TikTok is one of the most popular social media apps in the world. TikTok has 1.5 billion users worldwide as the data show in 2023, and ranking the fifth most popular social media platform after Facebook, YouTube, WhatsApp, and Instagram. If you have a TikTok account that has enough followers, it’s not difficult for you to monetize on TikTok.
However, Making money online with TikTok involves leveraging the platform’s massive user base, and depending on the engaging content format to monetize your presence. One of the crucial factors in making money is choosing the right niche to create content with, because some content such as financial, electronic, and technology reviews are more valuable but also highly competitive than others.
Here are steps to make money on TikTok.
Step 1. Build a Following
After choosing your niche, build an account and your following.
1.Create Engaging Content
Post regularly and focus on creating high-quality, entertaining, or informative videos. Consistent adding content to your TikTok account can keep your following and scale it gradually, otherwise you will lose your following because they think you are producing nothing and can provide them with zero value.
2.Understand Your Audience
Identify your target audience and tailor your content to their interests. Do not create content that makes your audience upset. TikTok is a social media platform, your following came to kill their time and have fun. Create content that can pleasure your following.
3.Use Trends and Hashtags
Participate in trending challenges and use popular hashtags to increase visibility.
4.Collaborate with Others
Partner with other TikTok creators to cross-promote content and reach a wider audience.
Step 2. Create Your Monetization Strategies
1.Brand Partnerships and Sponsored Content
According to the industry that relates to your content, partner with brands to create sponsored content. Companies pay influencers to promote their products or services. Especially now TikTok are developing their e-commerce business, it’s easy to find brands that are willing to pay the influencer for the promotion.
2. TikTok Creator Fund
Join the TikTok Creator Fund, where TikTok pays you based on the engagement and views of your content.
3.Live Gifting
Host live streams and receive gifts from your followers, which can be converted into real money.
4.Affiliate Marketing
Promote products in your videos using affiliate links. Earn a commission for each sale made through your link.
5.Sell Your Own Products
Use TikTok to market and sell your own merchandise or services.
6.Ad Revenue
Once you reach a certain follower threshold, you can earn money through ad revenue sharing programs.
Successful TikTok Monetization Case: Addison Rae
Background
Addison Rae is one of TikTok’s most famous influencers. She started posting on TikTok in 2019 and quickly gained millions of followers with her dance and lip-sync videos. Today, she has over 80 million followers and is one of the highest-earning personalities on the platform.
Strategies Used
- Consistent Posting: Addison posted regularly, often multiple times a day, keeping her audience engaged.
- Trending Content: She participated in trending challenges and dances, which helped her videos gain visibility.
- Collaborations: Addison collaborated with other popular TikTok creators and joined the Hype House, a collective of influencers, which boosted her reach.
- Cross-Promotion: She leveraged her TikTok fame to grow her presence on other social media platforms like Instagram and YouTube.
Monetization Tactics
- Brand Partnerships: Addison has partnered with numerous brands, including American Eagle, Reebok, and Daniel Wellington, to create sponsored content.
- Product Lines: She launched her own cosmetics line, ITEM Beauty, capitalizing on her large following.
- Media Appearances: Her popularity on TikTok led to media opportunities, including a role in the movie “He’s All That” and appearances on talk shows.
- Merchandising: Addison sells her own branded merchandise, from clothing to accessories, directly to her fans.
- Ad Revenue and Creator Fund: She benefits from ad revenue sharing on TikTok and payments from the TikTok Creator Fund.
Results
- Income: Addison Rae reportedly earned over $5 million in 2020, primarily from her TikTok activities and related ventures.
- Brand Growth: Her personal brand grew significantly, leading to mainstream media opportunities and business ventures.
- Influence: Addison has become a cultural icon, with influence extending beyond TikTok to other social media platforms and traditional media.
Conclusion
Where there is traffic, there is money. If you are an influencer on TikTok with mass followers, monetizing via TikTok is not difficult. The most important factor to make money on TikTok is your content. Content is always the king. Choosing the right niche and creating great content with it are the key factors to success in TikTok.
