Digital Marketing 7 ways to make money with TikTok

Digital Marketing: 7 ways to make money with TikTok

There is practically no one left who has not heard of TikTok. Hence, one of the objectives of professionals, brands, and companies is to start monetizing TikTok and learn how to make money with this social network that is now trending.

The video network of Chinese origin has been the absolute protagonist of the moment, from its explosion in popularity during the confinement to its acquisition by Oracle to avoid a ban in the United States.

Is it possible to make money on TikTok? How can we monetize our account? Here are seven ideas to get you started.

1) TikTok Creators Fund

Amid speculation about the acquisition of the app to continue operating in the United States, TikTok announced the launch of a special fund to reward the creators of the platform. As its managers explained in a statement:

“To further support our creators, we are launching the TikTok Creator Fund to encourage those who dream of using their voices and creativity to launch inspiring careers. The fund in the U.S. will start with $200 million to help ambitious creators seeking opportunities to foster a livelihood through their innovative content. The fund will be distributed over the next year and is expected to grow during that time.”

Given the positive reception of the initiative, shortly after that, TikTok announced that the fund would be expanded to $1 billion for the U.S. over the next three years and more than double that amount for the rest of the world.

This initiative allows creators to earn money from TikTok directly. Thus, the social network wants to avoid falling into the same trap as Vine, which had to close because the creators abandoned it for not having a monetization model.

Digital Marketing 7 ways to make money with TikTok

2) TikTok Shopping

In late October 2020, TikTok announced a global partnership with the online shopping platform Shopify. The agreement allows Shopify users to use TikTok to promote their products. And conversely, TikTok content creators can create a store with their effects on Shopify and promote them through the social network.

Shopify users can create, execute and optimize marketing campaigns on TikTok directly from the Shopify dashboard by installing the TikTok channel in the Shopify App Store. With this tool, merchants can create native, shareable video content.

It is also possible to measure conversions from TikTok via a specific pixel separately.

To incentivize people to give it a try, TikTok is offering $300 in ad credit for Shopify merchants to start advertising on TikTok.

3) Direct links.

In February 2020, TikTok began incorporating the functionality to insert links into user profiles. Similar to Instagram’s famous “link in bio,” this allows creators to leverage visits to their content to generate traffic to a website.

Click on the “Edit Profile” button and add a website below the bio to use this functionality. Including the “HTTPS” is unnecessary; starting with “www” is enough.

The option to include links in the bio opens two possibilities for creators to earn money with TikTok:

They are linking to a brand’s website. Influencers can more easily reach sponsorship deals with brands now that they have a straightforward way to measure the success of campaigns in terms of traffic to the advertiser’s website.
Link to their products and services. Suppose the creator has an online store that promotes his products and services or an affiliate website where he promotes third-party products in exchange for a commission. In that case, the link in the bio allows him to take advantage of the traffic coming from TikTok and monetize it.

Digital Marketing 7 ways to make money with TikTok

4) TikTok Ads

In early 2019, TikTok first launched a beta version of its advertising platform. Since then, many brands have been encouraged to use it to promote their products, including big brands like Nike and Apple.

Advertising on TikTok has multiple formats, such as:

TopView: full-screen videos of up to 60 seconds, displayed in a preferred location within the platform.Ways to monetize and make money with TikTok.
In-Feed: videos integrated into the “For You” feed displayed as if the advertiser were a TikTok creator.
ways to monetize and earn money with TikTok

Gamified Branded Effect: filter with more than 20 different formats so that users can interact with the brand through their facial expressions, gestures, and postures.
ways to monetize and make money with TikTok

Branded Lenses: customized augmented reality filters.
ways to monetize and earn money with TikTok

Image: Social Media Today

TikTok advertising revenue does not directly impact content creators, but they can use it to promote their products and services or their presence on the platform.

Digital Marketing 7 ways to make money with TikTok

5) TikTok Creator Marketplace

TikTok Creator Marketplace is the official platform for brands and creators to collaborate on TikTok. It is a site specifically designed for brands and influencers to connect and strike deals with each other.

TikTok Creator Marketplace provides an easier way to monetize their work online for content creators. For advertisers, it’s a free way to find the perfect influencer to promote their brand. And for both parties, the platform offers data, tools, direct access, and communication at no additional cost.

At the moment, Tiktok Creator Marketplace is not open to all advertisers but works on an invitation-only basis. Companies can submit their application to use it through the TikTok website.

Once registered, advertisers can filter creators based on different criteria: country, the topics they talk about, their reach, and the demographics of their followers.

By clicking on a creator, you can see more data about them, such as average views for each post, interactions and shares, average performance, and even interaction rate. It also includes data such as their followers’ gender, age, and devices and how their audience has grown over time.

Once the advertiser has selected the influencer they are most interested in, they can message them directly through Creator Marketplace.

6) Individual agreements with brands

In addition to using TikTok Creator Marketplace, content creators and brands can also enter into their agreements to promote products or services.

As with any other sponsorship, the key to marketing with influencers on TikTok is to look for a natural fit between the brand and the person promoting it so that their followers do not feel that they are being forced to consume advertising.

More than the number of users, the key to making a collaboration work lies in the ratio of audience interaction with the content, the profile and interests of the followers, and the type of content for which the influencer stands out. In recent years, we have seen a trend away from sponsorships with mega-influencers, who tend to charge a very high price for collaborations instead of opting for micro-influencers with niche audiences.

Digital Marketing 7 ways to make money with TikTok

7) Coins and gifts

TikTok has a live streaming functionality called Go Live, which creators with more than 1,000 followers can use. This allows influencers to have more direct contact with their audiences and monetizes their presence on TikTok.

Influencers’ followers can give them virtual coins to thank them during a live broadcast. In addition to donating coins directly, users can also purchase emojis and diamonds to gift to their favorite creators.

Users can purchase these coins through TikTok, with the price varying depending on the size of the pack. These coins are stored in a virtual wallet until it is time to give them to the creators. Prices on Android and iOS vary slightly but move in these ranges:

65-70 coins: €1.09
330-350 coins: 5.49 euros
1321-1400 coins: 21.99 euros
3303-3500 coins: 54.99 euros
6607-7000 coins: 109,99 euros
ways to monetize and earn money with TikTok

When they have collected enough coins, influencers can exchange them for real money (with a maximum limit of $1000 per day). In this way, users can support their favorite creators, and creators can monetize their presence on TikTok.

Leave a Comment

Your email address will not be published. Required fields are marked *