Tuesday, 17 March 2020

How to make money on TikTok 2020

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Tik Tok has a lot of interest right now and not a lot of content. So those who are creating content are seeing crazy views and some people are going viral literally overnight. Here's the thing, the same thing happened to Instagram just a few years ago. People got interested in this app that was normally just for teenagers, but they thought that the way to make money through Instagram was to get a lot of followers.

But now that we see Instagram as a full-blown marketing tool for business where you don't actually need a lot of followers, I can see that more and more people are looking to Tik Tok. They don't want to wait years to figure out the platform and how to monetize it. They want to jump on it early so that, they can capitalize on all the interests today and start making money from Tik Tok

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So if that's you, if you're interested in jumping on a platform early and looking at how to actually monetize your following, that's what I'm covering in today's topic: six ways that I'm seeing people actually make money today from Tik Tok. And stay tuned until the end. I'm going to share with you why Tik Tok might be more powerful than even Instagram. Yep. I said it. I am a full-time Instagram marketer, but I definitely have my eye on Tik Tok and I'll share with you all my thoughts at the end of this topic.

How to make money on  TikTok live

My name is Vikas Chahal. I'm helping entrepreneurs like yourself turn Instagram into a new revenue stream in your business. And today I'm covering Tik Tok. Yes, another social media app that a lot of people have their eye on and a lot of people are making money from. So based on my research, here are six ways that I see people monetizing Tik Tok today.

Read also: Top 5 Video Maker & Downloader Apps Like Tik Tok 2020

Six ways of making money on Tik Tok

1. The first way, How to get money from TikTok

The first way people are making money from Tik Tok is growing accounts and then selling them. So this is becoming more and more popular in the eCommerce or product space. Similar to Instagram, you're going to choose a niche and then go ahead and create entertaining content, ideally content that goes viral to attract and draw that person who would be the ideal customer for your product. So there are people in the space today who are growing Tik Tok profiles around a certain interest. Usually, it's a niche topic and they might not have anything to sell, but they're going to reach out to brands in that industry and sell their Tik Tok profile to them and people are legit making money this way. The good news for product brands is once they have that account in their hands, it's actually fairly easy to sell products.
One way that people are selling products is through Tik Tok live. They are launching products while live streaming or they're actually holding kind of auctions while live streaming. And of course, there is the link in the bio where you can always drive your followers to purchase your product. So if you're the type of person to love Tik Tok, and you just want to grow a following around a certain topic and really build that community around a certain topic, go for it and then reach out to those brands who would love to have access to those followers and sell them your account.

2. The second way, how to make money on TikTok live

The second way people are making money from Tik Tok is going live and collecting donations from viewers. This feature of Tik Tok, I find fascinating. It's really a built-in monetization platform, literally from day one. So from what I've seen, here's how it works, When you're a Tik Tok user,
you can go into your profile and purchase something called coins. So for a hundred coins, I think
it's like $1.39 from what I saw. I'm in the settings of my account right now and I'm just going to balance and it's showing me that I have a balance of zero. I haven't bought any coins, but I can recharge. And for a hundred coins it's going to cost $1.39. Now, what do I do with these coins? The way this is designed is that when one of my favorite creators is going live, I can send them coins as kind of a way to give thanks for all of their effort in creating the content they do. What does the creator do with this coin? The creator turns the coins into diamonds and those diamonds can be converted into cash via PayPal. Cool, right? So if you build up a profile yourself, you have a lot of followers, your followers can donate coins to you, which turn into diamonds in your account, which you can then convert into cash through PayPal. On the Chinese version of Tik Tok, that app's called Douyin, there is a next-level feature similar to this. When creators are live, they can attach a shopping cart to a product that they sell.

So it's kinda like QVC or the shopping channel. You can go live, hold an auction, from what I can see, and people can buy your product while you're living through the shopping cart feature. So my guess is this feature is going to come to accounts worldwide sooner rather than later.

3. The third way, how to earn money on TikTok

The third way to make money from Tik Tok is to manage influencer campaigns. This isn't a new idea. There are straight-up influencer agencies to serve Instagram influencers already. So the same concept applies to Tik Tok. You can be the middleman or the broker between a creator on Tik Tok and a brand who wants to work with that influencer. So from creating the agreement, um, managing both parties, making sure the deliverables are all met, just being that coordinator, you can charge a service fee to manage campaigns like that. Tik Tok as a platform is smart. They have an internal influencer program already built-in. So if I'm a big brand and I want to reach out to Tik Tok and say, Hey, this is the space I'm in, what influencers should I work with? I can do that. It's so smart. The only thing is I'm going to pay a percentage based on Tik Tok brokering that agreement. So that's why there is already a service where other parties or agencies can make that agreement outside of Tik Tok. It helps brands save a little bit of money.

4. The fourth way, how to get the money you make from TikTok

The fourth way you can make money from Tik Tok is by using their ads platform. So just like Facebook and Instagram ads, you can go Google right now, Tik Tok ads and sign up for access to their ads platform. So this is pretty self-explanatory if you've ever run paid traffic before, but if your market's on Tik Tok it might be worth you creating a few ads, putting some budget towards experimenting there and seeing what happens. Maybe you can sell more of your products through Tik Tok.

5. The fifth way, how to make money on TikTok Reddit

The fifth way you can make money from Tik Tok is by offering management services for creators on the app. So you might've seen this, but some creators on Tik Tok have millions of followers and sometimes this happens really fast and overnight for that creator, it's like having a business land in
their lap so you could step in and offer services to help them with their content strategy, their creative strategy, maybe managing offers and deals that come their way. But if you're, if you kind of has that background in production or storytelling, you could definitely apply that to offering management services to Tik Tok creators. Last but not least, once you become a pro on Tik Tok, and maybe you really understand how someone could take a video that maybe gets a hundred views and help them get 100,000 views, well you can simply offer consulting services. So this is a really great way to leverage your expertise from the platform and help people who want to be Tik Tok famous or they want to be creators, actually boost their strategy so that their videos get seen by hundreds of thousands, if not millions of people. Of course, you need to have the background and the experience in this first to offer this as a service. But once you're there, I mean people will pay to have your experience and your brain on their account. And if you help them get any deals or influencer agreements, you can even negotiate a percentage or a cut of that deal simply because you are their consultant and you have helped them go viral on Tik Tok. So there you have it.

6. The six-way, how to make money on TikTok video

Six ways that I see people making money from Tik Tok today, even while it's still really, really early on. So let's go back to my first point at the beginning of this video. Why do I, an Instagram marketer, think that Tik Tok might be more powerful? The way I see it, Instagram stories are kind of similar to Tik Tok videos, but they expire after 24 hours. This is where Tik Tok is powerful because it actually is more like YouTube, meaning you can publish a video today, but maybe the algorithm picks it up months later and starts pushing that video into the feed of people who would like that video? Well, that has a lot of power to it because again, something you make once doesn't disappear after 24 hours. It can drive a lot of traffic and eyeballs to you months after the fact. That reason alone is why people are getting sometimes millions of views on their Tik Tok videos with very few followers. It's because the algorithm is picking up your video, pushing it out. Again, there's a lot of interests and not a lot of content. So the algorithm is pushing it out to the people who it thinks is going to be receptive to that content. And hello waking up to millions of views with very few followers. I mean in today's day and age, I don't think there's any other app or platform that can give you those kinds of results right now.

Read also: Viva Video Editor pro apk download free New Version App For Android


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