Learning how to get monetized on TikTok doesn’t have to be as complicated as many people expect. Like most social media spaces, TikTok offers multiple opportunities for creative professionals to earn an income from what they love.
On average, TikTok influencers earn anywhere between $200 and $200,000 per post. On top of that, TikTok also offers ways for brands to advertise their products and services through the platform, with global user spending on TikTok averaging around $50.4 million in 2020.
So, the million-dollar question is, how to make money on TikTok?
What Is TikTok?
TikTok launched internationally in 2017 and gradually began gaining attention across a wide range of audience segments. Currently, the channel is estimated to have more than a billion users, and consumers continue to flock to the platform.
Around 50% of TikTok’s audience is under 34, but new groups are rapidly beginning to explore the space. Older users and celebrities are flocking to the channel in waves, representing a broad opportunity for anyone looking to make money on TikTok.
How To Get Monetized on TikTok in 2021
As the TikTok hype continues to grow, there is a range of opportunities for people to make money through and on the platform. You can do everything from working as an affiliate to creating sponsored posts or even managing TikTok media for another company. Two of the most popular ways people learn how to monetize TikTok are by generating brand opportunities or working as an influencer.
Get Monetized as a Brand
TikTok is full of people ready to engage with companies capable of producing engaging, authentic content. Suppose you’re looking for a way to connect with consumers in younger age groups. In that case, TikTok allows you to speak their language while simultaneously promoting your podcasts (or websites and products) to a new audience.
To make TikTok earnings as a brand, you’ll need to find ways to build your identity and connect with your audience. This includes following the latest trends, getting involved with hashtag challenges, and producing highly engaging content. Brands on TikTok need to:
- Post consistent, relevant, and entertaining content.
- Get involved with new trends and connect with their customers through them.
- Experiment with different types of videos to see what works best
The easiest way to make sure you check all the right boxes in this regard is to partner with an influencer who can help you build your strategy.
Partnering With Influencers on TikTok
Influencer marketing is growing increasingly popular on all social media platforms to capture audience attention in an engaging way. Around 49% of consumers claim they’re dependent on influencer recommendations to inform purchasing decisions. This number is even more significant among younger audience members in search of authenticity.
To begin your campaign, start by searching for TikTok users within your niche. Look for an influencer who not only matches your price range but also makes sense regarding audience engagement and relevance. The right influencer will be able to give you advice on how to use TikTok correctly to showcase your brand. This could include:
- Finding new ways to show off your products in hashtag challenges
- Using tutorial videos to demonstrate your product benefits
- Taking customers on tours of your company to demonstrate authenticity
- Highlighting your “creative process” to let customers see behind the scenes.
Get Monetized on TikTok as an Influencer
If you don’t have your own business, but you still want to stand out and make money on TikTok, the best option is to become an influencer yourself. According to reviews of some of the biggest influencers, macro-influencers can charge around $2k to $20k per post. It takes a while to build up your earning potential as an influencer because you first need to develop an identity and a dedicated following.
Here are a few tips to get you started:
- Find your niche: Most of the people on TikTok belong to a younger audience, but there are a lot of categories of viewers looking for different kinds of content. Rather than trying to create something that appeals to everyone, think about the kind of sub-group you most want to reach. This could be dancers, people interested in magic, or people looking for beauty tutorials - it’s totally up to you.
- Create a brand: Influencers become famous on TikTok when they create a brand and stick with it. Find a video type that works for you and ensure you practice consistency to keep your followers looking engaged. Ensure your brand has a specific tone of voice, a unique theme or image, and something to make it stand out from the crowd.
- Learn from the best: If you’re unsure where to start with your TikTok influencer career, learning from other successful leaders is a great idea. You can discover who the top TikTok influencers are in your niche and see what kind of content they’re creating and who they’re forming the best partnerships with. This gives you a good idea of the brands within your niche that you can work with too, so you can start listing potential TikTok earning opportunities. Make a note of all the techniques your favorite influencers use.
- Find brands to partner with: Track down the kind of companies you want to interact with. Reach out and let them know what you think you can do for their company and why they should work with you.
Remember, as an influencer, you’ll also need to make sure you’re keeping up with the trends. This means tracking what kind of content is making the greatest impact on TikTok at any time.
TikTok has made enormous strides in popularity since its launch in 2017, and has literally taken over the social media by the storm. With more than 800 million active users from all over the world, it offers commendable monetization opportunities for people looking forward to making money on TikTok. Partnering with a professional live streaming solution such as OneStream Live can play a pivotal role in monetizing your TikTok account.
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