Millions have joined the so-called, ‘Great Resignation’ leaving behind traditional jobs, and turning to alternative ways to make money. Among the many avenues out there, some have taken their love for video making on TikTok and turned it into a way out of their mundane day jobs.
Here are a few different ways to make income through the app.
Before we get into the different ways you can make money on TikTok, let’s take a look at some of the most popular creators and how much money they make. According to estimates from SocialBlade, the top ten earners on TikTok make anywhere from $17,000 to $500,000 per month.
So what do these people do that allows them to make so much money? While many factors contribute to their success, most rely on one or more of the following methods: sponsorships, brand deals, and product placements.
Consistency Is Key
You need to be consistent if you’re serious about making money on TikTok or most any other side hustles. Posting videos regularly will help grow your audience. The bigger your following, the more attractive you’ll be to potential sponsors.
In addition to consistency, you also need to make sure that your videos are high quality and engaging. Remember, people are watching TikTok for entertainment, so if your videos aren’t fun or exciting, they’re not going to stick around, but will just scroll up to the next video.
Find And Understand Your Niche
TikTok is a massive platform with a vast array of diverse content. If you want to stand out from the crowd, you need to find your niche. Ask yourself
- What kind of videos do you want to make?
- What are you passionate about?
- In what area are you an expert?
When narrowing down your focus, you’ll be able to appeal to people who are more likely to become loyal and raving fans.
Knowing your niche is also essential when it comes to working with brands. If you know your niche, it will be easier to find companies that are a good fit for your content. For example, if you’re a fashion influencer, you could work with clothing retailers and makeup/cosmetic brands.
Hashtags are one of the best ways to get your videos seen on TikTok. When you use relevant hashtags, your videos will show up in the feed of users who are searching for that particular topic.
To find the best hashtags for your videos, do some research and see what’s trending in your niche. You can also use a tool like Tiktokhashtags to find popular hashtags related to your keywords.
The trends change quickly, so you need to jump on it as soon as possible when you find the right one, and be willing to shift gears if it suddenly drops in popularity.
Start Earning Today
The average millionaire has seven streams of income. Creators on TikTok use a variety of ways to make money.
Let’s take a closer look at each of them.
One of the most popular ways to make money on TikTok is by creating sponsored videos. Brands are always looking for new, innovative ways to reach potential customers, and sponsoring a video on TikTok is a great way to do that.
If you have a large following on the app, brands may be willing to pay you anywhere from $50 to $500 for a single sponsored video.
TikTok Creator Fund
The TikTok Creator Fund is a program that pays creators to make videos for specific topics or products. The payout varies depending on the length and complexity of the video.
If you’re not interested in creating sponsored videos or endorsing products, you can still make money on TikTok by sharing affiliate links. Whenever someone clicks on your affiliate link and makes a purchase, you will earn a commission.
Commission rates vary depending on the product or service being sold, but they typically range from five to 20 percent.
Affiliate links are attractive because the company will take care of inventory, shipping, and customer service after the sale.
In addition to sponsored videos and product endorsements, you also make money on TikTok by partnering with brands.
Brand partnerships are similar to sponsorships, but they usually involve longer-term contracts. Brands will typically pay you a lump sum upfront, as well as a commission for every sale that you generate.
TikTok Live is a great way to make money if you have a large following on the app. Whenever you go live on TikTok, your fans can donate virtual gifts, which you can convert into cash. The amount of money you make depends on how many gifts you receive and the value of each contribution.
Promoting Your Small Business
If you’re a small business owner, TikTok can be a great way to reach new customers. All you need to do is create a profile for your business and share videos about your products or services. Then, be sure to engage with your followers and answer any questions they may have.
Some examples of products to promote are makeup, clothing, jewelry, and art.
Another popular way to make money on TikTok is by selling merchandise. Either create your own inventory or partner with a third-party vendor. If you decide to create your own merchandise, design something unique and visually appealing.
Creating a merch store is a significant next step to scale your business to build a brand out of your content. You can sell t-shirts, hats, stickers – really anything you can think of.
The best part is that you don’t have to worry about fulfillment because the third-party vendor will take care of that for you.
Make Money On TikTok
There are many different ways to make money on TikTok. Whether you’re a small business owner or an influencer with a large follower, there’s a method perfect for you. Using some or all of these methods, you can create a steady stream of passive income that will turn into a significant financial cushion.
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