Are you guilty of spending hours on end watching the endless number of TikTok videos you have found on the internet? TikTok videos have consumed a lot of our time and attention over the past few years, both as audiences and artists alike.
That being said, wouldn’t it be great if you could profit from the time you spend making videos and monetizing your TikTok account? You read that right, you can make money on this social media platform by learning how to use it to your advantage.
In this article, we talk about 10 different strategies you can employ to monetize your TikTok account while also boosting your engagement. Read along!
How To Monetize Tiktok (10 Methods)
In addition to selling your TikTok videos on the platform, there are a few other ways to monetize your content. Although, achieving a good amount of income requires building effective streams of income. Additionally, you must ensure that these channels are reasonable and sustainable in the long run. Here are eight different strategies to monetize your TikTok account:
1. Tiktok Creator Fund
The TikTok Creator Fund was created by TikTok in 2020 with the goal of assisting the platform’s creators in making money as their communities expand. According to a report, TikTok has set aside $200 million for American creators and anticipates that by 2024, the fund will be $2 billion worldwide.
Using the TikTok Creator Fund, subscribers who have creator accounts can make money off of their profiles. Before being accepted into the program and starting to receive payments from the platform, creators must meet a few requirements. Users of TikTok Creator Next who are qualified earn money from engagement and views on their videos. Additionally, you can get noticed and secure partnership and brand promotion deals.
2. Tiktok Creator Marketplace
TikTok collaborated with Shopify to introduce the TikTok creator marketplace, which enables you to collaborate with brands for potential strategic partnerships. Brands and creators can set up shop as authorized TikTok merchants and make sales within the app.
The Creator Marketplace facilitates partnerships in a quick and simple manner for both parties by bringing together the right brands and content creators.
You can register to be a vendor in the TikTok Seller Center if you are qualified for this feature. From there, you can control your inventory, sales, partnerships, promotional campaigns, and more. This feature, though, is currently only accessible in a few places.
3. Collaborate With Brands
Advertisers are eager to pay you to highlight their brand if you can convince them that your TikTok videos will garner attention. Brand sponsors are aware of TikTok’s large audience; expect understanding viewers’ perceptions and top-notch storytelling to be among your most important talents.
Many TikTokers believe that brand sponsorship deals are one of the most profitable ways to monetize TikTok videos. With sponsored posts, you’ll have a deal with a company to help market their goods and suggest them to your audience. Just remember to inform your audience about any paid sponsorships.
4. Live Stream On Tiktok
One of TikTok’s most helpful features for video influencers looking to make money is live streaming. Live streaming is a common feature on most social media, but TikTok stands out because it lets users buy “coins” with real money through in-app purchases. Followers can use these coins to send gifts to an influencer, and the influencer can then redeem those gifts.
However, TikTok does charge a fee and will give you 50% of your earnings. Even though this is frequently a small sum of money, it is still something! Making live videos will also aid in account growth and let brands know that your influence is expanding.
5. Become A Niche Influencer
Another fantastic TikTok revenue stream is influencer marketing. Before applying for the TikTok Creator Fund, TikTok creators must, at the very least, reach the minimum requirements of 10k followers and 100k monthly views. However, once you pass the 30-50k follower threshold, brands will start to take notice, and you can start to carve out a market niche for yourself.
To achieve this, use relevant hashtags, look for brand accounts that are relevant to your niche, and continuously deliver high-quality content. These are all strategies to attract brands’ attention for collaborations.
Niche influencers have a high income potential since brands understand that their customers acknowledge and believe those creators and their recommendations. If you don’t know how to use influencer marketing to boost your e-commerce business, then refer to our guide on Influencer Marketing for eCommerce stores.
6. Add Affiliate Links To Your Profile
You might be able to make money on TikTok by including affiliate links in your profile. You get paid a commission, a flat fee, or a percentage of sales each time a user taps on your links.
If you’re a member of a reputable affiliate program, such as ClickBank or Amazon Associates, this might work out perfectly. These partners may also occasionally offer a special discount code for you to mention in your content, and that your followers can take advantage of.
Additionally, TikTok does not permit personal accounts to include clickable links in the text of their content descriptions, but you can instruct your followers to simply copy and paste the link into their webpage or enter unique codes at the point of purchase.
7. Sell Boosted TikTok Accounts
It might take several months for a TikTok account to grow and get followers organically. However, if you want a quick boost in, you can purchase an already-boosted account.
Since the majority of brands lack the funds to invest in building a significant TikTok presence, they are ready to spend for accounts that have naturally grown in order to enhance engagement and boost brand popularity.
Although, brands who are thinking about purchasing a boosted account should do their research. If an account has a large following but poor engagement, it might not give you the results you want. Additionally, make sure the content is consistent with the brand’s objectives and that the account relates to the audience you are trying to reach.
8. Run Tiktok Ads
TikTok offers many fantastic organic monetization options, but if you want to increase the audience for your content, you might want to think about making in-feed ads using the TikTok ads manager.
Utilizing TikTok For Business to promote your brand may help you boost sales of your products and traffic to your website. This can be accomplished by employing branded hashtags, in-feed video ads, brand acquisitions, and promotional effects such as filters.
All ad formats, despite regional variations, allow you to target specific people based on their age, location, interests, and other characteristics. You can choose one or multiple formats depending on what suits your brand the best.
9. Sell Your Merchandise
Making merchandise that you can advertise on TikTok is yet another method to earn money on the app. Your audience is more likely to make a purchase from you if they enjoy your content and relate with you as a creator. The products you sell might be tangible items, such as t-shirts or homemade snacks, or digital one such as ebooks.
For example, if your brand is well-known enough, you can sell your followers merch such as hats, hoodies, and other prevalent items. Online digital product sales are another simple way to profit from your innovation. Imagine the number of people who would love to spend money on a book or an online course that would enable them to succeed.
10. Offer Personalized Shoutouts
If you have more than 10K followers, then you can charge a small account on TikTok to give them personalized shoutouts in your videos. It is a great way to make money and many TikTok celebrities do that to earn quick money. However, this method only works if you have a large following because people want shoutouts from big accounts to increase their reach.
You also need to decide a price point for it because there is no price marker for this method, so you need to experiment and see which price point will be best for you.
Related Read:
Conclusion: Post Sponsored Content, Apply For the Creator Program & More To Earn From TikTok
As a creator of Tiktok, there are many different ways for you to make money using your videos. It all comes down to figuring out which approach will increase your engagement and earnings the most. Most of the strategies listed above, if followed correctly, can help you improve your TikTok game and set you on the right track to monetize your TikTok account.
Additionally, you always have the option to switch to a different approach if one doesn’t work. You cannot ever understand what will become popular on an app or whether your content will give rise to a fresh trend.
FAQs
Anyone can make money on TikTok; they only need the right strategies and tools to grow on the platform. We also have mentioned different ways you can monetize your TikTok above.
To monetize your TikTok to start making money, you will need to cross the minimum followers’ threshold. For example – To get virtual gifts from your followers, you will need a minimum of 1000 followers to use the TikTok Live feature.
Many successful TikTok creators have multiple revenue streams, such as brand deals, product sales, fundraising drives, sponsorships, etc.
You need to have a minimum of 1000 followers to use the TikTok Live feature; after that, you can receive virtual gifts from your followers and turn those gifts into diamonds and then real money.
Creator Fund is a way to earn money through your TikTok videos; you just need to have a minimum of 100K on your videos in the last 30 days to join the Creator Fund. It converts your views into real money, which you can withdraw from it.
