Efua Aidoo

How to Make Money on TikTok

Whether you’re launching a new business venture or simply dabbling with a side hustle, social media (and particularly TikTok) offers the perfect platform to develop your craft, promote your product, and earn money whilst creating content around your unique offering. 

Promotion and monetisation (sales) go hand in hand, and TikTok offers a space to share your niche and get your product out there. The platform’s short video format opens the doors to building a loyal following and authentically connecting with your audience through engaging content – and ultimately making money!

To discover how to reap in the financial rewards of TikTok, keep reading…

Exploring the various Monetisation Options on TikTok

Exploring the various Monetisation Options on TikTok

TikTok offers a fertile land of opportunities for creators to capitalise on their content and monetise their product or offering. TikTok’s Creator Fund compensates creators based on their video performance, providing incentive to consistently deliver content that will resonate with their audience base. Creators can do as their name implies and get creative with their content – whether its conceiving of a new theme or trend, collaborating with brands for sponsored content, or partnering with a fellow content creator with aligning values – there’s ample opportunity to bring your brand and message to life, which in turn leads to monetisation.

TikTok Creator Fund enables eligible creators to earn money directly from TikTok based on how many times their video is viewed. This financial incentive naturally gives TikTokers the motivation to create catchy and captivating content to reel in the views and stop scrollers in their tracks – leading to even more creativity and traffic within the app, win win!

Another route for content creators to take is that of brand partnerships and sponsorships. By teaming up with brands or fellow creators who align with their branding, TikTokers can be paid to promote products or services in their videos, as well as gain exposure to a whole new pool of followers with shared interests.

TikTokers turn to the app’s live streaming to enhance engagement and connection with followers, but also as a place where viewers can send virtual gifts that they can convert into real money!

Selling Merchandise on TikTok

Many TikTokers have jumped on board the ‘merch’ train, selling merchandise or offering exclusive content to subscribers to diversify their revenue streams.  These are fantastic ways for content creators to financially benefit whilst also building a connection with followers and staying true to their unique branding and goals. 

Finally, creators can use affiliate marketing (i.e. promoting products and earning a commission on sales generated through their referrals) as a way of making money on TikTok. By strategically combining these various options, TikTokers can build sustainable revenue streams whilst engaging with their audience in a creative and authentic way. 

TikTok Creator Fund: How Does It Work?

TikTok Creator Fund: How Does It Work?

As previously mentioned, the TikTok Creator Fund is a way for content creators to reap in financial rewards based off of the performance of their videos. Those who are eligible for the fund must meet specific criteria, including follower count and video engagement metrics, and, once accepted, will earn money based on their views and engagement etc.

Recognising the importance of offering content creators financial incentive, the platform allocates a portion of its advertising revenue to the Creator Fund. Not only does it support TikTokers in a financial capacity, but it also acts as initiative to continue producing quality content and keep the platform the place to be – for both creator and follower alike. The fund is an initiative that rewards creativity and those who create the most engaging content. 

Brand Collaborations and Sponsored Content

You’d have to be living under a rock to not be familiar with TikTok, and it’s this notion that brands jump on when it comes to collaborations. Capitalising on the platform’s huge reach and engagement, both influencer and brand alike recognise the ample opportunities that a good partnership can afford. Leveraging the influencers’ authenticity and, you guessed it, influence, brands can use their profiles to seamlessly integrate their products or services into the influencers’ organic content. 

Brand collaborations are an extremely effective way to tap into niche audiences and get brand awareness out there – in turn fostering a feeling of trust and loyalty with followers. 

And let’s not forget the influencers, they naturally benefit from the increased visibility as well as the many monetisation opportunities, which in turn help to elevate their personal brand. 

However, in order for a partnership to be successful, it’s crucial that the content remains authentic and ‘real,’ or it runs the risk of alienating followers. In order to retain their credibility and reliability, influencers must be transparent when the content is sponsored. 

Tips for Maximising Earnings through TikTok Live

TikTok is just one of the ways that content creators can make money on the app, but in order to be successful there are a few rules to follow: 

  • Consistent scheduling: Establish regular live streaming times to build a loyal audience.
  • Interact with viewers: Engage through comments, shoutouts, and Q&A sessions.
  • Varied content: Offer diverse content to appeal to different interests and demographics.
  • Promotions: Make the most of promotions, giveaways, and exclusive content to incentivise viewers to stay – and tip!
  • Collaborations: Partner with other TikTok creators for cross-promotion and broader reach.
  • Riding trends: Keep an eye on trending topics and challenges to capitalise on opportunities to go viral.
  • Quality Production: Invest in good lighting, audio, and background to enhance production value.
  • Call to action: Encourage viewers to send gifts, use stickers, and participate in challenges to boost earnings.
  • Embrace monetisation features: Leverage TikTok’s monetisation features i.e. virtual gifts, brand partnerships, and live donations.
  • Analytics: Analyse performance metrics to understand audience preferences and optimise content to enhance capacity for maximum earnings.

Merchandising and Product Sales via TikTok

Merchandising and Product Sales via TikTok

As we’ve already touched upon, many TikTokers have jumped aboard the ‘merch’ train, capitalising on the opportunity to sell merchandise to their loyal followers. The key is to use the platform’s short video format to showcase products in innovative and creative ways so that it feels more like entertainment and less like a hard sell.

Hopping on the latest trends to promote merchandise is one of the ways TikTokers can capture their audience’s attention and get their product out there without seeming too forced or unnatural. The short-form nature of the app allows influencers to do quick product demonstrations and testimonials without running the risk of losing bored scrollers. 

Whilst, TikTok’s algorithm-driven For You page ensures the wide exposure of videos to enhance their reach and drive potential sales. Likely off of the back of the success of merchandise sales, the app has developed direct links and shoppable features to streamline the purchasing process and overall user convenience. 

Those riding the ‘merch’ train can look to collaborations with popular TikTok creators for authentic endorsement and to help drive sales through genuine recommendations. With its viral nature, massive user base and incredible opportunities for promotion, TikTok is the go-to for those looking to jump on the merchandising bandwagon. 

Future Opportunities for Earning on TikTok

As TikTok continues to grow and evolve, so too will the opportunities for earning within the app. 

It’s likely that brand partnerships will remain a lucrative avenue for companies and influencers alike to promote products and generate sales. 

TikTok’s Creator Fund is also likely to remain a great incentive for content creators to produce quality content in order to receive compensation based on their views and engagement. Whilst the app’s live streaming, tipping features and exclusive content subscriptions will also likely continue to grow in popularity as a means of increasing earning potential. 

As the platform matures, there may be a host of innovative ways to make money that we cannot even conceive of at this point – as the saying goes, the future remains unwritten! 

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