TikTok has rapidly gained popularity as a social networking app, especially among the young generation. As of 2020, the app has more than 500 million active users and was the most downloaded social media app in January. The number of users keeps rising steadily each day.
Just like in other social media platforms, Influencers are now making brand endorsements and earning good money from TikTok.
How Much Do Influencers Earn?
Generally, influencers earn between 200$ - 20,000$ per post depending on several factors such as product niche, audience country and brand affinity and engagement rate of the post.
Unfortunately, TikTok does not offer native ads options like its competitors. Settling on the advertising rate to pay influencers is, therefore, tricky for brands. It is usually a matter of negotiation with the influencer. Previously, a large following was deemed to translate to higher pay for influencers. However, the focus is now changing.
Brands have come to understand that a large following on social media can be bought. It is, therefore, not a decisive factor in deciding how much to pay influencers. Brands have now established that post social engagement is vital for a successful marketing campaign. These interactions between influencers and followers reveal the number of people interested in the brand or product.
Influencer Engagement and Earnings Calculator
As an influencer, knowing this social engagement rate gives you a clue of your account's value on the market. We understand this concern. Our Influencer Engagement and Earnings calculator will sort you out. It helps you understand your potential value as an influencer by approximating your TikTok's account social engagement rate.
The tiktok money calculator igface uses three factors to determine engagement rate; the number of likes, number of comments, and the number of followers. To decide on your social engagement rate, use the following formula;
(number of likes + number of comments/number of followers) × 100
The higher your engagement rate, the higher the chances of brands considering you for marketing deals.
Influencers must understand that this calculator is only for educational purposes and is in no way a tool by Tik Tok. It is just an opinion based on the popular view.
How to Make Money on TikTok in 2020
How Do Influencers Make Money?
As a TikTok influencer, you can earn money in the following ways;
• Marketing brands through posting of short videos- These videos usually range between 30 – 45 seconds. It is the most popular method for influencers, especially newbies. Through cross-promotion- This is where you market brands across social media platforms. For instance, you can use your TikTok following for advertising a brand based on Youtube and vice versa.
• You can work with brands in full sponsored video ads. This is a method preferred by big brands and pays typically well.
• You can also promote your products or services in your videos. This way, your large following becomes a potential customer base.
Building your social following is important as an influencer. But knowing your market value is gold. The simple social engagement rate formula clears up the air and gives you a heads-up on the elements to improve on to land marketing deals.