According to Business Insider, a sponsored post on TikTok can make an average of $0.01 to $0.02 per view. Loren Gray, a famous TikTok user, earned $2.6 million in 2019 for creating sponsored posts. Companies are paying TikTok influencers between $200 and $20,000 per branded video promoted.
If you have thousands of TikTok followers, you should consider monetizing your account. You might want to know how to monetize your TikTok account. The following tips will help.
1. Influencer Marketing
In influencer marketing, you use your TikTok videos to promote brands/products/services. You endorse products in your videos with the hope of generating sales.
The highest TikTok earners engage in influencer marketing and some of them earn six figures. To succeed in influencer marketing, you need to have an engaged user base. You can only influence people to make purchasing decisions if you can engage them.
The TikTok influencer calculator will help you to estimate your possible influencer earnings based on your number of followers and engagement.
2. Publishing Sponsored Posts
You can earn money by publishing promotional videos of brands in your account. With an average earning of $0.01 to $0.02 per sponsored view, a video of 100,000 views will earn $1000 in sponsorships.
If you have a following on TikTok, you should consider reaching out to brands and informing them how you can market their products using sponsored posts.
3. Selling Your Products
This is the easiest way to monetize your TikTok account if you don't have a huge following. You can use TikTok to promote products that you are already selling elsewhere.
TikTok offers you a free platform to sell your products or services. If for example, you own a river rafting service, you can take 15-second clips of raft trips and post them on TikTok.
4. Grow and Sell TikTok Accounts
This strategy is already popular on Instagram. Therefore, it can be replicated on TikTok. You can flip TikTok accounts just like how people flip websites.
To succeed with this, you need to find a niche and create interesting content. After growing the account to a particular level, you can reach out to brands and sell your TikTok account to them.
5. Becoming a TikTok Consultant
If you know all the tricks and tactics of TikTok, many people can benefit from your skills. Some people will be willing to pay you money to help them create their TikTok strategy, build their brand, and increase their followers.
With TikTok, you can become famous while making money. To succeed in monetizing your account, you need to keep your audience engaged by always creating interesting videos. You should take the time to understand your audience.
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