In recent years, TikTok has become one of the primary places to be for content creators who want to create visually appealing content and make money out of it. To facilitate this, TikTok often launches new initiatives geared towards content creators.
The Creative Challenge Initiative is the latest in a long list of monetization features by TikTok. This one aims to bring brands and content creators together, giving them the opportunity to potentially collaborate. Let’s find out just what this challenge is and how you can participate in it!
What is TikTok’s New Creative Challenge initiative?
Source: TikTok Newsroom.
Brands will post challenges along with a list of rules and regulations and a prize pool. Creators can browse through these challenges, pick the ones that catch their fancy, and take part by submitting a video ad.
Once creators submit their entry, brands will review them and approve the ads if it aligns with their vision. If the entry is approved, it will run as a TikTok ad on the app’s “for you” page. Creators will be able to see the status of their submissions, how the video ad is performing, and their monthly earnings for the same.
It is very similar to another of TikTok’s initiatives in the creator economy: the Open Application process. This former initiative enabled brands to post upcoming campaign details within the Creator Marketplace. Interested creators could then send their pitches to brands directly within the app. However, it must be noted that, compared to the Open Application process, the Creative Challenge is available to more number of people.
How Does The Creative Challenge Work?
TikTok’s new Creative Challenge is basically an initiative where people are encouraged to create user-generated content – except, the creators have the opportunity to get paid.
Users who want to participate in the challenge should sign up for it inside TikTok. Once they sign up, they will have access to the list of brand challenges available. Once they choose the challenges they like, creators must submit a video ad that is original, high-quality, and edited well.
Users have full freedom to unleash their creativity as long as their content meets all the rules and regulations specified by the brand. There are also no restrictions on the number of challenges you can participate in!
Under each challenge, brands will be able to choose up to 30 different ads. They have the opportunity to request the creators for further revisions or modifications on their entry. This is great because it allows brands to tailor the content according to their goals while also allowing users freedom when creating.
After approval, these ads will not be visible on the creator’s TikTok page, and neither is there a requirement for creators to post them. They are purely to be used by the brands to run ads on TikTok. This news comes as a breath of fresh air for content creators who don’t want to clutter up their feed.
Users who join the Creative Challenge program will have access to a large pool of resources aimed at helping them create better content. This includes being part of a dedicated Creator Community group as well as a Mentor Program where creators will be able to connect with veterans in the industry and learn from them.
How Much Does The Creative Challenge Pay Creators?
If a user’s video ad is selected, they will receive a portion of the revenue generated from the ads for up to 6 months. The actual amount that creators will receive varies from challenge to challenge and is dependent on several factors:
- Qualified ad views
Even though the exact amount is not known, way back in April, influencer marketing expert Lia Haberman revealed in her ICYMI newsletter that TikTok had been running this program for far longer in secret as an invite-only initiative. She let slip that during this beta phase, creators who won were earning as much as $34,000 per month, enabling them to “buy houses from the money they were making.”
Haberman also mentioned that there is the potential for bonus payments if the ads reached certain performance milestones. These bonuses could range anywhere from between $200 to even $6,000! So rest assured, things look very promising if your video ad gets selected.
Who is Eligible for The Creative Challenge?
The new feature is still in its testing phase, so TikTok currently has some restrictions on who is eligible to participate.
Creators who wish to submit their ad videos:
- Must at least be 18 years old
- Must have a U.S.-based TikTok account
- Must have a minimum of 50,000 followers on TikTok
- Must abide by TikTok’s Community Guidelines when submitting a video entry
This eliminates all minors and non-U.S. users by default, but we are hopeful that the app will soon roll out this feature for other countries as well.
How Does The Creative Challenge Benefit Content Creators and Brands?
TikTok’s Creative Challenge initiative is a win-win situation for both content creators as well as brands.
For starters, it allows creators to put their best foot forward and earn good money for their efforts. It also gives them the opportunity to connect with brands without spending any time or money. If the challenge goes well, creators might even be able to sign long-term partnerships with the brand.
If a user’s ad ends up getting a lot of engagement, this would boost their TikTok profile as well in terms of engagement and followers, paving the way for other potential brand collaborations. In short, it helps creators get noticed and earn additional income in the process.
As for brands, this challenge allows them to connect with content creators who have a lot of knowledge in their niche and create high-quality content. And they get to do all this without spending a ton of money and time searching for niche-specific influencers.
The video entries they receive would also be geared towards a TikTok audience specifically since the creators already understand their community. This is especially useful for brands who are new to TikTok and might need a helping hand. Moreover, they get to have their pick among different entries, which is ideal for selecting an ad that most aligns with their brand values and message.
This initiative is also an excellent opportunity for brands to get more engagement. Why? Because followers will be eager to learn about the brands their faves are collaborating with. At least a percentage of these new visitors are bound to turn into customers since they already have the seal of approval from their favorite content creators.