7 Ways to Make Money on TikTok
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While the future of TikTok may be uncertain, the app is still around, and with it comes opportunities to earn money .
The application boasts more than 1 billion monthly active users. As reported, one statistic from Wallaroo Media, the average user opens the app eight times a day, spending an average of 95 minutes per day on the platform. That’s a lot of potential for monetization .
“Short-form content is consumed a lot faster than traditional video content, so the amount of videos consumed is much higher,” Adam Enfroy, an entrepreneur who teaches others how to grow their influence online, said in an email. “This makes it lucrative because of the faster view counts and subscriber growth.”
There are numerous ways to make money on TikTok, from selling sponsored content to promoting your products or services, soliciting donations and benefiting from the app's income-producing services.
1. Sell Sponsored Content
One of the best ways to make money on TikTok is through partnerships with major brands. But to land sponsorship deals, TikTokers need to first build an audience. This involves a lot of work, from posting multiple times daily to harnessing TikTok trends and new features.
Certain specialists suggest that you should have a minimum of 10,000 followers before attempting to approach possible sponsors. Having a higher number of followers increases your chances of securing a sponsorship agreement.
Given that the ad revenue per thousand impressions on this platform is quite minimal — only 2 to 4 cents for every 1,000 views — generating significant income through ads requires an enormous number of views," stated Enfroy. "Thus, cultivating a substantial audience and offering sponsored posts proves to be a more profitable strategy.
2. Utilize Short-Form Videos for Product Promotion
You can also use TikTok to promote your products through short-form videos, which are typically one to 10 minutes long.
Enfroy’s team uploads daily short-form videos on Instagram, TikTok and YouTube that highlight their expertise in online entrepreneurship and business software. The aim is to build brand awareness and encourage people to buy their business software.
Enfroy claims that his team has experienced a significant increase in digital sales by enhancing their brand presence through short-form content.
3. Monetize with the Creator Fund
The Creator Fund Is a TikTok initiative aimed at backing inventive content producers (individuals who frequently generate or upload videos onto the platform) by offering financial rewards as their follower count increases.
To join TikTok's Creator Fund, users need to meet certain criteria. First, you should be at least 18 years old. Additionally, your account needs to have a minimum of 10,000 followers and you must accumulate at least 100,000 video views within thirty days, along with meeting additional conditions.
However, according to many creators This route doesn't generate much income, yielding only a few cents per thousand views.
4. Utilize TikTok as a Gateway to Diversify Into Other Online Marketing Channels
Besides earning money on TikTok, you can utilize the platform to steer new users towards other marketing avenues such as your personal blog or YouTube channel, potentially leading to more sales or successful conversions there.
"TikTok serves as the starting point for online marketing," says Enfroy. "It offers the biggest reservoir of potential new users who can then be directed towards your other marketing platforms such as blogs, YouTube channels, and various social media profiles," he explained.
5. Request Contributions Via Live Giving
Certainly, you can utilize TikTok to request donations from your viewers directly. Through the app's Live Gifts feature, you have the ability to encourage contributions while broadcasting live on the platform.
However, you should note that your donations will come in the form of virtual coins that users choose, which eventually (after several more exchanges) can be traded for actual currency. Again, this isn’t going to be your golden ticket, but it’s another way to grow your revenue on the platform.
6. Use the Platform to Find New Opportunities
Numerous figures such as Addison Rae, a prominent social media star, actress, dancer, and singer, began their careers on TikTok. Her approach of leveraging the platform to showcase her abilities could serve as an inspiration for others with similar talents looking to follow suit.
She has excelled on all other platforms — performing even better than she did on TikTok — and is now recognized across households in the U.S.," Enfroy stated on his site. "Moreover, this influencer was invited by the renowned talk-show host Jimmy Fallon and has recently secured her own series on Netflix.
7. Collaborate with Influencers to Promote Your Goods and Solutions
Even if you're not a TikTok pro, you can still utilize the platform’s potential. money-making power By teaming up with an influencer (or several influencers) to promote your goods and offerings.
In other words, if You have an item to sell. , you might look into working with TikTokers to sell it with the help of their influence and promotion. This, of course, involves strong networking skills.
"It’s an excellent platform for e-commerce brands to increase their visibility and collaborate with influencers to promote their products," Enfroy stated.
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