Does Being ‘TikTok famous’ Actually Make you Money?
TikTok has gone from a niche video-sharing app into a mainstream social media app in the past couple of years. As a result, a new group of influencers is starting to build brands and get noticed by other brands and users. However, does being ‘TikTok famous’ actually make you money? And if so, how can you join the group of influencers that are out there?
What Is TikTok?
TikTok is one of the fastest-growing social media platforms currently. It’s very popular with the younger generation, who prefer the style of content that’s often published on the platform.
The network started as a niche video sharing concept where most people record themselves singing and then sharing this online. These videos were, on average, about a minute long. This short form of video has stayed with the platform, but now the niche has expanded, and everything from beauty tips to DIY secrets is being shared on the platform. It’s rare, but some videos can now last for three minutes.
The short form of the videos has led to growth. According to the latest statistics, about 73 million users worldwide have a market penetration of about 22%. Studies have concluded that TikTok is still in a growing phase and that this audience is likely to continue growing in the coming years.
Like other video-sharing social networking sites, TikTok is now gaining traction as a place where influencers can start earning money.
How Does TikTok Make Money?
TikTok is a free video-sharing site. The users who upload content do so without being charged. They’re not charged either for the monthly views or downloads of their content. So, how does TikTok make money?
This is all done through adverts that can be displayed on the network. These can be displayed either before or after a video. TikTok then charges for the viewing of the video. Due to the short nature of the user videos, adverts are proving to be very lucrative for the platform.
There are three types of ads available on TikTok; these include the in-feed ads, brand takeovers, and branded hashtag challenges.
But ads are a relatively new way that revenue has been created. TikTok has been earning a lot of money from the sale of TikTok coins. This is a type of cryptocurrency that users of the platform can buy with real money (assuming they’re over 18); they can then use TikTok Coins to buy virtual gifts for their favorite creators on the platform.
This was one of the first ways that creators could also earn money on the platform as they could exchange gifts for actual money. TikTok was, of course, taking a cut of the money.
What Is The Role Of Influencers On TikTok?
Influencers on TikTok are of great importance. Influencers often publish content to the highest standard and offer this for free to TikTok. This is TikTok’s ‘product’ in a way. Without the content from influencers, then TikTok doesn’t have a pull to bring in lots of viewers to the platform to buy TikTok coins or see ads.
In addition, influencers have a second role. They’re there to make changes to the lives of the audience. This could be something as simple as changing the way someone completes a task (DIY/Beauty Hacks) or being persuaded to buy a product.
These are really important functions, which has led to some influencers starting to make money on the platform.
How Do Influencers Earn Money On TikTok?
Influencers are earning money in a few ways on TikTok. The first is that they’re getting TikTok coins that they can then exchange for real money. The second is that they’re able to get their content sponsored by brands in exchange for shoutouts.
Brands that like to participate in this kind of campaign include Squarespace, Audible and Curiosity Stream, and others. The amount of money that influencers can earn from these sponsored pieces of content is dependent on the number of followers an influencer has.
Influencers can also use affiliate marketing in shout-outs. This works by the influencer mentioning a brand and coupon code that they can use on their website for a discount. Or they provide a unique URL for the audience to use to visit the brand. When someone uses that coupon code or visits via that unique URL buys a product/service, the influencer earns a commission. This can be a very lucrative way to earn more money on TikTok.
Another option for earning money on TikTok is to sell merchandise. This might sound expensive, but most influencers will use print-on-demand services. This means they’re only charged when a customer makes an order. Finally, TikTok users can use systems like Patreon or Buy Me A Coffee to get viewers to sponsor their content.
One way that Tik Tok influencers can potentially earn money is by using TikTok to sell exclusive, one-of-kind items to their fans. Patreon has been successful in providing exclusive content to its fans, like behind-the-scenes content, uncensored content, documentaries, fan signs, and more. Interestingly, Influencers can use NFTs to sell similar content to their fans. Case in point: NBA Topshot has raked in millions of dollars by selling videos of their favorite basketball players. Tiktok influencers can very much do the same.
How To Get TikTok Famous
Becoming an influencer on TikTok isn’t easy. It requires a lot of dedication and hard work, and for the majority of the time, in the beginning, it will seem like you’re wasting your time. It will take several months for you to build a following and reputation that will allow you to earn revenue from the platform. However, the eventual rewards can be very worthwhile.
The first thing you need to do is to find a niche that you’re comfortable with. You need to be consistent. You can’t post about the best shoes one day and then change to how to cook the perfect pancakes the next. Audiences expect you to have a similar style and topic for each video.
Also, you will need to be concise. Videos are very rarely longer than 90 seconds. So be sure that you’re keeping to that. But at the same time, your video production needs to be high. Some influencers are publishing more than three videos a day on the platform.
You also need to be more flexible. With YouTube, you can record a video and then release it two weeks later. However, with TikTok, users expect you to be more relevant. You should be engaging with real-world events that are happening at that moment.
Finally, be sure that you understand your audience. You might know what content they’re liking, but do you know what time they’re watching TikTok videos? Find out what the peaks in viewing figures are for your content on the platform. If you publish one or two videos just before this point, you can get more attention.
Conclusion
TikTok is going to be one of the biggest social media networks out there within a couple of years. The platform is already seeing a steady growth in users, revenues, and influencers on the network. As an early adopter, you can place yourself in the perfect position to earn on TikTok if you have the skills and ambition to be TikTok famous.
Just remember that when you start to get noticed to be sure that the brands you’re working with represent your values. A mismatch can upset both parties and prevent other brands from working with you.
However, there is nothing stopping you from becoming TikTok famous. Is that something that you would like? If so, then follow some of the advice that has been written in this article, and you could achieve your dreams.
