TikTok is one of the most engaging platforms for today’s athletes. With average engagement rates ranging from 5-9% and 62% of users are between the ages of 10 and 29 (according to STN Digital), the platform has near-unlimited monetization potential for committed creators. This article will break down the best practices for key TikTok monetization methods.
Influencer Marketing
Influencer marketing has become increasingly prevalent on TikTok feeds. From unboxing videos and product reviews, to individuals opening promoting a specific brand, the potential for brand and influencer partnerships are just as prevalent as more established social networks.
Brands often pitch influencers based on a naturally connection or passion for the brand or products. Brands might seek out content that connects with a niche audience that fits their target market, or a user’s specific audience demographics. Ultimately, brands want to partner with athletes or influencers whose content and audiences align with their targets.
So, how can you, an athlete, appeal to potential partners?
Not every post needs to be about a brand you love, but targeting specific interests and topics will help establish audience connections and build a strong niche community.
Another way to secure partnerships is by understanding your audience demographics. You can leverage this if your audience is directly related to a brand’s target demographic. Slide into a brand’s DMs and explain why you’d be a great fit and how your audience is naturally tied to their target market. Check our recent analytics blog on how to access this data. The more specific data you can show, the better you can negotiate.
To secure partnerships like this, be sure to include your Opendorse Profile link in your bio to direct brands directly to your profile and show your open for deals.
Affiliate Marketing Links
Influencer marketing rolls directly into affiliate marketing. If you’re promoting a product, you can direct your viewers to an affiliate marketing link in your bio to earn a percentage of each purchase they make. Many sites and brands have affiliate programs, you may have to do some research as there are hundreds of programs out there, and brands all have different commissions and payout structures. Some examples include Amazon (https://affiliate-program.amazon.com/) and Target (https://affiliate.target.com/).
Affiliate Marketing might not always bring the highest revenue, but it’s relatively effortless after you acquire a link, as you can market a product on your own time and tie in your own personal brand and style.
Creator Fund
One of the most talked-about TikTok revenue streams is always the Creator Fund. This elite program is open to any athletes who have at least 10K followers and have earned 100K video views within the last month to be eligible for the application process. The application process can be found in TikTok under the creator tools tab.
TikTok does not disclose its exact fund calculation but claims their formula considers views, engagement, and how well they adhere to community guidelines.
It’s important to note that you don’t have to be in the creator fund to earn revenue on TikTok. The other methods mentioned don’t require any association to the creator fund.
Other Methods
You can utilize TikTok for monetization outside of the platform. Direct your audience to external revenue streams such as personal merchandise, a camp your hosting, or your youtube channel. Encourage your audience to connect with your other channels and follow you across networks. As they become more invested in you, the more they’ll become invested in your content, and vice versa. If a brand or potential partner see’s your audience across channels, they might want to engage in a multi-channel deal, so take that into consideration as well as you promote different platforms and revenue streams.
The opportunities on TikTok are endless. Most importantly, have fun with your content and build an audience naturally. People will want to follow you for personality and interests before they’ll want to engage with your content or buy a product you’re promoting. Build your community and engage with them just as much (or more) as they engage with you to ensure long-term success.
Disclosure
At the conclusion of any activity, be sure to disclose all payment activities to your institution or governing body to remain compliant and eligible in your sport.
