With the rise of global users, TikTok’s global commercialization process is also significantly accelerating. Last year, TikTok lowered the threshold for the link in bio, which was previously the privilege of blue V certification. Since then ordinary users and even newly registered users can put a third-party link in their profiles. Also, after the internal testing of a shopping cart in the US, TikTok has completed its first live e-commerce test in Indonesia in March 2021. The number of simultaneous online live audiences exceeded 10,000 at the peak.
These changes fully show that TikTok is adding more traffic portals and commercial values to itself, and this will inevitably attract more users with spending power to enter, thereby changing the current problem of TikTok users being too young.
Obviously, this is the best time to change TikTok traffic into money now, here in this passage I will list the best ways of how to make money on TikTok.
1. Creator fund
The most basic monetization method is the official creator fund, which is a completely thresholdless monetization method.
The original intention of the Creators Fund is to reward creators of high-quality content and inspire creators to publish more high-quality content because TikTok is in urgent need of high-quality content at this stage. There are currently more than 2 billion TikTok users, and they are still rising rapidly, but there are less than 200,000 creators, and high-quality content is very lacking.
On July 23, 2020, TikTok announced that it would invest US$200 million in the creator fund in the United States; In July of the same year, the platform announced that the US Creators Fund would increase to US$1 billion in the next three years; In September, European funds were also opened one after another, and it is estimated that 231 million pounds will be invested in the next three years. The total volume of the creator fund that has been announced is quite huge.
Creator Fund Application Conditions:
(Currently, the creator fund covers the United States, the United Kingdom, France, Germany, Spain, and Italy)
2. Live gifts
Fans can give gifts in the live broadcast room. After accumulating enough money, you can cash out the coins (virtual currency) in TikTok.
The number of coins purchased by TikTok users ranges from 100 coins to 10,000 coins. The price of each package varies in different events, depending on the size and currency of the package they purchased.
For example, a user can purchase 100 virtual coins for USD0.99. They store the coins in an online wallet, and then give them to Tik Toker they like when watching the show. TikTok and google/Apple (depending on your platform) will take part in the commission. The live broadcaster can redeem gift points at any time, up to USD 1,000 per day.
Live Application Conditions:
To go live on TikTok, you must have at least 1,000 followers. Also, while the minimum age to make an account is 13, you have to be at least 16 to go live. So even if you have over 1,000 followers, if you’re 15 or younger, you still won’t be able to use the feature.
3. Sponsered videos
Just like most other social platforms, on TikTok, as long as you have enough fans, each brand chamber of commerce will contact and cooperate with you. For example, if your fan base is between 13 and 18-year-old girls, then brands that expect to sell products to teen girls will be of interest to you. The top Tik Toker can earn between $50,000 and $150,000 through successful brand cooperation.
How to pick up the ad? Just leave your email address on the account homepage, and the other party will take the initiative to send emails. Besides, after reaching 100,000 followers, you can apply for the Creator Marketplace, the official TikTok Ads program. Advertisers will contact the account they want to cooperate with.
There are three main sources of advertising:
The first is the simplest, using the music specified by the advertiser as the background. According to the account situation, you can get 100-250 US dollars for each work published.
The second is that advertisers request to upload work with a brand exposed. The general price is $150, and the product will be given away for free.
The third is to sell videos to video platforms. Many local video platforms will send emails to buy your videos if they are interested. The quotations are also different, and the economic situation varies in different regions. Some have received 150 US dollars for one work.
4. Sell products
If you have a sufficient fan base on TikTok, you can consider creating an online store to sell products. Running an online store can be somehow complicated, but this is not the only way to sell your products.
In fact, you can create videos to sell any type of merchandise. One way is to participate in affiliate marketing. You can recommend certain products to fans and provide a link to take them directly to the online store to purchase products. According to the transactions reached with related commodities, you can earn part of the commission.
Also, if you want to sell your own products or products of your own brand, there are certain kinds of platforms that help you to do so, for example, WED2C. It can help you to build your own store for free, also they take care of supply, stock, and shipping even costumer-service. The only thing you need to do is marketing and directly turning traffic into money.
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