How to make money on TikTok

TikTok

TikTok stands out as an app cherished and utilized by millions worldwide. Originating as Musical.ly, it swiftly amassed over 100 million users within a year of rebranding.

This Chinese creation has evolved into one of the globe's premier platforms for bite-sized videos, seamlessly connecting creators with diverse audiences via its sophisticated recommendation systems.

Its impact has been profound and captivating, marking a shift from the era of Instagram admiration for lavish posts to a new fascination with engaging TikTokers and their content.

The best part is, users can also earn money on the platform. Here's how;

Gifting

There are many opportunities to monetize TikTok, whether you are a content creator or a business owner looking to expand your market. TikTok has a feature where a user can go live and make money as long as one has captivating content. When your content is loved by the viewers, they tend to send to you virtual gifts that can be converted to money.

TikTok LIVE Gifts is a handy feature on TikTok that allows viewers to react to your videos, showing appreciation for your efforts. It is one of the more popular ways for emerging TikTokers to make money on the platform and contributes to the bulky incomes that popular TikTokers can now gain from their content.

The worth of some virtual gifts in coins include:

Rose: 1 coin, Panda: 5 coins, Italian Hand: 5 coins, Love Bang: 25 coins, Sun Cream: 50 coins, Rainbow Puke: 100 coins, Concert: 500 coins, I'm Very Rich: 1,000 coins, Drama Queen: 5,000 coins, Seal and Whale:34,500 coins, Lions:29,999 coins, TikTok Universe:44,999 coins, Leon and Lions:34,000 coins, Interstellar:10,000 coins, Sam the whale:30,000 coins, Rose Nebula: 15,000 coins, Sunset Speedway: 10,000 coins, Rose Carriage:25,000 coins, Tik Tok Shuttle:20,000 coins, Adam's Dream: 25,999 coins and Dragon flame:26,999 coins.

TikTok's Diamonds (TikTok's digital currency) are worth 50% of the value of coins, e.g., if a follower gifts you Sam the Whale which is worth 30,000 coins, it is equivalent to 15,000 Diamonds. The exchange rate for TikTok diamonds to USD is currently 1 diamond = USD 0.005. This means that 15,000 diamonds are worth $75. This is equivalent to 9,750.00 Kenyan Shillings.

To start collecting Diamonds, you have to meet TikTok eligibility requirements, including being 18 years or older and having at least 1,000 followers with an account that is at least 30 days old. You keep 50% of whatever you earn, and TikTok takes the other 50% as a commission.

TikTok requires you to make a minimum amount of $100 for a withdrawal and not take more than $1,000 a day. To receive this money, you need a PayPal account to withdraw. Just like that, you earn some money. Examples of Kenyan Tiktokers who have made money include; Tizian Savage, Ian Mwiti and many others.

We spoke to Tizian Savage on this story and he said," The largest amount of money I have ever made from TikTok LIVE is Ksh 800,000."

Crowdfunding

Crowdfunding is a creative way of telling people about an awesome idea you have, selling preorders, and then using that money to develop your product and deliver it to the people who funded you. This is very possible through TikTok. Crowdfunding motivates a business-minded individual since all the support and trust they get from their viewers might just be the right fuel to kick start a successful business venture.

After the crowdfunding has helped you establish your business fully, you can use TikTok to market your business and potentially bring in new clients or customers. Whether you're a fashion designer or a photographer, posting short videos to promote your expertise and services can help to expand your reach. This boosts one's business and this means more money and customers for you.

Garnering bonuses and tips

TikTok has a Tips feature that allows creators like you to receive tips from viewers who want to show their support. It fosters a positive environment on TikTok, serves as a morale booster and helps in making money. To start collecting tips you must meet TikTok's eligibility requirements. You have to be over 18 years old and with at least 100,000 followers.

When you make good content on your TikTok page, viewers who like what you're doing can send you tips directly through your TikTok profile. Unlike the gifts, you get to keep 100% of the tip amount minus the Stripe processing fee. Your viewers can choose from tip amounts of $5, $10, $15, or a custom amount. There are imposed limits on the amount one can be tipped. The maximum tip per transaction is $100, the total tip per viewer per day is $500 and the maximum number of transactions per viewer per day is 100 only. As of now, a Dollar is equal to 129 Kenyan Shillings.

However, this feature is available only in the U.S., Great Britain, France, Germany, Italy, and Spain. It is still one of the creative ways to make money on TikTok.

Attending Brand-Sponsored Events

One of the easiest ways to earn from TikTok is by networking with other brands and creating good content by tagging them. By being an ambassador of a certain brand, you can make money from gaining a lot of views and followers on TikTok.

You can also start getting paid by the brand itself for promoting them on your TikTok page. Brands will often recommend and approach you to appear at events and this creates a good reputation for you on TikTok and businesswise.

In a nutshell, you can make money from the comfort of your house through creating and posting interesting and captivating content on TikTok. All you need is a TikTok account, a good following, a decent camera and good content.