Making money on Tik Tok in 2020
As with pretty much every Internet-based trend that comes along, the question on how to make money on Tik Tok has constantly been asked.
The answer is that yes, you certainly can. While Tik Tok is not built specifically around monetization and providing income streams to creators, the app is very commercial-friendly and it is possible to earn a good living by creatively using the platform. First things first:
3. Tik Tok Demographics
Tik Tok is a goldmine in strategic niche targeting. This is because about 41% of it’s users are within the 16-24 age bracket. Additionally, 60% of worldwide users are under 30 yrs.
It’s no wonder while older folks are oblivious of what Tik Tok is really about, its no news to teens around the globe. marketers are keeping an eye on the opportunity to take advantage of Tik Tok’s recent efforts to exhibit the brand to potential agencies.
4. Tik Tok Geographical coverage
Tik Tok is already available in 155 countries and in 75 languages. This widens the scope of the target audience for the business. About 25% of Tik Tok downloads are from India, additionally, India also commands more than 40% of new users
Methods of making money on Tik Tok
# Becoming an Influencer on Tik Tok
An influencer is an individual who has an above-average impact on a specific niche process. Influencers are normal people, who are often connected to key roles of media outlets, consumer groups, industry associations or community tribes. Influencers’ role is to add value to their opinions.
For instance, you don’t listen to your musically-tuned-in friend because he has a cool website or because your other friends told you he was great, you listen to him because you found that he has really good taste, and so when he recommends an album or an artist you know it will be good.
He is saving you time and money every time he opens his mouth, and that is why you pay attention to him. Tik Tok-specific influencers might not be huge yet, but they will be and you can work with them to widen your reach on the platform.
Generation Z is typically opposed to anything that looks like a traditional ad. So, working with Tik Tok influencers can really help you make a connection with that generation of users.
If you do have something worthwhile to say, and you have a huge following, then TikTok gives you a very straightforward method of monetizing your video appearances in the app.
All you need to do is recommend products and services that you genuinely do use and think are good; those brands, stores, artists, or whoever will then be very glad to compensate you for your advocacy of their product or service and therefore make money on TikTok.
You need to have a genuinely large and engaged following
- Open the Tik Tok app and log into your account (If you haven’t already).
- Click on the add button from the bottom of the screen. The icon should be in the form of a plus sign (+).
- After the video screen opens up, click on the “Live” button which should be aside to your recording button.
- Now simply add an eye-catching title to your live stream which will let other users know what it is about.
- adding a title to your live stream. Please avoid using any banned words such as duet, follow, fan, BFF, drama queen, donation, etc.
- Finally, tap on the “Go Live” button and then you should be able to commence with your live streaming.
- The Go Live feature in Tik Tok is still in the testing phase and not available to all users. To enjoy this feature, make sure you are using the latest version of the Tik Tok app.
- Please avoid using any banned words in your live stream title, such as duet, follow, fan, BFF, drama queen, donation, etc.
- You may need 1000 fans before you can go live on Tik Tok. You can achieve this by grinding hard or using Social Media Automation Software.
Live streaming on Tik Tok used to be on Live.ly but it has since moved to Musical.ly. Basically, users tip Tik Tok creators using in-app ‘coins’. The coins are bought via in-app purchases using real cash.
Obviously the tips depend on the quality of the video and the no of followers you have. This can form an income source and can quickly be scaled up depending on the degree of success.
# Promoting and Selling own product
This is probably the most realistic way for most people to make money via TikTok, even without accumulating a huge following and becoming a national-scale influencer.
The idea is to have some other line of business or store, and use Tik Tok as an absolutely free way to promote and sell your products or services, or to promote your existing business
Using influencers as mentioned above can come in handy. Tik Tok-specific influencers might not be huge yet, but they will be and you can work with them to widen your reach on the platform. Generation Z is typically opposed to anything that looks like a traditional ad.
So, working with Tik Tok influencers can really help you make a connection with that generation of users.
Finally, you can, in essence, advertise any business even if it isn’t something that translates well to video. By putting up a video that’s fun, funny, creative, or musically great, you’ll attract attention – and then you can have a few frames at the end pitching your product or service.
# Upload Tik Tok compilation videos on Youtube
One of the hardest ventures in penetrating an already saturated Youtube niche. Being relatively new, Tik Tok compilation videos is offering creators an emerging target niche.
As opposed to long videos, Tik Tok compilation videos offer many different short videos that are more appealing to even audiences with a goldfish attention span. These videos are aggressively gaining traction on Youtube and can offer a reliable income stream.
Going by just the above example, using a conservative CPM of 1.5, the above Youtuber has already made over 40,000 in just over a year. This is just from a single video