With more than 3 billion downloads and 50 million active users every day as of 2023, TikTok is the sixth most popular social media app globally. It’s a large market.
Thus, it should come as no surprise that a large number of people have already discovered ways to make money on TikTok; some even view it as a full-time career.
Get Up to $100,000 Student Loan for Your Master in US or Canada - See if you are eligible
But before you start making money from TikTok, you should do some homework, regardless of whether you want to dive right in or try your hand at a new side project. And you’re in the proper location.
For the best tips on how to start earning money on TikTok, continue reading.
Table of Contents
10 ways to make money on TikTok
1. Sign up for “TikTok Creator Next”.
Users of TikTok can access all of the app’s monetization tools through Creator Next.
TikTok states that its goal with TikTok Creator Next is to assist creators in making money on the platform as their communities expand and thrive. You can use the resources and tools available to you when you sign up for TikTok Creator Next to develop your passions and creativity into something more, whether it’s a side gig or a company.
To be eligible to join TikTok Creator Next, you must fulfill the following requirements:
- Be at least eighteen.
- Have three or more videos uploaded within the last thirty days?
- Possess at least 1,000 video views within the previous 30 days.
- Fulfill the minimum number of followers required in your area.
- You must live in Germany, France, Italy, Spain, the United States, or the United Kingdom.
- Business accounts are not permitted!
Note that you can use several different monetization features with TikTok Creator Next, but each has a different eligibility requirement.
2. Work with a reputable brand.
On TikTok, content that you receive something of value in exchange for is referred to as sponsored content. Isn’t that the aim? For instance, a company can offer you money to create a TikTok video showcasing how wonderful their soy candles smell, or you might be given a complimentary skydiving experience in return for blogging about it.
However, you are under no obligation to accept an opportunity that a brand presents to you. It can be a mistake to work with organizations whose values conflict with your own, even if the payoff looks good. You have a distinct style of audience engagement. Your followers are interested in your ethics as much as in your inspirational content or makeup skills.
3. Sell products directly through TikTok
TikTok Shop gives brands the option to incorporate e-commerce straight into the app; it functions similarly to a small online store.
To sell goods via their platforms, brands can also work with creators. Via the product showcase page, TikTok Live, and your TikTok videos, you may market and sell your products.
If you are a seller, you have to be based in Indonesia, Hong Kong, the Chinese mainland, or the United Kingdom. Additionally, you must be able to substantiate it with your identity, a business certificate of incorporation, and a phone number from that area.
It is required that your account be in good standing if you are a creator. Additionally, you must:
- You must have more than 1,000 followers.
- You must have had more than fifty videos viewed in the previous twenty-eight days.
- You should be more than possess the age of eighteen
- You must have had a video uploaded to TikTok within the previous 28 days.
Read Also:
4. Make money through affiliate programs.
To sell anything on TikTok, you don’t have to create your merchandise. To get a cut in sales, all you need to do is utilize affiliate marketing links.
Some TikTok creators have links in their bios that lead to an Amazon store to sell items for which they will receive commissions. It will be simple for your followers to click and shop, and you will receive a portion of any purchases made using that link.
5. Create promotional videos for your product or service.
The easiest way to make money if you already have a product is to develop TikTok videos that highlight your goods and services and what makes them special.
Additionally, ensure that your bio contains a link to your website.
6. Use TikTok ads to drive traffic.
Spending money is sometimes necessary to make money.
Sometimes organic views are insufficient, whether your goal is to increase your TikTok following or direct visitors from TikTok to your e-commerce website. With features like in-feed advertisements and branded hashtag challenges, TikTok’s advertising platform is becoming more and more feature-rich every year.
Read Also: Do’s and Don’ts of personal branding on Social Media
7. Offer premium-paid content.
The allure of TikTok is that anyone can spend hours every day engrossed in it for free. However, a highly popular content creator might just be able to persuade their fans to shell out money for a VIP experience.
Many TikTokers provide premium material that may be purchased outside of the app, as on Patreon. You may get a taste of what premium subscribers can expect from the TikTok videos. Over time, it can build up even if a small portion of your audience is prepared to shell out a few more dollars for special podcasts reserved for supporters or monthly movies that are only available to them.
Take into account paid material such as special monthly video series accessible only to subscribers, access to an exclusive community Discord channel, or exclusive live chats.
Naturally, the paid content has to be worthwhile; otherwise, you risk losing subscribers more quickly than gaining them.
8. Collect gifts from your viewers.
Giving creators gifts is one way that viewers may express their gratitude. Though it may seem complicated at first, bear with us since, in the end, you receive cash for your followers’ presents.
1. TikTok users buy “coins” from the platform, which they can then exchange for virtual gifts.
2. Users have the option to “gift” a live stream or video they find particularly great to the artist. (However, presents will only be sent to creators who have enrolled in TikTok Creator Next access.)
3. After those “gifts” are transformed into “diamonds,” a creator can exchange them for real, tangible money if they have amassed a sufficient number of “diamonds.”
Note that one diamond is worth two coins, and two coins are worth… $0.05. Thus, the only way gifts can truly function as a profit opportunity is if they are given to a large and giving audience.
9. Collect Tips
Assuming, of course, that you reside in an area where tips are accessible, you will be able to access the tips feature if you have chosen to use TikTok Creator Next.
You must first set up your Stripe account since tips are linked to it. Once you’ve activated TikTok Tips, a Tips button will be visible to your audience. They can hit the button to send you a specific tip amount or a predetermined amount if they enjoy what you’re doing.
10. Refer your friends.
You may make money on TikTok by diving into the TikTok Rewards referral network.
Copy your special referral link from your profile and send it to your friends and acquaintances. Your friends will earn you reward points that you can eventually redeem if they sign up and use TikTok. More about eligibility here.
In addition, TikTok users can earn TikTok Rewards by taking part in events and watching videos that are listed on the Activities Page.
How much do TikTokers make in 2024?
As was already mentioned, there are numerous methods to profit from TikTok, and your revenue will depend on how you choose to monetarily support your content.
On TikTok, brand deals can earn you up to $100,000. Yes, you can use the money you make from a single video to purchase a luxury car if you’re a well-known enough artist on the platform with a sizable and active following.
You can get paid between two and four cents through the TikTok Creator Fund for every 1,000 views. This implies that if you get a million views, you could anticipate $20 to $40.
Read Also:
- 10 Entrepreneurs Changing the Face of Education in Africa
- 10 Ways To Make Money Remotely After A Pandemic
- 10 Ways a Developer Can Make Money Remotely During a Pandemic
