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Attention all TikTokers – keen to create income as an influencer? If you’re passionate about creating content, then read on to discover the range of ways you can monetize your account and grow a profitable business.
While there isn’t a predetermined minimum number of followers or likes required to start earning cash on TikTok, you will certainly increase your earning potential by having a sizable and, more importantly, engaged audience.
The key to making money on the platform is to focus your energy on producing high-quality content that genuinely resonates with your followers. You’ll also want to figure out which monetisation methods are sustainable for you longer-term.
A number of factors greatly influence the amount of money you can make on TikTok. These include:
At the top of the scoreboard for 2022 is Charli D’Amelio, who reportedly made an annual earning of a cool $17.5 million USD. With 148 million followers, she has twice been included in the Forbes list of Top 7 highest paid TikTok stars, with her sister Dixie not far behind her. Charli’s content is largely dance videos. Time to polish up your choreography skills.
Anyone making their living from TikTok has dedicated a great deal of time, creativity and effort to build their audience, keep them engaged and generate ongoing quality content. It’s important that you are mindful of these realities when you set out with the goal of wanting to generate income from any social media platform.
If you stay focused, plan your content and ensure what you create is high-quality and relevant to your target audience, you will be setting yourself up with the best possible chance of making it happen.
With this in mind, here are some specific approaches TikTokers take to generate income.
Sponsored content and paid partnerships is one of the most common ways TikTokers earn coin on the platform. This approach involves creating and posting content that promotes a specific brand or product. In exchange for creating this content, the TikToker receives payment, or sometimes products or services from the company. If you do work with brands and you are being sponsored to create content, it’s very important to disclose this to your followers to ensure you remain transparent.
Another popular method of earning from TikTok is the promotion of products via an affiliate program, where you include a tracking link that monitors follower click throughs in your TikTok bio, or in your video description. When one of your followers clicks the link and makes a purchase, a commission is sent to you.
Think t-shirts, caps and any other item you can print a catch-phrase, brand name or logo onto. Some TikTokers create their own merchandise and sell it to followers via their account. It’s a way to grow your personal brand and increase connection with your followers.
By running virtual events, including workshops or webinars, you can increase engagement with your followers by offering them a different experience. Some influencers will charge a fee for attendance, or offer something to purchase at the end of the experience, perhaps with a discount for the offering to those who attended, with the price increasing the next day (to encourage purchases are made then and there).
Influencers have been known to ask for donations from their followers, with payments made through platforms such as PayPal. If you are offering ongoing high quality content to your followers, this approach could work.
Like consultants for any other social media platform, a TikTok consultant helps individuals, brands and companies devise and deliver marketing strategies via the platform. A consultant might work with their client to create content calendars, identify influencers to partner with or analyse and measure how effective their campaigns are.
General coaching around use of the platform is another possible service a consultant might offer clients who are new to TikTok, or social media altogether, along with approaches to growing their online presence. Ultimately, the consultant role is to help clients use TikTok to reach their marketing and branding goals.
There are a few ways that influencers can get a payout from the platform directly:
To leverage your social media influence, consider pairing your TikTok account with one or more other social media platforms. This means you can adapt and share content across them all to extend your audience reach.
Investing in one of Academy Xi’s practical Social Media Marketing courses, created by industry experts, will teach you how to create tactical content that resonates with your audiences. You’ll also learn how to execute a social media strategy, with guidelines on how to generate original content that attracts new followers.
Get in touch with a course advisor today to discuss your skills and training options so you can begin your TikTok influencer journey.