A long way from its humble roots TikTok has established itself as one of the most dominant social media platforms in the world. The popularity of TikTok has attracted a lot of businesses and marketers which created a number of ways for TikTok creators and influencers to monetize their accounts. Let’s take a look at the five most common ways to make money from TikTok accounts.
1. Become An Influencer
One of the most common ways of generating revenue from your TikTok account is to become an influencer. More influencer marketing platforms are integrating TikTok as part of their product mix which allows influencers to expand their reach across a number of platforms.
This growth has helped increase the money which TikTok creators can make and helped creators develop a number of successful monetization strategies. By creating branded content and promoting brands through collaborations, TikTok creators can get paid per video or based on their engagement. Additionally, creators can create ongoing partnerships by placing promotional links in their bios and live streams and charge the brands for the engagement they receive.
In order to become an influencer, or be successful with the other ways to make money from your TikTok account which we will discuss below, you must first learn how to grow your account. Sean Young, an influencer who has had years of experience creating entertaining content and growing his Vine and TikTok followers. Here are a few tips which can be of great help as you embark on this journey of becoming a TikTok influencer.
2. Live Stream
TikTok users can buy “coins” using real money via in-app purchases. These coins in turn can be used to tip TikTok creators during Live Streams. TikTok passes 80% of the value of the tip on the person doing the live stream which helps creators get paid for their well-earned efforts.
Additionally, a lot of creators use Live Streams to build a community of followers and sell merchandise for themselves or other companies. Holding auctions is one of the most common ways in which TikTokers are promoting products through live streaming today.
3. Build Up Accounts & Sell Them
Once you have built up a popular TikTok account you always have a choice of selling the account to someone else. As a matter of fact, this is becoming one of the most popular monetization methods on TikTok, especially in the e-commerce space.
This strategy starts with you deciding what products are most likely to go viral and cause a lot of attention which you can promote via your TikTok. As you go after the niche and grow your TikTok account, this will attract the brands whose products you are promoting through your videos and live streams.
Once your account picks up and you are getting a lot of attention for the brand and the products you are promoting, you can reach out to that brand and make your offer. If you are in love with TikTok and have a knack for attracting followers, this may just be the perfect strategy for you.
Sell Merch Through TikTok’s Ad Platform
Like other major social networks, TikTok also has its own ad platform which can be used to promote your TikTok account. A lot of TikTokers have been using this platform to promote their accounts and sell merchandise through either Live Streams or Amazon affiliate links.
With the rise of Shopify and other marketplace platforms, there has been a large number of TikTok influencers who have created their own product lines which they sell through their account and via their online stores. The links can be included in the TikTok bio or Live Streams to expand the reach and increase conversions.
Of course, this strategy is not limited to selling your own merchandise or brand. More and more e-commerce stores are looking to partner and collaborate with influencers to promote their own products through affiliate programs and long-term collaborations and partnerships.
Pass On Your Knowledge For Money
Figured out the secret sauce to growing your TikTok account? As more users and businesses flock to the platform excited to grow their accounts this creates a great opportunity for you to harvest your knowledge and turn it into fruits of success for others.
Elise Darma is a great example of a talented influencer who went from a social media enthusiast to expert, to creating a successful business helping businesses and marketers get more out of Instagram and grow their accounts at astounding rates. Not only can this prove to be the most profitable TikTok monetization method, but it can also provide you with the satisfaction of helping others achieve the same success you have.
As TikTok continues to capture the attention of millions of people worldwide and growing at incredible rates there are sure to be more ways of making money from your TikTok account.
One of the best things about this list is that you are not limited to doing just one or the other. As a matter of fact, you can incorporate all of the five strategies here and benefit from all of the above as they complement one another quite well. If you are interested in learning more about how you can become a TikTok influencer and how much money you can make with AdMass, please refer to our pricing chart.
Want to learn how to make money from your Instagram account? Read our blog on the 7 Ways To Make Money From Your Instagram.