people already using the app monthly, making money out of TikTok should be easy, or shouldn’t it?
To prove my point, I compiled this massive guide, to show you just how much money you can make using TikTok.
How To Make Money On TikTok (Proven Strategies)
Now, there is something you need to know before we get started.
Just like Instagram, during its early days, people didn’t care much about it and viewed it as a platform where young kids share pictures. Fast-forward a few years now, look at what IG has grown into.
The same thing is happening with TikTok. People aren’t sure what to do with it. Most of them are still on the fence, but those who are already in it, are raking tons of money.
Here is my point:
You have a very small window to join in and start making money on TikTok before big brands and companies start ruining the party.
To do that, use these strategies to have your spot at the table.
#1. Growing and selling accounts
This is a very lucrative strategy for making money on TikTok, and so many young people are already earning thousands of dollars regularly by just doing this.
Just like Instagram, you pick a niche (industry), and create engaging, and entertaining content around your chosen topic.
The idea here is to get the content to go viral and possibly attract potential customers for your products.
Well, it sounds complicated but it is not.
People are already doing it and it’s working.
All you have to do is pick a niche you understand pretty well, say the makeup niche.
Go ahead and create a TikTok account around the makeup industry, call it whatever you want but make it sound fun and memorable.
Start creating entertaining content around the topic.
Don’t worry if you don’t have the products to sell, because that is not your problem. Your challenge, for now, is to grow this account to a sizable following, and then sell it to brands.
Once interested companies get hold of the account, it becomes easy for them to sell products.
#2. Ask for donations
I find this feature fascinating.
With this method of making money on TikTok, you go live on the app and start collecting donations from your viewers.
It’s more or less the same process you would on Twitch.
Where do the donations come from?
Well, it turns out, that there are in-app purchases on TikTok in the form of coins. And to access them, just go into your profile and order the coins.
These coins aren’t expensive either, for just $1.39, you get yourself a few hundred coins.
Now, whenever your favorite creator is streaming live on TikTok, you can appreciate them by sending the coins. Once they receive the coins, they can exchange them for diamonds.
The TikTok diamonds can be converted into cash via PayPal.
#3. Accounts Management services
As they rush to be on TikTok intensifies, the opportunity of making money managing accounts grows at the same rate.
Everyone, including top celebrities and Fortune 500 companies wants the piece of the cake, but they are too busy to participate in the hunt, so what do they do?
They instead hire professionals like you to help them grow their company’s TikTok accounts.
Here is a real-life scenario:
A creator all of a sudden goes viral and his account bulges by millions of followers. That is like a business landed on his lap. And it happens all the time.
This is where you come in.
Step in and offer your expertise, helping them manage the account by drawing a content strategy. This can be your way of making money on TikTok.
#4. TikTok Ads
This is another surefire way of making money on TikTok. The app comes with an ads platform, if you have used Facebook and Instagram ads, this should be easier for you.
Ideally, you pay TikTok to put your products in front of a large and target audience.
Use TikTok ads to drive traffic to your online store. This is where customers can order your products or services.
What if you don’t have products, can you still use TikTok ads?
If you don’t own products, you have two options:
- Promote someone else’s products and make a commission for every sale. That is affiliate marketing 101.
- See the next strategy of how to make money on TikTok
Consulting is the best way of making money on any social media platform, and that includes TikTok.
Here, instead of exchanging your time for the money, you are exchanging your skills.
As mentioned earlier, brands wish to grow their accounts and sell products on TikTok. But there is one problem.
They don’t know how to do that.
As someone with adequate experience and an insightful understanding of the platform, you are in a position to offer them advice.
Also Read: – How To Make Money Programming in Kenya
If you can help customers get what they want, they will open their wallets wide open.
Ideally, companies are looking for fast results. If you can help them achieve say 100K views fast, you can make easy money on TikTok as a consultant.
The attractive thing about this strategy is that you don’t have to do any work. Just help come up with a strategy and leave the rest to the client.
What if they want you to execute the plan?
That is an invitation to charge more. If they want you to come up with a strategy and execute it, ask for more money. Take a few clients like that and you will be off living on a beach with just a laptop and a glass of juice.
What to do next
Now, it is up to you to implement these TikTok strategies to enrich your pockets. Remember, have a plan, and stick to it.
And remember, there is no secret to success on TikTok, other than being consistent and learning from what is working.
Do not forget to share this guide with your friends to help them too.
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