Last year, TikTok reached the one billion milestone of monthly active users. This surge in popularity means TikTok features numerous revenue possibilities, especially when taking into consideration that around 37% of TikTok users in the US earn $100,000 or more yearly.
Let’s go over four of the most efficient monetizing strategies on TikTok:
1. Collaborate with a reputable brand.
TikTok defines sponsored content as videos in which you earn compensation for watching them. Isn’t that the goal? You might, for instance, be offered a free skydiving vacation in return for writing about a brand’s soy candles, or you could be paid to film a TikTok video praising the fragrance of the candles. (Although we don’t suggest you take advantage of any free skydiving offers.)
And there is a lot of enthusiasm amongst businesses to become involved in such compensated partnerships. According to a survey on influencer marketing, just 16% of American advertisers intended to utilize TikTok for influencer campaigns in December 2019, while 68% did so by March 2021. So, it’s safe to say that influencer marketing has taken off there.
The same eMarketer survey found that in the wake of the recent COVID-19 outbreak and the persistence of social justice movements, businesses are eager to form alliances with people who have built up a loyal fan base.
That’s why you must avoid forming partnerships with organizations that share your values but not your beliefs. Your approach to communicating with your target demographic is one of a kind. Inspiring soup analogies, language fluency, and impeccable manicure skills are all nice, but your fans also care about your moral compass.
Start your sponsored content campaign off well by following these guidelines.
Only contact companies or groups that you have a genuine interest in.
If you’ve been using TikTok to document your raw vegan lifestyle but then post about your favorite burger restaurant, your followers will quickly catch on. This is not only difficult to understand, but it also makes you seem to be a traitor. Make sure that any sponsored material flows naturally into the rest of your writing.
Get your TikTok account noticed by putting up a press kit.
A press kit serves as the equivalent of an actor’s trailer. The document features your contact details, images, and accomplishments while extolling your many virtues (and giving companies strong reasons to partner with you). Get them reaching for their popcorn to see what happens next. There are several places online to get free press kit templates, including Templatelab.
Make a few unsponsored posts.
Companies want proof that you can increase their sales with your efforts. If you write a few (unsponsored) articles gushing about your favorite pair of shoes, that niche sock manufacturer may finally want to work with you.
Toggle the Branded Content option.
People don’t appreciate being duped, and it turns out that applications don’t either. TikTok included the Branded Content option to ensure that its users were being honest. If you’re developing material for sponsorships, click the button (or risk your video being taken down).
2. Collaborate with an influencer.
This tactic operates in opposition to the first. Reach out to an influencer whose content is consistent with your brand’s aesthetic if you are a well-established company trying to expand your visibility (and revenue) on TikTok.
Tomoson found that businesses made $6.50 for every dollar spent on influencer marketing, with the top 13% reporting returns of $20 or more. Furthermore, 50% of marketers report that the quality of consumers acquired through influencer marketing is greater than that of customers acquired via other channels such as email marketing or organic search.
Overall, it’s safe to say that influencers exert their impact. Effectively. (Yes, even the little guys!)
The United States-based TikTok Creator Marketplace is where you should look for the ideal influencer. A marketplace where brands and opinion leaders may meet. Any company is welcome to participate, but influencers must be invited (for now).
Find material related to your company by searching for hashtags like “dentist,” “fainting goats,” and “thrifting” that aren’t exclusive to the United States or the TikTok marketplace. You may also simply browse the app on your own, like videos you want to watch, and skip the ones you don’t by tapping the “Not interested” button. The desired content will begin to appear in the app. Such intelligence is terrifying.
Examine each creator’s page carefully—we’ve all heard the age-old tale of the sobbing influencer’s non-racism, non-apology. Avoid TikTokers who are bothersome. It’s 2022.
3. Use Tiktok to promote your items.
Creating TikToks that feature your items in all their distinct glory is the most direct path to generating money if you already have a well-known product line. Your bio should provide a link to your store.
Tika the Iggy, a homosexual celebrity who happens to be an Italian Greyhound, has his own line of custom merchandise. Thomas Shapiro, the dog’s owner, is an online vendor of Tika-branded apparel. The cosmetics industry is also booming, with popular lines like Fenty Beauty and Cocokind selling out of merchandise in record time.
4. Access TikTok’s Creator Fund disbursements
This is the legal means of generating money with the app in question. For people who want to “support those who dream utilizing their voices and creativity to ignite exciting careers,” TikTok has announced a new Creator Fund with a USD 200,000,000 commitment, to be made public on July 22, 2020.
People all around the globe and the internet went crazy over it, so they quickly announced that the fund would double to $1 billion by 2023. How exactly do you go about acquiring any of that coveted creator money? Before applying, there are a few prerequisites to check off.
- Live in the United States, the United Kingdom, France, Germany, Spain, or Italy.
- Have reached the age of majority (18)
- Get at least 10,000 likes on your posts
- Have attracted at least 100,000 views in the last month
- Keep your account in compliance with the TikTok Community Guidelines and Terms of Service.
- Those who have TikTok Pro may submit applications to the Creator Fund directly from the app (the best things in life are not free).