TikTok went viral during the COVID19 pandemic. A lot of youths joined it to get a share of the fun. Older people joined it too. The application is addictive. The random feeds of funny, educative, and may be stimulating videos keep one glued on their phone for hours.
If you are one of those people that are addicted to Tiktok and want to take advantage of your Tiktok addiction, or you just want to know what money-making opportunities are on the app, stick with me.
How much can you make on TikTok if you post videos or even just one video and you attract 1 million views? I have got your back. Let’s do the math.
For every 1000 views, TikTok pays you $0.02 to $0.04 0r 2 to 4 cents. There are one thousand, one thousands in one million. Headache! Multiply 1000 views by the maximum payment for every 1000 views. That means TikTok will pay you up to $40 if 1 million people view your video. This is paid in the TikTok creator fund.
You apply for the TikTok creator fund if you meet the requirements;
- Having a minimum of 10,000 followers receiving at least 100,000 viewers in the last 30 days.
- Having a TikTok account that adheres to TikTok’s community guidelines and terms of service.
- Must be living in the US, UK, France, Spain, Germany, and Italy
This may sound ridiculous, knowing that TikTok’s competitor, YouTube, pays as high as $5000 for 1 million views. The difference here is that it is easy to hit 1 million views with TikTok than it is with YouTube. TikTok sends you traffic to your content. It’s not a miracle to hit 1million views in a day or two. However, with YouTube, much more effort has to be invested. It can take you years to reach one million views. It’s not impossible however and once you do, it gets easier.
40 dollars for 1 million views, am sure you are wondering if it’s worth the effort. Yes, it is. If you explore other ways to make money on TikTok, you will smile your way to the bank. Here are other ways TikTokers make money.
Other ways to make money on TikTok.
1. Live streams
If you grow a following on TikTok, making live streams is one lucrative opportunity for you to make money. Find a niche that people can identify you with to easily attract a following. Go live often. Your followers will join to watch and also attract new followers.
As they view your live streams, if you provide rich interesting content, they will send you virtual gifts. Each gift is worth a certain number of coins. The gifts include;
the Panda which has 5coins,
Italian hand with 5coins as well,
love bang 25coins, sun cream 50 coins,
rainbow puke 100coins,
concert 500 coins,
I am very rich 1000 coins,
drama queen 5000coins
Viewers can buy coins for up to $10,000 from TikTok. 100 TikTok coins cost $1.39. Note that you can only earn coins when you go live. To stream live you must have at least 1000 followers.
Your followers buy these coins with real money, and they then use the coins to buy virtual gifts.
The gifts you receive are converted into diamonds. The diamonds go for 50% of the total number of coins you have. Let’s say you made a live stream and one of your funs gifted you the ‘’drama queen’’ virtual gift which is valued at 5000 coins. To convert that gift into money, the 5000 coins will be converted into 2500 diamonds. Each diamond is worth 5cents or $0.05. To cash in, you will earn $125 from a drama queen gift from one viewer.
Live streams can be lucrative if you build a following. Guess what! it is very easy to build one on TikTok.
2. Affiliate links.
Affiliate marketing is an arrangement where an online retailer pays you a commission for leads or sales generated from your online referrals. The retailer traces your referrals by a special link from your TikTok app. Here is what you need to do.
- Find one product with a lucrative affiliate marketing offer. A product that can enable you to create consistent relatable content.
- Start creating the content to attract a following of at least 1000 followers. Tiktok allows you to add a link to your bio once you hit 1000 followers.
- Create a landing page or sales page and link it to your affiliate link.
- Add your landing page link to your bio. Note, don’t add your affiliate link to your bio instead. TikTok bans profiles with affiliate links in the stories. In the bio, you can only post one affiliate link. Add affiliate links to your landing or sales page.
- Create relatable content with a call to action asking viewers to click on the link in your bio.
When viewers click on the landing page link it will redirect them to your affiliate link to the retailer’s site. When they make a purchase, you will earn a commission.
3. Product endorsements and promotions.
A new effective way of marketing is promoting products on TikTok. Brands pay TikTokers with huge followings to produce video content endorsing or promoting their products.
You can use it to promote your product or have someone else or a company pay you to promote their product.
Companies pay tikTokers as low as $200 and as high as $500,000 to promote products. Charlie D’Amelio is listed as Forbes’s top TikTok money earner for her product endorsement deals with companies like EOS cosmetics.
In conclusion, if you are only considering posting TikTok videos to get a million views to earn a significant income from the app, it may not be worth your effort unless $40 can change your life. But if you consider utilizing other forms of making money on TikTok like affiliate marketing, live streams, and product endorsements, be ready to make a lot of money from TikTok.