It’s every content creators’ dream to be able to earn from TikTok, and while many influencers have proven this possible, it can be quite a challenge for those who are still in the process of building their presence on the platform.
The truth is, turning your TikTok account into a revenue-generating stream is hard work. But with enough skills, dedication, and the right guidance; you can get there!
This article covers all you need to know on how you can monetize your TikTok live streaming. Let’s enumerate the steps one by one.
Grow a loyal and engaged fan base
If you have followers of less than 100k, you’ll find it hard to profit from TikTok live streaming. So it’s a must that you first prioritize how you’ll grow your followers.
Some of the ways you can reach a more significant amount of following so is through:
- Committing to a niche you’re most passionate, skillful, or knowledgeable about
- Staying consistently active in your TikTok account, which should reflect both on your recent posts, and interaction with your followers
- Making content that best resonate with your target audience
- Making use of trending hashtags, music, sound effects, or creative video formats
- Displaying gratitude to your followers after hitting a milestone as a content creator
- Making collabs with other small influencers and content creators on TikTok
This step is ultimately the hardest part, but once you get a good amount of followers, you can not only profit from live streaming but also from getting brand deals in TikTok.
Get TikTok coins from your followers
Live streaming is where you get to connect better with your TikTok followers in real-time. What’s amazing about it is that, if your followers truly like your personality and content, then they’re more likely to send you TikTok coins as a way to show support.
TikTok coins are purchased by users directly from the app in exchange for their actual cash. Since your followers can’t directly send you funds into your bank, you can earn by receiving TikTok coins which you can convert to diamonds then to real cash through PayPal.
Diamonds are worth 50% the value of TikTok coins, which means that if you receive 50 TikTok coins, then that’s equal to 25 diamonds. As for diamonds to real cash, 1 diamond is equivalent to 5 cents. So for instance if you have a hundred diamonds on hand, it amounts to $50 in cash.
As good as this sounds, note that one of TikTok’s policies is to tax 50% of what you earn. Meaning if you get a total of $100 from TikTok, you’ll only get $50 once you convert it to cash. Not to mention, your collected coins should be worth a minimum of $100 before you get the chance to cash out.
The truth is, this process of earning can be slow and will need more of your patience. But if you truly enjoy what you’re doing, then you might as well keep going! Chances are, it will end up as a long-term gig once you get higher engagement rates in your live streams.
Market brands in your TikTok live stream
There are numerous companies and brands looking to get better exposure and sales through the TikTok platform, and what better way for them to do that but to collaborate with credible content creators to promote their product or service. That content creator can be YOU.
To attract brand deals, you should (then again) have a significant amount of followers who are loyal and interactive. You can also politely reach out to brands yourself, and see if they’d want to sponsor and make a “collab” with you.
Once you’re able to do so, you can earn depending on the deals you’ve made with the brands you’re promoting – it’s possible that they either pay you a fixed amount, supply you with some of their products for free, or even both.
One important piece of advice though is that you should do detailed research first about the brands you’ll be promoting before deciding to make a deal with them. More so, before you promote a brand’s product or service through TikTok live stream, make sure you try it first before convincing others that it’s good.
It may be exciting to land on a brand deal, but it can also risk your followers if you make business with an infamous brand.
Get creative with your live streams.
Before you decide to set a live stream, come up with a topic or content your target viewers or current followers would be interested in best.
If you’re struggling to generate topic ideas for your live streams, you can start by asking some of your followers on other social media platforms what they’d like to see or hear from you – Do they have any request on who you should add as a guest in your stream? Are there any suggestions on which topics they’d like to discuss with you?
You can use Twitter, or your Instagram stories which have Q&A and poll features, to conveniently get answers from your audience.
The idea of live streaming, for some, is nerve-wracking, and if you’re a content creator who’s not really used to doing live performances or interactions, it’s also great to take your time to practice!
Making money from TikTok live streaming requires plenty of hard work and dedication.
Not only do you need to stay consistently active in TikTok, but you also need to find ways to better connect and resonate with your audience.
In summary, some of the most important factors that can contribute to your success in earning from TikTok live streaming is the number of your loyal followers, the rate of your engagements, having reputable brand deals, and of course, the quality of your content.
Now that you’re well-aware of the steps you can take to generate money through TikTok live streaming, take time to absorb what you’ve learned and assess how you can improve your relationship with your current followers.