TikTok advertising is still like the wild wild west in the sense that the app is skyrocketing and creators are creating many videos but the advertising on TikTok hasn’t been tried and tested for a long time. Although monetization was possible before, now it has certainly grown. So, let us explore various ways to earn money on TikTok.
There are several ways to make cash through TikTok but the general principle has always been the same as that of Instagram or YouTube. The more your followers are, the more engagement you have, if you play your cards right, the more money you are going to make.
How To Get Sponsored?
Brand sponsorship has always been a lucrative source for players, actors, and entertainers. It’s pretty straightforward when you have hundreds of brands fighting for a market in a capitalist economy, drawing people’s attention is the key.
So, the more followers you have, brands are going to place ads between your videos and they will pay you on the basis of people visiting your account. Brand collaborations can be of many types. Simple advertising or product placement is some mild ways of sponsorship. But collaboration with brands is also another method.
As you can see this is an example of TikTok sponsored by Blinger and wicked Cool Toys……
So, you must just make content and keep on generating the audience, and based on your personality and audience groups, brands are going to sponsor your videos. That is how it works.
Some Other Ways To Make Money On TikTok
1. Selling merch
Generating loyal fanbase is the first thing you must do. After that, you can sell merchandise to those fans. You can use your skills and make your own products or get some help from people who know what they are doing.
2. Live Streaming Using.ly
You can conduct live streams on TikTok if you make such streaming content. If the audience is engaged with it, a certain portion is going to be yours, and the rest is going to TikTok. This one is for creators with a large audience. If you have only a couple of dozens, maybe this isn’t the best way to earn money.
3. Cross Promotion of Other Platforms
If your TikTok account is much popular, less popular accounts might want to leverage off your audience and for a certain amount of money, you can give them shout outs. Besides, if you have a high following on TikToks, you can direct that audience to your Instagram or Youtube and make money through those platforms as well.
4. Consulting and Management services
You can make your TikTok account around consulting other creators about TikTok and help them grow. But you can do this only if you have enough knowledge and know what you are talking about.
Another way is that you can run management services for much famous TikTokers. The accounts with high following essentially are business as well and one can make money by offering management services in terms of buildind strategy and helping that channel to grow further.
These are the basic hacks to get sponsored and make money on TikTok. But, remember that the best hack is always to make a great content and generate a loyal fanbase because those are your real currency.