There are a lot of ways to earn money on social platforms, including TikTok. According to the stats, TikTok has more than 800 million users across the world. Also, it is the fastest downloaded app in 2020 and the trendiest social platform.
In this blog, we will discuss what the ways to make money in TikTok are. It’s not an easy thing and also not a very difficult thing too.
1. Get Donations From Audience – TikTok Coins
TikTok coins are a virtual currency on TikTok that can be bought by using real money and gifts to the influencers while making live streams. The major aim of the TikTok coins is that you can help your favorite creators financially in a fun way. These TikTok coins will buy fun emoticons to support your special creator, who will gain more than 50% of the coins which are successfully converted into TikTok diamonds.
It goes like this:
- Audience purchase the TikTok coins with real money
- Viewers can give the gifts to their favorite creators when they are in live streams
- The particular creator gains more gifts which are converted into diamonds
- Diamonds = USD (TikTok deposits it their verified PayPal account)
2. Collaborate with Influencers
TikTok is also one of the influencer platforms to build brand awareness, reach out your content among the audience. If you collaborate with popular influencers, you will get more followers and money simultaneously. So, choose the particular TikTok influencers, and people’s eyes turn into your product or brand.
If you get more followers to your account, you will increase the engagement rate of your profile. Meanwhile, you need instant views and likes, and you will buy TikTok followers for your videos.
Due to TikTok’s fast-growing presence, getting databases constantly about influencers will help choose the TikTok stars. A fantastic place to start for leveraging influencer platforms is the TikTok marketplace.
3. Affiliate Marketing
Doing affiliate marketing is the common feature of all social platforms. Even the TikTok platform helps to do affiliate marketing.
This feature was rolled out in late February 2020, so it’s still relatively new. It’s not sure if the path is only for particular profiles with a minimum following or if it will be possible for everyone upon starting an account.
For now, it looks like TikTok supplies this access to viewers who have gained at least 1K to 4K followers before combining the “website” feature. Once you do get it, it will give up under edit profile between your username and bio. In this case, you can add a link in your bio such as a shop, blog, and more.
4. TikTok Live Auctions
The Chinese version of TikTok takes TikTok coins, and it converts them to be diamonds to the next level by enabling creators to combine a “shopping cart” to their live streams to sell a product directly. So instead of gaining financial support through virtual gifts, TikTokers would sell their products straightly in their live streams and earn money from their shopping cart.
While this point only lives on the Chinese version of TikTok right now, we can expect it to be launched globally anytime soon. So keep a lookout!
5. Send Viewer to Your Email List
We all know how powerful email marketing is for all kinds of businesses. If you’re not “to win it” on TikTok, you can still utilize the platform to your benefit by attracting your perfect audience and redirecting them to register your email list.
With the TikTok platform being new, now is the time to get more audience while the platform is still in its prime.