TikTok was originally an enjoyable app created for kids, to an application that is now used by people of all ages to earn Money on TikTok around the globe by thousands of millions.
Zhang Yiming, a 38-year-old software engineer from China was the first to create the parent company of the app, ByteDance. The brand was then changed in the name of Douyin within China in December of 2016.
In the midst of it all, TikTok (formerly musical.ly) was a huge success worldwide. There are six million daily TikTok users which makes it one of the most popular social media platforms. According to a popular Social servicing Agency named InstaBoost, TikTok received $1 billion of funding for the Creator Fund and has a worth of more than $50 billion, you’d be inclined to believe that making material via TikTok is no anymore an act of humor.
There is a fantastic opportunity to earn lots of money online through TikTok. It’s not necessary to be a professional marketer or have a specialized technical knowledge also. Making money with the platform for video sharing is easier.
You can create live-streamed videos that reach a wide public, encourage viewers to give or make money through sponsorship deals with well-known brands. You can also advertise your products and brand. Let’s discuss the best ways to earn money from TikTok in depth. Be aware that the amount of money you earn is contingent on a myriad of variables which I’ll discuss in the following paragraphs.
1. Get Paid Through TikTok’s Creator Fund.
TikTok Creator Fund can be described as TikTok’s method of recognizing and supporting creative creators on their platform. This is the latest initiative of the application to make it a top platform for content created by users.
Similar to many other mobile apps, TikTok Creator Fund doesn’t depend on the model of advertising. The amount you receive grows with the popularity of your channel’s content and channels. It also depends on other factors such as views from real accounts, the geographical location where your audience is located, as well as much more. Since the content on TikTok is constantly changing day-to-day the funds you have will fluctuate daily.
You must meet certain conditions to be able to participate in the program, which includes:
- You must be 18 or older.
- At least, you must have 10K followers who are authentic.
- At least 100K real video views within the last 30 days.
- Based in the U.S., UK, Germany, Italy, France, and Spain.
- You have to share original content that is in line with the community guidelines on TikTok
Also, you require a Pro account to be able to apply to this program. Creators Fund Program. You are able to apply to the program by going to the settings of your account after which you can select “Pro” Account option, after that “TikTok Creator Fund.”
Creators Fund Dashboard
You can also transfer money ($10 or less) into PayPal or Zelle within 30 days after the month’s end. But, for all the controversy surrounding the program, it does not aid in making TikTokers a good amount of money.
For example, Anika, a TikTok creator who has more than six million views as well as a million likes, was getting around $200 in the span of five months or about. TikTok Creator Fund TikTok Creator Fund could allow you to earn enough to spend on Christmas gifts similar to apps that make money but it’s unlikely to be enough to put an impact on your student loan.
It doesn’t mean that you won’t earn a lot of money via TikTok. You most definitely can. You can work with sponsors, advertise brands, and receive virtual presents and much more.
2. Earn Money on TikTok through donations
One of the best ways to earn money from TikTok is to collect donations from your followers or viewers. Buying TikTok followers will also help in this regard. It is similar to Twitch which lets your viewers give money to support their live streams. As creators, you can switch on Live Gifting while live streaming on TikTok and be the rewards in real-time and then cash out your winnings through PayPal.
There’s a subtle twist in the story However, there’s a slight twist here.
- In lieu of money, TikTok offers a variety of coins in the app that users must purchase prior to gifting them to their favorite celebrities.
- The coins can be found under settings >> Balance Recharge tab.
- TikTok In-app Coins
Here are some stickers that you can get:
- If you find that your viewers enjoy your content, they’ll begin offering to you presents during the LIVE broadcast. The gifts will be displayed on your screen for all to view.
- Whatever the gesture may seem however, it is good to receive a message from someone who has sent you a note to acknowledge your efforts.
- Don’t be a liar and give a shout-out whenever you get a gift in order to engage with your audience. If they feel valued by their gift, they’ll be more likely to spread the word about your business which will help boost your profile.
A simple sincere “Thank You” is good enough!
After the completion of your stream, you’ll be able to view the total amount of gifts you’ve received. You can easily check your balance under your account’s “Balance” tab from your account’s settings. You’ll receive “Diamonds” (virtual credit) to exchange gifts that are based on your popularity. They’ll also take the amount and types of gifts in consideration. The typical diamond amount is to 50percent of one coin.
As creator can trade the Diamonds to real money. It might appear to be a small amount of money initially. However, the more donors you have there are more presents you will receive that could add up to an impressive amount.
3. Earn Money On TikTok with sponsorships
Because of its popularity advertisers and brands are prepared to pay huge sums of money to creators for the privilege of promoting their products through TikTok.
Many brands approach creators through their agents, particularly in cases where the creator is popular on TikTok. However, there’s another way creators can earn money directly from advertisers via TikTok Creator Marketplace.
TikTok is the sole social media platform to provide a built-in platform that allows content creators. The Creator Marketplace is an official collaboration platform that connects brands and creators of TikTok. It allows creative content creators to collaborate with brands to run paid advertising campaigns. You increase awareness and draw clients to your brand by mentioning it or mentioning products in the video. You then get compensated for the posting of sponsored content.