How To Make Money on Tik Tok in 2020
Read on if you want to know how YOU can make money on the hottest new social media plattform of 2020!
TikTok is a fairly new social media platform but it has already taken the social media marketing world by storm. The way it’s growing in popularity is insane, and we have never seen this kind of growth with any other social media platform in the past.
And as it’s still fairly new, it presents a great opportunity to content creators to get on it quickly and establish themselves on the platform. Surprisingly, growing a large follower base on TikTok is significantly easier than on other social platforms like Instagram.
But what about monetizing your follower base on TikTok? While a lot of users are striking it big with their content, many of them are clueless about how to leverage their popularity in terms of monetization.
But worry not, as that’s exactly what we are going to talk in this post. So let’s get down to business.
Table of Contents
Becoming an Influencer
TikTok is a social media platform too, so some things are going to be the same as how they are on the other social media platforms like Instagram or Facebook. Brands and businesses recognize influencers on social media platforms that can help market their products or build a brand image, and become a part of their overall marketing strategy.
And what better than connecting with influencers that are already getting a great engagement from hundreds of thousands of users? If you’re not aware, influencers get paid handsomely from these brands and businesses.
So if you can build a large follower base on TikTok that actively engages with your content, then you’re likely on track to become an influencer on the platform. However, you must note that a lot depends on the type of followers you have.
If most of your Tik Tok followers are say teenage girls between 13 and 18 years of age, then you would have a hard time landing lucrative deals with brands. This is because teenagers do not spend much, which usually kills the purpose to connect with them for businesses looking to market their products.
However, if a large part of your follower base consists of users over 18 or 20 years of age, then you’re likely on to building a profitable influencer account.
Building Product-Based Accounts
If you have decided to focus on making money with TikTok right from the start, then starting a product-specific TikTok account is the way to go. Basically, the content you will create on this account will be all about the product or niche you choose, though it still has to be creative and engaging or you won’t get enough followers.
Once you build this account up well, you have two primary options when it comes to the monetizing part. First, you can start your own dropshipping store where you will sell your own products and get them shipped from the suppliers. It isn’t going to be as easy as on other social media platforms as TikTok doesn’t allow including links in your posts yet, but you can still include them in your videos.
Second, you can simply sell the account to a brand or business that’s already in that particular niche, or selling the same product you have based your account around. So for instance, if you have built your account around shoes, then you can reach out to brands that sell shoes (ideally the ones that are already on TikTok and trying to grow a follower base) and ask them if they would be interested in buying your account.
Becoming a TikTok Growth Consultant
Until a few months back, TikTok was hardly a thing. Recently, however, more and more brands, businesses and celebrities want to leverage the insanely growing popularity of the social media platform. Moreover, it even makes sense for them as TikTok users are super active and easy to engage, which is something much harder to achieve on the other social platforms.
But TikTok works much differently than other platforms like Instagram, and can be hard to crack for people that aren’t familiar with what works on TikTok and what doesn’t. This is where the need for TikTok consultants come in, which is definitely a growing need as more and more brands look to establish themselves on TikTok.
Basically, your job as a TikTok consultant is to tell brands, businesses and celebrities what they exactly need to do to build a large following on TikTok. There are actually different ways in which TikTok consultants work for brands, including creating content for them and also managing their account.
26-year-old Sean Young makes over $10,000 a month doing exactly this, and he’s only working 4 hours a day currently. One of the best things about being a TikTok consultant is that you have way less competition than working as a social media manager on other platforms.
This is because while brands hire a social media marketing agency or freelancer for the rest of their social media accounts, they want someone experienced and specialized when it comes to TikTok, as it works very differently than the other platforms out there.
Needless to say, you must have a solid follower base as well as good engagement metrics on your TikTok account to build credibility before you have brands and celebrities reaching out to you for help.
Merchandising is a popular way to monetize for pretty much every social media influencer with a loyal follower base. Selling t-shirts and other forms of merch can help you make a pretty good income if you have a large enough follower base that’s active and well-connected with your brand.
There are many platforms that allow you to sell your own merch products, including Shopify, Etsy, Redbubble and so on.
Live streaming is a particularly good area to focus on if you’re looking to go down this route, as it helps connect with your followers and promote your products better.
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