Best ways to make money on TikTok

How to make money on TikTok

TikTok, the sixth most popular social media network with over a billion monthly active users, is the platform with the highest audience-building potential and is one of the best methods to earn money online.

TikTok is the number one online-making avenue in countries like Nigeria, which has the world's largest population of out-of-school children. The network has provided a platform that helps youths in the so-called "poverty capital of the world" bridge the gap between intellectual creativity and academic literacy. 

Today, TikTok users can attain a rapid rise on this platform and achieve revenue in a few months by advertising brands, promoting an expert vlog, locating clients, selling their goods, and collecting contributions on streams even without being verified.

After analysing the strategies of successful TikTok stars, the following are the most efficient ways to make money on TikTok:

1. Creators' Fund

The Creator Fund is the primary method to make money on TikTok. As the official initiative for content creators to monetize their work, the Creators Fund is an excellent method to begin earning money on TikTok for users who create instructional material or like streaming. 

With the TikTok Creators Fund, the author may participate in two monthly programmes: "Informative Content" and "Live Broadcasts."

To earn money on TikTok via the Creator Funds, the content creator must apply and fulfil the program's requirements within one month. For instance, they produce about 15 videos every month that get over 2 million views.

Afterwards, TikTok verifies compliance with the initiative's terms, awards the prize, and authorises the author for the next month. If the author fails to meet the requirements, they reapply.

To begin earning on TikTok via the Creator Fund, users must submit a participation application, which is accessible for any account with a few exceptions.

To participate in the content creation programme and earn money on TikTok, users must meet the following requirements: 

  • be at least 18 years old;
  • post original content that adheres to the site's guidelines; 
  • publish at least three videos in the past month; and 
  • receive an average of at least 10,000 views per video.

To participate in the live programme, users

  • must be at least 18 years old,
  • have completed at least three one-hour live broadcasts in the previous month, and
  • have original material that meets TikTok's guidelines.

On the fund's official page, linked above, interested parties can get further information and apply.

2. Creator Marketplace

Creator Marketplace is the official platform for brand-vlogger partnerships. It generates a minimum of $5 for brand integration, making it the second-best official way to earn money on TikTok. 

Authors get personalised invites from the social network and are featured on the marketplace, where registered firms may purchase advertising from them. The network only collects a modest commission when advertising is purchased.

TikTok does not specify what requirements must be met to receive an invitation to the marketplace, but there are specific indicators for Western vloggers, including: 

  • vlogger over the age of 18; 
  • an account with more than 10 thousand subscribers; 
  • more than three videos released and at least one hundred thousand likes in the preceding 28 days.

A nano-influencer's typical cost per post ranges from $5 to $25, while bigger vloggers can charge up to $2,000 or more. 

3. Live giveaways

Live giveaways are one of the simplest and least expensive ways to monetize a TikTok account, with beginners earning an average of $1–3 per giveaway. It is the third and final official method to make money on TikTok.

The major objective is to get access to the streaming capability, which requires more than 1,000 subscribers per account.

The procedure for earning on TikTok via live giveaways is as follows: after travelling through the ether, gifts from viewers transform into diamonds, which may subsequently be turned into dollars and placed onto a card.

4. Personal brand marketing

Personal brand marketing is one of the most popular methods to make money on TikTok. It is ideal for specialists and professionals who can speak at length about themselves and their industry or give helpful and unique information.

Using this strategy, coaches, psychologists, attorneys, professors, photographers, and producers maintain expert vlogs.

This TikTok revenue strategy involves many steps and is contingent on gaining visitors, which may subsequently be turned into paying consumers.

Here is an example of how TikTok users may generate revenue by promoting their own brands:

  1. In videos, a photographer discusses picture processing and delivers fascinating, valuable info.
  2. In the video or profile, there is a link to Instagram or the photographer's website, as well as their author's course or an invitation to conduct a photo session.

Such a plan enables the development of a steady stream of customers for an expert or corporation. When using this strategy, it is optimal to offer remote products and services, as due to the lack of geographical limitations on TikTok, any video will be seen globally.

5. Promotional integrations

The most prevalent method of earning on TikTok is advertising, in which a TikToker is contacted by a business or discovers one themselves and agrees to a monetary, barter, or promotional code compensation.

Typically, TikTok users profit from advertising through bartering, where the author gets, for instance, a free beauty box or gadget in exchange for an unboxing video.

An average channel with 10,000 subscribers and over 100,000 views may charge $5 for integration, although users with millions of subscribers can host ads for $20 or more.

Advertisers often request the addition of a link under the video; however, not all content creators have this capability. For some, the feature will become available after gaining 1,000 followers, while others will need 10,000.

6. Joining hashtag challenges

TikTok often holds hashtag challenges organised by the social network or by sponsors, providing TikTokers with an opportunity to earn money.

To promote these challenges, well-known vloggers are called by the platform and asked to shoot a video in their support for a fee.

The advertising department of TikTok is the only entity authorised to organise an official hashtag challenge, and the budget for such an event often begins at several million dollars.

Most brands and corporations do not have that type of money, so they may approach a vlogger directly with an offer to create a video, and include a hashtag or a song. Typically, prices for such integrations begin at ten dollars. This is one of the ways you can make money on TikTok as a content creator.

7. Live broadcast monetisation

The monetisation of live broadcasts is a method of making money on TikTok in which the author creates a stream to promote their own product or the product of a brand with whom they have a contract.

Live broadcast monetisation is a strategy of earning money on TikTok suitable for streaming the following types of advertisements: 

  • unpacking and unboxing, 
  • game walk-throughs, 
  • travelling, and 
  • reporting.

The monetisation of live broadcasts is a very adaptable approach to making money on TikTok since it is possible, for instance, to negotiate with a café or a museum and promote them live during a stroll.

Live broadcasts are seldom monetised on TikTok since it is difficult to hold a person's attention while simultaneously advertising a product.

In addition, there is no analytics system since creators cannot add a link to a live broadcast or measure the number of transitions, making it impossible to determine the efficacy of this method.

8. Selling merchandise

Sports memorabilia and merchandise are very popular among TikTok's large Gen-Z population

Creative individuals, such as cosplayers, singers, comedians, and painters, have the option of selling things on TikTok to generate income.

A TikToker may purchase their own stuff (T-shirts, wristbands, and hoodies with an avatar or a catchy saying) and then flash it in videos or streams for this money-making plan. In their bio will be a link to their website or Instagram, where fans may purchase the merchandise.

To make money on TikTok by selling merchandise, users must:

  • Create a fan community.
  • Obtain merchandise through specialised services.
  • Create videos with a theme and group them into a playlist to promote the content of the videos.
  • Construct a website or purchase a landing page and include a payment form.
  • Coordinate delivery to the purchaser.

9. Partnership initiatives

Stores, games, banks, food delivery services, and other businesses are eager to share revenues in order to recruit new clients.

Creators on TikTok may include affiliate links in their biographies to earn a commission on product purchases. It may include commonplace items, bank cards and restaurant delivery, among others. You can make money this way from TikTok.

Using affiliates, even a beginner can make money on TikTok with the aid of referral programmes. But content creators should know that they cannot use TikTok affiliate links to promote cryptocurrency exchanges, rates, weight loss products, or other questionable items. If they do, they'll be banned permanently and lose access to their accounts.

10. Advertisements for other TikTokers

One option to earn money on TikTok is to mention other accounts in video descriptions for a fee or in exchange for goods. A variation of this involves filming paid duets or collaborating with vloggers.

How to make money without followers on TikTok

Individuals with no followers on TikTok may be of the opinion that there is nothing on the social media platform for them; however, this is not the case. Below is the most lucrative method to make money on TikTok without followers:

Writing scripts for TikTokers

Even those with no TikTok followers can still make money on the platform by authoring video scripts. Here they must decide what a video will be about, what the Tiktoker will say, where they will stand, and how they will act.

Businesses can purchase the script for promotional purposes, as can individuals to fill their accounts with the material.

How much do TikTok users get for one million views?

After monetisation, TikTok bloggers in the United States get around $20 for every million views through the Creator Fund.

To obtain formal monetisation from TikTok, a user must

  • be at least 18 years old,
  • create original content,
  • have at least 10,000 followers, and
  • have had at least 10,000 visits to their account during the last 30 days.