How to monetize and make money with TikTok in 2021
By now, there is hardly anyone left who hasn’t heard of TikTok. Hence, one of the objectives of professionals, brands and companies is to start monetize TikTok and learn how to earn money with this social network that is now a trend.
The video network of Chinese origin has been the absolute protagonist of the moment, from its explosion in popularity during 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 7 ideas to get you started.
7 ways to make money with TikTok
1) Fund for TikTok creators
Amidst the Speculation about the acquisition of the app in order to continue operating in the United States, TikTok announced the launch of a special fund to reward the creators of the platform . As explained by those responsible 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 US 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 good reception of the initiative, shortly after TikTok announced that the fund would be expanded to one billion dollars for the United States in the next 3 years and more than double that amount for the rest of the world.
This initiative allows creators to earn money with TikTok directly . Thus, the social network wants to avoid falling into the same trap as Vine, which had to end up closing because the creators abandoned it for not having a monetization model.
2) TikTok Shopping
At the end of October 2020, TikTok announced a global collaboration with the online store 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 own products on Shopify and promote them through the social network.
Shopify users can create, execute and optimize marketing campaigns on TikTok directly from the Shopify control panel, by installing the TikTok channel on the Shopify App Store. With this tool, merchants can create native and shareable video content.
It is also possible to separately measure conversions from TikTok using a specific pixel.
To incentivize that the Give it a try, TikTok offers $ 300 ad credit for Shopify merchants to start advertising on TikTok.
3) Links direct
In February 2020, TikTok began to incorporate the functionality of insert links in user profiles . Similar to the famous “link in the bio” of Instagram, this allows creators to take advantage of visits to their content to generate traffic to a web page.
To use this functionality, just click Click on the “Edit Profile” button and add a website just below the bio. It is not necessary to include the “https”, just starting with “www” is enough.
The option to include links in the bio opens two possibilities for creators to earn money with TikTok:
Link to a brand’s website . Influencers can more easily reach endorsement deals with brands now that they have a very simple way to measure the success of campaigns in terms of traffic to the advertiser’s website.
Link to your own products and services . If the creator has an online store where he promotes his own products and services, or an affiliate website where he promotes third-party products in exchange for a commission, the link in the bio allows him to take advantage of the traffic from TikTok to monetize it.
4) TikTok Ads
In early 2019, TikTok launched a beta version of its advertising platform for the first time . Since then, many brands have been encouraged to use it to promote their products, including major brands such as Nike and Apple.
The advertising on TikTok has multiple formats such as:
Brand Takeover : announcement of large format, static or dynamic, that appears when users open the publication. It is limited to one advertiser per day.
Image: Social Media Today
TikTok ad revenue does not directly impact content creators, but they can use it to promote your own products and services or your presence on the platform.
5) TikTok Creator Marketplace
TikTok Creator Marketplace is the official platform so brands and creators can collaborate on TikTok. It is a site specially designed for brands and influencers to connect to reach agreements with each other.
For content creators, TikTok Creator Marketplace provides an easier way to monetize their work on the net. For advertisers, it is 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 with a system of invitation. Businesses can submit their request for use through the TikTok website.
Once registered, advertisers can filter creators based on different criteria: country, topics they are talking 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 of each post, interactions and actions, average performance and even rate of interaction. It also includes data such as the gender, age and devices of your followers and how your audience has grown over time.
Once the advertiser has selected the influencer that interests them the most, they can send them a message directly through the Creator Marketplace.
6) Individual agreements with brands
In addition to using TikTok Creator Marketplace , content creators and brands can also reach their own agreements to promote products or services .
As with any other sponsorship, the key to marketing with influencers in TikTok is looking for a natural fit between the brand and the person promoting it, so that its followers do not feel that they are being forced to consume advertising.
More than the number of users, the key for a collaboration to work is in the ratio of interaction of the audience 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 to abandon sponsorships with megafluencers, who often charge a very high price for collaborations, and instead opt for micro-influencers with niche audiences.
7) Coins and gifts
TikTok has a live streaming feature called Go Live, which can be used by creators with more than 1000 followers. This not only allows influencers to have more direct contact with their audiences, but also to monetize their presence on TikTok.
During a live broadcast, the influencers’ followers can give him virtual coins as a form of gratitude. In addition to donating coins directly, users can also purchase emojis and diamonds to gift to their favorite creators.
Users can buy these coins through TikTok, with a price that varies 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. The prices on Android and iOS vary slightly, but they move in these sections:
65-70 coins: 1.09 euros
330-350 coins: 5.49 euros
1321-1400 coins: 21.99 euros
3303-3500 coins: 54.99 euros
6607-7000 coins: 109.99 euros
In turn, 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.