How to Make Money on TikTok

According to research, an average person spends two hours or 144 minutes a day on social media. This time has significantly increased during the lockdown imposed due to the coronavirus pandemic. Thus, while many businesses suffered losses, social media remained lucrative even during such isolated times.

But how do influencers make money from social media sites? Well, there are more money-making opportunities offered by such sites than you can imagine. Read below to learn how to make money on TikTok, YouTube, and other sites!

August 08, 2021 by David Ewing


How to Make Money on Social Media Sites? Everything You Need to Know! 

According to research, an average person spends two hours or 144 minutes a day on social media. This time has significantly increased during the lockdown imposed due to the coronavirus pandemic. Thus, while many businesses suffered losses, social media remained lucrative even during such isolated times.

But how do influencers make money from social media sites? Well, there are more money-making opportunities offered by such sites than you can imagine. Read below to learn how to make money on TikTok, YouTube, and other sites!

How to Make Money on Social Media Sites?

Suppose you're a social media addict who spends most of the day scrolling through Instagram, exploring various YouTube and TikTok videos. In that case, you'd be well aware that self-made influencers have taken over these sites by a storm!

How about you also use your scrolling dedication for making money? Since social media sites such as YouTube are pretty lucrative platforms, it isn't challenging to figure out how to get paid on YouTube or TikTok.

So if you're looking to make money, here is everything you should know!

Finding Your Niche

With millions of social media users trying to build their hustle game, you're going to have to find something intriguing. Besides that, it is essential to focus on originality and uniqueness. 

It means that you have to find your specific niche to work your way around it. For this, think thoroughly about your passion and knowledge. Then, dedicate some time to the subject.

Once you get an idea about your content, you can create outlines of what you want to put out there on the sites. For example, if you want to know how to make money on TikTok, you'll need to find the kind of videos you want to create.

The next step is to know your target audience. For example, if you're interested in traveling and exploring, you could make travel videos and guides.

However, it is critical to know that a general video will not take you to your target audience. You'll need something to set it apart, such as your narrations or personal experiences, that you can add to the guide. 

Moreover, you could also explore thousands of social media genres and subgenres and find what works best for you. 

How to Make Money on YouTube?

Youtube offers several options and features to help you make money. Each feature sets its eligibility criteria along with subscribers or view count requirements.

In addition to this, YouTube also offers additional features that are available once you become a good creator. So, you can say it is YouTube's way of rewarding some of the best content creators.

However, the main question is, how do you begin setting up an account that attracts an audience or helps you make money?

The first thing you need to do is, set up your YouTube channel. Each account has a YouTube channel; you simply need to add your content to it.

The next step is to upload your high-quality content. This is very crucial. You need to be consistent; that’s the key to gaining and retaining an audience. Try to upload something daily, even if your content isn't good at first. 

Practice makes perfect: To improve your videos, you can try using better cameras, angles, filters, etc. These tricks will enhance the quality of your video, which in turn will help you gain an audience. 

Gaining an audience is the primary key to increasing your monetization. It is because when you monetize your videos, YouTube places ads as they are played. The more the number of views, the more people watch these ads and contribute to your profit from the ad revenue. 

Once you enable monetization, you'll get advertising revenue from display, videos ads, and overlay. When you start to target an audience with improved content, you can also offer special perks to your viewers for a set monthly payment. It is called channel membership. 

With more features like stickers, premium subscriptions, and YouTube policies, you can monetize your channel even further to make more money out of it. 

How to Make Money on TikTok?

Tiktok went from being a children's app to pleasing viewers of all ages across the world. There are about 700 million monthly TikTok users, making it the biggest social media platform. 

Recently, TikTok received one billion dollars as its creator fund. It means that this app offers better money-making opportunities. The good news is that you don't need to be an expert marketer to know how to make money on TikTok. 

Video-making platforms offer many features to make money. All you need to do is gain an audience, get your audience to donate coins, and get in touch with the sponsors. Besides this, you can also promote your brand to make money.

Steps to Make Money on Tiktok

The first step to earning money from TikTok is to get paid through TikTok's creator fund. The creator fund supports the innovative creators to make user-generated content. This creator fund grows depending on the views from real accounts.

But there are some requirements for you to join the program that offers a creator fund.

  • You should be above the age of eighteen

  • Have at least 100k video views in the last thirty days

  • Have a minimum following of 10k

  • You should be based in the US, the UK, Germany, France, Italy, and Spain

  • You need a Pro account to apply for the Creators Fund program

Once you get the creators fund, the next step is to utilize this money to earn more from this app. Another excellent way for making money is by taking donations from your viewers. 

When you start a live stream, your followers or viewers can donate cash to appreciate the stream. As a content creator, you can turn on the live gifting option. Then you'll receive in-app coins that viewers will send your way.

You are also rewarded with 'diamonds,' which is virtual credit. You can cash out the rewards/diamonds through PayPal to earn real currency.

Besides this, you can partner with various brands and sponsors to advertise their products on TikTok. Most brands will contact you through agents to set up a contract. You'll get paid for promoting these brands during your live streams or posts. 

Moreover, you can also earn money by directly selling your products on TikTok. It will help you generate revenue. Once you bring your product to TikTok to introduce it to your audience, you'll be able to set up an online market. 

This way, you can control the profit margin on your products and make money from TikTok.

Conclusion

Once you follow these tips and tricks, you'd be able to set up a good audience for your TikTok account or YouTube channel. When you successfully earn money from these sites, you'd be able to monetize other social media accounts to set up an online business! 

We hope that this guide helped you gain perspective on how to make money on YouTube and TikTok.

Author

David Ewing

GamePoint, Founder & CEO