Want to know how to make money on TikTok? With eight new users joining every second, here’s the secret formula for making money with the fastest growing social media app.
As the most downloaded application of 2022, TikTok is one of the fastest growing social media platforms in the world. The explosive growth of the application led to aa turn in demographics: only 47% of its users are between 10 and 29 years old, compared to 62% last year. Trends are constantly changing, as those who make money on TikTok are well aware.
How do you make money on TikTok?
First of all, are you promoting an existing company through TikTok or are you the company you want to promote? Any company can use TikTok ads to drive traffic, for example, but those looking to become a brand ambassador or make money through the TikTok Creators Fund will have to spend more time on TikTok as a platform.
If you offer a product and want to reach more customers through TikTok, TikTok Shopping is for you. TikTok introduced TikTok Shopping in 2021, enabling companies to sell products directly through the platform. TikTok Shopping adds a Shopping tab to your profile so users can see products from your Shopify catalogs. You can tag your products organically in published content so that viewers can easily buy them.
Another great way for an existing business to drive traffic to your content through TikTok is the proven and true method of advertising. Ads can also be redirected to the TikTok Shopping tab. You can run image ads in the feed to promote your products, or run TopView ads (full screen), which are great for making money.
TikTok creators fund
The TikTok Creator Fund is a program that pays users to create engaging content. The more commitment your content has, the more TikTok will pay you. Of course, TikTok wants users to stay to generate more advertising money and spend money on its creators to help achieve that goal.
As the program is still relatively new to TikTok, expect to see it evolve over time, as similar YouTube and Twitch programs have certainly done. You need at least 100,000 video views in the last 30 days to join the TikTok Creator Fund.
Affiliate marketing allows you to make money through a percentage of each sale when a user clicks on your link and makes a purchase. These affiliate links are a great way to make money on TikTok, whether you are an existing business owner or not. Put an affiliate link or coupon code on your profile, or redirect traffic to your Facebook, Twitter, Pinterest, or other accounts where you can plant more affiliate links.
TikTok started out as a lip-syncing app, and almost every video on the platform has background music. If you have a large number of very committed followers, musicians will pay you to promote their music in your videos. Similarly, you can use TikTok to promote your music if you are a musician.
Many brands will pay creators to present their products and services, and you don’t need to be a significant influencer to get started. A great way for smaller content creators to grow their platform is to publish sponsored content. Many brands are known to get in touch with creators regularly, but be sure to approach the brands proactively.
The TikTok Creator Marketplace, which connects brands with influential creators, is a great way to generate more sponsorship for those who meet the criteria. Only creators with more than 100,000 followers and 100,000 video likes in the last 28 days can apply to join the TikTok Creator Marketplace.
You can offer free content through your TikTok and attract followers to help you on Patreon to unlock premium content. Premium content can be anything from backstage advances, community access, public outcry, live chat, swag, or exclusive content (such as art or music). Be creative! Your loyal followers will want to consume everything, but make sure to make your Patreon content valuable, so that your followers will find it worthwhile.
Compilation of Tips
TikTok is partnered with Stripe to allow tip collection directly into your profile. You can also use tip collection through Venmo, PayPal, Cashapp or the money collection service of your choice through your profile links. Gathering tips is a great way to get your audience to support you, and it’s a great way to encourage engagement.
Content creators are constantly finding new ways to make money as the landscape of online spaces changes and evolves. If you have any tips for making money on TikTok that aren’t covered here, let us know in the comments.