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How to make money on TikTok


 
According to statista.com , TikTok is the sixth most used social media platform in the world.

This presents an opportunity to make money with TikTok as you can take advantage of the platform to make content that allows you to connect with an audience and build a fan base. Once you have this, you will be able to monetize your content and start earning money on TikTok.

If this is something that interests you, here are some tips and strategies so you can start monetizing your videos and earn money with the TikTok application.

1.Can you make money on TikTok?

The short answer is yes! There is definitely money to be made on TikTok.

As with other social media platforms like Instagram and YouTube , making money on TikTok can generally be categorized into three segments:

1. Direct monetization on the platform

This category encapsulates all those content creators on TikTok who receive a payment directly from this social network.

2. Partnerships and Paid Sponsorships

This segment refers to all that content which is created and sponsored by a brand and/or company. This content is intended to generate more sales of the product/service that the company offers through a collaboration with popular creators on the platform.

3. Off-the-shelf sales

As a content creator on the TikTok platform, you can use your videos to get new followers and then invite them to navigate outside the application to visit your website or buy a product. These products can be yours or from other companies as we will mention later.

2.TikTok Creator Fund

This resource is basically a money fund or pool that TikTok distributes among all the most popular content creators within its platform.

As a content creator, you can apply to be a member of this fund if you have at least 10,000 followers, received at least 100,000 video views in the last 30 days, and have met some other requirements, such as being 18 years of age or older.

How much money can you expect to earn from the TikTok Creator Fund?

The answer is a bit confusing. The TikTok creator fund page states the following: “Several factors influence how funds are calculated for videos on the show. These elements include video views, video interaction, as well as ensuring that videos comply with the Community Guidelines and Terms of Service.”

Unless you are really hustling and consistently generating hit content, this fund is probably not your main source of income.

But don't worry, the TikTok Creator Fund is just one of several ways to earn money on TikTok. Continue reading to learn other ways to earn money with this social network.

3.Live broadcasts (Live Streams) 

Did you know that you can make money doing live broadcasts? Live streaming is another direct way to earn money on TikTok.

During live broadcasts, followers can donate gifts purchased with virtual currencies (purchased on the platform) to you.

Later, you can convert these gifts, or rather donations, into “diamonds” (virtual TikTok credits) and charge them to a PayPal account or directly to your bank account.

In order to receive these gifts from your followers you must be 18 years or older and for followers to buy coins, the user must also be at least 18 years old.

Four.Affiliate Marketing

Affiliate Marketing or affiliate marketing is one of the most popular ways to earn money through social networks, and TikTok is no exception.

As an affiliate, you promote the products and services of other companies. When one of your followers clicks on one of your links and makes a purchase, you will earn a percentage (commission) of the money that user spent.

Many people like affiliate marketing because it doesn't require you to create your own products and/or services. And regardless of the type of niche you're developing your content in, there are endless products and services you can promote to your followers.

Affiliate Marketing is one of my favorite ways to make money with TikTok and social media in general. If you get a big enough following, you can generate a sizable income. Remember that affiliate marketing is most effective when you promote products and/or services that you really know. I recommend you not to be one of those creators who sponsor an endless number of products that they don't really know about, nor have they used simply to get more commissions.

5.Publish sponsored posts

Much like affiliate marketing, sponsored posts are a great way to make money on TikTok.

Brands or companies will pay you to present their products and services and make sponsored content. Unlike affiliate marketing, sponsored content is not dependent on how many sales are made from your content. Companies and businesses pay you for making the content, not for the sales that are made.

You don't need to be a popular influencer or one of the best creators to be able to use this strategy and earn money. Smaller brands will still pay good money to work with micro -influencers who have a strong and engaged community, even if your audience isn't very large yet.

You can approach brands/companies proactively or wait for them to contact you. Always remember to be

very formal when you communicate with a company and emphasize how you will benefit their business.

6.Sell ​​your own product

One of the best ways to earn money on the TikTok platform is by selling your own products. This can take some time as you need to develop a sizable fan base and create some product. But, selling your own products will give you more control over your brand and income on the social network.

When you sign up for the TikTok creator pool or use affiliate marketing, you can only keep a portion of the money earned through your content. And not only that, the company you are working with can change the terms of your contract at any time.

That is why owning and selling your own products is quite an attractive option to make money on TikTok. When you sell your own products, you keep 100% of the profit. This will allow you to build your own brand and set yourself up for long-term success.

7. Tips to Get More Followers on TikTok

First of all, if you want to build a following so you can make money on TikTok, you need to understand your audience. That is, you need to understand their tastes and needs well.

Know your audience

On TikTok, your audience is likely to be younger. Most of the users on the app are under 30 years of age. Many people tend to think of TikTok's popularity with Gen Z as its defining characteristic, but this could change quickly.

Recent surveys by Fortune magazine show a growing number of millennials joining the platform, so catering to TikTok's older users could be a good strategy for the future.

Type of content

TikTok content varies widely. What works for one audience may not work for another. The type of content you post should be guided by the interests of your audience, but there are some common features of TikTok content that your user base is likely to be more receptive to:

Authenticity

The most popular creators can range in their talents⁠ from dancers to comedians to philosophers⁠ but what they all have in common is their willingness to be authentic.

Engagement with your audience

TikTok offers lots of unique ways to engage with your audience⁠ like its Q&A feature, duets, and video responses to comments. TikTok users expect a more “personal” touch, so use these features often.

frequent posts

Having a constant stream of content will keep you at the forefront of your followers' minds, add value to your content in the eyes of TikTok's algorithm, and give you more opportunities to go viral and expand your audience reach.

There is no single approach to TikTok, but having a solid understanding of your audience will put you in a better position to find the best ways to make money on TikTok.

Conclution

Being a creator in the year 2023 means much more than before. Creators are no longer just artists. They are artists, entrepreneurs, marketers, salespeople, accountants, founders, CEOs⁠, and everything in between.

In the builder economy, stars are self-made⁠: their great opportunities come not from outside investment, but from their own creativity, passion, and desire to build something unique.

Time is money⁠, and making more money from your art gives you more time to create art. If the money itself isn't rewarding enough, the extra time you'll buy will be.

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