Wondering how to make money on TikTok? With eight new users joining every second, here’s the secret formula to making money on the fastest-growing social media app.
As the most downloaded app of 2022, TikTok is one of the fastest-growing social media platforms in the world. The app’s explosive growth has led to a shift in demographics — only 47% of its users are between the ages of 10 and 29, compared with 62% last year. Trends are ever-shifting, as those making money on TikTok are well aware.
How do you make money on TikTok?
First, are you promoting an existing business through TikTok, or are you the business you’re looking 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 TikTok’s Creator Fund will need to dedicate more time to 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 businesses 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 your published content so viewers can easily buy them.
Another excellent avenue for an existing business to drive traffic to their content through TikTok is the tried and true method of ads. Ads can also redirect back to your TikTok Shopping tab. You can run image ads in-feed to promote your products or run TopView (full-screen) ads, which are great money-makers.
TikTok Creator Fund
The TikTok Creator Fund is a program that pays users for creating engaging content. The more engagement your content gets, the more TikTok will pay you. Naturally, TikTok wants users to stick around to generate more advertising money, and they’ll spend money on their creators to help achieve that goal.
As the program is still relatively new for TikTok, expect to see it evolve as time goes on, as similar programs from YouTube and Twitch certainly have. You need at least 100,000 video views in the last 30 days to join the TikTok Creator Fund.
Affiliate marketing allows you to earn money through a percentage of every sale when a user clicks through your link and makes a purchase. These affiliate links are an excellent way to make money on TikTok, whether you’re an existing business or not. Place an affiliate link or coupon code in your profile, or redirect traffic to your Facebook, Twitter, Pinterest, or other accounts where you can plant more affiliate links.
TikTok started as a lip-syncing app, and nearly every video on the platform has background music. If you have a large following with lots of engagement, musicians will pay to have you promote their music in your videos. Likewise, you can use TikTok to promote your music if you’re a musician.
Many brands will pay creators to feature their products and services, and you don’t need to be a significant influencer to get started. An excellent way for smaller content creators to grow their platform is to publish sponsored content. Many brands are known for reaching out to creators regularly but don’t shy away from approaching brands proactively.
The TikTok Creator Marketplace, which connects brands with influential creators, is a great option to generate more sponsorships for those who meet the criteria. Only creators with over 100,000 followers and 100,000 video likes within the last 28 days can apply to join the TikTok Creator Marketplace.
You can offer free content through your TikTok and entice followers to support you on Patreon to unlock premium content. Premium content can be anything from behind-the-scenes sneak peeks, community access, public shoutouts, live chats, swag, or exclusive content (such as art or music). Get creative! Your loyal followers will want to consume it all, but make sure you make your Patreon content valuable, so followers will find their purchase worthwhile.
TikTok is partnered with Stripe to enable tip collection directly on your profile. You can also utilize tip collection through Venmo, PayPal, Cashapp, or your money collection service of choice through links on your profile. Collecting tips is an excellent way for your audience to support you, and it’s a good way to drive engagement.
Content creators are constantly finding new ways to make money as the landscape of online spaces shifts and evolves. If you have a tip for making money on TikTok that isn’t covered here, let us know in the comments.