How to Make Money Off TikTok: Your Ultimate Guide
TikTok is a social media sensation that has taken the world by storm. With over a billion active users globally, the platform offers a creative outlet for users to express themselves through short-form videos. But did you know that making money off TikTok is possible? In this article, we’ll explore various monetization strategies for TikTok influencers, small businesses, freelancers, and anyone else looking to cash in on the platform’s popularity.
7 TikTok Monetization Strategies That Actually Work
If you’re looking to turn your TikTok account into a moneymaker, here are seven proven strategies that you can leverage:
1. Creator Fund
The Creator Fund is TikTok’s official monetization program. It rewards creators for their content based on views, engagement, and overall performance. To qualify, you must meet specific requirements, such as having at least 100,000 followers, 100,000 video views in the last 30 days, and adhering to TikTok’s community guidelines.
If you’re approved for the Creator Fund, you’ll receive a share of TikTok’s advertising revenue. The payout varies by country and depends on the number of views and engagement your videos generate.
Example: Creator Tabitha Brown has over 4.5 million followers on TikTok. Her wholesome videos on veganism and mental health have earned her over 154 million likes on the platform. She joined the Creator Fund program in 2020 and has since made a six-figure income from her TikTok content.
2. Brand Deals
In recent years, brands have realized the worth of connecting with loyal online audiences through social media. TikTok presents an opportunity for brands to reach millions of users worldwide through influencer marketing.
To land brand deals on TikTok, you must first establish a loyal following and a niche within the platform. Identify brands that align with your content and reach out to their marketing team or through influencer marketing agencies. A brand deal could involve creating sponsored content, product placement, or affiliate marketing.
Example: In 2020, Dunkin’ Donuts launched a TikTok campaign to promote its new refreshers. It partnered with TikTok creator Charli D’Amelio, who has over 100 million followers, to create a dance challenge using the hashtag #DunkinRefreshContest. The campaign garnered over 687 million views, boosting the brand’s visibility and engagement.
3. Merchandise Sales
You can create merchandise using your brand or niche and sell it to your followers on TikTok. Merchandise can take different forms, such as clothing, phone cases, or even eBooks. The key to making sales through merchandise is to create products that appeal to your audience and align with your content.
Example: Anthony Barajas, a popular TikTok creator, sells signature merchandise such as stickers, hats, and even a bespoke coffee mix. He promotes them on his TikTok account, where he has over a million followers, using the hashtag #supportyoufam.
4. Virtual Gifts
TikTok allows users to purchase virtual gifts, such as emojis, for their favorite creators during live streams. The virtual gifts translate to real money, with TikTok taking a cut from the transaction. To benefit from virtual gifts, you must have an active live stream audience.
Example: TikTok creator Addison Rae was gifted over 78,000 virtual roses during a live stream in 2020. The roses translate to $78,000 in real money, a testament to her massive following and engagement on the platform.
5. Crowdfunding
Crowdfunding is a relatively new monetization strategy for TikTok creators. Platforms such as Patreon and Ko-fi allow fans of a content creator to donate money to their work. Creators can use crowdfunding to finance their projects, travel to events, or cover for equipment costs.
Example: Comedian Bert Kreischer, popular for his skits and storytimes, launched a successful crowdfunding campaign on Patreon. He charged different levels of subscription, with backers having access to exclusive content, merchandise, and personal shoutouts.
6. Fan Club Memberships
Fan clubs offer a way for creators to monetize their content by gating access to a portion of their content. Creators can create exclusive video content, host meet-and-greets, or offer behind-the-scenes looks. Fan clubs are popular with influencers who’ve cultivated a dedicated fan base.
Example: Lauren Riihimaki, a DIY and lifestyle influencer, has a dedicated fan club on Patreon. Her fans can access exclusive content, giveaways, and monthly merch boxes. Lauren’s fan club boasts over 5,000 members, generating a steady stream of income from her TikTok content.
7. Consultation and Coaching
As a TikTok expert, you can offer consultation and coaching services to other creators and small business owners. You can educate them on TikTok content creation, strategies, and engagement tips. Consultation and coaching are ideal for established TikTok creators looking to expand their revenue streams.
Example: TikTok creator and social media strategist Taylor Loren offers consultation services for individuals looking to build a personal brand on TikTok. Her coaching services include branding, content creation, and engagement strategies.
The Ultimate Guide to TikTok Marketing for Small Businesses
Small businesses can leverage TikTok’s massive global audience to promote their products and generate sales. Here’s a roadmap on how small businesses can start making money off TikTok:
1. Create Branded Content
As a small business owner, you can create engaging and entertaining content aligned with your brand image. Create videos that showcase your products, and partner with creators to promote your brand. Make your content lighthearted and easy to consume.
2. Join Hashtag Challenges
Hashtag challenges are popular on TikTok, and they offer small businesses an opportunity to increase their brand awareness. Create a challenge that is aligned with your brand and encourage users to participate and create content using your brand’s hashtag.
3. Host Giveaways
Hosting giveaways is an excellent way to boost engagement and increase your brand’s visibility on TikTok. Offering a prize for people who participate in your giveaway can incentivize users to create content using your hashtag.
4. Collaborate with Influencers
Collaborating with influencers can boost your brand’s reach on TikTok and increase your sales. Find influencers who align with your brand image, and partner with them to create sponsored content.
5. Invest in TikTok Ads
TikTok offers different types of ads, including in-feed ads, brand takeovers, and top view ads. Small businesses can use these ads to generate leads, increase sales, and promote their products.
TikTok for Freelancers: How to Leverage the Platform to Make Money Online
Freelancers can use TikTok to promote their services and increase their client base. Here’s how to start:
1. Identify Your Niche
Identifying your niche is essential when promoting your services on TikTok. Determine what problem you are solving for your clients and create content that resonates with them.
2. Showcase Your Work
Showcasing your work through video content will help potential clients understand your expertise and what you offer. Create short videos showcasing your service and provide examples.
3. Pursue Brand Deals
Collaborating with brands can help you generate income as a freelancer on TikTok. Select brands aligned with your niche and reach out to them to create sponsored content.
4. Capitalize on Virtual Gifts
Virtual gifts are popular on TikTok and can translate to real money for freelancers. Encourage your followers to donate virtual gifts during live streams, and offer shoutouts and exclusive content to donors.
5. Sell Merchandise
Merchandise sales, such as eBooks or online courses, can generate significant revenue for freelancers on TikTok. Determine what products align with your niche and create content that promotes them to your audience.
Unlocking TikTok’s Earning Potential: Tips & Tricks for Aspiring Influencers
If you’re looking to become a successful TikTok influencer, here are some tips and tricks:
1. Be Consistent
Posting consistently on TikTok is key to building your following. Aim to post at least once a day or several times a week.
2. Engage with Your Audience
Engage with your audience through comments and live streams. Building a community around your content is essential for creating a loyal following.
3. Create a Brand Persona
Create a brand persona that resonates with your audience and aligns with your niche. Developing a recognizable brand persona can help build your following.
4. Collaborate with Other Influencers
Collaborating with other influencers can help increase your reach on TikTok. Find influencers who align with your niche and collaborate to create content that resonates with both audiences.
5. Monetize Your Following
Once you’ve built a following, you can monetize it through sponsorships, merchandise sales, and advertisements. Determine what monetization strategy aligns with your brand and niche.
From Skits to Paychecks: A Step-by-Step Guide to Making Money on TikTok
Here’s a practical roadmap to making money on TikTok:
1. Start Small
Begin by creating content for your niche and building a loyal following. Establish your brand persona, interact with your audience, and create quality content to attract more followers.
2. Network with Other Creators
Collaborate with other creators on TikTok. Networking can help you grow your audience and increase your visibility on the platform.
3. Develop a Monetization Strategy
Determine what monetization strategy aligns with your brand and niche. Options include virtual gifts, merchandise sales, ads, and brand deals. Select a strategy that aligns with your goals and begin monetizing your following.
4. Hone Your Skills
Keep improving your skills and content creation to keep your audience engaged. Seek feedback from other creators, experiment with new formats, and stay current with TikTok trends.
Conclusion
Making money on TikTok requires effort, but with the right strategies and hard work, it’s possible to monetize your content successfully. Whether you’re a small business owner, freelancer, or aspiring influencer, TikTok offers ample opportunities to increase your revenue and grow your brand. So, start creating content, building your following, and monetizing your TikTok account today.