Over the past few years, intelligent and outgoing teenagers have been learning how to monetize TikTok without much training in marketing or social media. From TikTok select individuals who have built up their following and established a brand are able to become celebrities in their own right. On the other side of the coin, brands who were hurting for sales and in dire need of exposure to new target markets and engagement have been benefiting from TikTok as well.
Have you been wondering if it is possible to make money on TikTok like all of the influencers who are now branching out into music and even acting? The answer is yes! Through TikTok advertising and TikTok brand partnerships it’s possible to make money and serve as an advertising cheat code for the companies that you choose to work with. While you may find it hard to believe that any marketing director would want to pay a teenager $20,000 for a post, if that $20,000 in ad cost translates to a few hundred thousand dollars in sales, it will have all been worth it.
Can you make money on TikTok?
As a top influencer it is possible to make a great living on TikTok. In some cases, users with millions of followers are receiving paychecks for a single post from brands and sponsors that are more than some doctors or lawyers would bring in per month. A good example is the TikTok personality, Josh Richards (username:@joshrichards). With nearly 25 Million followers Josh would have an estimated earnings per post of over $20,000 provided that he is working with sponsorships and brands to monetize his dancing or other entertaining antics.
But don’t be scared away by the daunting task of accruing tens of millions of followers! Even TikTok influencers who play their cards right and have some experience in marketing are able to make several thousand dollars per post with just a million followers. With one million followers, according to the Influencer Marketing Hub’s TikTok Money Calculator your estimated income would be somewhere between $700 and $1,100 decreasing to $250 or less per post if you have a quarter of a million followers.
Opportunities & TikTok Money
In addition to branding deals, there is also an opportunity for TikTok influencers to receive coins which are then translated to diamonds and exchanged for real cash! While it is true that TikTok keeps 50% of the revenue earned by users through diamonds and coins to upkeep the app, some influencers are able to cash out up to $1,000 in diamonds per day. Once you start receiving diamonds from followers who want to cheer you on, you can exchange them once you’ve reached $100.
TikTok is just another opportunity for aspiring influencers and social media personalities to expand their following or build a new following from the ground up. Once you have a group of other TikTok users that are interested in and engaged with your posts, the sky’s the limit! With a following of a few hundred thousand users, you’ll be able to identify brands who may be willing to work with you based on your niche market. Connecting with a TikTok ads agency that do influencer or affiliate marketing can further your earning potential.