COVID-19 has made an enormous impact on our lives and the world’s economy. However, just like any situation we have been through in this world, there is always opportunity and open doors despite the crisis.
People across the US are staying home due to lockdowns ordered by the government. The pandemic may have blocked off people’s sources of income, but there are still many ways you can make money online.
Whether you need to switch to a new job or business or trying to earn some extra on the side, we share an exciting and fun way for you to make money during this coronavirus situation.
TikTok is still a new player in the industry, but its impact has been tremendous due to its extraordinary growth.
The app started and became famous for showing off your dance moves.
While the older generation has focused on Facebook, Instagram, and Snapchat, younger users have flocked to TikTok.
TikTok has been growing and has dethroned Instagram as the top free app on Apple Store in 2018.
The free app enables users to make and share 15-second videos set to music and feature choreography.
TikTok users just love creating videos using the same sound or song from another video. Comedy is the leading category on TikTok, which also includes dancing, viral challenges, magic tricks, parkour, and lip dubbing.
Users have to be at least 13 years old to make an account. Sign up is free by downloading the app from the App Store. You can sign up using your Facebook, Google, Instagram, or Twitter account.
With over 1 billion users, the world’s fastest-growing app has not only entertained people while on lockdown but is also a potential source of income for those who are willing to learn the intricacies.
How To Monetize on TikTok
Failed social charing apps like Vine and Musical.ly are now history due to the lack of monetization opportunities.
Youtube, Instagram, and IGTV have money-making programs that are easy for content creators to implement.
There is no way to earn money directly from TikTok as the app doesn’t pay or offer incentives to its famous artists.
TikTok has been recognized by no less than the WHO(World Health Organization) as a valuable tool for spreading health awareness, especially during this COVID-19 pandemic.
The selling point lies in the platform’s emphasis on short clips that can go viral.
Companies like Dettol, who are known to sell hand sanitizers, disinfectant sprays, and wipes, has launched a TikTok challenge targetting people in India to wash their hands.
The challenge has garnered 11 billion views in merely five days.
While TikTok is not built around monetization and providing income streams like the other platforms mentioned above, it is possible to earn money using the platform.
Become an Influencer on TikTok
Build your following on TikTok and become an Influencer. If you have a huge following, you can monetize your video appearance on the app by recommending products and services.
Company owners would pay you for your promotion of their products and services on the platform.
Promote and Sell a Product
The easiest way to make money via TikTok even if you are not an Influencer is to promote your product or business using the platform.
Create videos that are funny and entertaining to attract attention then leave a few frames at the end for pitching your product or service.
You can add affiliate links at the end of your video and make money from affiliate sites.
Upload TikTok Videos on Platforms That Monetize
Many famous TikTokers migrate their fanbase over to YouTube and start earning money.
TikTok compilation videos are slowly becoming popular on YouTube due to their short and funny videos.
You can start making money on YouTube when you reach 1000 subscribers and 4000 watch hours within 365 days.
Average earnings can be a dollar(US) per 1000 views, but you need someone to click or watch an ad in full to get paid by advertisers.
Grow Accounts and Sell Them
One of the ways people are making money on TikTok is by growing an account and selling them. All you need to do is choose a niche and create content.
Once your content goes viral, and your TikTok profile grows, you can sell your account to companies in your chosen niche who have products to offer.
If you become an expert in growing TikTok accounts, you can also make money doing consulting services.
You can pitch your service to clients who are interested in getting 100,000 views on the app, for example.
When you reach 1000 subscribers on TikTok, you can now do live broadcasts where everyone can watch.
The audience can donate while you stream your live content. A professional online gamer in China once had 22 million viewers and received $167,000 in donations from his broadcast.
As a TikTok user, you can go to your profile and purchase “Coins.” When one of your favorite creators goes Live, you can send or donate coins as a way of supporting them.
These coins are turned into “Diamonds,” which are then converted into cash via Paypal.
What Not To Post on TikTok
Violence and pornography are forbidden on the app, and posting such content can get your account banned.
Videos that are rude or posts that troll or baits other bloggers are not recommended. Videos that have low-quality or bad sound are also ignored on the platform.