How to make money on TikTok?
If you are new to the TikTok scene, your goal is to gather as many followers. At this stage in your account, this task is extremely difficult. But as your account gets bigger, it becomes more straightforward.
This stage is where you need to figure out the platform and get accustomed to it. Perseverance (and engaging content) is essential at this point. Once you have done this part, only then can you monetize your account and make big bucks. Since most people want to jump on TikTok to earn money, the following are some tips that you need to follow to make more money on TikTok.
Grow and sell your accounts
If you want to make more money on TikTok, the first thing you need to do is grow your account and then sell them. Before you create your videos, you need a niche to target. This niche can be as broad as comedy. Many African songwriters are using the platform to promote their music.
Once you figure your niche out, pumping a lot of videos is the next thing to do. Publish content consistently (daily, every other day, etc.) If your content is engaging, it can become viral. A single video that goes viral can attract hordes of people on the platform who can become a customer of your product.
The most important thing is to grow your influence as much as you can until the point it reaches known brands that can sponsor you. This method is one of the ways where people can make legit money using the TikTok profile.
Get involved in donations
Getting your following to make donations is another popular way to earn more money on Instagram. And you can also do it on TikTok. This method requires you to go live and collect donations from your viewers (much like the way streamers on Twitch earn money).
Your viewers can send you coins as a sign of gratitude for your effort to create entertaining content. Once you collect many coins from your viewers, you can convert them to cash.
Manage campaigns
The other popular method to earn money in TikTok is through campaign management. In this method, you will be working as an influencer agency. You act as a broker or a middle man between the TikTok creator and the brand who wants to work with that specific TikTok influencer.
Your task is to coordinate the TikToker and the advertisers and balance their interests. You can charge them a reasonable fee if correctly done.
Use proven advertising platforms
Using ad platforms is one of the smartest ways to earn money on TikTok. By this point, you have already seen ads on Facebook and Instagram. TikTok influencers can get cash the same way with these ads on TikTok. Doing this method is as simple as googling “TikTok ads”. Register for an account to get complete access to the ad platform.
If you have ever run paid traffic before, you know how to run the ad platforms. It requires a small budget and a little experimenting to get done. Creating ads this way helps you to reach your profile to wider audiences.
Be a Social Media Manager for TikTok
If you do not plan on gathering a following, you can manage other influencers’ TikTok accounts. Try to offer management services to creators on the platform. Since influencers need time to create their content, they need someone to pilot their accounts. And that could be you! As an example, some TikTok stars grew their following in one blow (even overnight). It could get a little bit overwhelming, stressful, and pressuring. So, they are likely to hire someone to do the managing for them.
It is a kind of business where you need to offer services to others with the content strategy and offer them creative blueprints. Here you can manage offers and deals that come on their way.
If you are a person who is good in storytelling or having a background in production then you need to apply the management services to TikTok creators.
Offer consulting services
This will be the simple tip on earning money; once you have become a pro in TikTok at this stage you know how to create a video that will reach 100 views or more than 100,000 views. You can offer consulting services on this to the ones who are new to Instagram.
Corporations often use advertising to reach out to their target audiences. And to survive in this tech-filled era, you need trendy social media accounts like TikTok. Most of the time, these established companies do not have the necessary knowledge to market their products using social media platforms. Therefore, they ask for consultations from experts from that field.
Let us assume that by this point, you are already an established influencer and a professional TikToker. Companies will reach out to you and ask for your golden advice. It is a win-win for both parties – you get your consultation fee while the company sells more products.
By doing this, you will look more like an expert in TikTok. Other aspiring TikTokers will also reach out to you for bits of advice. Although your consulting services may not help them to reach millions of people, they will still help them to reach a hundred views or more.
How to monetize your TikTok account in South Africa
There are plenty of success stories in TikTok. However, not all can have the same happy-ever-after. If you want to earn some buck using TikTok, we strongly recommend running monetization on your account. Before you can monetize your TikTok profile, there are a few requirements. Aside from the previous methods, our editors gathered more ways to make MORE money.
Here are the few steps that will let you know how to monetize the TikTok account:
Apply for sponsorship
TikTok is a platform where you can perform all kinds of activities like audio with songs, videos, and other clips. You will never know when a video gets viral. Who knows, maybe yours is next! In the past few weeks, there are many trending audio clips. And companies are requesting TikTok influencers to include their brand names on their posts. Essentially, this method is sponsorship.
Smaller accounts with 25,000 followers can charge up to $25 per post with brand mention. To get these sponsorships, you can either apply for one or get it automatically. TikTok influencers with a massive following do not have to apply for sponsorships – the brands themselves reach out to them.
Sell your merchandise to your fans on TikTok
In South Africa, many creators directly monetize their audience by selling their merchandise. This kind of monetization does not rely upon whether the video went viral or not. As long as you have real fans, you can earn money by selling directly to them. The one thing that separates TikTok from other dominating social media apps is that it allows you to sell your products directly in the app.
The designers of TikTok have created a template for more than 180 different products to support the creators. Most designers will add a link to their personal website in their bio so that the supporters can buy the items. It will enhance the relationship between the creator and buyers, and they can directly buy the product from them.
Promotion
Audio sponsorship is one of the best ways to earn money on TikTok. You can release content for the brands in exchange for money. Through your branded content, you can help the corporations in South Africa to sell their products, and many creators will exploit their videos.
Most small businesses use TikTok as the creative side of promoting their products, so approaching such kind of business will be helpful. The creator can add some humor or add music to the content to reach wider audiences. It will help you to set up more ads and also increase the follower count.
Get paid
TikTok is the only social media platform where a creator can get success while earning money. TikTok plans to launch the Creator’s fund of $200 million to expand its business by $1 million by 2023.
As of this writing, it is still unsure how much a single South African Tiktoker can get. But to join this exclusive group of influencers, you need to get your account verified. For this to happen, you need to reach at least 10,000 followers and 10,000 viewers. Once you reached the minimum criteria given by TikTok, you will receive a notification to join this fund.
Convert gifts to diamonds
In South Africa, the favorite creators will go live then their followers will send them some coins as a token of appreciation. TikTok users can purchase these coins inside the platform, and this is one of the most common ways of earning money at TikTok in South Africa.
Once you accumulate enough coins, you can turn them into diamonds that can be cashed out in the future. However, buying coins is only for users aged 18 years old and above. Moreover, this requires the TikTok influencer to be 18 years old and over. TikTok transfers the money to your Paypal.
Potential earnings from TikTok
Have you ever wondered how much money you can make on TikTok? It varies based on multitudes of factors. If your video goes viral, then the earning may be lucrative. Going viral also snowballs into good things. It can lead to an increased following, which will then lead to more profit.
As per the reports, it notes that the average earning of TikTok users range between $500 and $2000. However, your account needs to have 100,000 followers. For the top TikTok account users, they may earn between $50,000 and $150,000. Not bad for creating short pieces of videos, eh?
The other way of earning money is based on reviewing statistics as it will predict the profits. So, as per the reports per video view on Instagram, they charge the brands between $0.01 and $0.02.
Along with this, we have a creator’s fund on TikTok where one gets paid if they create content full-time across the platforms. When it comes to TikTok, you do not have any fixed salary but based on your published videos. And if the content library is huge enough, it can lead to creating more money than any other job.
The amount of money earned through TikTok also varies depending on your number of followers. If you have more than 1.6 million followers, you can charge up to $600 per sponsored post on TikTok.