17 TikTok Money-Making Strategies For 2023
If you find yourself spending hours every day on TikTok, you may want to think about ways to make money off of your addiction. TikTok is one of the most widely used social media websites, with over 1 billion users worldwide and a presence in more than 40 countries.
TikTok surpassed all other apps in downloads in 2020, and it is rapidly replacing Google as Gen Z's primary search tool. While TikTok may provide monetization opportunities, relying solely on these strategies may not be sustainable in the long run due to the constantly evolving nature of social media platforms and the uncertainty of their future profitability.
Making Money on TikTok: What's the Secret?
People can make 15-second videos on TikTok and share them with others. There are numerous funny cat videos among the singing, dancing, and comedic performances. TikTok also provides several ways for content creators and entrepreneurs to monetize their work and reach a wider audience. One of the most popular ways to make money on TikTok is through brand partnerships and sponsorships. Many companies are eager to collaborate with TikTok influencers to promote their products or services to a large and engaged audience.
Influencers can earn a significant income by creating sponsored content or featuring products in their videos. Additionally, TikTok has its own Creator Marketplace, where brands can connect with content creators for potential collaborations. This platform provides a convenient way for influencers to find brand deals and negotiate their rates. Another way to monetize TikTok is through the live streaming feature.
1. Participate in the Creator Fund hosted by TikTok
TikTok's Creator Fund is a way for the platform to reward its most popular users for continuously producing high-quality videos. If you're a creator with at least 10,000 followers and 100,000 video views in the past 30 days, you may be eligible to receive financial compensation for your efforts.
The Creator Fund allows you to make money through creative work. Your earnings are determined by several factors, including the number and quality of views as well as the length of time users spend interacting with your content. TikTok's Creator Fund is only accessible through the pro/creator account application process.
2. Collaborate with a Well-known and Respected Brand
Make money on TikTok by affiliating with a company whose products or services you enjoy using. For instance, if you're a makeup artist who shares tutorials on how to get that perfect winged liner, you may approach your preferred makeup brand about a possible partnership. You can initiate contact with these companies and propose a collaboration with them. By partnering with a well-known and respected brand, you not only gain financial benefits but also enhance your credibility and reach a wider audience.
The collaboration can involve sponsored content, product placements, or even exclusive discounts for your followers. This way, you can monetize your TikTok account while staying true to your passions and interests. Remember to emphasise the value you can bring to the brand and how your audience aligns with their target market.
3. Publish Sponsored Content
You can partner with sponsors to make sponsored posts if you have tens of thousands or a few hundred thousand followers as a TikTok influencer. Promote the brand's goods or services with original content that you produce and distribute to your audience. Your compensation comes from the sponsor.
- Explore the different ways in which TikTok creators can monetize their content, such as through
- Brand partnerships, sponsored posts, and advertising revenue generated from views.
- Discuss the application process to become a TikTok creator and join the official team. Highlight any requirements or qualifications that aspiring creators should meet to increase their chances of being accepted.
- Explain the benefits of having a large following on TikTok when it comes to partnering with sponsors for sponsored posts.
4. TikTok Shopping is a Platform to Sell Goods
The TikTok app itself incorporates an e-commerce platform called the TikTok Shop, so users don't have to leave the app to make a purchase. Creators may advertise their companies and items to a larger audience through the TikTok Shop. As an added bonus, creators may quickly embed links to the products they use in their movies. Furthermore, you can make money using TikTok affiliates. Through the affiliate programme, you can earn a commission on sales made by promoting brands that your audience is interested in.
This can be a great way for creators to monetize their content and earn passive income. By partnering with popular brands and promoting their products, creators can earn a percentage of each sale that is made through their affiliate links. This not only incentivizes creators to create engaging and compelling content, but it also provides a seamless shopping experience for TikTok users, making it a win-win for both parties involved.
5. Boost Revenue with TikTok Ads
Advertise your brand to the relevant people on TikTok and expand your reach. One-third of TikTok users have made a purchase after seeing an ad on the app. Ads Manager allows you to zero in on your ideal customers and connect with them. Provides a wide variety of premade video templates to save you time during the production process. The efficacy of your advertisements can also be evaluated. By using TikTok ads, you can tap into the platform's large user base and target the right audience for your brand. With one-third of TikTok users making a purchase after seeing an ad, it is a great opportunity to boost your revenue.
Additionally, Ads Manager provides valuable tools to help you connect with your ideal customers and evaluate the effectiveness of your advertisements. The wide variety of premade video templates also saves you time and effort during the production process.
6. Join Affiliate Marketing Initiatives
Affiliate marketing allows you, the creator, to market and sell the goods and services of another business. A commission is paid to you if a viewer decides to buy a product or service after viewing your content. Keep your videos genuine by sticking to brands you already enjoy and respect. This way, your audience will trust your recommendations and be more likely to make a purchase.
Additionally, joining affiliate marketing initiatives can provide you with a passive income stream, allowing you to earn money even when you're not actively creating new content. It's a win-win situation that can greatly boost your earnings as a video creator.
7. Create and Resell Accounts on TikTok
Building and selling TikTok accounts is a viable business strategy if you can attract a sizable audience through organic means. Because of the time commitment involved in growing a TikTok following, some companies choose to pay for an already popular account instead. You can increase your chances of success by zeroing in on a manageable subset of the market that can be sold off in one piece. For example, you can focus on creating and reselling niche TikTok accounts that cater to specific interests or demographics.
By targeting a specific audience, you can attract more engaged followers, making your account more valuable to potential buyers. Additionally, continuously engaging with your audience and posting high-quality content will further enhance the value of your TikTok account, increasing your earnings when you decide to sell it.
8. Advertise to Promote Music
Promoting songs in your videos is one way to make money on TikTok. To increase the popularity of a song, record labels will pay TikTok users to include it in a video. PlaylistPush is a promotion on TikTok that will earn you up to $250 per video. How many times a video is viewed determines how much money you make from it. You can submit an application to become a TikTok creator and join the team. Once accepted, you will have access to the TikTok Creator Marketplace, where you can connect with brands and advertisers who are looking for influencers to promote their products. By partnering with these brands, you can earn additional income through sponsored content and collaborations.
Additionally, as your follower count and engagement grow, you can also monetize your TikTok account through live streaming, where fans can send you virtual gifts that can be converted into real money. Overall, by leveraging the various monetization options available on TikTok, you can significantly boost your earnings as a video creator.
9. Take Advantage of Live Gifting to Get Donations
Live gifts on TikTok are how content creators can begin amassing diamonds (the app's digital currency). Visitors to your live broadcasts can now send you presents. If you save up enough diamonds, you can cash them in for real money or in-game goods.
You must be 18 or older, have at least 1,000 followers, and have had your account for at least 30 days before you can start collecting diamonds on TikTok. You get to retain half of your earnings, while TikTok gets the other half as a commission.
10. Participate in Promotional Activities for a Company
A person who promotes a company and raises awareness of the products and services offered by a brand to increase sales is known as a brand ambassador. In contrast to casual influencers, companies hire brand ambassadors for the long haul and invest heavily in their training. Furthermore, they may be willing to enter into an exclusive collaboration with the company. Brand ambassadors can be compensated in a variety of ways, such as through short-term and long-term paid agreements (much like a normal job), affiliate links, and free products.
11. Collaborate with Influencers
Working with TikTok influencers can help you reach more people and promote your product or service. You may expand your brand and increase sales with the help of the appropriate influencer. You should seek out influencers who provide content pertinent to your sector and who attract consumers who would be interested in what you have to offer. After selecting the desired influencers, you may get in touch with them either directly or via their talent agency.
- The benefits of collaborating with influencers: Discuss how working with TikTok influencers can help increase brand visibility, expand reach, and boost sales for businesses in various industries.
- Finding the right influencer: Provide tips on how to identify suitable influencers who align with your brand's values and target audience. Explain the importance of selecting influencers who create content relevant to your sector and attract potential customers.
- Reaching out to influencers: Explore different ways to initiate contact with influencers, such as reaching out
12. Fundraise via Crowdsourcing
Consider using TikTok for crowdfunding if you need money to establish a business or introduce a new product. Crowdfunding allows you to spread the word about your business plan, collect payments in advance from eager customers, and utilise those funds to create and ship your product. Spread the word about your crowdfunding campaign on TikTok.
13. Gather Feedback to Grow
Feedback is crucial for the success of your crowdfunding campaign. Encourage TikTok users to leave comments, suggestions, and opinions about your business or product. This feedback can help you improve your offerings and build a loyal customer base. Additionally, engage with your audience by responding to their comments and addressing any concerns they may have, as this will foster trust and credibility in your campaign.
14. Donations from TikTok Followers
Your TikTok followers can now donate to you directly if they enjoy your content. You get to keep the entire tip amount (less the transaction fee that Stripe charges). Before you can start receiving tips, TikTok must first approve you. You need at least a hundred thousand fans and to be over the age of 18.
15. Link your Followers to your Patreon Page
You can make money in other ways besides TikTok. Patrons can financially support creators on Patreon, and creators on TikTok can send their audiences there. Behind-the-scenes footage, branded merchandise (of your business, of course), live chats, and custom-made videos are all great examples of things to sell on Patreon.
16. Increase Profitability in Business through TikTok
You may use TikTok to promote your business and potentially bring in new clients or consumers, even if you already have an established company. Posting brief movies showcasing your skills and services can help you reach a wider audience, whether you're a web developer, child psychologist, or fitness guru.
17. TikTok's Rewards Programme
You can earn money from TikTok just by referring your friends to use the platform. Help TikTok expand its user base and receive rewards through the TikTok Rewards programme. Copy your own referral link from your TokTok profile to get started. The next step is to send the link to someone you know who isn't yet using TikTok. You'll get paid if they sign up. You can cash in your rewards once you've reached a certain threshold.
You don't need a certain quantity of videos to start making money on TikTok. In contrast, the quantity of your followers directly correlates to your earning potential. You need at least 10,000 followers before you can apply to the TikTok Creator Fund. It's also very difficult to make money in any of the other ways we listed above if you don't have an audience.
Video content that is interesting, amusing, and educational will attract more viewers and help you gain followers naturally.