How To Make Money On TikTok: 8 Simple Methods

Learning how to make money on TikTok might seem like a chore, but anyone can do it — provided you have an account and understand how the platform works. But just how easy is it to get started?

You can make money on TikTok by signing up for the TikTok Creator Fund, selling to your audience, partnering with brands and influencers or monetizing your lives. Other options include collecting tips from your fans and offering paid content to subscribers.

In this article, you’ll learn how to make money on TikTok today — whether you live in Nigeria or any country where the service is available. But first, we’ll explore just what TikTok is and how it works.

What is TikTok?

TikTok started as a simple yet exciting short-form video hosting platform when it launched in 2016. Today, it’s one of the world’s biggest social media platforms — serving seasoned creators and young people seeking creative outlets.

But what exactly is TikTok?

In a nutshell, TikTok is an app that allows users to watch, record and share videos and photos on their smartphones and computers.

And while this might sound like every other social media platform in existence, TikTok stands out since it allows creators to share short-form videos. These videos max out at 10 minutes, but most content you’ll find on the platform are usually much shorter.

Still, it’s the short-form nature of TikTok content that makes the platform so popular today, especially among Gen Z.

However, the platform is also popular because of the ease of use it grants creators — allowing anyone to profit if they put in the work.

How to make money on TikTok in Nigeria

This section explores just how to make money on TikTok in Nigeria, highlighting eight simple methods you can try if you’re on the platform.

1. Sell directly to your audience

If there’s one thing that makes TikTok stand out from other platforms, it’s its high engagement metrics. It’s common to see accounts on TikTok racking up millions of views and thousands of comments from a single post. Those numbers can be advantageous if you decide to sell directly to your audience.

Selling directly to your audience is a form of social media influencer marketing, and it’s pretty easy to do. You only need two things: an item or service worth selling and an interested audience.

You can start selling on TikTok by creating a few posts describing your offer and providing a link for prospective clients to reach you.

For example, you could make a few videos featuring a model, which could be you, wearing certain clothes if you’re in the thrift business. These videos can be fun — depending on your audience and vibe — and you could include a link to your PocketApp profile for buyers to shop directly from you.

2. Partner with brands

Partnering with brands is one way to go — just ask creators like Israel and Soso. And you don’t have to be a viral sensation to make money on TikTok by working with brands, although the clout does help.

Many brands will work with you if you have a significant following and great content on TikTok. In fact, social media influencer marketing can be an excellent source of income if you have the talent, a large enough audience and are willing to put in the work.

There’s also affiliate marketing — a gold mine if you’re an excellent salesman.

But what if you have a small TikTok account?

While partnering with brands as a small account might be difficult, it’s not impossible. Some brands incorporate small accounts (micro-influencers) in their social media campaigns, and you can make money from these gigs just like bigger influencers.

However, you might need to contact these brands (or bigger TikTok accounts) to get the ball rolling.

Still, having great content on your account does help your chances of making money from brand partnerships — whether you have 100 or 100,000 followers.

3. Partner with other social media influencers

Working with other social media influencers might seem strange. However, it’s another popular way to make money on TikTok — especially if you have a small account.

So, how does it work?

Popular social media influencers are usually part of extensive marketing campaigns with brands. And besides directly telling you about a product or service, some brands pay these influencers to push a hashtag, keyword, sound or filter to make it a trend.

Still, making anything trend on social media is no easy feat — even if it’s TikTok. Therefore, influencers will recruit smaller accounts (or even bigger TikTok accounts, depending on the scale of the campaign) to help.

And just like partnering with brands, partnering with other social media influencers can be profitable if you play your cards right.

4. Collect tips from your followers

Another way to make money from TikTok is to just ask for it. Honestly! Tipping is a great way to make money as a TikTok creator and an excellent avenue for fans to show appreciation for your work on the platform.

You can ask your audience to send you money for all the high-quality content you keep pushing out. Fortunately, collecting money directly from fans is easy if you set up a suitable payment platform.

Here are a few platforms you can use to receive tips from your TikTok followers:

• The TikTok direct tipping feature
• PocketApp
• A bank account
• GoFundMe
• Buy Me a Coffee

But while TikTok’s direct tipping feature is the most convenient option, it’s only available in the United States.

Therefore, the other options in the list above are perfect if you’re in Nigeria. Of course, you’ll need to include the suitable payment link(s) in your bio or post to get started.

5. Offer paid content and subscriptions

Offering paid content and subscriptions is fast becoming the fad on social media. After all, these platforms are transforming into marketplaces for creators and users.

This method is perfect if you’re an avid creator with a faithful following, and it can help you place a premium on your account without losing a chunk of your fanbase.

The best way to get started is to announce exclusive content for interested fans, create this content and keep it behind a paywall — preferably using a subscription platform like Patreon.

Still, just setting up a Patreon account won’t cut it. You’ll need to market the perks of exclusive content and use pricing strategies like keeping monthly subscription costs low.

This way, more fans see your work and are enticed to pay you for exclusive content.

6. Sell your TikTok account

Of course, you can also make money on TikTok by selling your TikTok account. And while this method might seem counterintuitive, it’s pretty profitable.

Users have been selling social media accounts for years, and it’s a quick and easy way to make money if you’re up for it.

Unfortunately, this method means you have to give up your TikTok account. However, it can be a cash cow if you’re adept at building a large audience on the platform.

So, you can keep building and selling accounts to brands and individuals for as long as you like.

7. Sign up for the TikTok Creator Fund

Whether you’re a TikTok celebrity or a niche account, the TikTok Creator Fund is one of the easiest ways to earn money on the platform.

Unfortunately, while the Creator Fund is open to all TikTok accounts — only creators in the United States, the United Kingdom, Germany, Italy, France and Spain can partner with TikTok now. Therefore, the other options in this article might be better if you’re in Nigeria. Well, until TikTok expands the Fund to other regions.

But what exactly is the Creator Fund and how does it work?

The TikTok Creator Fund is an initiative by TikTok that allows creators to monetise views and post engagement on the platform. In other words, you get paid by TikTok for making posts that resonate with the TikTok community.

It’s similar to the YouTube Partner Program (YPP) and works almost the same way. And just like the YPP, there are a couple of prerequisites to joining the Creator Fund.

These include customary terms like a minimum age of 18 and original videos in line with Community Guidelines. However, TikTok also stipulates that you need an account with at least 10,000 authentic followers to sign up.

Still, the sign-up process is straightforward if you satisfy all the terms.

You can sign up for the TikTok Creator Fund by following these steps:

1. Open your TikTok app.
2. Click on the “Profile” button.
3. Select “Creator Tools” from the hamburger menu.
4. Tap “TikTok Creator Fund” and follow the prompts.

You can learn more about how the Creator Fund works by checking out this article on the TikTok website.

8. Monetise TikTok live streams by collecting virtual gifts

TikTok live streams generally get a bad rap, but they can be an excellent way to make money on the platform. In fact, TikTok has a special reward program for creators that use the feature.

This initiative — called Live Gifting — is similar to the TikTok Creator Fund and allows users to profit directly from the platform.

But unlike the Creator Fund, creators get rewards from Live Gifting by receiving and redeeming gifts from their audience instead of TikTok. These gifts include Diamonds and coins — both of which you can redeem for cash.

TikTok Live Gifting is available to all users in every location where the platform is functional (including Nigeria). Still, it does come with a few terms and conditions.

Conclusion

Although we all agree that Tiktok can be addictive, the platform does offer users an excellent opportunity to make money online on the way to financial stability. But your success will depend on the amount of work, thought and time you put in.

Credit: Ifeoluwa Adekoya, piggyvest.com