Short-form video platform TikTok rolled out new ways for creators to earn money on the platform in December 2021. Previously, TikTok creators could solicit virtual gifts during her TikTok LIVE videos. However, his new TikTok Creator Next portal offers additional monetization methods.
After a great year in which Sensor Towers reported that U.S. consumers spent nearly $110 million on the app, now is the perfect time to invest in your TikTok marketing and sales strategy. Learn how to make money on TikTok with these techniques for small businesses, social media influencers, and individual creators.
Design in-feed ads using TikTok Ads Manager
Business users can create short native video ads on TikTok to increase product sales and website traffic. Get inspired by studying how big brands are finding success with his TikTok. However, advertising on TikTok can be more expensive than on other platforms like Google or Facebook.
Ad prices start at $10 per 1,000 views and require a $500 minimum. Due to the high cost, small businesses may prefer to use other channels for advertising and focus on selling their products on TikTok.
[Read more: 6 Social Savvy TikTok Strategies for Small Businesses]
Join the TikTok Creator Next program
TikTok Creator Next is TikTok's monetization portal. From here you can access the TikTok Creator Fund, TikTok Creator Marketplace, LIVE and video gifts and tips. However, the TikTok Creator program is best suited for influencers and individuals, as it is not open to business accounts.
TikTok eligibility requirements for US users are as follows:
- Has over 10,000 followers on TikTok.
- Authors must be at least 18 years old.
- Be in good standing and not violate any Community Guidelines.
- Your video has been viewed at least 1,000 times in the past 30 days.
- 3 or more posts in the last 30 days.
Join the TikTok Creator Fund
In 2020, TikTok created the TikTok Creator Fund. According to the Digital Marketing Institute, TikTok has set aside $200 million for creators in the United States, and the company expects “this fund to grow to $2 billion worldwide” by 2023. I'm predicting it. Eligible TikTok Creator Next users earn money based on engagement and video views. Additionally, you can increase exposure and gain endorsements and sponsorship deals.
Advertising on TikTok can be more expensive than on other platforms like Google or Facebook.
Create videos that drive sales
TikTok videos can increase brand awareness, improve your company's reputation, and drive traffic to your website. We create videos that increase sales with a strategy that combines entertainment and informational content. Share a glimpse of your team packing orders or get a behind-the-scenes look at your office.
Avoid overly promotional videos. Instead, research your target audience and niche market. Create interesting content, such as beauty tutorials using products from your store.
[Read more: TikTok for Small Business: Tips from Business Creators]
Collect gifts and tips using videos
TikTok users can show their appreciation for your videos by sending tips and gifts. Viewers can tip up to $100 per transaction and must have a Stripe account to process. Another way to make money on TikTok is through Diamonds. Users can gift diamonds through LIVE or regular videos. TikTok pays approximately $0.05 per diamond. Duets, sponsored content, Stitch videos, ads, and promoted posts are not eligible.
Find a partnership in the TikTok Creator Marketplace
Apply to join the TikTok Creator Marketplace to connect with brands and get collaboration opportunities. Like his other TikTok monetization methods, you need to meet the qualifications for the TikTok Creator Next portal. Brands find you in the marketplace and send you an invitation to collaborate on their campaigns. Alternatively, you can search for open campaigns and apply to partner with different brands. Contracts and payments vary by brand and campaign.
Add affiliate links to your profile
Affiliate marketing is a great way to make passive income on TikTok. This works well if you're part of an affiliate program like Amazon Associates or ClickBank. You'll earn a commission every time someone clicks on your link. Sometimes, affiliate partners will share a unique promo code that you can mention in your videos.
Many TikTok users use the free LinkTr.ee platform because you can only have one link in your profile. When a user clicks on her LinkTr.ee link, several URLs are displayed, including affiliate and his website links.
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