How To Make Money On TikTok- 8 Ways To Monetize Your Channel
Learn how to make money on TikTok: 17-year-old Charli D’Amelio was the highest-earning TikTok creator in 2021, earning ~$17.5 million (£12.9 million), according to Forbes.
Charli & her older sister Dixie are two of many creators who are making (more than) a living from TikTok.
With more than 1 billion active users on the platform spending 858 minutes per month, creators find it easier to rake in views with short videos— compared to YouTube or any other long-form video platform.
If someone uses TikTok for 5 minutes, they’ll at least watch 5 videos. On YouTube, they might not even be halfway through 1 video.
As a TikTok creator, you must know the eight ways you can monetize your content.
Take Part in TikTok’s Creator fund- How To Make Money On TikTok
What is TikTok Creator Fund?
TikTok Creator Fund is a pool of money that’s distributed among Creator Fund members based on their video views, engagement, and other factors.
TikTok hasn’t disclosed the payout ratio or formula. But if you make videos with a high completion rate and a number of views, you can expect a good return.
Who is eligible?
To participate in TikTok Creator Fund, you must meet certain eligibility requirements
- You must be 18 years or older
- You must be based in the US, UK, France, Germany, Spain, or Italy.
- Have 10,000 authentic followers
- Your videos have been viewed at least 100K times in the last 30 days
- Your videos are original & in line with TikTok’s community guidelines
What you should understand
Creator Fund is not for everyone. But it’s also not the end of the world.
Charli D’Amelio is below 18. There are plenty of TikTokers who don’t reside in the mentioned geographic area. It doesn’t matter for them. They can make tons of money through other sources.
Promote Music & Earn Money
For individual music creators, TikTok is a gold mine.
Imagine an individual musician creates a song and places it on TikTok. Then she sees it go viral with her sales going up.
To get that kind of sales boosts, wouldn’t she be interested in paying TikTok creators with a high number of followers to use her music?
She would. That’s exactly how it works.
There are many services that allow musicians and TikTokers to get connected. That is a great way of making money for both parties.
Find A Brand You Believe in & Partner With Them
Similarly, brands would be equally interested in collaborating with you.
Most of the influencers earn the bulk of their earnings through brand endorsements.
For a TikToker with 1 million+ follower, it’s possible to charge over $2,000 per post.
Place Affiliate Links
Affiliate Links are excellent sources of passive income.
For example, let’s consider you are a TikToker who reviews books in sixty seconds. After each review, you place the affiliate link to purchase that book. If your videos become popular, you are bound to get clicks.
The way most affiliate program works is — they give credit to you for any purchase made on the site during a specific period of time. For Amazon, that period is 24 hours. So, if someone clicks on your link for a book and buys groceries within 24 hours, you will get paid!
~40% of the overall TikTok audience is between 16 and 24 years of age. You can target youth-centric products to them easily.
Go One Step Further — Sell Merchandize
It’s so easy to create your own merchandise these days.
You can completely outsource the process — including manufacturing and delivery.
If you use your merchandise on your videos, you can leave links to encourage viewers to purchase. Or you can outright promote the products in your videos.
37% of TikTok users have a household income of over $100,000. You can tap into a market that’s more likely to pay for your products.
Accept Gifts During Live
TikTok allows viewers to send “Diamonds” to creators during live videos.
The viewers can purchase those “Diamonds” for coins and send them to creators. Creators can then redeem money in exchange for those “Diamonds”
Read more about TikTok’s live gifting process here.
Join TikTok Creator’s Marketplace- How To Make Money on TikTok
TikTok Creator’s Marketplace allows brands to find influencers based on their industry, geography, budget and business objectives.
The brands can then connect with the influencers and work with them through the marketplace.
Creators can join the marketplace to make themselves visible and open up a new way of monetizing.
Create In-Feed Ads With The TikTok Ads Manager
TikTok ads manager works just like any other online ad platform.
You can create a shopify store and directly promote your store through TikTok. In US, ~47% of users are between age 10 to 29 — with over ~60% female.
That can make it simpler for you. If you have products that’s useful for female audience aged between 18–29, you can choose TikTok ads to directly promote to them.
Final Thoughts on How To Make Money On TikTok
TikTok is a fairly new platform — growing at a rapid pace.
It’s likely their creator fund will become bigger and so will every other earning opportunity.
But at the center of every earning potential lies one requirement. You must have a large number of fans.
Start building your TikTok to get to that level of fan following. Your earning opportunities will open up in no time.