How to earn money on Tiktok
Tiktok is the fastest growing social media platform today. In fact, in 2018 alone, it had been downloaded quite Instagram, Snapchat and Youtube. If you still don't know what it is, it's time for you to check it out.
Tiktok combines Vine's comedy (the famous six-second video app that ended in 2017) and musical.ly (another huge lipsyncing app that was acquired in 2017 by Bytedance, renamed and acquired by Tiktok in August 2018).
With over a billion downloads from the App Store and Google Play, Tiktok presents an excellent opportunity for influencers to interact with over 500 million users and use their engagement to require advantage of the platform.
Running an agency that focuses a lot on Tiktok, and being a fan of the app myself, I tested some campaigns for clients and thought about compensation methods for influencers that work well on other social media platforms like Instagram, Youtube and Twitch which can also be used on Tiktok. I have personally chosen four of my favorite ways for a Tiktok influencer to make money
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1 Donations
A Tiktok user can easily go live and interact directly by commenting and chatting with thousands of users. Viewers have the ability to donate coins, a virtual currency that anyone in the app can buy with fingerprint identification or facial recognition. The parts purchased by users can then be given to the influencer during the live session.
Even if Tiktok does not officially share the price of the coins online for each country, each registered user can easily check the updated rates by opening the application, going to “privacy and settings,” by clicking on “wallet,” then by clicking on “recharge.”
The smallest package in the United States is priced at 99 cents per 100 pieces. Once the live feed is complete, the influencer can collect 50% of the coins, turn them into diamonds, and then withdraw the corresponding dollar amount. The remaining 50% is split between Tiktok and the App Store or Google Play, respectively.
2 Influencer Marketing
Over the years, we have seen an increasing popularity of social media marketing through platforms like Instagram and Youtube. Influencers can promote products or services to their subscribers and be paid by a company. Tiktok users can create one or more short clips in their own style to promote a company's products. It can be comical, entertaining or informative depending on the audience and the influencer’s choices. Compensation varies depending on factors such as the number of subscribers, the engagement rate, the types of products or services advertised, the number of videos produced, the industry and geolocation.
One of the most important factors to keep in mind is that the video should be native and feel natural without any difficult sales techniques. Users, especially on Tiktok, prefer fun and entertaining videos rather than staged advertising. Another factor is to make sure that activation can easily go viral in order to be featured on the “For you” page and gain even more organic exposure.
3 Merchandising
Another way during which content creators and influencers can earn additional profits on Tiktok is by designing and selling their own merchandise . To make the most profit, an influence must have a large audience and a sense of community.
According to my personal experience on different social media, in particular on Youtube, Instagram and Twitch, the majority of subscribers do not engage in the purchase of promoted goods based solely on the value of the product (quality of the material, for example), but rather to support the influence or by adhering to a common trend. It is vital for an influence to build a personal brand by creating an online character, a recognizable logo, and approaching a specific niche market before they even start selling personalized merchandise online.
4 Brand-related events and partnerships
Finally, differently influencers can make money through Tiktok is to be invited by brands and corporations as a special guest to participate in events, music festivals or conferences where the user Tiktok are going to be paid to market a brand, perform on stage (dance or song ) or meet followers.
In addition, in this case, the benefit may vary depending on the influence of the Tiktok user, what activities are requested by the brand before, during and after the event, and if the brand offers something in addition to the Tiktok user - for example , paying for the flight and hotel.
In conclusion, Tiktok is a relatively new social media platform that is growing rapidly not only in China, but also in the United States and Europe. Both brands and users can benefit from a business perspective. Now is a good time to jump on Tiktok for business before it becomes saturated and more expensive as an acquisition channel.
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