As of September 2020, it is estimated that over 850 million people visit TikTok monthly, and that number just keeps growing.
In this day and age, there are plenty of ways for influencers to make money through different social media platforms. TikTok is filled with many teens and funny videos but it is an awesome way for influencers to make money.
Monetization options on TikTok started out slow but now they are growing rapidly and it doesn’t look like it will end anytime soon. There are many different options for influencers when it comes to making money on TikTok.
Keep reading for our guide on how to make money on TikTok.
Brand Sponsorships on TikTok
One of the easiest ways to make money on TikTok is by doing brand sponsorships. Many of the larger brands have yet to branch out to advertising through influencers on TikToks but a lot of small businesses are taking advantage of it.
Many brands also had experience with working with influencers on another short video broadcasting platform, vine, which was shut down in January 2017. Many influencers made 6-second videos to promote products for businesses and made money off the brand deals. This is exactly how brand sponsorship work on TikTok and some brands are already familiar with the process.
How Do You Get Brand Sponsorships?
If you’re already an influencer who has done brand sponsorships through YouTube or Instagram, then it will be pretty easy to get more sponsorships through TikTok. Make sure to advertise your TikTok page on your other social media platforms, as well as letting brands know directly that you already have a good following on TikTok. Advertising yourself as a TikTok user is a great way for brands to see the versatility you possess and can help you get more opportunities in the future.
On the other hand, if you’re just starting out on TikTok, then it may be a bit more difficult for you to get brands to sponsor you. Make sure that you’re more active on influencer marketing platforms to let people know that you’re a TikTok user and ready to promote unique brands.
You need to be able to market yourself to different brands in hopes of getting a sponsorship. Getting your first sponsorship is going to be stepping off on the right foot. Once brands see that other brands had success working with you, then you should be able to get more opportunities for yourself.
Sell Your Goods On TikTok
Small business owners should also use TikTok to advertise their own products. This is a great way to use a social media platform for marketing and make more sales of your own products. This is an awesome way for influencers to take control of their income, promote themselves, and make more money.
You can use TikTok as an advertising platform to sell pretty much anything. Many of the users sell their t-shirts, jewelry, or even stationary and have found great success in doing so.
Live Streams on TikTok
If you don’t want to sell or promote products, then there are other ways you can make money right through the app. TikTok has a built-in monetization system where you can live stream through Live.ly and make money through tips.
This works much like live streaming on Twitch or through YouTube. Viewers of your live stream can donate money to you and your account if they enjoy your content. They can also buy emojis to exclusively use in your live stream. You will receive a portion of the tips from viewers and another portion goes straight to TikTok.
To find success in making money through live streams on TikTok you will need to build up an audience. You want a dedicated audience that is willing to watch your live streams and that want to donate their money to you. TikTokers with a dedicated audience will find making money though live streams to be very easy and efficient. 
When you’re just starting out make sure that you interact with your followers and try to give them content that they enjoy watching. Launching and following through with a giveaway is an awesome way for you to get more people to follow your TikTok. Try to branch out to other social media platforms as well so you will be able to promote your TikTok live streams.
Promote On Other Platforms
As we mentioned previously you will need a dedicated audience to help you make money on TikTok or any platform. If you already have another social media platform such as Youtube, Twitter, or Instagram, with a large following, then make sure you advertise and ask them to also follow your TikTok account.
If you’re just starting out on TikTok don’t get frustrated! Everyone needs to start from somewhere and most people start at the bottom. There are plenty of ways to get more fans on TikTok as well as other social media but it does take some hard work and dedication.
There are also tons of ways you can grow your audience through all of your social media accounts. Make sure to ask your followers to follow your other accounts and try to give them an incentive to do so. Another great tip is to make good content! If you make good content that people want to share, then you will be getting free promotion and more people will see your videos.
We also suggest starting a blog. Starting a blog positions you in to remain there for your fans in the event tiktok is ever replaced with something new.
Recently, WordPress created a tiktok plugin that allows you to embed your tiktok vidoes directly on to your website. No more losing customers, no more losing fans!
Click here to learn how to start a blog for free.
How to Make Money on TikTok
There are plenty of ways to make money on the internet especially as an influencer. If you already have a dedicated audience through social media, then expanding to TikTok is a great option for many influencers.
On the other hand, if you’re just starting out and trying to figure out how to make money on TikTok, then stick with it and don’t give up. Make sure to participate in influencer marketing platforms to get your name and face out there.
Being an entrepreneur is a great way to make money if you have the determination and drive. Make sure to check out our free entrepreneur online course so you can learn all the tips and tricks to becoming an online entrepreneur.
