Tiktok App for Businesses? How to earn money through Tiktok?
Tiktok App is a video sharing social networking service by ByteDance that lets you share short video content of 3-15 seconds.
I know what you’re thinking! Tiktok? Isn’t it that app for kids filled with lip-sync videos, bad acting, excessive filters and bad comedy?
Yes that’s the one.
Remember, this is what people said about Facebook– it is only for college kids, Instagram- it is only for sharing pictures. Every platform goes through this phase. Ultimately, it is about sharing a story and building a brand and fan base around you.
I’m sure I have a lot of convincing to do for businesses and personal brands to install Tiktok App and start creating content. And I’m up for the challenge.
Ready to have you mind changed? Onward!
TikTok was the third most downloaded app in the first quarter of 2019. It is well on its way to climbing up the social media ladder. Businesses like Nike and NBA are already running ads and creating content on it.
Tiktok recommends its users to be at least 13 years old and the users below 18 to have an approval of their parent or guardian.
With 1.5 billion user, Tiktok is surely not going to replace Instagram but it is surely on its way.
Yes, there are multiple ways you can earn from Tiktok. You can earn diamonds, get brand integration and transfer your brand equity to other platforms like YouTube.
Unlikely. Tiktok’s parent company ByteDance is now the world’s most valuable startup. With over 20,000 staff and multiple locations all over the world, it is highly unlikely it will die off.
Tiktok App was launched initially only on China under the name Douyin on September 2016. It was released for International audience in September 2017. TikTok and Douyin are similar, but run on separate servers to comply with Chinese censorship restrictions.
I’m sure you must have heard of a similar app named Musical.ly. Yes, Tiktok bought them for $1 Billion on November 2017.
After they bought Musical.ly, the app experienced some explosive growth.
Statistics to blow your mind!
- Tiktok App has been downloaded 1.5 billion times.
- It is the third most-downloaded app outside of gaming this year.
- In the top five most downloaded apps worldwide in Q1 2019, TikTok is the only one that is not owned by Facebook.
- When it comes to the usage of TikTok based on gender, 55.6 percent of users are male and 44.4 percent of users are female.
- Users spend an average of 52 minutes per day on the app.
These stats are nothing short of a miracle considering its short existence on the market.
What You Get
For those of you new to the platform, here is a beginner’s guide to Tiktok App.
You can download the app from both Google Playstore and iOS store. Once installed, it gives you multiple options to login.
Once you’re logged in, you are immediately presented with videos from creators on the platform.
Basically, there are five tabs inside the mobile app
When in home, you’ve got two options: For You and Following. As the name suggests, For You feeds you the content that the Tiktok algorithm thinks you might like and Following is the tab for the people you follow.
In this tab, you can discover all the latest trends and challenges that other creators on the platform are participating.
Add (+ symbol)
This is similar to Instagram app that opens up your camera roll or lets you upload from the Phone Gallery.
Inbox and Notifications
This tab is dedicated for Inboxes and Notifications where you can check out the comments, likes and views your content is getting.
This is where you would insert your bio, you would see the total likes, follows, views and your library.
So now that we have made ourselves comfortable with the layout, let me explain the reasons why you should be active on the platform and start creating content.
Why you should be on Tiktok
Organic Reach and Attention:
If you’ve been using Facebook, Instagram or Twitter for the past few years, you’ve experienced the death of organic reach.
Let me explain with an example: Marvel Page on Facebook has 32.9 Million likes. The largest number of like they got on a post for the past week was 7,600.
If you think that’s not so bad. Think again.
That is 0.02% of their audience. Can you imagine? All the people that had volunteered to see posts from Marvel were not shown the posts.
That’s the current situation of social media.
Tiktok is the new boy in town offering free reach and attention to everyone that creates content on it.
As an experiment I made a short comedic video on Tiktok and it was shown to almost 3000 people (I know its not a huge number but considering I had zero follower, its not half bad).
Build Brand Equity
Remember Vine? Even though it was shut down, it gave birth to various stars like Rudy Mancuso, Lele Pons, King Bach etc. They were able to leverage their brand equity and channel their audience to other platforms like YouTube and Instagram.
You’ll have a great following by the time most people are just getting started because they waited and you didn’t. You will have the first movers advantage.
User Generated Content
I think the best part about Tiktok is its priority on user generated content. Unlike Facebook and Instagram where it is all about the people you follow, Tiktok helps you discover and introduces you to new creators.
Also, Tiktok gives a full screen real-estate with undivided attention. Unlike Facebook and Instagram, every piece of content you consume covers a full screen of your device.
One of the reasons Vine failed, apart from lack of funding from Twitter is due to their lack of introduction to new and trendy features.
Tiktok is jam-packed with features like free-to-use songs, filters, camera tricks and easy editing. Another feature that increases the user engagement is the ability to react to the videos created by other content creators. They still have Musical.ly’s duet feature that made it very easy to perform duets with others.
Tiktok users are almost always participating in some kind of challenges that gets millions and millions of entries.
So, have I convinced you to make the transition to Tiktok?
What was that? Still not convinced? Looks like I need to bring out the big guns! Be prepared for some social proof!
Some famous businesses leveraging Tiktok
Here are some tips for brands who want to experiment with the platform:
Tips for Businesses who want to experiment with Tiktok App:
- Show a different side to your company.
You can provide you viewers with behind the scenes footage, bloopers, introduce new employees or a personal message from the brand. Just have fun with it.
- Engage with your audience.
Engaging first hand with your customers have never been easier. On Tiktok, you can like, comment, react or even have them perform a duet with you.
- Contextual Content
Your content needs to be relevant to the platform. Cheesy quotes and sales-y posts don’t do well on Tiktok. Try to make a piece of content that seems natural. This doesn’t mean you need to lip-sync or perform sick dance moves, just try to tell a better story.
Advertising on TikTok
Tiktok rolled a beta version of their advertising offering. This feature is related new as it launched in early 2019. Tiktok offers four ad formats:
- In-feed auto play vertical video.
- Branded Lenses
- Branded Home Screen Takeovers
- Sponsored Hashtag Challenge
Since then, big dogs like Nike, Apple Music, Grubhub are testing with Tiktok ads and are doing well.
Can you earn money from Tiktok?
Finally, the answer we’ve all being waiting for. Since we know that YouTubers with a fan following make a decent amount of money through ads.
What is the case with Tiktok? Are the creators on the platform with millions of followers earning any money?
Yes and No.
Tiktok doesn’t offer any monetization through ads like YouTube and Facebook (I’m sure this feature will be available in near future), but there are ways Tiktokers can earning money.
Brand Integration: Brands pay a hefty amount to creators to have their product being displayed on one of their videos.
Tiktok Gifts and Diamonds: This is similar to what Twitch does where people donate and support their favorite content creators. In case of tiktok, you can gift your favorite creator by gifting them some coins.
Then, you can gift these coins to your favorite creator through gift like:
Meanwhile, on the creator side, those coins turn into diamonds. Tiktok takes 50% of the amount. Remember, it takes 200 diamonds to make $1 USD.
So, basically what you can say is for every 200 diamonds earned, the creator gets $0.5 USD.
You can withdraw once you have gathered $100 USD.
Transfer your Audience: You could build a huge following on Tiktok and then transfer your audience to other platforms that support monetization like YouTube.
Have I convinced you to download Tiktok app and start spitting out content yet?
I’m pretty sure I have. If not, remember this:
People who got into YouTube a decade ago are making millions and millions of dollars and have millions of subscribers.
See ya on the next blog!