How do TikTokers also make money? And is this the business you want to pursue – from the viewer to the creator? Here’s what you need to know:
From hilarious animal videos and viral dances to creative visual tricks and pantomimes to popular songs, TikTok has something for everyone.
Like Instagram, Facebook and Youtube, Tiktok has a live broadcast feature where you can chat and communicate with your audience if you have at least 1000 followers.
Live TikTok has more than this and another way you can make money with TikTok.
This article is all you need to know on how to pay with TikTok, including how to get more video ads and how to make money with sponsored contributions.
Contents
How to Make Money on Tiktok
TikTok has been growing rapidly in recent years. The UK has an estimated 17 million active users per month, an increase from almost six million by 2020. In the meantime, TikTok is well on its way to reaching 1.5 billion global users by 2022.
So, how do TikTok users make money from it?
There are three main ways to make money from TikTok:
- earning money directly from TikTok through its Creator Fund
- partnering with brands to post sponsored content
Top brands are increasingly turning to “micro-influencers” when promoting the market, instead of celebrities, athletes, and public figures who remain at the top of the hierarchy of influence with millions of followers.
In September 2016, Loreal teamed up with 5 beauty bloggers in the UK for the campaign. None of these beauty bloggers have another celebrity equivalent, but their combined reach has more than 5 million viewers involved.
Why are markets switching to small influencers? Because micro-influencers are narrowly specialized, they are closer to their followers with very good conversion rates. At TikTok, participation is very important. The higher the level of involvement, the greater the chance of paying by mail.
Once you have built your own brand and have loyal fans, it’s a good idea to start by launching your own product (physical/digital).
When it comes to sales, the usual tactics at TikTok don’t work. The app is not a place for serious sit-down stores.
Most TikTok users are between 16 and 24 years old. They come here to have fun themselves, not to buy things. But demographics and age are growing rapidly. This is the case with most social media platforms. They start young and begin to attract older users as adults.
To get to the position to start earning money you will have to follow these easy steps;
- build your following
You can start attracting the attention of brands with almost 50,000 followers
- post regularly
make sure you are consistent and don’t lose momentum with long breaks between posts
- jump on trends
TikTok is known for its viral dances and music videos – can you incorporate the latest trends into your outfit?
- engage with your followers
the more you communicate with your followers, the better your sponsored posts will be
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How Much Does TikTok Pays?
The amount of money you can make on TikTok is unlimited, but it varies.
Some of the world’s most famous creators make millions of pounds a year through the platform. For example, according to the Digital Marketing Institute, American creator Addison Rae earned about $ 5 million on her TikTok videos.
It is estimated that the most famous creators can earn up to £ 10,000 per contribution. However, you can’t directly generate big revenue from TikTok if all of your videos don’t get a lot involved.
How many followers do you need on TikTok to get paid?
As with all social media platforms, the more followers you have, the more money you can make.
But when it comes to TikTok, you don’t need millions of followers to make money. If you have between 50,000 and 150,000 followers, you are considered a “micro-influencer”, while creators with less than 50,000 followers are known as “nano influencers”.
If you want to make money on TikTok immediately, you must meet the minimum watch requirement and have at least 100,000 video views in the last 30 days. Read more about the TikTok Creator Fund below.
How to get followers on TikTok
The key to creating a TikTok follower is to understand your target audience and create the content they want to see.
If you want to attract a lot of followers, you also need to post regularly and reach your audience.
Here are five quick tips to help you build your audience and get more views on TikTok:
- use popular hashtags and featured or popular songs – using tags and popular songs in your posts will increase your chances of more people seeing you on the “For You” page
- jump to the latest trends – you can increase your exposure by turning an interesting trend. However, TikTok trends are evolving fast, so make sure you have the latest information
- Build relationships with other creators – Sharing content with other influential people can reach your message to a wider audience
- Join TikTok Challenges – Start your own TikTok challenge or create a memorable existing version that can increase your reach
What is the best time to post on TikTok?
TikTok will show you if your audience is active, so try to base your posts on these times.
As with other social media platforms, some of the most effective times are for morning, evening, and Sunday content. Think about how many hours your audience is likely to be on the phone and focus on them.
What is the TikTok Creator Fund?
The TikTok Creator Fund is part of Creator Next, a TikTok initiative that helps creators take their content to the next level.
- TikTok Creator Marketplace – a platform where creators can connect with brands and agencies with the aim of making content together
- LIVE Gifts – creators who receive gifts from followers during live streams can redeem them for money
- Video Gifts – a way for creators to make money from their short videos. Any gifts they receive can be exchanged for cash
- Tips – creators using this feature can receive tips from followers who want to support them financially
How does the Creator Fund work?
So how does the TikTok Creator Fund work? Once you are accepted into Creator Next, you can start using the Creator Fund.
The Author Fund will pay you based on video views and engagement. You can only pay for videos that comply with the TikTok Community Guidelines and Terms and Conditions.
Once you start paying, the money will appear on the fund’s main dashboard for authors. From here, you can withdraw money on a payment platform such as PayPal.
What is the Creator Fund criteria?
To register and before you start earning, you need to meet the following criteria:
- be at least 18 years old
- meet minimum follower requirements (dependent on region, but usually around 10,000)
- have at least 100,000 video views in the last 30 days
- have at least three posts in the last 30 days
- make sure your account meets TikTok’s Community Guidelines
If you want to make money from TikTok, you’ll need to make sure you’re paying enough tax and have the right insurance.
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