While TikTok has been in existence for over three years, it only really took off a few months ago. With over eight hundred million active users, TikTok has evolved from just an entertainment app to a source of income.
While it doesn’t have many avenues for monetization, there are a few areas where you can earn a steady income; one of them is live streaming. In this article, I’m going to share with you how to make money on TikTok live.
How to Make Money on TikTok Live.
It is probably prudent to note that you need to have at least a thousand followers before you can start live streaming on TikTok.
There are many ways to gain followers, and you can even start creating content in your niche and laying other foundations that’ll help you make money on TikTok later.
To learn more about how to make money on TikTok and set up your account for monetization, you can click here. Otherwise, let’s get into how to make money on TikTok live.
1. Selling your products
Many people have things that they sell online, and TikTok can further advertise your goods and services. This is especially effective if you have content centered around that specific niche.
However, if you don’t, you can create a live show just to advertise your goods, demonstrate what they can do, prices, where you can get them, and how they’ll be shipped.
Make sure to carefully choose your hashtags when you do your live show and advertise your product to solve a problem or meet a need.
In this way, you can relate with your viewers and make your product seem like a necessity and not a luxury. Many TikTokkers use their lives to advertise their own clothing, jewelry, or cosmetic brand, and you can do it, too.
Don’t have a product to sell yet? That might not be a bad thing. However, you should have content in your product’s niche.
If you don’t have a product to sell yet, at least choose a niche with products you’ll be able to advertise and create content around.
Then, you can slowly become an authority in that niche, and when you officially start marketing your goods, your advertisements will have more effect.
For example, if a famous make-up artist sells a newly launched concealer on her live show, viewers will probably want to buy it because she/he is a trusted authority in beauty products on TikTok.
2. Selling affiliate products on TikTok
Unless you have several TikTok accounts, most of your videos will probably run towards a single theme. Some people do mostly challenges, others do short skits, and others still choose a niche and create content.
The first thing to do while learning how to make money with TikTok live by selling affiliate products is to choose a niche.
When you’ve made a name for yourself within that niche and have a decent amount of followers, you can look for affiliate programs within that niche and market them on your live show.
TikTok hasn’t allowed the inclusion of links to video yet, so when marketing affiliate products on TikTok, insert your affiliate link in the website column of your account’s bio and encourage people to click on it.
Another method is to simply include the link to your affiliate website or landing page to the website column of your bio.
Doing it this way will enable you to promote multiple affiliate products to your followers and you can also build a mailing list and make more money from your live shows in the process.
Using these methods to make money on TikTok live through affiliate marketing still follows the same basic concepts with the option of selling your products.
If you want to monetize your TikTok live shows with affiliate marketing, then the content you post before you choose an affiliate program is like bait for a fish.
The bait is the amazing content you’ll create to enchant a group of dedicated followers, who are the fish.
You can do it this way because when you choose TikTok as a marketing method for some affiliate programs, the company might check out your account.
And it’s much better to have content in their niche up and real, with active followers than an empty account. Otherwise, you might not be able to become their affiliate.
Also, establishing your presence in a niche will help you make your followers your target audience.
If they’ve been actively following you, sharing, and commenting under your posts, that must mean they’re interested in your content.
They’ll likely buy what you advertise because they have a use for it. This makes them your target market.
If you don’t have your target market amongst your followers, it won’t matter how much you market. You won’t be able to sell your products.
Click here to get free access to the most complete affiliate marketing training on the internet if you wish to monetize your live shows with affiliate marketing.
3. Reviews
This method requires you to have a sizeable following and authority in your niche before making any money. You can review products in your niche on your TikTok live show and create awareness about them.
This serves as a kind advertisement for the product and manufacturer and can quickly help them rack up sales.
Doing this before you have a deal with the company you’re promoting is a free advertisement for them and a way to practice filming product reviews for you.
You can do them for products you use and like, as a rehearsal for the ones you’ll get paid for. You can do this once in a while, but make sure it’s not often. Free advertising doesn’t pay the bills.
Once you’ve gotten a fair amount of followers and sufficient experience doing product reviews, you can pitch your services to companies. You increase their exposure with good content and get paid.
4. Receiving Donations
Many TikTokkers have learned how to make money on TikTok live through this method. It’s one of the more straightforward ways because it relies only on your content creation skills, personality, luck, and viewers’ generosity.
When you go on TikTok live, both followers and non-followers can view you. TikTok has a nifty little way for them to show their appreciation, and that’s through donations. These donations are known as coins.
They’re paid for with real money, and anyone with a TikTok account can buy them from their profile.
Your followers can buy as many or as little as they want. Then, when you go live, they can choose to reward you with these coins. As the receiver, you can turn these coins into diamonds, and then turn it to real money through PayPal.
TikTok only allows you to withdraw 80% of the money.
Learning how to get money from TikTok might require you to do several things like find a niche, find affiliate programs within that niche, look for products to sell, etc.
This solution doesn’t. All you need is content, charisma, and gratitude because followers tend to donate more when you thank them personally or do a shout-out.
How Much Can You Earn From TikTok Live?
This depends on several things. You can make very little in TikTok, but you can also make a lot. Many people know how to make money on TikTok live, but the value of accounts differs from person to person.
If you want to get a rough estimate of how much you can earn from TikTok live, you can use the Igface TikTok calculator. This website can also serve as a TikTok earning calculator.
Conclusion
While the first step to making money on TikTok is creating great content, it doesn’t hurt to know all your options.
Using your TikTok live to make money can serve as a source of sustainable income to you and even boost your primary business on TikTok. You could even end up becoming more popular because of it.
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