TikTok sales tripled in 2021: find out how to win on the trending platform
TikTok would have been the most downloaded application in 2021 in the world, so you will hardly find an Internet user who has never heard of it. Today there are over a billion users from over 150 different countries and over 20 million active users in the UK alone.
It’s no surprise that such a fast-growing social platform offers plenty of marketing opportunities – according to IT company Admitad, in 2021 the number of sales generated by TikTokers in Europe has tripled. But let’s get to the main point; how this trending social network can help you earn money?
Lately, the platform has attracted a lot of public attention. In 2021, TikTok officially overtook Google and became the most popular website in the world. Of course, for some platforms, such rapid growth and success didn’t guarantee a bright future (remember the Clubhouse craze?). But that’s definitely not the route TikTok is taking.
Recent research has shown that UK TikTok users spend an average of around an hour a day watching short videos. Such a membership opens up unparalleled marketing opportunities. According to statistics, key indicators are constantly increasing, which is another proof of the rapid development and popularization of the social platform.
An actively growing network can become a significant source of income for bloggers and brands. Let’s take a closer look at the real ways to make money on TikTok.
It is a dynamically growing platform entirely built on the idea of fast video consumption. The main objective is to engage and entertain the public, to give them the opportunity to spend their free time having fun and to get away from routine business. A distinctive feature of the network is its young audience – around 60% of all users are between 18 and 35 years old.
Among the most visited social networks in the world, TikTok ranks seventh with one billion monthly active users. The number of active audiences on the social network has doubled over the past year.
In the UK, this young social platform is ranked seventh by the number of users – around 37% of Britons use TikTok. At first glance, its position is not even in the top five, but you have to take into account that it competes with giants like Instagram and Snapchat. In addition, the platform is still quite young, and the audience continues to grow.
Interesting fact for marketers: around 59% of UK TikTok users are women, and the most active category of users between the ages of 16 and 24 accounts for almost a quarter of the entire audience.
To start making money on this platform, you don’t need millions of followers. The number of views and the engagement rates of your videos are much more important. The platform has a fairly low barrier to entry as all videos are added to other users’ feeds and can easily “get into the top”, because initially, according to the algorithms, all creators are equal.
Additionally, smaller accounts generally have higher engagement rates – 76% for pages that have one to ten thousand followers. The engagement rate of accounts over one million averages around 5%. Another interesting fact: about 30% of all forms of activity take place on weekends. These are the days when you can get maximum reactions from the audience.
How much can you earn on TikTok?
If you have chosen the path of a blogger, the earnings depend on the size of your account and your personal ambitions. At the very beginning, you can charge around 10 GBP for an advertising message. But on average, the numbers are as follows:
- 100,000+ subscribers – from $100 to $200 per post;
- 200,000 – one million subscribers – $250-$500;
- over a million subscribers – from $1,000 and up.
For example, Vi Luong, a 24-year-old TikTok blogger with 1.1 million subscribers, who makes hacking videos and films her daily life, shared information about how much money she earns on the app. She explained that she makes money from both brand partnerships and the Creator Fund. In the beginning, she charged $3000-4000, but now she can charge $8000-10000 for a sponsored video. But if blogging isn’t for you, let’s look at some other options.
How to monetize a blog on TikTok
- Product advertising: This is the main way to generate income in this social network. Bloggers talk about the product and leave their exclusive promo code in the video or add the link in the profile. You can promote a product in the form of a review video, direct advertising, or simply by showing the product in a video without mentioning the brand.
Here are some highlights from a Nielsen study:
- Direct the audience to other social networks: Viewers spend 95% of their time on the platform watching the recommendation feed, which is mostly made up of videos and accounts they are unfamiliar with yet. This is how TikTok is different from other social networks. Therefore, once you manage to capture a user’s interest on TikTok, go ahead and drive them to your Instagram. There he will be able to follow your updates, and you will be able to communicate with him and sell goods.
- Script writing: Once you understand how network algorithms work and how to use trends, you can monetize that skill by creating content for other people or businesses. At the same time, you can both create the script and participate in the video.
- Promotion of musicians: Since TikTok is a video platform, music is one of the main components. Any user can take a song from the app’s library or overlay its original sound. Tracks that go viral bring popularity to their performers, help them get promoted and earn money. That’s why musicians order videos with new compositions from TikTokers.
- Advertise other TikTok bloggers: It is very convenient to advertise other accounts on TikTok – just create a duet video with a novice blogger. The cost of participation depends on your reach.
- Implementation of targeted advertising: To get great content, brands need creative people who will create that content. If the company itself doesn’t have an employee who knows how to do this, it has to hire an outside expert, which can be expensive.
Therefore, it makes sense for some brands to use targeted ads on TikTok. It will be cheaper and the results will not disappoint you. BUT, there are not so many specialists in the market who know how to set up effective and qualitative advertisements on this particular platform. After all, the specifics of setting up ads on TikTok are very different in terms of landing page creatives and functionality.
Whether you have experience with targeting or not, we recommend learning about TikTok. Creatives from this social network are moving smoothly to Instagram, and the skills learned will help you set up ads on any platform in the future.
- Advertising via Affiliate Networks: This method is similar to product advertising (see option #1), but there is an advantage: you don’t have to search for customers on your own. They are all already collected on one website. After registration, you will have access to more than 2000 advertisers.
Another advantage is that your income is not limited to a fixed amount. They directly depend on the number of customers you bring. Cooperation with affiliate networks is based on the CPA (cost per action) payment model – you get rewards for action. According to him, users have to perform a targeted action, which can be a product purchase, order or registration, and you get a reward for each customer you brought.
The monetization process through the CPA network is quite simple. After registering on the platform, you need to choose the country and the categories of goods and services you want to advertise. List TikTok as your workspace. Then select the affiliate programs of the brands you want to cooperate with and join them. After that, just use your unique affiliate link and promo codes in future posts and watch the money flow into your personal account.
Helpful tips from seasoned TikTok bloggers:
- Analyze trends. Follow popular TikTok bloggers, see what attracts the most audience and embed it in your videos. This will help you access the recommendation feed.
- Post content at least five times a week and stick to a predefined content plan.
- Interact with the public: answer their questions and comments, broadcast live.
- When you advertise a product, ask the advertiser for a brief that you will stick to. But remember to leave room for your own creativity. This will make advertising more native, which is important for building audience loyalty.
- The video should be interesting and easy to understand. Users come to TikTok to unwind and relax. The most popular are videos that intrigue, motivate action, and keep you watching until the end.
- Try to grab the audience’s attention in the first three seconds. Involving titles, a bright first image, a question to the viewer will help you with this.
- Encourage viewers to leave comments below the video, so they will rank higher.
TikTok is already helping content creators make money (sometimes even good enough). But still, it is in the development stage. There is no established top-list of leaders among bloggers, any video can enter recommendations and get millions of views. So, if you want to stay on top of trends and get the most out of this platform, now is the best time to dive deep into it. Try different monetization methods, combine them and work to maximize profits.