A staggering number of young Nigerians spend time on TikTok and if you’re one of them, here’s your ultimate guide to how you can make money on TikTok in Nigeria.
What is TikTok?
TikTok is another video-based platform that has grown to become one of the most popular social media network with over a billion monthly active users.
A lot of young Nigerians have fallen in love with the platform, particularly because it’s easy to grow a large following if you consistently share content that users find interesting. But do you know that you can monetize the content you create on TikTok? In 2022, American media personality and TikTok creator, Charli D’Amelio earned an estimated $17.5m on the platform.
Read this guide to make money online in Nigeria as a TikTok creator.
Create an active account
It goes without saying that your first step to earning an income on TikTok is to sign up. Follow these steps to create an account; it takes five minutes.
Sell products on TikTok
If you’re a business owner and have a large following on TikTok, this is your easiest bet to becoming a top-paid TikTok creator. Create content around your product and watch your revenue increase. For example, if you create recipe videos and highlight the products you use, Maggi can pay you to use their product in your videos if you know what you’re doing.
Are you even Nigerian if giveaways don’t excite you? TikTok allows users to participate in live giveaways, and you can earn an average of $1–3 per giveaway.
To make money online in Nigeria this way, you need to have at least a thousand subscribers, which grants you access to the stream feature. TikTok allows followers to appreciate you by sending virtual gifts. The virtual gifts are icons that represent a different dollar amount. You can proceed to trade your virtual icons for virtual diamonds. The virtual diamonds are what you need to collect real money via platforms like PayPal.
Some tips to note:
- Spend some time on your live sessions: The longer you stay, the higher the chances of more people joining and giving you that schmoney.
- Do it at the right time: Study your audience and know when they’re most active., Figure out if they’re nightcrawlers or morning people. This means you’re either going live first thing in the morning or late at night when the normal people are asleep.
Don’t sleep on affiliate marketing if you want to make money on TikTok in Nigeria. If you don’t have a sizable following (1k-5k), it might be best to wait it out while you work on increasing your organic traffic.
With affiliate marketing, you’re advertising products/services online via links, and it’s a win-win situation if you’re able to convert your followers to customers.
Depending on the terms, you can be compensated with as much as $5 for every sale you close. Now, let’s imagine a scenario where you get $5 each from a thousand paying followers. Do the maths dear.
Offer advertising services
With a huge following on TikTok, you are sitting on a potential money-minting machine. First, gather your analytics as this will help you charge your actual worth from brands.
Once you have the numbers at hand, seek out businesses looking to sell their market and offer advertising services. Since it’s a paid ad, you’ll be using your video to promote their products and services.
P.S: You have to put on your negotiating cap to make a killing here.
TikTok creator fund
The Creators Fund is TikTok’s way of telling creators on the platform: we see you and we appreciate you. The catch? It’s appreciation that comes with funds.
This method of earning money on TikTok is handy for users who create instructional material or live streaming. The creator also has the option of going with either of two monthly programmes: “Informative Content” and “Live Broadcasts.”
To earn money this way, it’s important for content creators to apply and meet up with requirements within a month.
Some key requirements:
- Be at least 18 years old,
- Post original content that adheres to the site’s guidelines,
- Publish at least three videos in the past month, and
- Get an average of 10,000 views per video.
P.S: The TikTok Creator Fund is not available for creators in Nigeria.
TikTok Creator Marketplace
Think of the creator marketplace as where creators close big deals. So, you definitely want to be here if you’d like to make money on TikTok in Nigeria.
It’s the official platform for brands and creators to partner on projects. Here, brands are able to choose from a pool of creators that align with their campaign needs.
The marketplace can be likened to an influencer agency where brands can easily choose who they want to collaborate with.
No specific requirements by TikTok but you want to keep the following in mind:
- You are over the age of 18
- You have an account with more than 10 thousand subscribers;
- You’ve released at least three videos and got one hundred thousand likes in the preceding 28 days.
Join hashtag challenge
TikTok is the gift that keeps giving because what other social network lets you make money from using hashtags? Hashtag challenges are organised by the network itself or sponsors, and it gives users an opportunity to earn extra money.
Popular vloggers are contracted to promote the hashtag and they get paid for their services. It’s important to note that TikTok’s advertising department is the only entity authorised to organise an official hashtag challenge and the budget runs into several millions of dollars.
However, brands can also approach creators on the platform to promote a hashtag at a fee.
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