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On TikTok, any user can post seemingly anything at any time and go viral. Case in point: 2022's most-viewed TikTok videos include a giant chocolate giraffe, a toddler reminding his mother, “I'm still a baby,” Squishy the chipmunk coming out of hibernation, and, of course, that corn on the cob. It included children's remixes.
But creating viral posts and generating revenue are two different things. TikTok is notoriously difficult to monetize. So as we prepared to launch on the platform, we knew we needed a strategy to turn all the content we were told we needed into tangible revenue. Instead of wasting my time and money, I started looking for people who were already getting the results I wanted. If there's one thing I've learned over my decades as an entrepreneur, it's that success leaves a mark.
My target was someone who was in the top 1% of creators with a track record of monetization on the platform. That person was London Laserson. The 29-year-old viral content creator known as @Londonlaz boasts over 9 million followers and his 1 billion views. This makes him his 1,100th largest TikTok account in the world.
Keep reading for the lessons I learned. All of this can be applied to your business today to start earning money from your TikTok followers (hint — monetization is about deals with brands, not TikTok Creator Fund).
Related: 7 Easy Ways to Make Money Using TikTok
TikTok monetization case study
In the world of social media monetization, it's tempting to start with YouTube. The platform is known for its robust advertising platform, with top YouTubers earning significantly more than top TikTokers, at least according to Forbes estimates. This begs the question: why TikTok?
Whether you're tracking the social media landscape for business opportunities or social media's role in personal branding, it's clear that massive changes are afoot. By 2020, Facebook was already losing users in the United States. YouTube had a set of monetization tools, but they were becoming saturated. And then there was TikTok. While Facebook is shedding users, the short video platform is rapidly approaching 1 billion, a “hockey stick” growth rate, and both Meta and YouTube have similar short video features. was forced to launch.
In the years since 2020, Tiktok has left an undeniable mark on pop culture. Approximately 30% of American adults use TikTok. More than 50% of US users are over the age of 30 and spend an average of 80 minutes on the platform each day. News outlets like The New Yorker and NPR have also jumped on his TikTok craze, covering his viral trend and the creators who send it into our social consciousness.
Although TikTok is a new “IT” platform, there is room for multiple platforms in your monetization strategy. If you think of influence as a giant funnel, it's similar to the funnel you may have used for your venture's inbound marketing campaigns. TikTok is on top. You should post the most content there. Instagram, Twitter, Facebook, and Snapchat form the middle of the funnel, with YouTube at the bottom. In other words, Tiktok is the big net. Catch all the fish on TikTok and send it to YouTube.
Creators can earn money through the TikTok Creator Fund and TikTok Pulse, but so far most have reported disappointing returns. The key to making money on TikTok is getting brand deals. And it's all about learning how to sell smarter. This is a foundational skill for any entrepreneur, social or otherwise.
The most creative people on the planet aren't as creative as you are. They are just great salespeople.
Related: How to integrate TikTok into your video marketing strategy
How to start making money with TikTok
To make money on TikTok, you need social standing to show your strategy works, and examples to show you can do it with other people's brands. The rationale is simple. Why hire Joe Schmoe's agency when you can hire Gary V's?
In addition to landing your first brand deal, here are three steps to follow to monetize TikTok in 2023. To get a head start, leave the “follower” mindset out of the door. The value for the client is in the ROI, not the number of followers.
1. Create free ads until they go viral.
No one wants to work for free. But charging brands for content requires case studies. And to do that, we need a solid track record. How do you get started? Try some old-fashioned cold calling. Reach out to as many brands as possible and offer to create ads in exchange for free products.
If you have 20,000 followers, focus on case studies. Your pitch should be, “Let me create a free video for your brand and post it on my page.”
Keep running free ads until one of them goes viral. Once one of his videos exceeds 1 million views, he can start charging, which has never happened before.
2. Create a case study.
Once one of your ads goes viral, create a case study. But remember, case studies are not about follower counts. It doesn't matter if you have a million followers if no one wants to buy what you're trying to sell.
Your case study should clearly and concisely communicate the success of your brand campaign. Outline the “so-what” of your brand’s KPIs, the structure of your campaign, the specific results you delivered, and why those stats matter. Be sure to use analytics to explain how your campaign is performing against your KPIs.
3. Sell your case study.
Let's say a makeup brand's video goes viral. The next step is to provide your competitors with a case study of your company. Tell them you signed a brand deal with another brand on their space and got 1 million views. Then ask for the price.
Some brands focus on email signups, while others want campaigns to drive purchases, increase awareness, and even achieve a certain click-through rate. When marketing your brand, keep your KPIs in mind and present case studies that reflect your brand's goals whenever possible.
Most brands have never talked to influencers who care enough to understand the brand's goals. Become an influencer who cares enough to ask about your KPIs.
Once you've pitched your brand with a case study, it's time to decide on your creative. We proactively provide concept approval, as most brands require it anyway. Once you've posted your content and measured your results, create your next case study in your marketing toolkit. By doing so, you might be able to accomplish something on TikTok that few people have: not only monetize your followers, but earn enough money to never have a full-time job again.
RELATED: Here's why not joining TikTok is a big mistake
