Poised to claim the throne of short-form video content, TikTok is a force to be reckoned with. In the q3 of 2023 alone, the platform raked almost $680 million in global user revenue.
With a large chunk of Gen Z relying on TikTok as their primary source for the latest in culture, fashion, politics, and more, understanding how to make money on TikTok can be unexpectedly rewarding.
So, are you ready to convert your video editing prowess, camera skills, and creativity into cash? With TikTok’s massive user base, the potential is enormous.
Stay with us as we discuss tips and tricks on how to leverage TikTok to earn money, equipping you with all the relevant information you need in this blog.
How to Make Money on TikTok: 10 Proven Ways
Making money on TikTok becomes easier when you clearly understand your target audience and your content creation capabilities. Instead of sticking to a single method, you might want to maintain a few complementary income streams.
Let us take a quick look at some of the most common yet effective ways to make money on TikTok.
1. Join The TikTok Creator Fund
Introduced in July 2020, the TikTok Creator Fund is more than just a financial incentive; it’s a commitment by TikTok to recognize and reward the creative genius of its users. This $1 billion initiative is not just about monetary compensation but about fostering a community where creators can turn their passion into a profession.
Here’s how it can help you make money on TikTok:
- Consistent Revenue Stream: Once eligible, creators can earn a steady income based on their content’s performance. This means the better your content resonates with the audience, the higher your earnings.
- Encourages Quality Content: The fund acts as a motivation for creators to produce high-quality, engaging content. Knowing that there’s a potential financial reward can push creators to up their game.
- Recognition and Credibility: Being a part of the Creator Fund can also boost a creator’s credibility. It’s a nod from TikTok that recognizes your content as valuable, which can attract more followers and potential brand collaborations.
- Supports Long-Term Goals: For many, TikTok is not just a platform for short-term virality but a long-term career. The Creator Fund can be a stepping stone for creators who aspire to make content creation their full-time job.
The eligibility criteria?
To tap into this opportunity, creators need to be at least 18 years old, reside in specific countries like the US, UK, France, Germany, Spain, or Italy, and have a strong follower base with a minimum of 10,000 followers and 100,000 video views in the preceding 30 days.
Victory Rhyder, a former creative director, decided to give TikTok a shot during the pandemic, and soon, he was earning an average of $2.89 per day through the TikTok Creator Fund. Another TikTok creator, Kyd Mike, reported earning around $23.97 per day from the same fund.
2. Sponsored Posts and Brand Partnerships
Sponsored content on TikTok offers creators a lucrative avenue for monetization. With over 1 billion monthly active users, brands are keen to tap into TikTok’s vast audience.
In fact:
The platform’s Creator Marketplace connects brands with eligible creators, who must have at least 100,000 verified followers and 100,000 video views in the past 30 days.
Authenticity is crucial; Gen-Z audiences value genuine interactions, making TikTok an attractive platform for brands. Earnings vary based on followers and engagement. While an average creator might earn $500-$1000 per sponsored post, top influencers can command up to $90,000 for a single post.
Ultimately, follower count, engagement, and content quality dictate sponsorship earnings.
Alex Ojeda, a TikTok influencer known for his waterpark videos, charges a whopping $20,000 for a single sponsored post.
3. Affiliate Marketing
Affiliate marketing is a strategic avenue for TikTok influencers to monetize their content. By promoting products or services, influencers earn commissions for every purchase made through their unique affiliate links. TikTok’s vast and engaged user base, predominantly Gen Z and Millennials, makes it a hotspot for affiliate promotions.
How do you do it?
- Embed Affiliate Links in Bio: Direct followers to products using clickable links in your profile.
- Organic Promotion: Integrate product mentions subtly in videos, ensuring they resonate with the content and audience.
- Utilize Tools: Platforms like Koji enhance affiliate efforts, offering customizable templates for bio links.
- Audience Alignment: Promote products that align with your followers’ interests, maximizing conversion chances.
Vi Lai is a TikTok influencer who talks about skin care. Her affiliate links on the platform enable her to make over $5000 per month.
4. Sell Merch To Your Followers
Here’s a thought:
Your followers love your content, so why wouldn’t they love merchandise inspired by it?
From custom t-shirts and hoodies to quirky accessories, selling branded merch can be a fantastic way to monetize your TikTok presence.
Take the case of TikTok creator and illustrator Julia Roblin. She initially began selling merch by creating stickers with her artwork. However, due to the overwhelming demand from her audience, she quickly expanded her offerings to include apparel.
Julia’s experience showcases the potential of merchandising on TikTok. When your fans wear your merchandise, it not only becomes a source of revenue but also serves as free advertising for your brand.
Every time a fan sports your merch, it’s free advertising for your brand. So, get creative, design some cool products, and let your followers flaunt their loyalty!
5. Offering Consulting or Coaching Services
If you are sufficiently skilled in a particular domain, you can make money on TikTok by offering consulting or coaching services to your followers. You’d be surprised to know how many people happily pay for personalized advice and mentorship.
TikTok creator Jen Ruiz uses TikTok to share tips, insights, and more on working remotely. Many have benefitted from her informative and helpful content. Now, she makes additional money by leveraging the personal brand she has created and offers one-on-one consultations.
6. Live Streaming and Receiving Virtual Gifts
Live streaming on TikTok is an effective way of making extra money with little effort. In addition to that, it also brings more attention to your profile. TikTok Live allows viewers to send their favorite creators virtual gifts, and these gifts can be redeemed further for Diamonds.
Jakey Boehm is a popular TikTok influencer who live streams as he sleeps (yes, you read that right!). Reportedly, he earned almost $34,000 from TikTok Live in one month!
From selling affiliate links to live streaming while sleeping, there are clearly a number of ways to make money on this platform.
7. Offer Premium Paid Content
Ever thought about taking your content to the next level?
Well, here’s the thing: Your followers might be willing to pay for exclusive, premium content.
How?
Dive deep into niche topics, offer advanced tutorials, or share behind-the-scenes looks that aren’t available to your regular audience. By setting up a subscription model or one-time payment gateway, you can monetize this exclusive content.
And guess what?
This not only boosts your income but also solidifies your bond with your most loyal followers.
So, why not give it a shot?
8. Use TikTok Ads to Generate Traffic
While TikTok is primarily a platform for content creators, it’s also a goldmine for advertisers.
How?
By investing in TikTok ads, you can drive traffic to your website, online store, or other social media profiles. The platform’s advanced targeting options ensure your ads reach the right audience, maximizing conversions.
A testament to this is the renowned brand Levi’s. They harnessed the power of TikTok Ads and witnessed a significant surge in their product views. Specifically, by leveraging TikTok’s “Shop Now” button, Levi’s more than doubled the views for every product showcased, proving the efficacy of well-targeted TikTok advertisem*nts.
Interesting, isn’t it?
Plus, with engaging video content, your ads can seamlessly blend in, making promotions feel less intrusive and more organic.
9. Send Followers to a Patreon Account
TikTok is an excellent platform to gain visibility, but monetizing that visibility can be more effective on platforms like Patreon.
Why?
Patreon allows creators to offer exclusive content to their dedicated fans in exchange for a monthly subscription. This model provides a more consistent income stream compared to the fluctuating ad revenues on platforms like TikTok.
For instance, creators like Christine McConnell, known for her vintage goth, baking, and craft content, have successfully leveraged Patreon. She has garnered a significant following, with earnings estimated between $17K to $127K per month.
By directing TikTok followers to Patreon, creators can offer value-added content, from behind-the-scenes looks to specialized tutorials, ensuring a more stable financial support system. This strategy not only monetizes their content but also deepens the bond with their audience, turning casual viewers into dedicated patrons.
10. Create UGC Content for Brands
Wait, there’s more!
User-generated content (UGC) is all the rage these days. Brands are on the lookout for authentic content that resonates with their audience.
When you collaborate with brands to create UGC, you offer a genuine perspective on products or services, making promotions feel more relatable.
Furthermore,
Not only do you get paid for creating content, but you also strengthen your relationship with brands, opening doors for future collaborations.
It’s a win-win!
So, we know the different ways to make money on TikTok. However, we are certain you have some questions on your mind that need answers.
Let’s get to it.
How Many Followers Do You Need To Make Money on TikTok?
You might be pleasantly surprised to learn that there’s no set follower count you need to hit to start earning money on TikTok.
If there’s a number you should focus on when contemplating how to make money on TikTok, it’s the engagement rate. Even if your follower count is just a few hundred followers, a good engagement rate can help you make money on the platform through affiliate marketing.
However, if it’s the TikTok Creator Fund that you’re looking to benefit from, you’ll need at least 10,000 followers. And if your preferred way of making money on TikTok is converting virtual gifts into Diamonds, you’re good to go even with a mere 1,000 followers.
But here’s the real kicker: sponsorship deals and brand collaborations.
Brands want to see that you can deliver a level of viewership that’s hard to achieve elsewhere. If you’ve managed to build a big enough community that sticks around and engages with your content, nobody can keep you from sealing a deal with your dream brand. Anywhere between 10,000 to 100,000 followers is a good enough number for this to work.
And this brings us to the most important question. On average…
How Much Money Can You Make From TikTok?
If you’re planning to make money on TikTok views, you’ll be disappointed because you cannot make money by running ads on your videos. However, it must be noted that there’s still immense potential in the platform, thanks to the massive number of eyeballs the sponsors enjoy.
Here’s a table that summarizes the average earnings on TikTok based on the number of followers:
5 Helpful Tips to Make Money on TikTok
Here are some tips you may find helpful if you’re looking to make some money on TikTok.
1. Cross-Promote on Other Platforms
Cross-promotion is a strategy where you promote your TikTok content on other social media platforms. This can help you reach a larger audience and attract more followers to your TikTok account.
For instance, you can share your TikTok videos on Instagram, Facebook, or Twitter to drive traffic to your TikTok account. You can also use these platforms to promote your brand collaborations, affiliate links, or any products or services you’re selling.
To streamline this process, consider using SocialPilot’s unified dashboard. It allows you to effortlessly cross-promote your TikTok videos across major channels, ensuring consistent messaging and maximizing reach. With SocialPilot, you can centralize your social media efforts, making cross-promotion both efficient and effective.
2. Collaborate With Brands
Collaborating with brands is a lucrative way to make money on TikTok. Brands are always on the lookout for influencers who can help them reach a wider audience.
If you have a substantial following, brands may approach you for collaborations. However, don’t just wait for brands to come to you. Be proactive and reach out to brands that align with your content and audience. When pitching to brands, highlight your engagement rate, follower demographics, and how your content aligns with their brand image.
3. Utilize TikTok Features
TikTok offers a host of features that can be leveraged for monetization. The TikTok Creator Fund rewards creators for their content, while TikTok Live allows real-time interaction and the receipt of virtual gifts that can be converted into cash.
Affiliate marketing on TikTok can earn you a commission for every purchase made through your affiliate link. TikTok Ads can help reach a larger audience and boost sales. Lastly, Duet and Stitch features can increase visibility and offer potential monetization opportunities.
Aligning these features with your content strategy and audience preferences is key to effective utilization.
4. Grow an Engaged Following
The first step to making money on TikTok is to grow an engaged following. The key to this is understanding your audience and creating content that resonates with them.
Consistency is also crucial – the more frequently you post, the more likely you are to gain followers. Engage with your audience by responding to comments on your videos and participating in trending challenges. Remember, it’s not just about the number of followers but the quality of your engagement with them.
5. Use Social Media Management Tools
Social media management tools like SocialPilot can be incredibly useful for managing your TikTok account.
The tool offers a range of features that can help you stay organized, save time, and optimize your content strategy, making it easier for you to monetize your TikTok account.
How does it do that?
- Direct TikTok Publishing: With SocialPilot’s TikTok scheduler, you can create, schedule, and directly publish your videos. This eliminates the need for app reminders, allowing your content to go live at the specified time without any hitches.
Want to see how easy publishing on TikTok with SocialPilot is? Check out this video below.
