Have you ever wondered how to make money on TikTok? It may seem unbelievable, but some TikTok creators are using the platform to earn five, six and even seven figure income. Most of them also use multiple sources of income to do so.
TikTok’s goal is to enable people to easily create short-form videos with their smartphones, giving every user the power to be a content creator. But have you thought about how to make money on TikTok? That’s right, why not use this popular platform to our advantage by learning how to monetize our content?
Content monetization is a way to take advantage of videos so that when they are viewed by the audience, you benefit by earning money on TikTok. You may receive payments from audience members themselves or from a third party that markets products through your content. With over a billion monthly active users on TikTok, it is possible to make money using this platform in creative ways.
TikTok is a unique platform because there is more than one way to make money from it. It is a viable way to make money online. Below are the five easiest ways to get paid on TikTok.
How much money can you earn on TikTok?
There are different factors that influence the earnings of TikTok content creators, for example, the nationality of the TikToker and the location of their followers. Many claim that TikToks with less than 10,000 followers will not generate much revenue, while those with more than 100,000 will certainly get the most out of the platform. For TikTokers with a large following, reports say they could earn between $200 and $5,000 per month. Of course, this number depends on the size of your followers.
London-based economist Tom Hartmann estimated in a Medium article that TikTokers with 100,000 followers earn between $500 and $2,000 per sponsored video. Seeing as sponsored videos are just one way to make money on TikTok, it begs the question of whether we’ll ever be able to truly quantify TikTok’s earning potential. Calculating an absolute amount is made even more difficult by the fact that many of the top TikTokers do not publish their earnings.
While there is a slim chance of matching Addison Rae’s TikTok salary of $5 million per year as reported by Forbes, with the right strategy, you can make a decent profit on your TikTok content.
Know the 3 ways to create followers on TikTok
While shooting a short 15-second video is not a difficult task, TikTokers need a lot of creativity to create content that stands out from the competition and builds a following. Fortunately, there are several ways that content creators can follow to become a successful TikToker.
Develop your brand
Whether you’re an individual content creator or a small business, it’s important to have a cohesive brand strategy, which means your brand must be incorporated into every element of your business, including TikTok.
You need to have a solid understanding of what kind of videos you’ll be posting, and once you do, be consistent. To hone your personal brand and content style, ask yourself these three questions: Who are you? What is your job? Who is your audience?
Create content your audience wants to see
Your success is only as good as your content, and creating good content takes work. Your TikTok content should be unique, fresh, interesting, and relevant to your targeted audience. This can mean posting several new videos every day. To create compelling content that sells, focus on these three things: Capture your user’s attention, engage your audience with emotion, and vary your video content while staying true to your brand.
This is without a doubt the most important step of the three, and it comes from executing Step 1 and Step 2. It is estimated that before you can really start making money on TikTok, you need at least 10,000 followers, especially if you want that they pay you
Just like understanding your target market’s consumer behavior, you need to understand what your target market wants to see on TikTok and share content with them on a daily basis.
Know the 7 strategies to earn money on TikTok
After you achieve a large number of followers, you can start making money on TikTok. Below are 5 strategies that will help you start earning income:
His name is TikTok Creator next
Creator Next is a program developed by TikTok to support content creators to monetize as their community grows. If you qualify to join Creator Next , you’ll gain access to features and tools to help you grow on TikTok. Monetization features in Creator Next include: Creator Fund, Creator Marketplace, Video Gifts, LIVE Gifts, and Tips.
Please note that business accounts are not eligible for Creator Next, which makes the program better for individual creators. There are also certain criteria that must be met to apply for the program:
- You have to be located where Creator Next is currently available.
- You must be at least 18 years old (or 19 in South Korea and 20 in Japan).
- You must have a minimum number of followers and video views (usually at least 10,000 followers and 100,000 views).
- You must have posted a minimum of three times on TikTok in the last 30 days.
- Your account must be in good standing with TikTok’s guidelines.
Live broadcasts on TikTok
Another way that can help you earn money on TikTok is by live streaming on the platform. With the LIVE Gifts feature available exclusively through the Creator Next program, your audience can show their support for your content directly.
The principle of the LIVE Gifts feature is simple: TikTok users can buy “coins” with real money through in-app purchases. These coins can be used to send TikTok creators gifts, in essence giving them a small amount of real money as a “thank you” for creating great content.
TikTok charges a commission and will pass you 50% of what you earn. While this is often not a huge amount of money, it is still something! Making live videos will also help build your account and signal to brands that your influence is growing.
Associate with an Influencer
Perfect for small or large established businesses, partnering with an influencer is a great way to increase your brand’s presence on TikTok. Before reaching out to an influencer to work with, make sure their content aligns with your brand.
Partner with a trusted brand
Once you’ve found your niche and set a goal of what type of content, products, or business you want to create, start reaching out to a few brands you’d like to be associated with. Better yet, they can be the ones to contact you first.
This can happen once brands start to notice your platform and can see the type of engagement you’re getting from your followers. At this point, you’ll want to figure out how to monetize your TikTok views.
Many TikTokers find brand endorsements to be one of the most lucrative ways to earn money on TikTok. With sponsored content, you’ll have an agreement with a brand to help promote their products and recommend them to your followers. Just remember to be upfront with your audience about your paid endorsements.
Add affiliate links to your profile
By adding affiliate links to your TikTok profile, you can earn a commission, a flat fee, or a percentage of sales every time someone clicks on your links.
An affiliate relationship is very similar to a sponsorship: you will promote a brand’s product or service and provide a link to the brand’s website to purchase it. Sometimes the business you partner with can even create a unique promo code for your followers.
Here’s a little tip: Since you can only have one link included in your TikTok bio, you can use Linktree or similar platforms to catalog all your links, including your affiliate links and your other social profiles.
Discover sponsors on the TikTok Creator Marketplace
TikTok Creator Marketplace is the official platform for brand and creator collaborations. Like other TikTok monetization methods, you will need to meet certain eligibility requirements to access this feature. Successful applicants will be able to connect with brands for potential partnerships. This is an easy way to connect with different brands and find opportunities by learning how to make money on TikTok.
Business partners can currently reach over 500,000 creators in 24 countries and regions on the TikTok Creator Marketplace. TikTok creators can receive invitations from business partners in the app and can choose which collaboration opportunities to pursue. Please note that contracts and payments differ between brands and campaigns.
Advertise your products on TikTok
If you are a creator who has launched a business selling products, whether physical or digital, consider running ads on TikTok.
As with most social media platforms, TikTok has an ad manager that offers business owners the opportunity to expand their reach among customers and viewers. By promoting your brand with TikTok for Business, you can increase product sales and increase website traffic. This can be done through the use of in-feed video ads, branded hashtags, branded takeovers, and branded effects like filters.
While video ads can help you reach a large audience quickly, just keep in mind that TikTok ads can be more expensive compared to other platforms that offer banner ads.
Ads can range from $10 per 1,000 views, and TikTok requires a minimum spend of $500 on a campaign. Due to the higher cost, creators with small businesses may want to use other channels for advertising.