With the current pandemic rendering millions of Americans jobless, people are searching for new revenue streams and earning potentials.
We live in a digital age. Almost everyone has a social media account. Social media channels have become a revenue source for many young creators and aspiring influencers. Platforms like TikTok allow you to post short videos and generate extra money to boost your income.
This article will show you how to make serious money on the hugely popular social platform.
What is TikTok?
TikTok is a video-sharing application used as a platform for influencer marketing. With the platform, you can create an account and generate and share videos up to 15 seconds long. TikTok is among the fastest-growing digital platforms, with approximately 800 million active users around the world. Similar to other platforms like YouTube and Instagram, it can be monetized. Keep reading to find out how.
How Can You Make Money on TikTok?
Create appealing content. Content carries a lot of weight if you want to get the best out of TikTok. Quality content will convince your followers that you are good at what you do and worth their time and resources. You need to be creative and entertaining to keep your audience engaged. The majority of online followers will only stay hooked to appealing content.
Here is what you should do:
- Create viral videos, not only to keep your current followers engaged but also to attract a new audience.
- Keep posting fresh, unique content, which means you’ll need to post videos daily.
- Post videos that your followers love to watch repeatedly to keep them engaged and entertained.
- Draw insight from your competitors. See what they are doing. You can create your videos much better than your competitors.
- Check out current videos and those trending videos with a large audience. Learn what makes the videos trend.
- Include some fun and humor in your videos to make them more entertaining and stand out from the crowd.
- Once you post your content, reply to your followers’ comments when you ask them questions related to your content.
Remember, you can make good money if you have a large follower base. That is why you need to put in more effort, mostly when posting content, to ensure that your videos remain relevant all through. You can create a posting schedule to ensure that you do not have gaps that would leave your audience hanging.
Manage influencer campaigns. You can also make money on TikTok by managing influencer campaigns. You can provide agency services such as coordinating between brands, other influencers, and brands looking for such services, and. charge fees to run the campaigns.
To manage successful campaigns, you should:
- Work with different brands by creating unique influencer campaigns to generate more income streams.
- Choose the most influential TikTok members — those who have a credible track record with in-depth knowledge in their field.
- Build and maintain a strong working relationship with the influencers.
- Ensure you have skills and expertise in running influencer campaigns on other social media platforms.
Smaller brands may not be willing to use the TikTok internal influencer programs because it is quite expensive. That’s why most brands choose to work with an agency to save money. In this case, you’d need to start an agency immediately to leverage the opportunity and make money.
Grow accounts and sell them. You can build, grow, and sell accounts to make money on TikTok. To do this successfully, select a specific niche and create content that your audience will enjoy watching.
To stand out from the crowd, create quality and entertaining content that will motivate your buyers to purchase them. People always want content that speaks to their needs. Hopefully your content will go viral and reach more people who may be interested in it.
It would be best to analyze the needs of your followers before creating accounts. Use the results of your analyses to create profiles around the niches that emerge and sell those profiles to your target audience.
Collect donations. Another significant way to make money on TikTok is by collecting donations from your audience. TikTok users have the privilege to earn monetary gifts through live stream.
The platform allows users above 18 years to buy coin gifts from their accounts. The coins will be credited to your account, but you can also send the coins to your creator when they are going live. Your creator can turn the coins into diamonds and convert them to cash. You can then access the money through PayPal. Prices vary per coin.
Publish sponsored ads. Publishing sponsored posts is another lucrative moneymaking strategy on TikTok. You can create ads on a small budget and see how the process goes before you go big.
The most important thing is to secure a large number of viewers for your videos. Don’t worry if you have a small number of followers. Make sure that your current target audience sees relevance in your ads. Once you have a database of loyal and engaged followers, you’re good to go!
To run successful ads, first determine the best brand to work with. Once you create a list of potential ad sponsors, cold-pitch them via email and briefly introduce yourself. Indicate your name, what you do, how you will run successful ads, your previous achievements, and the number of followers you have. Start with smaller brands before going for bigger ones, especially when you’re just starting.
Become a TikTok consultant. With enough skills and expertise on TikTok, you can become a consultant. As a consultant you must be able to create videos that attract more viewers. Many newcomers to the platform do not know what to do and will be willing to use your consultancy services. You can help them to manage their brand and attract more followers and viewers.
Be sure to conduct adequate research to equip yourself with the skills that brands are seeking.
The bottom line
The TikTok platform is growing rapidly and offers a tremendous opportunity to earn an income. To get the most out of the platform, stay focused on your goals and create unique and quality content that will keep your viewers engaged and entertained.