How Do Tiktokers make money?

Making money through different social media platforms isn’t something new or surprising. Since social media has taken over, numerous users have become millionaires through smart and unique strategies. Some believe it’s all about luck while others believe it’s all about getting to know the game! However, Tiktokers with its 1 billion-plus of users has the second-highest rank in the league so far—after YouTube. Apart from entertainment and making videos “just for fun” Tiktok has become a great platform through which users have earned handsome money and fame, both.

You might have witnessed many popular figures emerging who took their first flight through Tiktok. You would be thinking “How’s that even possible?” let’s get to know today!

There are many strategies for making money on Tiktok, but I’ll tell you the main and important ones.

1.    Virtual Currency:

The coins that followers gift you on live streaming are collected as virtual currency. This sort of currency than can be converted into real cash. Tiktok users can purchase currency from amounts ranging from 100-10,000 and store them in their virtual wallets. As they surf through Tiktok and watch live streaming of the users they follow, they can gift those coins as a reward. However, Google or Apple (through which the app is downloaded) keeps half of the reward amount while the rest is kept by the user. Performers can convert gift amounts anytime they want, max up to $1000 per day.

2.    Brand Collaboration and influencer marketing:

Being a popular user on Tiktok is the same as being popular on other social media platforms. And definitely, similar are the odds. If you are a famous user of Tiktok and your posts are majorly liked plus commented upon, then there is no doubt that brands will chase you and ask for collaborating for their product promotion.

Didn’t get the point? Let me tell you how this whole system works;

Once you have popular videos circulated on Tiktok. Brands that are already hunting for influencers will visit your account and take a good look at your activities. Secondly, and most importantly they will look at the audience that follows you which the brands can target. Next thing they want your personality and portfolio to match theirs—or at least as close as it can get for best representation. Once you have suited their need, they might approach you with the appeal of brand collaboration and promotional activities in exchange for cash or meeting other professional interests and of course, fame comes along too!

Keeping this important fact in mind; the message regarding brand marketing should flow naturally as if it’s just another popular video. If the 2 things don’t match—it will have a pretty bad impact on the viewers which will make them question your originality and worth.

However, make sure to follow the FTC guidelines about influencer marketing while dealing with these circumstances.

3.    Addressing Brand Sponsored Events:

Users who are famous on Tiktok can earn money apart from the platform as well. It usually happens when users gain popularity on Tiktok and Brands sponsor them so that they can attend marketing events with the respective sponsorship. For example, certain models have recently emerged who were famous on Tiktok and then designers invited them over on fashion shows.

4.    Merchandising:

If you have managed to build enough popularity and a trustworthy audience, you can set up your E-commerce online shop and sell merchandise to your audience there. Witnessing myself, many renowned brands took flight through merchandising on social media and now they have a prominent mark in the market.

You can turn your Tiktok imagery into the brand and sell whatever you think you can master—may that be exclusive clothes, unique crafts, or services you can do best.

Once you have a good network built and running a business. The next step can be involving trusted parties in affiliate marketing or getting your hands into it yourself!

5.    Cross Promotion:

Being a prominent influencer on any social media platform gives you an equal opportunity to gain success on other social media platforms too. Just as Tiktok users gain popularity on Tiktok, so do them on YouTube. This gives you a golden opportunity for cross-promotion, and the more you promote, the more you are widening your network and marketing. Like I mentioned above about merchandising, you can cross-promote your merchandise and operate E-commerce on different social media platforms at the same time.

Winding up:

Unlike olden times, making money has become smarter and somehow easier through social media platforms. Tiktok has recently caught hype, and many influencers have seemed to emerge. Where did they start from? Just a simple fun video.

Now that you know how Tiktokers make money, why don’t you give it a try?