How To Make Money On TikTok For Beginners In 2023.
As you all know TikTok has been around for some years now and it's growing very fast. It is one of the fastest growing platforms on social media and has got a lot of people on the platform. With this great opportunity, there is a big chance of making a good amount of money from TikTok in different ways. You don't have to be a top content creator to make money but even with few followers or as a beginner you can make a decent amount of money.
Of course, the top creators make good money and if your content gets on top it will be an advantage to you. On these platforms, it's actually easy to get tons of views because TikTok pushes a lot of its content to a lot of users all over the world and since most of them use smartphones it's easy to get more views from all over the world.
Nevertheless, am going to show you ways to make money on TikTok as a beginner and make a living from it.
1. Sponsorships
Sponsors are willing to pay creators decent money so they can advertise their services or products to their audience. This strategy is suitable for influencers because you need more followers and the more your account grows the more you get sponsors interested in sponsorship with you.
You will receive a lot of emails from companies to partner with but you have to be careful picking them. Make sure you pick the right ones, the ones you are proud of working with them, the ones you've tested their product and find cool, or the ones in your niche. By doing this you maximize your earning potential and build a connection with your audience of trust.
Other than receiving cold emails you can also find sponsors in creators nest if you are already eligible. You can then apply as a candidate for the brands you are willing to work with. Make sure you are familiar of their product and work with brands your audience would love their products.
2. Selling Expertise
You don't need a large number of followers or an audience to start selling your skills. All you need is to show dominance and skill in a particular niche and after getting trust from people you will get a good amount of people interested in your advice.
This strategy works well since you don't have to do anything. All you do is give advice to your client on a specific area of work and they do the work.
Using TikTok you can leverage your income by getting to be known by a large audience. After gaining trust in you, you'll get more orders and this means more income.
3. Affiliate marketing
This is by far my favorite and it works well with TikTok. Basically, affiliate marketing is when you promote a product from affiliate offers and when a sale is made from your link you make a commission.
You need to make content on one niche and then promote a product or service in that niche. You can promote courses, online marketplace, software, gambling, dating, sweepstakes, training name them, and make money from them.
All you need is to create an account on the affiliate platform, find a good product that you think people will like or you have used before and love, then get the affiliate link and add it on your TikTok bio.
For you to add a link to your TikTok account you'll need at least 1,000 followers to add a link to your bio or 10,000 followers to add a link to your TikTok stories.
The reason why it's the best method is that you can still get money even after years provided someone buys a product through your link. It's not the same as other methods because you only get a one-time payout and that's it. Some affiliate programs can be recurring and this is where you get a passive income simply by doing the one-time job.
4. Tiktok video gifts
On TikTok's platform, it allows viewers to purchase gifts from their creators. They can be purchased on regular video or during live streams. This method is not pleasing to creators because viewers when buying gifts they do not use a credit card instead TikTok has made its own application of virtual items. Due to this, for any gift bought, the creators get 50% and TikTok keeps the rest of the amount.
The virtual items can be a bit complicated but to make it simpler, You need to buy tokens or coins for you to buy gifts. The table below explains much the coins cost.
1.65 coins=0.99$
2.330 coins=4.99$
3.660 coins =9.99$
4.1321 coins =19.99$
5.3303 coins =49.99$
6.6607 coins =99.99$
After buying the coins you can use them to buy gifts in the TikTok app of your favorite creators. The gifts cost as shown below:
panda= 5 coins
Italian hand =5coins
Love bang=25 coins
suncream=50 coins
Rainbow puke=100 coins
Concert =500 coins
I am very rich=1000 coins
Drama queen=5000 coins
It confusing to the creator because TikTok doesn't pay in coins instead they pay creators in diamonds after their 50% cut. To remove the confusion, diamonds have a set of values while coins vary with the different geographical areas. After converting into payout, below is a chart that explains what you'll earn.
Gifts diamonds USD
Panda 2.5 0.013
Italian hand 2.5 0.013
Love bang 12.5 0.063
Suncream 25 0.125
Rainbow puke 50 0.25
Concert 250 1.25
I am very rich 500 2.50
Drama queen 2500 12.50
This is what you'll get and this method doesn't give enough but it's good for a cup of coffee. You will not earn much for a livelihood with this method anyways.
5. Selling Merch
This method is worth starting because it will make you more money than gifts, and tips and sometimes it can surpass affiliate marketing. With the right audience and good niche, you can make a living by selling merch on TikTok.
Selling merch comes with another advantage of brand marketing. Your brand gets to be known by many audiences and it might grow big with just the use of the platform. All you need is creativity, make something people want and not what you think people will want and you'll be good to go.
6. Tiktok creator fund
In the year 2021, TikTok announced to fund a whopping 200 million dollars in the USA to encourage creators to make more content and increase their creativity. This money was to be distributed all over the year as they hoped to increase the funds in the following years. They predicted sum up the amount to 1 billion dollars by 2023.
The creator fund is under creator next which houses all the monetization tools. For you to get the monetization opportunity, creators need to meet a few requirements:
-meet at least 1000 video views in the past 30 days
-meet at least 1000 followers
-post at least 3 videos in the past 30 days.
-must be 18+ years of age.
After getting approved you'll get access to some tools but you are still not eligible for creator funds. For you to get accepted by the creator's fund, you need to meet the following requirements.
-have at least 10,000 followers
-have at least 100,000 video views in the past 30 days.
It's obvious the eligibility process requires a big number of audience and you need to make money. Some TikTok creators have been sharing their earnings and from what we see it's not pleasing. A lot of them their Cpm is around 0.02 - 0.05 dollars.
So if you are a big influencer and let's say one of your videos gets 1 million views using CPM of $0.3, you'll make 0.03*(1,000,000/1000)=30$. If you have a small influence and get a video with 10,000 views you make 0.03*(10,000/1000)=0.3$.
Even the big influencer cant make 1000$ with this method and if you want to make money, this method won't work. Again it takes a lot of work and you need quality content.
7. Tips
After getting approved by the creator next, you'll get the chance to use the tips option where your viewers can send you some money. It can be 5, 15, or 50$, It depends on the amount they want to give you but it has a limit of 100$. People pay you through credit cards and they pay directly to your account, real money.
This method is nice because no money is taken by any other person or third party. It's you and your viewers. So if you have decent and loyal followers you can make good money, but remember people tend to pay if they are getting something in return so make sure you give quality value.
8. Selling products physically
Tiktok is a great platform for selling physical products because you get to show your audience the products and develop a connection with them. It's a bit easier to convince your audience with products they can see than selling a digital product where you do the selling with talking.
The only challenge gets with delivering the physical products especially if you are running the whole operation. It's more expensive and hectic than delivering a digital product. Other than that, it's worth a try.
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