With over a billion active users, the social media platform TikTok is now more lucrative than ever. Most people dream of getting paid for being on social media all day, and few have actually turned that dream into a reality. Some of the highest earning TikTok influencers earn as much as $5 million per year. While that amount of money is reserved for influencers who have millions of followers, there’s no reason why you can’t get a tiny slice of the TikTok income pie.
Can You Really Make Money On TikTok?
Absolutely. Plenty of people do it. But it takes some serious creativity and more hard work than people expect. Most assume well-earning influencers on TikTok make money by scrolling through their phone all day. But it takes a lot of effort to post high-quality content that brings value to your audience.
How To Make Money On TikTok
Though there is no exact formula that you can replicate to start earning money on TikTok, here are some ways you can give yourself the best chance for success.
The amount of money you make on TikTok is a reflection of several factors including how well you know your audience and how consistently you pose. “The more you understand the kind of content your target audience gravitates towards,” explains William Lee, a writer at Academized and Oxessays. “The better you can create videos that attract likes and followers.”
Ways To Earn Money on TikTok
In terms of method, here are several ways aspiring TikTok income earners can get paid.
Partner With A Brand
Paid sponsorship is the primary moneymaking method of influencers on most social media platforms. TikTok is no exception.
Collaborating with a brand is one of the most profitable ways to earn money on TikTok and how the top income earners make their millions. Companies pay between $200 to $20,000 per collaboration video with influencers, depending on the influencer’s level of influence. Since TikTok videos are short form, you can be getting paid $200 for promoting a brand’s product or service in a one minute video or less. Some examples of content could be a makeup tutorial for a cosmetics brand or a video of outfit ideas featuring pieces from a clothing brand that partners with you.
The awesome thing about this method is that as you grow your following, the greater the potential of this income stream becomes. Since brands pay according to the size of your following, growing your followers gives you the leverage to demand more per post.
To maintain the trust of your followers, only reach out to brands that align with your own brand and reflect your values. This encourages your followers to trust your recommendations and makes your sponsored content appear more genuine.
Promote Your Products
“If you’re an entrepreneur, take advantage of this platform to promote your own product. Since any video can go viral on TikTok, many small businesses have grown their consumer base tremendously through marketing on this app,” observes Darlene Wright, a marketer at Stateofwriting and Boomessays. Some examples of content to promote your own brand could be a behind-the-scenes of creating your product or a packing and shipping video.
Provide a link to your product or service in your bio, and include a call-to-action in your videos to encourage your followers to visit it.
Ask For Donations Or Tips
Similar to Reddit, you can earn money by going on live and earning tips in the form of TikTok coins from your audience. TikTok coins encourage users to show appreciation to their favorite content creators. Users can purchase coins from the app, and creators can exchange them into actual income.
Another method that some influencers are using is to link their Venmo on their profile. This allows fans of your content and kind followers to send you money directly.
Conclusion
Earning money on TikTok is possible for anyone willing to put in the work to build their audience and post consistent high-quality content. It may not be immediately profitable, but once you earn enough followers, it becomes an extremely viable income stream. If you spend most of your time creating content on this social media platform, why not find a way to monetize it?
Emily Henry is a content marketing writer at PhD Writers. She often writes about how to grow your audience and earn income on TikTok, Instagram, and other social media platforms.
