TikTok is a highly popular social media app that allows users to create and share short videos with their followers. With a large user base of over one billion active users, TikTok has quickly become one of the most widely used apps globally, particularly among youths.
From lip-syncing to popular songs and showcasing dance moves to creating original content, users can reach a global audience through TikTok.
However, TikTok is not just a platform for socializing; it also offers users an opportunity to earn money. After speaking to popular TikTok influencers and researching the monetization avenues on TikTok, we will explore the various ways you can monetize your TikTok account.
From sponsored posts to selling merchandise, we will cover all the avenues available for turning your TikTok account into a source of income.
Making Money on TikTok
The following are the most effective ways to make money on TikTok, according to an analysis of the techniques used by famous TikTok users:
Join forces with a company or a TikTok influencer
The TikTok Creator Marketplace and the sponsored content program in TikTok for Business connect brands with influencers. And in these collaborations, people other than TikTokers profit as well. Through influencer marketing, businesses partner with people who can reach their target market, resulting in increased traffic (and, eventually, sales) from those customers.
You can collaborate with a brand you like to promote sponsored content if you’re already active on TikTok. Companies frequently give away product samples to TikTokers so they can showcase them to their followers, who make up the target market the brand is trying to reach.
TikTok also has an affiliate marketing program in some nations. However, you can still earn money through affiliate marketing by driving traffic to your external content, such as a blog that you use to promote brands in exchange for commissions.
Another way to monetise on TikTok is through the Creator Fund. The Creators Fund is an excellent way for users who produce educational content or enjoy streaming to start making money on TikTok because it is the official initiative for content creators to monetise their work.
As an author, you can participate in the “Informative Content” and “Live Broadcasts” monthly programs thanks to the TikTok Creators Fund.
It is compulsory to apply and meet all program requirements within one month to receive payment from TikTok through the Creator Funds. For example, they create about 15 videos per month that receive over 2 million views.
TikTok confirms compliance with the initiative’s guidelines, presents the award and approves the author for the following month. The author may reapply if they are unable to meet the requirements.
Users must comply with the following requirements to take part in the content creation program and make money on TikTok:
- Submitting original content which complies with the site’s rules
- Should be at least 18 years old
- Must have published at least three videos in the previous month, with at least 10,000 views on average.
Users must register for the live program, and to register, users must have at least three one-hour live broadcasts in the previous month; users must also be at least 18 years old and, most importantly, adhere to TikTok’s rules when creating original content.
Sell Merchandise to Your Fans.
TikTok is a great platform for selling your products and services because it has a large number of persons using the app. Any artist, whether a dancer, singer, or comedian, can produce and market merch to their most devoted followers.
There is a massive selection of merchandise thanks to the many print-on-demand businesses. T-shirts, tote bags, pillowcases, hats, coffee mugs, stickers, notebooks, or any other combination of goods are all possible for you to sell.
Even beyond profits, selling print-on-demand products has advantages. Every follower wearing your merch helps promote your brand because it gives your fans a more intimate connection to your work.
Six high school seniors created the clothing line Unxpectd as a project for their classes. However, the group’s lives were changed forever when they used TikTok to advertise their hand-making clothes in their parent’s basements.
In December 2020, Unxpectd’s TikTok account had its first viral hit, and within a short period, the number of followers had increased massively. After graduating, the group moved to Los Angeles, where they continue to dye and embroider their own things when they aren’t making new TikTok content.
The fact that Unxpectd rarely uses its TikTok account to advertise its items actively makes it effective. Instead, Unxpectd allows followers to develop a more personal relationship with the brand’s founders by including them in its brand-building process.
You can also try dropshipping, this does not require any form of financial commitment from you, sell the products of others at your own price and have them delivered to your customers.
Run TikTok Ads
Although, this is not a direct way to make money from TikTok, by using the platform to run ads to increase traffic to your website, online store, or even your TikTok Shopping tab, you will be able to reach a wider audience which could increase sales.
As a top-of-funnel tool, TikTok can also be used to encourage users to subscribe to your email list or SMS campaigns.
This is an interesting way to make money on TikTok, there are companies that offer affiliate marketing opportunities that you can leverage. When you participate in affiliate marketing, you get a special link to different products and earn a portion of each sale when a user clicks through and makes a purchase.
Here is how to go about Affiliate Marketing:
- Add an affiliate link to your profile and encourage visitors from organic views to click it.
- Add URLs and coupon codes to the descriptions of your videos. (The link must be copied and pasted into the user’s browser.)
Manage TikTok Accounts
Another way to earn money on the app is to offer TikTok account management services, such as managing influencer campaigns for well-known TikTokers. Many influencers want to expand their TikTok following but need more time or expertise.
However, with management services, users can concentrate on engaging followers while delegating responsibility for the account’s day-to-day management to a third party.
Additionally, you can control influencer campaigns by serving as an intermediary for a TikTok creator and a brand. This can involve negotiating agreements for sponsored content, brand partnerships, and other sponsorships that fit TikToker’s specific niche and type of content.
In exchange for a fee, influencer campaigns connect companies with TikTok influencers and ensure important campaign activities are carried out.
Advertisements for Other TikTokers
If you have a significant number of followers on TikTok, you have an excellent chance to promote the pages of other TikTok users or companies that are active on the platform. However, you may need to pitch to the account owners to avail this opportunity.
Live Broadcast Monetisation
Making money on TikTok through the monetisation of live broadcasts entails creating a stream to advertise one’s own goods or those of a brand with which one has a contract.
A method of making money on TikTok that is appropriate for streaming the following kinds of advertisements is live broadcast monetisation: Unpacking and opening packages, playing video games, travelling, and reporting.
A highly flexible method of making money on TikTok is through the monetisation of live broadcasts. For example, it is possible to negotiate with a café or a museum and promote them live while strolling.
On TikTok, live broadcasts are rarely monetised because it is challenging to hold someone’s attention while simultaneously promoting a product.
Additionally, since creators cannot add a link to a live broadcast or count the number of transitions, there needs to be an analytics system, making it impossible to assess the effectiveness of this approach.
Crowdfund Projects Through Donations
One of the most accessible ways for creators to make money is through crowdfunding. Offering a simple, no-pressure way for your fans to give back is a great way to establish a steady income stream because you put a lot of time and effort into creating content for them.
Crowdfunding can take many different forms depending on the kind of funding you need. You could engage your followers by establishing a funding goal and holding live fundraising events if you need startup money for a particular project.
Here are some crowdfunding websites to check out if you’re looking to fund a specific project:
- Kickstarter. The number of supporters and brand awareness are Kickstarter’s most valuable assets because it is the most popular crowdfunding platform on the internet.
- Indiegogo. If you don’t have a set fundraising goal, Indiegogo might be better for you since it allows you to receive funds after your deadline and has a more flexible fundraising goal.
- Fundable. Fundable is a fantastic resource for finding investors because it enables startups to trade equity for funding. However, as of right now, Fundable is just accessible to users in the United States.
- Crowdcube. Through its Crowdcube Funded Club, Crowdcube provides businesses that meet their fundraising objectives with unique benefits from their affiliate organisations.
- Crowdfunding. With a network of more than 12,000 venture capitalists and angel investors to connect with, Crowdfunder enabled businesses to raise capital from accredited investors.
- SeedInvest. On their websites, SeedInvest accepts investments from non-accredited investors and members of the general public. Your backers on SeedInvest are investors rather than supporters, so money is provided in exchange for equity.
- Start a Patreon and offer fan subscriptions.
Crowdfunding is effective for large projects, and tipping is the most straightforward way to get money quickly. But what if you want to establish a more consistent passive income source? If so, consider utilising a creator-based subscription service like Patreon.
Because you can keep individual subscription costs low and concentrate on increasing your subscriber base, subscription-based income models are ideal for content creators.
To a single devoted fan, a low-cost subscription of $1 per month is simple to sell. Those dollars start to add up if you have a large following of faithful followers.
Earning Money on TikTok Without Followers
People without followers on TikTok might believe that the social media platform is uninteresting to them, but this is untrue. We have listed out proven ways to make money on TikTok without having any followers below:
Scriptwriting for TikTokers
Scriptwriting on TikTok is a great way to make money on TikTok because it is a platform that supports video content.
To get started, choose a niche that interests you, such as comedy, beauty, or education, and target your scripts to a specific audience. Your content should be engaging, entertaining, and resonate with your viewers.
You can make the script available for purchase by companies for promotional use and private individuals for account filling.
Social Media Management For TikTokers
Social media management for TikTokers is another way to earn money without having a large following on the platform. You would need to be creative, have a level of expertise in the field and be familiar with trends.
You can attract clients by building a portfolio showcasing your experience and expertise in social media management.
How many views and followers are required for TikTok monetisation?
The barrier to earning money directly from TikTok was much higher until December 2021. It would help if you were at least 18 years old (which is still the case! ), have more than 10,000 followers, and received at least 100,000 video views in the previous 30 days to monetise your account.
You can apply for the TikTok Creator Fund if you meet those requirements. It’s not as simple as saying, “1,000 views = $X or ₦X” because the payment-per-view figures have never been made available to the public. Once you’ve signed up for the Creator Fund, you can earn roughly two to three cents for every 1,000 views.
Payments vary based on the quantity and reliability of views, the degree of interaction with the videos, and whether or not the content complies with TikTok’s Community Guidelines and Terms of Service.
Who makes the most money on TikTok?
- Charli D’Amelio makes an estimated $17.5 million annually thanks to her enormous fan base, dance videos, and endorsement deals with brands like Hollister and Dunkin’ Donuts.
- Every year, Addison Rae earns about $8.5 million. She carries a ton of merchandise, custom makeup, and a deal with Reebok, American Eagle, and other brands. Her newly discovered acting and music careers also help.
- On TikTok, Khaby Lame earns an estimated $5 million annually, which to us sounds pretty sweet. He dominated the platform in the summer of 2022, gaining the most followers thanks to sponsorship deals with Netflix, Hugo Boss, and Amazon Prime.