Did you know that, the popular clock app, TikTok, has reached 1.5 billion users in 2023 and it is expected to get to 2 billion in 2024??
Why are we talking about TikTok today? Because sis, in 2024, there is a lot of money to be made we are leaving none on the table. We have shared several posts on side hustles you can consider this year and we will share more.
Back to the matter at hand. The figures in the first line of this post, is particularly good news for you if you are an entrepreneur, some type of content creator or you run a marketing agency. It means you have an opportunity to reach more of your potential target audience.
1 billion people spend their time on this app monthly and chances are you are one of them. Now how about turning that time spent on the app into an income generating opportunity?
Oh yes, you read that right. TikTok is one of the easiest money making social media apps and with the launch of TikTok business, now is just the perfect time for us to talk about how you can leverage it.
If this is your first time hearing about TikTok, I apologize but have you been living under a rock? Every one and their mother are churning out content every day on the app.
Anyway, you are forgiven, here’s a summary of what it is. TikTok, also known as Douyin in China, is a short form video based platform designed for easy to consume content. It was launched in 2016 and has since grown to what we know it to be today.
And before we delve deeper into ways you can start making money on TikTok, for those without a TikTok account, here’s how to create one in 2 minute:
Get started on TikTok
- Download the App from Google Play Store or Apple Store
- Click and open the App
- Choose how you want to sign up (our preference is Google)
- Fill in your accurate details and start your TikTok journey.
Ways to make money on TikTok
- Become an influencer
- Become a UGC (User-Generated-Content) creator
- Sell products
- Offer marketing/advertising services
- Go live as frequently as possible
- Join the creativity program
- Run ads
BECOME AN INFLUENCER
For you to become an Influencer, you need to first be ready and willing to invest in content creation. Creating content that appeals to your target audience and building a massive following. When we say massive, we mean between 10,000 to 100,000 followers.
And if you don’t know this, TikTok is one of the easiest social media platforms for you to get organic followers, as long as your content is in any of these categories, entertaining, educative, and informative. Once you’ve built a massive following, brands will begin to contact you to make deals and you can also reach out to brands you’d like to work with. Not only that, Tiktok will also pay you per view.
Did you know that the highest paid TikTok Influencer (Charli D’Amelio), estimated earnings is $17.5 million?
BECOME A UGC CREATOR
Did you know that as a UGC creator there are millions of brands who would be willing to pay you to create content for their product? Yes, that’s right. A UGC creator is a User-Generated-Content creator. This is someone that creates videos, reviews or pictures from a user perspective. And unlike being an influencer, you don’t have to have lots of followers to start or work with brands. What you need is good content creation skills, authenticity, niche down, powerful negotiation skills and a never quitting spirit.
SELL PRODUCTS
Remember we mentioned that one of the easiest platforms to get organic followers is TikTok. Once you’ve noticed you’ve built a good number of followers even if it’s not up to 10,000 followers, you can start selling your products. Lots of your followers will be willing to buy your products, especially merchandise, you can also leverage on TikTok Shop. So, without running ads, you’ll attract lots of audience who might become your potential client or customer.
OFFER MARKETING/ADVERTISING SERVICES
There are lots of businesses and named brands that don’t know how to manage their TikTok account, while some need an extra hand to either join their team or work as a freelancer. So, this is an opportunity for you if you’re offering marketing or advertising services.
GO LIVE AS FREQUENTLY AS POSSIBLE
Are you aware that you can get rewards whenever you go live on TikTok? Yes! So, when you go live, your followers can give you gifts as a way to appreciate you or thank you for your content. Every gift has it prices, the more you go live and receive gifts, the more money you make. It’s like little drops of water, every bit counts.
JOIN THE CREATIVITY PROGRAM BETA
Another way for you to make money on TikTok, is through the creativity program beta by TikTok. This was created for users who have built a large following (with at least 10,000 followers and 100,000 authentic video views) on the platform. This gives you an opportunity to monetize your content, especially long video forms. To join, you need to meet TikTok’s eligibility and community guidelines.
RUN ADS
Sometimes, the views might not be the only thing you need. Yeah, you need views but you need the right eyes to see your content. Which is where running an ad comes in. Now you can target your exact audience and reach your goal faster, of course, you make more money after spending small money.
In Conclusion
TikTok’s massive user base presents lucrative opportunities for entrepreneurs, content creators, and marketers to make some extra money. This post has outlined several ways to monetize the platform and we hope with these tips, you can also join the league of earners.
