Ever since TikTok was launched in 2016, the popular social networking site meant for sharing short videos. The platform boasts over a billion users, which means that anyone who knows how to monetize their products or services on this platform will literally find themselves in a thriving marketplace.

Below, we have discussed 15 vital tips on how to make money on TikTok:

1. Affiliate Partnerships

Affiliate partnerships allow TikTok creators to earn commissions by promoting products or services. Creators are required to tap into affiliate marketing networks or directly tie up with brands to earn a fraction of the sales generated via referrals. Brands are being offered somewhere between 5-30% commission on a product that a creator sells directly on their behalf.

This approach lets creators make money through their content while offering value to their audience via proper guidance.

2. Promote partnerships

Influencer marketing on TikTok is pretty similar to what it is on YouTube and Instagram. Because TikTok is all about videos, brands try to search for genuine personalities whose video content is powerful and who have trusted audiences. As a TikTok creator, you cannot choose just any brand but rather those that have some kind of connection with your content. Also, your audience should take an interest in the brands that you select.

To attract brands, you can create videos of the products you like without any sponsorship. If you accomplish your work perfectly, your prospective brands will feel that you can help them with their product promotions.

3. Let TikTok pay you

TikTok has its Creativity Program which was earlier known as the Creator Fund. It will pay you if you are eligible to join this program, which is worth millions.

The criteria include being at least 18 years old and a Pro user, hailing from the United States, United Kingdom, Germany, Spain, France, or Italy, having at least 10,000 followers and 100,000 unique video views a month before applying, and adhering to the TikTok community guidelines and terms of service.

The more creative you are, the more genuine your content is, and the greater will be the reward that you can expect from TikTok.

4. Sell wares on TikTok

If you sell things through an e-commerce site, exhibiting your wares on TikTok can allow your business to find new audiences and assert your brand personality as well. To reach out to a new audience, you can use tuneful audio clips or leverage the existing TikTok trends while displaying your stuff.

After becoming popular on the platform, a few TikTok creators cashed in on their popularity and started releasing products that followers could purchase through a URL in their bio.

5. Take tips on TikTok

Soliciting tips is a means through which TikTok creators can seek financial support from their followers. When your followers give tips, it means they admire your content and it’s how you form a rapport with your audience.

For collecting tips on TikTok though, you need to be 18 years or more and have nothing less than 100,000 followers. Once you fulfill these criteria, you can activate tipping on your account by visiting your profile and then clicking on the three dots in the top right corner. Next, you have to follow this path – ‘Settings and Privacy’ – ‘Tips’ – ‘On’.

Whenever anyone tips you, they will of course have to mention the amount that they would like to pay you which can vary from USD1 TO USD100. Once a tip is paid, it will be submitted to your Stripe account. Stripe is a payment processing organization that lets creators accept payments from their followers.

The higher the number of followers on TikTok, the more money you can make with the help of tips. It’s how you can boost your income or find a full-time means of making money through your content.

6. Provide premium paid content

A lot of TikTokers share premium content on external platforms such as Patreon to provide exclusive content to their most devoted fans. This may comprise things such as behind-the-scenes recordings, opportunity to access new content before others, or customized messages. As a TikTok creator, you can decide the price of your premium content and charge a monthly fee to fans who subscribe to it.

There is another way through which TikTok creators can provide their followers with premium paid content. The feature is called Series which lets creators post lengthier content only meant for subscribers. A piece of content on Series can be up to 20 minutes long and as a creator, you can set your own price.

Premium content is an ideal way for creators to make extra money and form a closer bond with their fans. It also provides creators with an opportunity to share exclusive content that they would not like the general public to have access to.

7. TikTok Shop

Some time back, TikTok came up with an e-commerce feature called TikTok Shop, providing creators with another opportunity to earn income.  It lets creators sell products within the app itself. The products could belong to the creators or companies that have registered themselves as sellers on TikTok Shop. The introduction of TikTok Shop further streamlined the buying experience for users and provided creators with an ideal platform where they could display and sell their wares.

To be able to use TikTok Shop, creators must be 18 years or more and fulfill certain criteria i.e. have at least 5000 followers and comply with the TikTok community policies.

Some creators on TikTok are earning more than 5000 USD a month as a commission by offering exclusive content. They leverage TikTok’s special features like SEO keywords and TikTok Lives to generate traffic for their e-store and form a deeper bond with their audience.

8. User Generated Content

A lot of TikTok creators who enter into a sponsored or an affiliate collaboration with a brand may be asked to churn out user-generated content. UGC is used by a brand organically in its social content, in-house marketing, TikTok Shop, or paid ads.

UGC is considered to be authentic and diverse and therein lies its beauty. It exempts a brand from the need to hire a whole production team to create content for any new launch or initiative. By hiring creators, a brand can get the same thing done at a minimal cost.

In numerous cases, creators negotiate a flat rate with their brand partners and also seek their approval to use the content in their marketing initiatives.

9. Donations and Live Gifts

Those using the Live feature on TikTok can benefit from ‘Diamonds’, a donation-oriented ‘Live Gift’ feature.

Creators can turn on this feature as they go Live. While enjoying the Live video, viewers can express their liking for the content by gifting a ‘Diamond’.

1 diamond is worth 0.005 USD, which means 1000 diamonds can fetch a creator 5 USD. Based on factors such as reach, audience interest, and engagement, creators can rake in a good amount of money, particularly those who have a large number of followers.

10. Dealing with Physical Goods

Many TikTok creators cash in on their influence and the trust that they enjoy amongst their audience to sell physical goods. By selling things that their audience can connect with, creators can enjoy their audience’s support in real life as well.

Dealing with physicalts may really seem like a big deal; however, there are companies that have made this task easier for their creators by offering assistance in every area like sourcing, manufacturing, shipping, and customer support.

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11. Digital Products and Services

Creators with expert knowledge or mastery in a specific field can use their skills to make money by giving coaching or selling e-products and services like e-books, consultancy, online courses, etc.

Whether it’s about offering tips on health, beauty, finance, or career advancement, TikTok creators can present their expertise in the form of exciting online offers that can allow others to acquire new skills.

By rendering their services in the manner discussed above, TikTok creators can present themselves as thought leaders and create an extra source of revenue as well.

12. Run TikTok ads

A sizable number of youths are present on TikTok, making its marketing a powerful advertising means for brands looking to sell their offerings to Gen Z. TikTok ads have simple yet powerful tools to let you reach out to millions through your ads. Ad formats are not the same in every region but they all allow you to customize your targeting based on factors such as age, location, interest, and more. You can select those formats that will serve your brand.

The most popular TikTok ads are as follows:

In-feed video: Visible on the For You Page of TikTok users who fulfill your targeting criteria.

Brand takeover: This type of ad expands to cover the entire screen it’s shown on for a few seconds before becoming an in-feed video ad.

There are other types of TikTok ads too that you can use but some are only meant for some specific accounts.

13. Collaborate with a creator

As per the report, a good percentage of Gen Z and millennials value the collaborations between brands and creators. TikTok has a prospering community of creators and gives you the opportunity to associate with influentials with a lot of engagement.

You have to find the right creators who can properly promote your brand amongst their audience for creator-coined branded content enjoys a much higher engagement rate.

Creator Marketplace is where you can find content creators. By following just a few steps, you can get in touch with influencers who you can run campaigns with. While locating creators, you have to keep business objectives, budget, and industry in mind and make a data-based decision by considering performance and audience metrics.

Creator Marketplace has certain eligibility requirements, allowing only some select creators to become its members. This, however, gives marketers the belief that they will be partnering with some of the top influencers of TikTok.

14. Sell TikTok accounts

If you are not willing to wait for the long months that growing a TikTok account organically entails, you can think of purchasing an established account to enjoy a considerable rise in your follower count.

To make money by selling TikTok accounts, creators need to focus on topics that their buyers can sustain. This will enable the buyer to keep on posting similar content without letting their follower engagement go down.

Brands looking to buy an established account must do their homework. If an account has enough followers but its engagement is low, it may not give the desired return. Also, the account must serve the target audience and the content should be in alignment with the brand and its objectives.

Brands can buy an account with active followers from platforms such as 123accs, Accfarm, and Fameswap.

15. Publish sponsored posts

As a smaller initiative, brands can go for sponsored posts by paying creators for the promotion of their products in organic posts. Brands have the option of sponsoring single posts or an entire series. If the initiative clicks, you can work more on the post to further increase its reach.

Conclusion

Here’s hoping the above measures allow you to learn How To Make Money on TikTok and find a new and viable source of revenue whether you have 1 million views or 1000 followers.