Ever fantasized about being paid big bucks to play on your phone all day?
This is what it seems to be when you figure out how TikTok can be monetized. It’s a reality that we see every day: There are many influencers making millions each year from their TikTok accounts.
This is no surprise. TikTok’s growth has been phenomenal since its 2016 debut. It is the first app that Facebook doesn’t own to reach 3 billion installs .
Although it is not an easy task, monetizing your TikTok accounts can be done if you are willing to put in the effort and have a strategy.
This article will discuss 7 ways you can make money with TikTok.
Let’s get started.
TikTok: 7 ways to make money today
There are many ways to make money with your favorite app. Let’s take a look at the top TikTok monetization methods for 2023.
- Be a TikTok Influencer
TikTok is a great example of this concept.
You can build a following that is loyal and engaged, which will allow you to secure influencer partnerships with brands around the globe who want to connect with you.
A brand may ask you to promote its products or services through your TikTok videos as part of an influencer marketing agreement. Most people receive money or other freebies from their company.
Charli d’Amelio is one example of the most influential TikTokers. She’s also a spokesperson for P&G, which is one of the largest brands in the world.
Some people believe that to be an influencer you must have millions of followers, like Charli.
Many brands prefer to work with influencers, or those with fewer followers. The definition of micro-influencers can vary depending on the person you are talking to and the size and market of the market they are targeting. However, it is generally between 5,000 to 50,000 followers.
It’s important to choose a niche for your account and posts in order to be a successful influencer. Brands will know if you are a good fit for their products and services if this is done.
- Grow and sell TikTok accounts
Many businesses want to be on TikTok but lack the resources or time to set up and grow accounts.
You could offer them TikTok growth acceleration. This can be done by selling TikTok accounts and growing them.
People have been selling social media accounts to make money for a long time. Ramy Halloun , 23, makes approximately $30,000 per year by using the TikTok monetization strategy.
TikTok accounts must have more than just a variety of videos. To sell them well, you will need to have a specific focus. A dedicated following and a focus are also important.
It is easier to sell niche accounts or themed accounts because they allow the buyer to continue creating the same content after the purchase, which allows them to keep followers.
If you sell an account with short videos about unboxing, your brand can keep posting these videos in the future.
Selling personal accounts is much more difficult because people may be attracted to the person, rather than to the content.
You will need to create a strong content strategy and engage with your followers frequently to flip TikTok accounts. Buyers can also get advice on how to increase engagement on the newly purchased account.
- Advertise Sponsored Posts
Sponsored content is another way to make money with your TikTok account. Sponsored content is when brands approach you or you approach them to feature their products in your video. They pay you a fee in return for your services.
To build your portfolio, you can begin by working with smaller brands. To find out if your local business is interested in being featured on TikTok, reach out to them. You might consider charging a minimal fee at first, and then increasing your fees as you gain more recognition as a TikTok creator.
If you prefer to charge high and have brands come directly to you, you might consider joining the TkTok Creator Marketplace. TCM, or TikTokers Collaboration Platform, allows brands to connect with TikTokers and run marketing campaigns.
To apply, you must have at least 100,000 followers and more than 100,000 video likes within the last 28 days.
If you are a beginner creator, you should focus your efforts on creating creative TikTok videos you can share with companies to earn sponsorships.
- Sell your own products
You might be eligible to add a shopping tab or product link to your profile if you are from the US, Canada, and the UK.
Shopify and TikTok have partnered to create the shopping tab. It was created to assist TikTokers who have a Shopify store to promote their products via the app. Clicking a product link will redirect users to the merchant’s Shopify shop for purchase.
While it is not an easy way to make money on TikTok you can still make money by selling your products.
Tip: You can promote your products on TikTok by creating unique TikTok videos. If you own a company that sells food products you can create 30-second recipe videos to share on TikTok. Get creative!
- Collect Donations
TikTok offers a unique feature called coins. These coins can be collected from your most loyal and devoted followers if you are eligible to livestream. These coins can then be exchanged for cash.
Let’s say your biggest fan buys coins. They start at $1.39 per 100 coins and go up to $139.99 for 1,000 coins.
Live streaming allows you to send coins or buy gifts from the user. Then, you can turn your coins or gifts into diamonds and then use PayPal to convert the diamonds into cash.
It’s pretty cool, right?
Live streaming is not available to all users. TikTok selects livestreamers from its users. This means that you will need a solid account to monetize TikTok.
Douyin, the Chinese version of TikTok has a similar feature. During a live stream, account owners can offer a “shopping basket” option to allow them to directly sell their products or services.
Many people believe that this feature will eventually be available to TikTok — which would be an amazing way to make money on TikTok.
- TikTok Consultant?
TikTok can be a difficult platform for many companies to master. Trends can change quickly due to the unique channel.
You can be a viral sensation in a matter of hours, and you could easily lose some of your followers.
This is why TikTok consultants have high demand.
TikTok consultants can be hired by brands to increase their brand’s presence and traffic to their TikTok accounts.
You can make TikTok videos that are trending and teach others how to do it for a fee. This is a great way for you to make money and build business relationships.
You must be able to show your ability to get millions or thousands of views on videos to succeed as a TikTok consultant. It is also important to be able to use the different features of TikTok.
These are the things you need to do if you have a lot success with TikTok.
- Start A TikTok Talent Management Agency
Are you an experienced talent manager, social marketing, and/or production professional? You could start a business to consult and manage accounts for TikTokkers.
It’s almost like actors having their own talent manager.
This is especially useful for people who have gone mainstream overnight. They create a great video, get up every morning and then BAM! They have more fans than ever, but they don’t know how to keep the momentum going.
As a talent manager, you can help. Influencers can benefit from your expertise:
- Partner with brands that align with your image and interests
- They can negotiate deals and agreements for them
- Discuss with them a content strategy that will maximize their exposure.
- Find new ways to make money for both of you!
What is the Maximum Money You Can Make From TikTok
You don’t have to have 20,000,000 followers to make TikTok money, but you do need to have strong and engaged followers to make it a money-making account.
The number of followers you have is a major factor in influencer marketing strategies. This determines how much money you can make. It is no secret that popular accounts can make tens of thousands to even a million dollars per post.
There are many tools that will help you estimate how much money your account stats can make. The TikTok money calculator from Influencer Marketing Hub is a great one.
Consider TikTokker Kody Antle. His dad’s appearance in the viral show Tiger King was his claim to fame.
Kody could be earning up to $27800 per post with 28 million followers and an engagement rate of 0.75%.
Your earnings will be lower if you are still in the micro-influencer stage.
Carlos Ayala, for example, has 112,900 followers, a 3.07% engagement ratio, and is estimated to make $114 per post.
Remember that earnings can vary depending on the strategy you use to monetize TikTok and how you approach bringing that strategy to fruition.
How many followers do you need to make money on TikTok?
TikTok could make you money with just 1,000 followers. You’ll need to find sponsors for your content.
Engage with your audience via live video, to become a fan favorite or earn gifts.
TikTok lets users send gifts to their favorite creators in various amounts and forms. You can convert any gift into a TikTok diamond once it has been received. Once you have earned enough diamonds you can convert them into cash or withdraw the money through PayPal or another supported payment method.
The minimum withdrawal limit for TikTok is $100 TikTok allows creators up to $1,000 per week.
You can also apply for membership to the TikTok creator fund. TikTok’s Creator Fund is a program that rewards creators who produce quality content and provide value to their audience.
These are the requirements to apply for TikTok Creator Fund
- Your TikTok account must have at least 10,000 followers
- In the last 30 days, you have received at least 100,000 views.
- You must be at least 18 years old and reside in the UK, USA, Germany, France or Spain.
This option is for creators who have built a following over the last few months…