Do you want to make money on TikTok?
TikTok influencers have successfully secured TikTok as a source of income: on average, companies pay $200 to $20,000 per branded TikTok video!
Launched in the international market in September 2017, TikTok has become a booming social media platform with 800 million monthly active users worldwide. Around 50% are under 34, while around 26% are between 18 and 24 years old.
With such a considerable size, TikTok has remarkable potential to generate extra income for individuals and businesses. In this article, we introduce eight proven ways on how to make money on TikTok.
We also analyzed how much TikTok creators make and how to become TikTok famous in another detailed guide.
Now, are you ready to start making money on TikTok? Here are 8 practical suggestions.
Affiliate Marketing
Affiliate marketing on TikTok is often realized through unpaid, organic content, or paid advertising.
One way of affiliate marketing is to add promo codes in your content.
You can coordinate with the brands you’re collaborating with to generate a unique code just for your videos to offer your viewers a promotion discount.
It would work best if the promo code is imprinted with your identity. For example, it could be linked to your TikTok ID.
In this way, it will be easier for the viewers to remember and apply the discount code.
Here are some top affiliate programs to join:
Sponsored Posts
Post sponsorship is one of the significant income sources for TikTok influencers. Companies collaborate with TikTok influencers with a substantial and relevant fanbase by sponsoring their videos for better publicity and authenticity. According to Business Insider, the average income for sponsored videos ranges from $0.01 to $0.02 per view
Drive Traffic to Other Channels
TikTok is famous for the short duration of videos and its highly customized and intelligent “For You” page.
It means even one single carefully planned and niche-specific video has the potential to drive much more traffic than regular channels on social media.
To capitalize on the tremendous viewership it offers, you can drive traffic to your other channels.
To do so, add links to your social media profiles (e.g., Instagram, YouTube, Facebook) and personal website or blog on your TikTok profile page.
The easiest way to make money with affiliate marketing is actually having a website that you can drive traffic to. You can read our guide on 5 easy steps to set up a website.
Ultimately, you can get started with Webflow or set up a WordPress blog with Bluehost.
Once your viewer enters your website, you have a piece of content that guides them through the affiliate product you’re selling. It can be a product review or a how-to guide for the product. With the compelling content you create, it is much more likely that your audience will purchase with your affiliate link there.
Additionally, you can monetize your TikTok viewership is to drive traffic to your YouTube videos. This way, you can directly monetize with YouTube ads and obtain potential YouTube video sponsorship in the future.
In the end, you will drive more traffic to your monetization channels and uncover more earnings potential.
To better manage multiple social media profiles, you can use social media management tools like:
TikTok Ads Platform
TikTok has introduced paid ads, including in-feed native videos and hashtag challenges, to provide brands with more opportunities to market their products. The Ads Platform could also be a money-earning resource for you!
In-feed Native Videos
TikTok in-feed native videos allow video ads to run for a duration of 9 to 15 seconds. TikTokers can take part in starring, shooting, planning, and promoting the in-feed native videos.
Besides, brand owners and marketers can promote company products with in-feed native ads. This form of advertisement is deemed more appealing to Gen Zs. It means opportunities for marketing targeted at a younger audience.
Hashtag Challenges
TikTok users respond notably well to challenges. TikTok challenges refer to tagging others on TikTok to produce and share a particular genre of video. Like in-feed native videos, the Hashtag Challenges are typically more subtle than the conventional forms of marketing.
If you want to promote your products through a Hashtag Challenge, try including the product in a fun way!
TikTok for Business is a powerful marketing tool that allows businesses to reach and engage with a global audience through short-form videos. With its user-friendly interface and extensive targeting options, businesses can create captivating content, collaborate with influencers, and run effective advertising campaigns to promote their products or services.
TikTok's algorithm ensures that businesses' content is shown to the right audience, maximizing brand exposure and driving conversions. Whether it's building brand awareness, driving website traffic, or increasing sales, TikTok for Business provides businesses with the tools and resources they need to succeed in the ever-evolving digital landscape.
Collect Virtual Gifts
Another way to make money on Tiktok is to live stream and receive virtual gifts with its built-in monetization feature. You can unlock the live streaming feature once you accumulate over 1000 followers.
Your followers can purchase coins at $1.29 per 100 coins and use them to buy virtual gifts to send you during a live stream. You can convert the gifts to ‘diamonds,’ which will be cashed in your PayPal!
Note: you can withdraw the money upon earning $100, and you can’t withdraw more than $100 per day.
Manage Influencer Campaigns
Managing influencer campaigns refers to your role as a building bridge between influencers and brands. As a middle person or a broker, you connect the influencers to the brands and facilitate their negotiation. This tactic may work best if you are more interested in connecting people and communication.
Being an intelligent platform, TikTok already has a built-in platform to manage influencers and brands. However, since the marketing potential of TikTok is ever-growing, various TikTok marketing agencies are taking initiatives and making money through referring brands to influencers and vice versa.
Up till now, given TikTok’s relatively short history, the marketing agencies of TikTok are not as comprehensive as that of YouTube and Instagram. If managing influencer campaigns is what excites you, how about starting a TikTok marketing agency of your own?
Your Own Branded Merchandise
No matter what stage of TikTok marketing you’re in, you can continually develop your own branded merchandise. Any products relatable to your niche and sound quality can be the beginning of your exciting brand.
Suppose your TikTok fans follow you primarily for jewelry inspirations. In that case, you can start your own branded ring and necklace collection!
At the start, it’s better not to build up a big inventory to save costs.
You can get started with dropshipping and pick high-quality suppliers like Spocket to design your products. It takes away the trouble of managing inventory and owning physical products. This way, you can start your brand with minimal capital and huge growth potentials!
Excited about starting an online business, but not sure what you want to sell? Shopify offers a free Big List of Business Ideas has over 100 trending products with high sales potential.
Events Appearance
Event appearance is another way TikTok influencers make money. Similar to the concept of celebrity appearance at events, influencers can draw traffic, attention, and visibility to a brand. However, TikTok influencers’ earnings on brand events differ depending on the scale of influence of the TikTok user, the activities involved, and the duration.
If you are a major TikTok influencer, your appearance at brand public events can be a significant income source. Don’t be afraid to connect with the brands and build a relationship!
How to Make Money on TikTok FAQ
According to Datareportal, TikTok has reached 800 million monthly users in 2020. The statistics demonstrate the great user base and the market size that TikTok offers and the tremendous and unprecedented growth potentials of TikTok.
Top TikTokers earn $50k to $150K for one single successful brand partnership. A TikToker with more than 100k followers maintains a monthly income of $200 to $1,000, while a TikToker with more than 1 million followers can earn between $1000 to $5000+ per month.
Famous TikTokers include Loren Gray (49.5m followers), Zach King (52.8m followers), Addison Rae (69.9m followers) and Charli D’Amelio (100.2m followers).
Conclusion
If you are a TikTok enthusiast and are planning to make money on TikTok, we hope the above 8 ways inspire you to secure an extra source of income.
Next up, learn more about how to accumulate a fan base on TikTok!
Further read:
10 Ways to Make Money Online Right Now (US$10k+)
How To Make Money On YouTube Without Making Videos
