TikTok has over 1 billion monthly active users as of 2021, which is crazy considering how young it is. With its raging popularity, it’s no wonder people have started to look up how to make money on TikTok. After all, turning your favorite hobby into a career does sound like a dream come true.
TikTok is really taking over the digital world while also creating massive opportunities for content creators to earn big money simply by mimicking scenes from their favorite movie clips, dancing to a catchy beat, and creating something out of the ordinary.
How much money can you make on TikTok?
Many TikTok users have already achieved tremendous success with the app, similar to other social platforms where you can also make money. In some cases, “bloggers” or” influencers” can even earn a full-time income.
You might think that TikTok is a relatively new gig, but the stats are simply mind-blowing.
TikTok generated an estimate of around 2 billion dollars in the first 11 months of 2021, and it is expected to earn even more in the coming years.
TikTok’s highest-paid users are young, attractive, or someone who possesses a certain charm. You would have seen many well-known celebrities joining the trend, making this platform even more interesting.
A single branded video content can earn a TikToker anywhere from $100 to $100,000!
If you already have a widespread fan base, you will earn more than the average TikTok user through branded content and paid sponsorships.
One thing is clear: you can make money on TikTok if you hit the right mark at the right moment. Your account might take some time to get monetized, but the catch is to wait and form a powerful strategy to move forward.
Why earning money on TikTok is easier than other platforms
Building an audience on famous social media platforms like Instagram and Facebook can take years! It will take months and months before you finally start earning and getting a proper following.
However, making money on TikTok is relatively easier even though it’s becoming more saturated as we speak. The platform’s simplicity means that it’s extremely easy for a video to be picked up and go viral.
As you can see in the graph below, people are spending more time on TikTok, and this figure is only expected to grow in 2022.
Getting views on TikTok is much easier than getting views or impressions on other social media platforms.
Hence the road to success is shorter on TikTok, and as soon as you start making quality content, you will get hundreds of thousands of views, followers, and sponsorships!
Top Richest TikTokers in 2021
Following are some of the most well-known people who get paid MILLIONS by creating content for every TikTok category.
- Addison Rae Esterling, a famous dancer, makes around $5 million and has over 84.4 million followers.
- Dixie D’Amelio has around 55 million followers, fetching her $3 million.
- Demi Bagby, a fitness influencer, earns nearly $3 million from his fitness-related video content.
- In addition, celebrity chef Gordon Ramsey is making tempting food videos to amaze his fan base, and in return, he is getting around $3 million in the form of sponsored posts.
- Josh Richards is also amongst the highest-paid Tiktok stars, with over 22.2 million followers contributing to his annual earnings of around $1.5 million.
- Spencer X, a well-known beatboxer, earns around $1.2 million by entertaining his 45.8 million followers.
- Zach King, another internet sensation, earns $41000 per post on Tiktok.
And not only them, but you will also find thousands of people who are taking up this profession to make themselves financially stable just by having fun on camera and uploading it for the right audience.
The 2023 strategy on how to make money on TikTok
Unfortunately, you can not just create random content and expect it to go viral on TikTok. After all, millions of people are creating good content every day.
So, how will you stand out from the rest? With the help of an iron-clad strategy that will guarantee you results. And awesome video-making skills, of course.
Here are some tips or strategies to help you get your first paid post on TikTok.
1. Decide your niche
Your TikTok niche is where you’ll be creating 90% of your TikTok videos in. A good niche will define the aesthetics of your content and how it will resonate with the people who use TikTok frequently.
Not only this, but it will also assist you in gaining more followers as more and more people will be attracted to your content if it suits their interests.
If you are good at performing some really cool dance steps, you can leverage that by showing your skill to a broader audience on TikTok.
Similarly, if you like to act out witty, humorous dialogues from famous movies, then you know your niche.
You can even create a brand new niche that will speed up your success on TikTok.
For example, this one guy deep-fries weird items we wouldn’t even dare to think about. Like a cake. Or a $1000 steak. Crazy, right? But guess what, this is what made his video go viral and bought him tremendous success.
Just take a look at his views!
Picking a niche instead of creating diverse videos will help you create an audience faster. You can experiment around, in the beginning, to see what works best and then more or less stick to the type of content for the future.
2. Start from Scratch
Even if you are a micro-influencer, you need to trust the process from the start.
Most marketers typically choose micro-influencers over more prominent creators as they demand more money per post. If you have around 50000 to 100000 followers, you can present yourself to brands as a potential micro-influencer to advertise their products.
Create a unique selling point for yourself through your profile feed to convince brands why they should choose to partner with you.
Engagement matters more than the size of the audience, so leverage that too! More often than not, micro-influencers have a higher engagement rate than major influencers because it’s much easier to interact with a small community and keep them engaged.
3. Get insights about TikTok’s Creator Marketplace
Some of you might not have heard about TikTok’s Creator Marketplace before.
It is a platform for engagement that acts as a bridge between top-notch businesses and TikTok entertainers. Once you reach the milestone of 100,000 followers, you may apply to be a part of the TikTok Creator Marketplace to partner with brands and vouch for sponsorship possibilities.
Once you get in, TikTok will also assist with branded campaigns, collaboration tools, and deeper insights.
One significant advantage of being a part of this marketplace is that the brands will have access to your impressions and analytics so they can decide if they want to work with you or not.
When a brand decides to collaborate with you, you’ll receive an email with campaign information and an agreement to sign. Following that, you will submit your branded video content according to their requirements. That’s how you will get your first official salary from TikTok!
4. Begin selling your merchandise
You must have seen some influencers introducing their line of merchandised products to their followers.
That is because selling your customized items is an excellent way to monetize almost any form of content and gain your audience’s trust.
Any TikTok celebrity, whether a dancer, musician, or comedian, can create and sell merchandise to their most devoted followers through competitions or giveaways.
The merchandise may include mugs, t-shirts, keychains, frames, or other items that you think will enhance your branding.
5. Interact with your followers
Interacting with your community is critical to developing your TikTok network.
You can start by commenting on other creators’ posts as you see them. This will help you establish a reputation amongst other TikTok users, which may also get you a brand collaboration.
Also, set up live sessions to show that you really care for your fans.
It is necessary to build long-term partnerships with your most devoted supporters so you can expand your viewership with time.
6. Create In-feed Ads
We all know that social media advertising is quite effective in driving traffic from all regions to your page.
TikTok gives you the liberty to create content that can drive organic visitors to your page. However, if things are not working for you like that, stop worrying and be prepared to pay a little money to increase your profile’s reach.
For that, you need to consider designing your in-feed advertising using the TikTok ad manager. The helpful part is that you can ensure that your videos reach the most interested viewers in your activity by using paid ads.
9. Create a short trailer for your account
This tip will help you get branded partnerships as the trailer will act as your brief portfolio on TikTok.
It will showcase your best work to an audience eager to work with you on paid projects and give them a way to reach you. To create an engaging trailer, you need to include all your amazing pictures, video clips, and notable achievements to impress the viewers on the other side of the screen.
8. Collaborate with an Influencer
It’s now time to crank things up a notch.
Try to have a meaningful conversation with a fellow influencer so you can both collaborate and benefit from each other’s audience. The rule here is to find influencers creating similar content in your niche. After that, you can scroll down their profiles and see what they usually do to impress their viewers.
By doing so, you will have an idea of how to pitch your idea by creating a hook that will attract their interest.
9. Learn to sell yourself
The challenging part of utilizing social media to promote your brand is promoting it without sounding too promotional. Your customers know that you are trying hard to make them buy your product, but the strategy lies in what approach you are using.
No one wants to follow an account that continuously advertises without sharing exciting or meaningful content. This is especially relevant with TikTok because the platform is solely dedicated to people who want to enjoy good quality content to relieve stress from their challenging routine.
We can advise you to first focus on your content niche and produce consistent videos that can help you gain an audience. Once you have done that, you can start branding yourself.
Are YOU ready to earn money on TikTok?
Everyone wants to quit their tedious job and start earning money by creating quality content from their home.
But to fulfill that need, you have to trust the process as you proceed. One thing is quite clear: you can make money on TikTok, but the journey can be tiring, and you might face some failures initially. But everyone starts from zero, right?
That’s where you need to step up! Learn from your mistakes and translate that to focus on little achievements that might help you accomplish marvels one day.
We hope this article helped you answer some of the questions related to how to earn money on TikTok. We wish you good luck!