How To Make Money on TikTok In 2020

Has Garyvee ever influenced you? Lately, he has been talking a lot about tik tok and that the clock is ticking on it. This will likely have stimulated your interest in tik tok whether you’re an entrepreneur or marketer, the simple reason being that tik tok has a lot of people interested in it but not a lot of content.

As a result, content creators are seeing crazy views and going viral since there is little competition. Also if you’re observant you’ll know something similar happened to Instagram a few years back. People got interested and thought the way to make money from it was by gaining followers but we’ve seen that Instagram is a marketing tool for business where you don’t actually need a lot of followers to make money on it.

From this experience on Instagram, more people are looking to figure out how to make money from tik tok without wasting any time. They want to get in early so they can start capitalizing on the interest and monetizing it.

So if you’re one of those interested in jumping into a platform and monetizing it, you have come to the right place. Some users currently refer to tik tok as “social commerce” due to what they earn from tik tok. This article contains fast, proficient, efficient and viable ways of earning on tik tok. Based on research that I’ve done, we will discuss 6 of these ways that people are actually using to make money on tik tok today.

Nurturing an Account then Selling it

This is very popular in the E-commerce and products space and is quite similar to Instagram. You can start nurturing your own account by choosing a niche (popular and fast-growing niches on tik tok include dance, humor, cooking and lip syncing videos), then you have to create entertaining content, ideal content that can go viral in order to attract that person who would be the ideal customer for your product.

Remember it is only when you’ve gone viral that you will be able to attract and keep your viewers to you. So many people today are making money from nurturing tik tok profiles around a specific interest (usually a niche topic) and when they’ve acquired followers they sell their profiles to brands in that industry. When you’ve gathered followers you can reach out to brands in the industry that your niche promotes and sell you tik tok profile.

So if you are the type of person that loves tik tok and just want to grow following around a certain topic, go for it, build the community around your topic and reach out to brands that would love to have those followers and sell them your account.

Collecting Donations From Viewers While Live

This is also very fascinating, it’s an already built-in monetization platform. This basically is how it works; as a tik tok user you can go into your profile and purchase coins (100 coins sell for $1.39), these coins can then be sent to creators when they’re live just as a way of showing thanks for all the awesome contents. The creator then turns this donated coins into diamonds. The diamonds in turn can be converted to cash via PayPal.

So if you manage to build up a profile yourself and have a lot of followers who decide to send you donations (coins) which you can turn into diamonds, you can then convert these to cash via PayPal and continue earning money on tik tok.

Managing Campaigns for Influencers

This basically is already on Instagram where there are influencer agencies to serve Instagram influencers and the same concept applies to tik tok. All you have to do is be the middleman between a content creator on tik tok and a brand who wants to work with that influencer. As a middleman you’ll be the one creating the agreements, managing both the content creator and the brand, ensuring the goals of both parties are met and ascertaining proper coordination.

And for rendering just these little services, you could charge a service fee to manage campaigns like that. Brands actually prefer reaching out to external parties rather than the internal built-in influencer programs because they are more expensive and take a certain percentage. This is why you will be more readily contacted than the built-in influencer campaign program.

Utilizing the Ads Platform

This is very easy and similar to both Facebook and Instagram ads. You can go search up tik tok ads and sign up for access to their ads platform. It basically works like every other paid traffic. It is especially useful to create ads when your market is on tik tok. Try setting aside a budget for ads, when the traffic starts coming you’ll be earning a lot more than you imagined and will even be able to sell more of your product with tik tok.

Offering Management Services

This basically involves you rendering managerial services to creators whose followership has grown into millions and this could possibly have happened so fast that the creator may not be able to manage it. You can then step in and offer services to help them with their content strategy, their creative strategy as well as managing offers and deals for the creators. Using practical skills like storytelling or professional backgrounds like production can prove to be invaluable when it comes to offering management services to creators.

Offering Consulting Services

This is actually one of the most lucrative ways to make money on tik tok. First, though, you need to have the background and experience in order to offer consultation services, you need to be a pro. You should be able to understand how you can take the video of someone who has maybe a hundred views and make it have a hundred thousand views. This is the best way to use your expertise on the platform to help people who want to be tik tok famous or want to be creators. You’d have to boost their strategy so that their videos can get hundreds of thousands of views or even millions.

The good news though is that once you’ve got the background and experience, people will pay you handsomely to have your brain and experience on their account. Also if you are able to make them sign any deals or agreements, you can negotiate to collect a percentage of that deal simply because you are their consultant and you have helped them go viral.

Even though it’s still early, people are readily making money from tik tok using these 6 ways. You can be certain also that tik tok will continue to grow because tik tok videos can go viral even months after publishing it since they don’t disappear like Facebook or Instagram stories after 24 hours. It can drive a lot of traffic and you could even have less than a hundred followers but have millions of views because there’s a lot of interest and not a lot of content so the algorithm will keep pushing your video to people who have that interest.

This unique feature is peculiar to tik tok alone. So why not try making money early on in tik tok? The traffic rates are mind-blowing. Choosing one or more of these 6 ways of making money on tik tok will definitely turn your financial dreams into glorious reality.

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