Despite only hitting the international scene in 2017, TikTok has quickly become a trendsetter in culture, politics, and fashion. The platform’s exponential growth is anticipated to reach two billion users by 2024, making it a powerhouse, particularly among the Gen Z demographic. For entrepreneurs, this presents a significant marketing potential with questions such as “how do I make money on Tiktok”.
To tap into TikTok’s vast user base and build your audience, let’s explore the strategies employed by top creators and marketers on the platform.
Ready? Then, let’s get started
8 Ways to Make Money on Tiktok
Here are eight ways through which you can make money on Tiktok:
#1 Tiktok Creativity Program
Monetizing TikTok offers creators and businesses a plethora of opportunities to turn their engaging content into revenue streams. One avenue is the TikTok Creativity Program, introduced in 2023. Eligible creators with a minimum of 10,000 followers and 100,000 authentic video views within the last 30 days can participate. This program, still in beta as of May 2023, replaces the TikTok Creator Fund. Enrolled creators, who must be at least 18 years old, gain access to potential earnings based on the engagement of their content. This program demonstrates TikTok’s commitment to supporting and rewarding its creative community.
#2 Sell Merch on Tiktok
Another lucrative option is to sell merchandise directly on TikTok. Creators, be they dancers, singers, or comedians, can leverage their popularity to design and sell merchandise to their dedicated fan base. Utilizing print-on-demand services, creators can offer an array of products such as t-shirts, tote bags, mugs, and stickers. Beyond generating revenue, selling branded merchandise enhances the creator’s brand identity and fosters a deeper connection with fans. This strategy is exemplified by creators like Charli D’Amelio, who has successfully launched her own merchandise line.
#3 TikTok’s LIVE Gifting
This feature opens up another avenue for monetization through real-time engagement. Creators can host live streams, and viewers have the option to send virtual gifts that can be converted into real earnings. This feature not only provides a direct means of monetization but also strengthens the bond between creators and their audience. The success story of Dasha Derkach, founder of Enchanted Scrunch, underscores the potential of TikTok LIVE. After shifting her marketing efforts from Instagram to TikTok and incorporating regular LIVE sessions, Derkach witnessed a significant increase in sales, showcasing the effectiveness of this monetization strategy.
#4 Affiliate Partnerships
TikTok’s Creator Marketplace provides a unique avenue for creators to collaborate with brands through affiliate partnerships. This platform streamlines the process, allowing brands to connect with influencers effortlessly. Creators can showcase products in their content and earn commissions for every sale generated through their unique affiliate link. The marketplace acts as an influencer agency, facilitating smooth collaborations and making affiliate marketing more accessible.
#5 Create In-Feed Ads
For those willing to invest in expanding their reach, creating in-feed ads using TikTok Ads Manager is a powerful strategy. These ads appear in users’ “For You” feeds, auto-playing like regular TikTok videos. With paid ads, creators can ensure their content reaches audiences genuinely interested in their products or services. TikTok’s ad manager seamlessly integrates with Shopify, allowing creators to manage ads, target specific audiences, and track performance—all from their Shopify store.
#6 Crowdfund Projects
Crowdfunding provides a direct way for creators to receive support from their audience. By setting up a funding goal and hosting live fundraising events, creators can rally their followers around specific projects. Whether it’s launching a new product, funding a creative endeavor, or supporting a cause, TikTok’s engaged community can contribute to the success of these projects.
#7 Collect Tips
TikTok offers a feature for creators to collect tips directly from their audience. Viewers who appreciate the content can show their support by making small, optional donations. TikTok’s native tipping feature provides a convenient way for fans to express their appreciation and for creators to receive direct financial support.
#8 Patreon Subscriptions
For creators seeking a more regular and sustainable income, platforms like Patreon offer a subscription-based model. Creators can set up different membership tiers, each offering exclusive content to subscribers. This model allows creators to maintain a steady income stream while providing dedicated fans with unique and premium content. Patreon’s popularity and brand recognition make it a trusted platform for creators looking to establish a more consistent revenue source.
#9 Offer Exclusive Content
Starting in June 2023, TikTok rolled out a cool new way for creators to make money called TikTok Series. It’s like a VIP section where creators can share exclusive content that their fans can access by paying a small fee. But, of course, there are some requirements to join this exclusive club:
Age and Account: You’ve got to be at least 18 years old, and your TikTok account needs to be around for at least 30 days.
Followers: You should have a fan base of at least 10,000 followers.
Stay Active: Keep the content train rolling by posting at least three public videos in the last month. Oh, and those videos should have scored at least 1,000 views.
Now, if you’re not quite at the 10,000 followers mark, there’s still hope. You can apply if you share a link to premium content you’ve successfully sold on other platforms.
Once you’re in, the TikTok Series feature lets you create up to 80 videos, each up to 20 minutes long. It’s a fantastic way to share some in-depth knowledge or entertaining stuff with your fans, and you get to set the price. The cool part? People can pay anywhere from $0.99 to $189.99 to access your exclusive content. So, it’s a win-win for creators and their fans.
#10 Offer Personalised Shoutout
If you’ve got a decent TikTok following, here’s another cool idea to make some extra cash – offer personalized shoutouts. See, other TikTok users who are looking to amp up their own game might be willing to pay for a shoutout from someone like you. Just set a price that feels right for you, and shout them out during a live video or one of your regular posts.
Now, pricing can be a bit tricky. If you’re not getting much interest, maybe lower the price a bit. But if you’re getting lots of folks interested, you could even think about increasing your price a bit – you know, the rule of supply and demand.
You can get creative with it too. Maybe offer different shoutout options – live videos could be one price, and regular posts could be another. This way, users can pick what works best for them.
#11 Team up with a creator for collaboration
Ready to team up with a content creator? According to Statista, 44 percent of respondents from small and medium-sized enterprises (SMEs) said they cooperated on feed posts with TikTok creators. TikTok is where it’s at, with a bunch of creators who’ve got some serious love from their communities.
Now, here’s the pro tip: when you’re picking collaborators, go for the ones who can genuinely vibe with your brand. Turns out, content made by these creators for brands scores a whopping 83% higher engagement rate. So, it’s not just about the numbers; it’s about finding creators who can authentically introduce your brand to their audience.
How to make money on Tik Tok FAQs
Can I make money on TikTok?
Yes! Anyone can make money on TikTok with the right tools and an effective strategy. If you’re looking to make money on TikTok, take a look at the tips above and start considering which strategies are best for you.
How do creators make money on TikTok?
The most successful TikTok users make money through a combination of revenue streams that can include sponsorships, fundraising drives, product sales, and accepting tips. TikTok users can also promote products through an affiliate link to get paid directly from brands. Making money on TikTok is also possible for larger accounts through programs like creator funds.
Who is the highest paid TikTok?
Charli D’Amelio tops the list as the highest-paid TikTok influencer of 2022. Forbes has included her twice in a row in their list of the Top 7 Highest Paid TikTok Stars. She started posting dance videos on TikTok in June 2019 which soon went viral.
According to Hopper HQ, these were the highest earners on TikTok in 2022:
Charli D’Amelio, $105,770 per post (147.6 million followers)
Khabane Lame, $92,270 per post (150.2 million followers)
Bella Poarch, $66,829 per post (91.1 million followers)
Addison Rae, $65,194 per post (88.7 million followers)
Will Smith, $53,741 per post (72.1 million followers)
How do you get paid on TikTok?
How you get paid depends on the method you choose to monetize your TikTok content. Usually, you will get paid through whichever app you use for monetization, whether that’s a tipping platform, TikTok’s own Creativity Program (formerly Creator Fund), a crowdfunding site, or your own online store platform (in the case of selling merch or your own products to your fans).
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