TikTok is one of the social media platforms that have experienced the fastest growth rate since its inception in 2016. It has over one billion active users, with 6% of them being influencers with more than 100,000 followers on their accounts.
And do they make money? Yes, they do.
TikTok pays $20 to $40 anytime your story hits 1 million views. The platform offers a TikTok Creators Fund that pays about $0.02 to $0.04 per 1,000 views. However, to start earning with TikTok, you must meet some requirements. They may include the number of followers, views, and if your TikTok account is verified.
How much does TikTok pay you for 1 million views?
TikTok created a Creator’s fund in early 2021 that helps creators access their earnings from the platform. The program has received $300 million of funding to pay TikTok creators.
However, you must apply and be a frequent TikTok user to access it. If TikTok Creators Fund pays $0.02 to $0.04 per 1,000 views, that means for 1 million views, you can be paid $20 to $40.
How they calculate these earnings has yet to be discovered. However, some reports have said that they consider the factors below.
Geographical location
TikTok gathers your approximate location based on information about your network or device using your IP address and SIM card. Tiktok will also collect information about your location based on the GPS data on your device whenever you enable Location Services.
This way, they can tell your geographical location, which will later determine how much you’ll get paid. For example, a TikTok creator in the USA can be paid differently than a TikTok in South Africa.
Number of followers and views per story
We have seen that you get paid $0.02 to $0.04 per 1000 views. The views are not your accounts as a whole but per a story or video. For instance, if you have a viral video with 1.5 million views, you might make $30 to $60 from that one video.
When it comes to followers, you must have at least 10,000 followers to start learning. You also need to have attracted 100,000 views in 30 days. Users with more than 100,000 followers on TikTok can earn between $200 and $500 monthly.
Verified account
Having a verified TikTok account means attracting attention from brands that will help you increase how much you earn on the platform. However, you should know that Tiktok doesn’t pay verified TikTok creators unless you choose to join TikTok’s, Creator Fund.
Engagement rate
Your engagement rate is also another factor determining how much you can earn on TikTok.The more consent you’re with publishing content, the more you create commands on the platform.
Content Genre and the type of product or service you promote
Does your content relate to the audience? Does it affect their daily life, and is it a trending topic? If all your answers to the question are yes, then you can increase your view and, more so, your followers.
As the number of views and followers increases, so does your earnings.
How to monetize your content on TikTok
To earn a fat paycheck on TikTok, you need to monetize your TikTok content. There are several methods that you can combine to achieve this.
Affiliate marketing
As we saw before, a verified TikTok account attracts brands wanting to partner with you in marketing their goods or services. And why not take such a chance?
Some brands will reach out to you, while you need to look for others on platforms such as Amazon Associates. You will find a link or be given one that will take potential customers to their product or service page.
You can add the link to your bio or caption somewhere visible to the audience. When users click on the link, you get a commission from the brand.
Sponsorships posts
Besides affiliate marketing, you can promote brands through brand deals and sponsorships. This is by creating sponsored videos or posts about their products or services.
I have seen a lot of cosmetic brands use TikTok influences to market their products. Some will even pay you to do a brand challenge.
However, you will need a high engagement rate and a decent following to achieve and get such kinds of brands.
Utilizing TikTok Creator Fund
Immediately after you hit 10,000 followers, apply for a TikTok Creator Fund. However, you must attain at least 100,000 views in a month and be 18 years of age.
The CreatorFnd program may consider things like likes, engagement, comments, and views, among other things. Next, you must ensure that all your content meets TikTok community guidelines.
TikTok marketplace
Here is where you get to meet potential brands. It’s created for brands’ and creators’ collaboration. To be eligible to create one or apply for one, you need at least 100k followers.
The TikTok marketplace provides you with tools and tips on how to create sponsored posts. You will also use some of the tools to analyze your performance.
On the brand side, it helps them to connect with the “perfect” influencer for their products or services.
Selling products and services.
You can also monetize your content on TikTok by selling products and services. You can sell T-shirts, jewelry, accessories, or kitchenware.
You can create or outsource a product and sell it to your audience.
Activating the live gift feature
The LIVE Gifts feature on TikTok lets your viewers respond to your content and send gifts to show their appreciation live. You need to activate it to use it.
You can get gifts like animations, badges, and other things. One way to earn diamonds based on your LIVE videos’ popularity is through LIVE Gifts.
You get more exposure and connect with your potential followers through live streaming. You can also improve relationships with brand followers.
Conclusion
Getting 1 million views on TikTok opens up a long-term income stream, whereby you can make $20 to $40 with such a number. While TikTok pays you well, achieving such a number takes time and luck. But a lot of people have succeeded in hitting the target.
Furthermore, how much you earn will also depend on several factors, as stated above. Nevertheless, TikTok is worth a try if you want to make some quick cash.
Being one of the most popular platforms at the moment, it’s definitely a great way to sneak in and become one of the top TikTok influencers.