With so many companies laying off their staff due to the pandemic, a lot of individuals are looking into alternative income streams. There are lots of side revenue streams out there but for the sake of this article, we will center on just one, TikTok!
It’s no news that a lot of influencers made a lot of money in 2020 from TikTok during the pandemic that caused a worldwide “sit at home”. Addison Rae Easterling ” yanked” a whopping $5 million in 2020.
People with experience on the platform are leveraging it to make a living for themselves. Join me as I walk you down a few steps to take before you begin earning on this social platform. The challenge now is; How do you make money from Tiktok?
Tiktok has indeed attracted a lot of attention and the creatives on the platform are gathering heavy traffic with their contents. Below are a few things you can do to earn from this platform.
How do You Make Money on TikTok
Follow these steps below to learn how to start making money on TikTok.
1: Grow and resell accounts
The first step to knowing how to make money on TikTok is by growing and reselling accounts. This simply means growing accounts and then reselling them to companies and brands in need of the account.
Just like Instagram, you can achieve this by choosing a niche, you then specifically create content that goes viral to gain the attention of your target customers.
There are people who may not have anything to sell but are growing TikTok profiles around a certain interest. More so, people are making serious money today by focusing on a niche, after which they reach out to brands in that industry and sell the TikTok profiles to them.
Brands are at a high advantage because once they have these accounts in their hands, it becomes easier to sell their products.
One method people adopt in selling products is through TikTok Live, there is also the availability of a link in the bio where you can always drive your followers to purchase your product.
So, if you can, get on TikTok and grow an account to a point where you can sell it.
This is another way people can make money from TikTok. Just like Twitch, They go live and gain donations from the viewers.
As a TikTok user, you can go into your profile and buy something called coins on the app. A hundred coins will cost you about $1.39. The big question now is; what do you do with these coins?
Basically, When any of your favorite tiktokers goes live, you basically just send them coins as a way of showing appreciation for the quantity of effort they put into creating the content they share with the public.
On the other hand, the creator then turns these coins into diamonds, which can then be converted into cash via PayPal. You can also gain donations when you succeed in your chosen niche and make money.
Generally, When creators go Live, they usually attach a handcart to the products they sell. So it is more like a QVC or shopping channel. You could go Live, hold an auction, and other people can then purchase your product.
3: Influencer Marketing
Influencer marketing is another way to make money on TikTok. It is very similar on all social media platforms. Big companies promote their products by working hand in hand with influencers who in turn use their videos as a means of advertisement for them to generate sales.
Additionally, as an influencer, you can manage campaigns on TikTok.
One can be the link between a creator on TikTok and a brand or company that wants to work with that influencer. You can charge a service fee to manage campaigns by establishing an agreement between both parties and ensuring the deliverables are all met.
4: Using Ads
Another way you can make money on TikTok is by using the Ads platform. Just like Facebook and Instagram Ads, you can use TikTok ads to sell your products.
Looks easy, yeah? Let’s continue.
5: Become a TikTok Account Manager
This right here is pretty much simple. Some creators on the TikTok platform have lots of followers and most times, this happens quite fast and overnight for some creators.
You can leverage this by offering management services for these creators on the Tiktok app. You could step in and offer services to help them with their creative strategy, content ideas, and strategy, probably managing the offers and deals that come their way.
If you have that experience in storytelling or even production, you could apply to offer management services to these TikTok creators or influencers.
6: Become A Consultant
Another way to make money on TikTok is by becoming a TikTok consultant.
Once you become conversant with the TikTok platform and you now understand how to create highly engaging videos, you can simply offer consulting services to them.
This is a good way to utilize your expertise and experience from the platform and help people who want to be TikTok famous or they want to be creators. You can actually boost their strategy so their videos go viral and are seen by hundreds of thousands, if not millions of people.
It is very important to have a background and good experience in this first before you offer to be a consultant. Once you have this experience, people will pay to have your experience. Sounds good, yeah?
You could also help them get any deal or influencer to sign an agreement with them.
Another thing to note about this platform is that TikTok offers more benefits than other social media platforms. The stories on Instagram and Facebook expire after 24 hours but TikTok videos remain as you have just uploaded them.
Just like YouTube, you can publish a video on TikTok that can get traction in months to come. Here’s what happens. When you publish a video, the algorithm may pick it up months later and push it to the feed of people who would like it.
This is why people sometimes get lots of views, sometimes thousands to millions of views on their TikTok videos after a while even with very few followers. It’s basically because the algorithm picks up their videos and pushes them out.
TikTok is one of the fastest-growing social media platforms in the world. Even better, it offers lots of opportunities for making money from it. So, follow these steps to learn how to make money on TikTok.
If you have any questions or suggestions, kindly let me know in the comments section.