How to Make Money on TikTok: 7 Ways to Get Paid
TikTok is currently the fastest growing and most popular social media platform. With TikTok increasing in popularity, a lot of people are wondering if the platform can be monetized. Creators on the platform are asking if they can make money from their videos.
The simple answer is yes.
Similar to other platforms like Instagram, YouTube, Likee, and Twitch, TikTok can be monetized. If you’re growing a TikTok following and curious about monetizing your audience, here are 7 ways you can make money from TikTok.
Let’s get started.
How Much Do TikTokers Make?
Before getting into the specific ways to make money on TikTok, let’s quickly cover how much an average person could expect to earn on TikTok.
Estimates suggest that a TikTok content creator with 100K followers can earn on average between $200 to $1000 per month and a TikTok content creator with 1M+ followers can earn on average between $1000 to $5000+ per month.
You must be asking why there is a huge range. Because there are a number of factors that influence the earning potential. Such as type of content, engagement with content, demographic of viewers.
Moreover, popular TikTok influencers, such as Addison Rae, Charli D’Amelio, Brent Rivera, and Spencer X, have been able to earn thousands of dollars through a combination of brand sponsorships, live streams, merchandise sales, and cross-platform promotion.
In 2020, Forbes published its inaugural list of the highest-paid TikTok stars:
- Addison Rae Easterling, $5 million (86M followers)
- Charli D’Amelio, $4 million, (132.1M followers)
- Dixie D’Amelio, $2.9 million, (56.4M followers)
- Loren Gray, $2.6 million, (54.3M followers)
- Josh Richards, $1.5 million, (25.6M followers)
- Michael Le, $1.2 million, (51.5M followers)
- Spencer X, $1.2 million, (55 M followers)
7 Ways to Make Money On TikTok
There are many ways to make money on TikTok – including brand sponsorships, selling merchandise, and creating in-feed ads. Let’s check them one by one.
1. Join the TikTok Creator Fund
The TikTok Creator Fund is TikTok’s way of compensating creators for posting good content. To join the TikTok Creator Fund, you’ll need meet the following criteria:
- You must be at least 18 years of age.
- You must be based in the US, UK, France, Germany, Spain, or Italy.
- You must have a minimum of 10,000 followers.
- Your videos must have 100,000 video views in the last 30 days.
- Your account must adhere to the TikTok Community Guidelines and terms of service.
If you believe you meet all of the eligibility requirements referenced above, you can apply within the TikTok app by opening your account settings, clicking “Creator tools,” and then “TikTok Creator Fund.”
Then, estimated funds should appear in your Creator Fund Dashboard approximately three days after the day in which video views were accrued. However, a number of factors influence how funds are calculated for videos under the program. These elements include video views, video engagement, as well as ensuring the videos adhere to the Community Guidelines and Terms of Service.
2. Go Live and Collect Virtual Gifts
The most effortless approach to bring in cash on TikTok is to go live. It is simple and easy to do.
When an influencer(TikToker) does a live broadcast, the followers can gift their coins. And when a TikToker has gotten a specific number of coins, they can trade these coins for genuine cash through PayPal.
To go live, you should at least have 1,000 followers and your age is not less than 16.
3. Partner with Brands in The TikTok Creator Marketplace
The TikTok Creator Marketplace is a collaboration platform that connects brands and creators on TikTok. Once you have 100,000 followers, you can apply to the TikTok Creator Marketplace and get the opportunity to connect with brands and sponsorship opportunities.
You’ll also get official support from TikTok on brand campaigns, access to collaboration tools, and pointers for how to create advertiser-friendly content.
Normally, videos dedicated to brand sponsorships can earn up to $1000 for a single post with 100K views, and videos dedicated to app sponsorships can earn up to $100 to $250.
4. Make Money from TikTok Ads
TikTok ads offer good opportunities for businesses to widen their reach among customers. You can start making money through TikTok For Business by using in-feed video ads, branded Hashtags, brand takeovers, and branded effects to help you capture some good ad revenues.
5. Sell Merchandise to TikTok Users
If you’re from the US, Canada, or the UK and have a TikTok for Business account, you might be able to add a shopping tab and product links to your profile.
6. Place Affiliate Links
You can also opt to participate in affiliate programs by placing links on your TikTok post descriptions or even your bio channel to generate some money.
7. Become A TikTok Consultant
If you are an expert on TikTok, there are a ton of brands and even individuals that would pay for your services.
If you know how to get thousands, even millions of views on your videos, you can teach others how to do the same for a consulting fee. It’s a good way to leverage your expertise and also diversify your income.
Bonus: How to Increase Your TikTok Views and Boost Your Profile
To really make money on TikTok, you need to significantly increase the number of video views you get on the platform. More views will translate into more followers and a higher engagement rate.
Here are some ways you can increase your TikTok views.
1. Focus on a Niche
Before you start posting on TikTok, it is best to identify content you are passionate about.
2. Post Regularly
To increase the number of views your videos get and also your chances of getting to the ‘For You’ page, you should post videos regularly on the platform.
3. Add Hashtags to Your Videos
Adding hashtags to your TikTok videos can help increase the visibility of your video. If you click on the Discover search tab, you will see a list of trending videos by hashtag.
While it’s great to add hashtags to your videos, avoid the generic ones. Look for specific hashtags in your niche so that your videos can easily stand out.
4. Share Videos to Other Social Media Platforms
Another way to gain followers is to share your videos on other platforms. You can share videos to audiences that are most likely to appreciate the content and share it forward, like Facebook groups, Reddit communities, and of course, your accounts that have the most followers.
5. Follow Other TikTok Users
Keep in mind it’s not all about you. Following other users on the app is also an excellent way to gain new followers unless you are only following super famous people. Look for people like you who are just starting out or even those with a few thousand followers.
6. Engage Your Audience
Interact with them. Reply to their comments. Go live and interact with your followers while you stream live videos.
Ready to Start Making Money on TikTok?
As we have seen, you can earn a sizable income by leveraging TikTok through live streams, brand sponsorships, cross-platform promotion, merchandise sales, and providing consultation services.
Leaning the best ways to make money on TikTok isn’t difficulty. The main thing to keep in mind is that you need amazing content that people love, and you need to work hard at continuously growing your following. After all, the amount of money you can earn is generally related to the number of followers you have.
What strategies have you taken to monetize your TikTok account? Let us know in the comments below.