If you’re an entrepreneur or marketer looking to tap into TikTok’s massive user base and unlock its marketing potential, it’s crucial to understand the strategies used by the platform’s top creators and marketers
Fortunately, there are numerous ways to earn money from TikTok, and with the right approach, you can leverage this social media platform to build your audience and increase your revenue. In this article, we’ll explore the most effective tactics for monetizing your TikTok account and boosting your income. So, if you’re interested in learning how to earn money from TikTok, keep reading!
The Ultimate Guide to Making Real Money on TikTok 2023
To earn money from TikTok, there are specific requirements you need to meet. Firstly, you must be at least 18 years old and based in the US, UK, France, Germany, Spain, or Italy. Additionally, you need to have a minimum of 10,000 followers and your videos must have 100,000 views in the past 30 days. It’s also important to ensure that your account complies with TikTok’s Community Guidelines and terms of service.
Once you’ve met these requirements, you can start thinking about monetizing your TikTok account. However, it’s essential to understand your target audience before deciding on the best approach to monetization. While there’s no one-size-fits-all solution, the highest earners on TikTok usually have multiple income streams, including sponsored content and organic marketing.
Let’s take a look at some of the most common ways users make money on TikTok. If you’re wondering how to earn money from TikTok, these strategies can serve as a starting point for your monetization efforts.
1.Maximize Your Earnings: How to Join the TikTok Creator Fund
One way for TikTok users to make money is through the TikTok Creator Fund. This fund pays users based on factors like audience size, engagement quality, and frequency of posts. However, the Creator Fund can be exclusive and payments are not always consistent. It’s a great option for those with a substantial following, but there are many other ways to monetize your account if you’re just starting out.
It’s also worth noting that even if you’re part of the Creator Fund, having additional revenue streams can be beneficial. This approach can help you diversify your income and provide more stability in the long run. So, if you’re looking to make money on TikTok, it’s important to consider all available options and create a strategy that works best for you.
2. How to Boost Your Earnings on TikTok with Merch Sales
One effective way to monetize your content on TikTok is by selling your own products. It doesn’t matter if you’re a dancer, singer, or comedian; you can create and sell merchandise to your loyal fans. With a wide range of print-on-demand companies, you can choose from a variety of products such as t-shirts, tote bags, pillowcases, hats, coffee mugs, stickers, and notebooks.
Selling print-on-demand products can offer benefits beyond just revenue. Branded merchandise creates a more personal connection between you and your fans, and every follower that wears your merch promotes your business. This approach not only generates income, but it also helps grow your brand’s visibility and reach on the platform.
Unxpectd, a clothing brand, started as a school project by a group of high school seniors. However, when they began promoting their handmade clothing on TikTok, their lives changed. Unxpectd’s TikTok account experienced its first viral hit in December 2020, and within a few months, its following grew significantly. After graduating, the team moved to Los Angeles where they continue to dye and embroider their products, while also creating fresh TikTok content.
What sets Unxpectd apart on TikTok is its approach to promoting its brand. Instead of directly advertising its products, Unxpectd uses its platform to allow followers to connect with the brand’s founders on a more personal level.
By bringing followers along for their brand-building journey, Unexpected creates a more meaningful connection with their audience, leading to a more engaged and loyal following.
3. Monetize Your Live Streams on TikTok with Virtual Gifts
Here are some tips for using TikTok’s Live Gifting feature to monetize your content through livestreaming:
- Pick the right time: Check your audience insights to see when your followers are most active and go live at that time.
- Stay live longer: The longer you stay live, the more users will have the chance to log on and see your broadcast.
- Post during your livestream: Posting a short video while live will prompt users to click the link to your live broadcast, helping to grow your live audience.
- Use TikTok hashtags: Use hashtags to increase the reach of your videos and make it easier for users to discover your account.
- Test your equipment: Make sure your internet connection, lighting, and sound equipment are suitable for prolonged use before going live.
- Stay safe: TikTok has features to filter comments, mute users, and block viewers. Use these features to prevent bullying or harassment during your livestream.
- Engage with your audience: Building relationships with your fans through real-time interaction can help to boost other monetization streams, as users who feel connected to a creator are more likely to support them.
Habits 365 is an apparel company based in New York that was founded by teenage brothers, Eli and Spencer Zied. The company revolves around the belief that positive habits are key to success, and the brand’s founders are perfect examples of this philosophy.
Habits 365’s success can be attributed to the founders’ willingness to connect with their audience on a personal level. They frequently use TikTok’s live feature to share short videos of themselves working on their brand during late hours, which has helped them gain immense popularity on the platform.
4. Collaborate with Influencers and Brands on TikTok’s Creator Marketplace
TikTok’s Creator Marketplace is an innovative way for creators to monetize their content through brand partnerships. The marketplace helps brands and influencers connect quickly and easily, facilitating sponsored content creation that benefits both parties.
By browsing the marketplace, brands can find creators who are open to collaborations and work with them on affiliate marketing campaigns. This eliminates the awkwardness that can come with reaching out to influencers on other platforms.
The Creator Marketplace essentially acts as an influencer agency, simplifying the process of finding brands to partner with and manage brand partnerships. For an even easier way to manage brand partnerships, creators can try Shopify Collabs, which allows them to generate affiliate links and manage partnerships all in one place.
Peace Out Skincare is a brand that was born out of a need for a solution to common skin issues. Its founder, Enrico Frezza, struggled with acne and hyperpigmentation, among other things, and decided to take matters into his own hands by researching and developing his own line of skincare products.
One of the ways Peace Out Skincare has successfully grown its brand is by partnering with TikTok influencers. In a Shopify Masters podcast interview, Enrico Frezza shared insights into how these partnerships have helped the brand gain more exposure and reach new audiences.
5.Create effective in-feed ads with the TikTok Ads Manager
TikTok provides various opportunities for organic marketing, but if you want to further expand the reach of your content, you can try creating in-feed ads through the TikTok ads manager. These ads are shown in users’ “For You” feeds and play automatically like any other TikTok video. With paid ads, you can ensure that your videos reach audiences who are most interested in your products.
The best part is that TikTok’s ad manager seamlessly integrates with Shopify, allowing you to create TikTok ads, select a target audience, and track your ad’s performance all from your Shopify store. With these capabilities, TikTok can become one of the most powerful online marketing tools at your disposal.
Get inspired: Luxe Collective
Luxe Collective is a Liverpool-based luxury fashion outlet that offers up-to-date, pre-worn luxury goods at a fraction of the price found at other retailers. While it originally found success growing its social media audience on Instagram, the brand has since fostered a huge following on TikTok. In fact, its TikTok following has grown to nearly triple the brand’s number of followers on Instagram.
6. Crowdfund your projects with the support of your fans’ donations.
Crowdfunding can be an accessible way for creators to earn money from their content. By offering a no-pressure way for fans to contribute, creators can establish a regular income stream. Crowdfunding can take many forms depending on the type of funding needed. Here are some crowdfunding sites to explore:
- Kickstarter: This is the most widely used crowdfunding platform on the web. Its biggest asset is the volume of supporters and brand recognition.
- Indiegogo: This platform offers a more flexible fundraising goal, allowing you to receive funds after your deadline.
- Fundable: This site lets startups offer equity in exchange for funding, making it a great tool for finding investors. Currently, it is only available to users in the United States.
- Crowdcube: This platform offers companies that meet their fundraising goals exclusive benefits from their partner organizations through its Crowdcube Funded Club.
- Crowdfunder: This platform lets companies raise capital through accredited investors, with a network of more than 12,000 venture capitalists and angel investors to connect with.
- Mighty Cause: With no fees or waiting period for approvals before launching your campaign, Mighty Cause’s easy-to-use platform is great for quickly creating a funding page to collect donations.
- SeedInvest: SeedInvest allows laypeople who aren’t accredited investors to invest in companies on their sites. On SeedInvest, your backers are investors, rather than supporters, and funds are given in exchange for equity.
7. Collect tips from your audience on TikTok.
If you’re not interested in crowdfunding for a specific project, tipping platforms could be a great option for accepting donations. These platforms allow fans to donate small amounts of money as a form of support, without any obligation or subscription.
Here are some popular tipping platforms to consider:
- Tipeee: Tipeee is a simple tipping platform where creators can set up a page for fans to directly donate any amount they want, whenever they want.
- Buy Me a Coffee: This platform is designed specifically for creators and offers a similar tipping feature to Tipeee. Followers can purchase “coffees” for the creator, which are $1 payments transferred via PayPal or online banking.
- Ko-fi: Ko-fi offers tips, memberships, and even the ability to offer personalized content commissions, like custom tutorials or video chats.
8. Start a Patreon and offer fan subscriptions
If you are looking for a regular and passive income stream, you might consider using a subscription-based platform for creators, such as Patreon. Subscription models work well for content creators because you can keep individual subscription costs low while focusing on increasing the number of subscribers.
Patreon is a popular platform that allows creators and influencers to generate revenue through paid memberships from their most loyal fans. With Patreon, you can set up membership tiers that enable you to offer exclusive content to your biggest supporters.
This means that subscribers who pay more will receive more benefits and access to more exclusive content. By offering unique and valuable content to your subscribers, you can incentivize them to continue supporting your work on an ongoing basis.
It’s worth noting that Patreon isn’t the only subscription-based platform for creators. Ko-fi, for example, also includes a tipping feature. However, Patreon’s brand awareness can add a level of trust from prospective supporters.
If you’re considering using a subscription service to monetize your TikTok account, here are some best practices to keep in mind:
- Be transparent. Building a high level of trust with your audience is crucial, so be transparent about the amount you’re making and how your funds are being spent.
- Entice your fans with rewards. Offer exclusive content, free merchandise, and other alluring benefits to your biggest supporters to increase their donations.
- Thank your supporters directly. Make your fans feel appreciated by replying to their comments, tagging users, and giving video shout-outs as frequently as possible.
- Promote your Patreon profile. Fans can’t donate if they don’t know you’re accepting donations. Link to your Patreon page from your TikTok profile and mention it in your TikTok videos, especially if you’ve recently gained a lot of new followers.
- Keep subscription costs low. It’s easier to get $1 from 50 followers than to get $50 from one. Keep your subscription costs low and focus on growing your number of subscribers.
- Create new content consistently. Paying audiences have higher expectations when it comes to how frequently you release new content. Keep a content calendar and release new content regularly.
Who makes the most money on TikTok?
Here’s the information you provided in a table format:
|Earnings per post
The top-earning users on TikTok make their money through a variety of ways, including sponsorships, brand deals, merchandise sales, and collaborations. Some also have their own businesses outside of TikTok that they promote through their content. It’s important to note that these high-earning users are often very dedicated to creating quality content and building a strong following on the platform.
Do you get paid for uploading videos on TikTok?
Creators on TikTok are not directly paid by the platform to produce and upload videos. However, the TikTok Creator Fund provides funding for creators based on factors like the number of video views, engagement rates, and user authenticity. The amount of payment can vary depending on these factors.
TikTok’s top earners typically earn money through multiple income streams. While some micro-influencers might receive payment from brands to create videos, it is not the primary source of income for the highest-paid TikTok users.
Having multiple income streams is more secure for creators, but the size and engagement of their audience are crucial factors when it comes to making real money on TikTok.
Understanding your audience
TikTok has a predominantly young audience, with 62% of users under 30 and 32.5% under 20. However, the platform is seeing a growing number of millennials, which could change its demographics quickly. Therefore, having a head start in catering to older users can provide an advantage in the future.
When it comes to content on TikTok, authenticity is crucial, as the most successful creators are those who are true to themselves. Audience engagement is also essential, and TikTok offers unique features like Q&A, Duet, and video replies to comments that creators can use to engage with their audience on a more personal level. Finally, posting frequently is crucial to staying relevant, boosting content’s value in the algorithm’s eyes, and increasing the chances of going viral and expanding the audience.
There’s no one-size-fits-all approach to monetizing a TikTok following, but understanding your audience’s interests is critical to creating content that resonates with them and finding ways to monetize that following.
How to “sell” without annoying your audience
One of the challenges of using social media to sell products is finding the right balance between promotional material and engaging content. While your followers understand the need for funding, bombarding them with ads can be a turn-off. This is particularly true on TikTok, where building personal connections with your audience is crucial.
To avoid this, take a content-first approach. Instead of starting with your sales pitch, create compelling content that can inspire monetization ideas. A great example is Partly Sunny Projects, an online plant distributor run by Sonja Detrinidad. She started the business as a hobby while working as a mortgage professional. When she decided to focus on the business full-time, she turned to TikTok to drive traffic.
Sonja’s authentic and no-nonsense approach to gardening immediately resonated with TikTok’s audience. By creating content related to gardening, Sonja attracted the attention of followers who were interested in her products. This led to a surge in traffic and sales for her online store.
Join the TikTok creator economy
For many creators, the joy of creating is its own reward. However, being a creator in 2023 also means being an entrepreneur, marketer, salesperson, accountant, and CEO. The creator economy has given rise to self-made stars who build their success through their own creativity and passion.
In this economy, time is money, and earning more money from your art gives you more time to create. Even if the financial reward is not the main motivation, having more time to focus on creating can be a huge benefit for creators.