Budding creators and TikTok influencers will likely already be familiar with the concept of TikTok Live.
It is a feature that becomes available once you hit the 1,000 followers mark, inviting creators to set up and “go live” with their followers – showcasing specific skills, opening a direct Q&A, making an announcement, or simply chatting with and to followers.
Suffice to say, the engagement benefits are wide ranging when you use the TikTok Live feature. But did you know that this is also where TikTok becomes of monetary value to users?
TikTok Live Gifting
As a TikTok user, your wallet in the app contains a number of coins that you can buy and trade in for gifts during TikTok Live streams. These gifts range from small tokens to extravagant visual displays, costing anywhere from the value of a single TikTok coin to hundreds of pounds worth of coins.
Now, it’s not as simple as receiving a gift and cashing in its financial value.
TikTok first converts all gifts into TikTok diamonds, taking commission along the way – all stages which decrease the amount of money that the creator and Live stream host gets to keep.
Despite this though, in its most basic sense, the receipt of gifts is the quickest and most direct way of making money on TikTok Live. But it’s not the only option available to you…
Launching a Campaign on TikTok Live
You will find that many creators, businesses, and budding influencers use TikTok Live as a platform for more than just receiving gifts.
In fact, gifts form just one of the ways of creating and generating income on TikTok, with the most successful earners being those who broaden their horizons with direct product and service marketing, gifts, viral videos, and collaborations.
To focus specifically on the best moneymaking ventures on TikTok Live, the next best option is to use the live stream platform to market and launch sales campaigns – reaching out directly to followers and encouraging them to buy something you are selling.
NOTE: This doesn’t have to be a product that you are selling for yourself. TikTok Lives are a great way to highlight and launch collaborations, sharing your own thoughts on a product that’s on sale through a brand that you are working with. Most of these set-ups work by granting you a percentage of each sale, completed as a result of your marketing.
Host a Sponsored Live Stream
Did you know that creators can also work with brands to host sponsored live stream events – with the brands paying big name influencers and notable creators to talk directly to potential customers and promote their brand.
Some of the ways that these paid live streams can be leveraged include tutorials, Q&A sessions, and live shopping deals.
Is TikTok a Good Place to Make Money?
Despite TikTok being one of the most popular social media platforms in the world, making money through the app is not easy if you focus specifically on one or two core areas. In order to make a sustainable income, you need to spread your earning across as many ventures and avenues as possible – adding Live Gifts and collaborations to Sponsored Live Streams and more.
And as you might have realised already, the more followers you have the higher your chance of earning money through TikTok. As such, it’s just as important to focus your energy on building your community and increasing your follower count, as it is to start earning income.
