TikTok is becoming increasingly popular in Nigeria, and the opportunities to make money on the app are rapidly growing too. For those who don’t know what TikTok is, it is a social media app that hosts short-form video content ranging between 15 seconds to 10 minutes. TikTok users are commonly referred to as TikTokers.
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How much you make on TikTok depends on your strategy. However, some strategies come with a specified amount. For example, TikTok has a program that allows its users to earn up to $200-$1000 per month. You can make more if you have many followers or work with famous brands.
Globally, TikTok is ranked the 6th most used social media platform. As of January 2022, it is said to have 1 billion active users. By now, you can guess how much you are likely to earn if you do it right.
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Whether as a user or a creator, you can make good money on TikTok. There are several ways to do that. But there are also quick and smart ways. Let’s discuss the latter below.
Affiliate marketing is one of the easiest ways to make money on TikTok. It involves promoting other people’s products to help them boost sales. You earn a commission when a buyer clicks your affiliate link and purchases a product.
You don’t necessarily need a large following to do TikTok affiliate marketing. With 1000-5000 followers, you can make money as an affiliate on TikTok. However, you need to have good content to promote those products. The contents must persuade buyers to choose you over others.
Do you create good content on TikTok and have a large following? If yes, then selling merchandise is a great business idea. It is a fast way to make money. Selling merchandise can help you earn big on TikTok.
Having a large audience is helpful as you attempt to sell merch on TikTok. It can help to boost sales. Also, you need to understand your audience. When you understand them, you can make content and merch they won’t be able to resist.
This involves you advertising other people’s products in your video. You stand a chance of earning massively from ads if you have three things: many followers, engaging content, and a high engagement rate for your content. Advertising for other brands using your content is also regarded as sponsored posts.
How much you can earn from sponsored posts depends on the number of followers you have. Your brand’s visibility, engagement rate, and negotiation skills are also important. Brands pay you more when you have huge followers and a high engagement rate.
It is common for social media users, especially businesses and brands, to hire social media managers. This applies to TikTok too. Social media managers are people or agencies who manage social media accounts on behalf of users.
Users could be individuals, brands, or businesses. They prefer to pay others to handle their accounts, maybe because they are too busy or need an expert to manage them.
The social media manager’s work may include increasing the number of followers, engagement rate, or brand visibility. It could also be to help a business make more sales. The responsibility of the social media manager depends on the goal of the brand or business.
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Video editing is a skill, and it can be offered as a service. TikTok is a platform that is mostly about sharing engaging videos. This means that you can render your video editing skill as a service to those who may need them on TikTok.
You can offer to help busy TikTok creators edit their video content. Doing this can fetch you lots of money. To excel in editing videos on TikTok, you need to understand the brand or individual you are working for. You’ll learn how to make money as a TikTok video editor in this video.
People buy TikTok accounts for different reasons. Some people need a large TikTok audience but don’t want to grow the account from scratch. You can sell an existing account with many followers to such people.
You can also buy an account, grow it, and sell it later at a higher value. This can also earn you money. Buying and selling TikTok accounts is not yet widespread in Nigeria. However, those who already know about it are growing their accounts so they can sell it later.
TikTok’s Creator Fund is an official fund established by TikTok to compensate creators for their content. Simply put, creators work as independent contractors for TikTok and are paid for the views they accrue each month.
You need at least 10,000 followers on TikTok for your account to be eligible for the creator funds. Additionally, you must have a minimum of 100,000 views on your videos within the last 30 days. According to TikTok, the amount you’ll earn on any video depends on the number of views, content engagement rate, and authenticity of views.
This section will answer some of the most frequently asked questions on this subject.
You do not need views before you can make money on TikTok. However, before becoming part of some of TikTok’s programs, you must have a certain number of views. An example is the TikTok Creator Fund program. You need a minimum of 100k video views in the last 30 days to join.
You may not need followers if you use TikTok to drive traffic to your website or e-commerce store. The same applies to you if you don’t need engagement from the TikTok audience. However, you’ll need to have followers if you want to make money with some of the methods we’ve discussed.
Generally, entertainment content performs best on TikTok. The best examples are funny content or trends. But don’t allow this to limit you. The most important thing is understanding your audience and creating content they love.
Many Nigerians are now getting to use TikTok. However, most do not yet realize the money-making opportunities in it. We hope that with the tips revealed in this guide, you can now leverage the platform to make money for yourself.
