Despite being only launched worldwide in 2017, Tiktok has already become ineffably popular and deservedly occupied pride of place at the top of the list of most popular apps with 2 billion downloads globally. In truth, the coronavirus pandemic predetermined the lion's share of its success. Since the lockdown, Tiktok has exceeded all possible expectations and turned into a whirl of diverse user-generated content, utilizing our boredom and transforming it into short clips.
For many people, TikTok isn't just a creative outlet but a full-fledged way of income. Want to join the team of those who have already discovered ways to earn money on TikTok or even make it a full-time job? You're not alone, let's go through 7 money-making ideas!
TikTok Creator Fund
Users with a presentable follower base tend to earn money through the TikTok Creator Fund. This program was announced in 2020 and is currently one of the most popular income methods which support aspiring creators of all kinds.
Before you apply, check the requirements:
at least 18 years old
10,000 followers or more
100,000 video views in the last 30 days
based in the UK, US, Germany, Italy, or Spain
Each creator's earning potential is determined by various factors, including the frequency of posting, the number and authenticity of views, the engagement quality, and compliance with the Community Guidelines and Terms of Service. There's no specific figure you can surely expect because The TikTok Creator Fund total fluctuates from day to day based on the number of videos being posted per last 24 hours. Although it depends on too many factors to take into account, the sky is the limit! If you already have a following, the Creator Fund is a fantastic idea, but don't forget about lots of additional monetization methods! They'll come in handy if you are starting out or want a financial cushion in addition to the Creator Fund earnings.
Go Live and collect gifts
Live Gifts is a hidden gold mine for creators that want to monetize their streams. Although broadcasting isn't a new feature for many socials, Tiktok verily surpassed its competitors with Live Gifting, which appears to be a win-win for creators and their followers. Creators can redeem their appreciation into monetary value, and fans acquire a fresh way to support their beloved influencers with Live Gifts and get a chance to hear a personal "thank you."
TikTok Coins is the in-app currency that any TikTok user can purchase for real money and exchange for virtual gifts. The gifts can then be converted into cash and withdrawn through PayPal or other TikTok payment partners. To be eligible to conduct Live broadcasts, creators must have 1000 or more followers, and that's the only rule.
Real-time interaction is an excellent way to establish lasting bonds with your followers, which means they'll care about you as part of their personal life and boost indicators of other income ways.
Here are a few ideas to make your TikTok Live engaging and lucrative:
Define the goal and topic for your TikTok Live
Plan the structure at least for the start and the end of the stream
Pick the time when most of your followers are online
Test your internet connection and other technical aspects beforehand
Promote your Live Session through a TikTok video post to increase your chances of being noticed on For You page
Be genuine and engage with your viewers a s much as possible
Monitor the comment section, and don't put up with hate speech or harassment
Before you wrap your stream, encourage the audience to check out your content, follow, or visit your site
Use TikTok Rewards Refferal Program
TikTok Rewards is one of the easiest methods of earning money. Users can receive incentives simply by watching videos, participating in events mentioned on the Discover page, or sharing their unique referrals from TikTok profiles. If someone joins the platform using your link, you earn rewards and redeem them!
Collect Tips on Patreon or other membership platforms
Motivate your followers to subscribe to paid membership platforms like Patreon, Ko-fi, or Buy Me a Coffee. It doesn't negate free content on TikTok, but the audience quickly gets interested in exclusivity if they like you. It's a fantastic method to boost revenue, especially if you provide some extras like additional info or early video access. Just make sure you take the time to create worthwhile posts since you don't want anyone to end up regretting their investment.
Add songs to your videos and earn money! Musicians will pay you if you have a sizable fan base and a decent level of engagement to advertise their music in your TikToks because their success is directly proportional to the number of viral videos accompanied by their hits. Moreover, use TikTok to promote your songs if you're a musician – release your music directly on TikTok, focus on TikTok-friendly songs, and slowly convert your followers into music fans.
Sell your products through TikTok Shopping
TikTok keeps introducing fresh features that are particularly appealing to businesses seeking customers on social networks. TikTok Shopping – one of the most buoyant – was introduced in 2021. It allows brands, creators, and merchants to sell anything directly without leading customers to other websites. Clothing, beauty products, accessories, electronics, and much more – you can sell whichever your imagination and TikTok Community Guidelines and Terms of Service allow. With the help of in-feed videos, LIVEs, and the product display tab added to your profile by TikTok Shopping, you'll definitely find potential buyers.
Use Affiliate Marketing and TikTok Creator Marketplace
You don't necessarily have to provide your own products or services to earn money on TikTok. Instead, search for businesses that are interested in investing in affiliate marketing. The Creator Marketplace facilitates the process of partnership for influencers and enterprises based on the industry, budget, and business goals. It works somewhat like an influencer agency, allowing everyone to express their desires and goals, which is exceedingly helpful for both parties. When any user clicks on your unique link and makes a purchase, you receive a commission as an affiliate partner.
It may be the easiest way to monetize your TikTok, especially if your followers are active and engaged – promote products on your videos, put custom links in the description, and wait for the outcome!
There are numerous methods to generate money on TikTok, and your revenue will depend on how effectively you monetize your account. A successful TikTok profile may change your life, even if you don't have billions of likes. Time is money, and increasing your income from entertainment gives you more time to have fun. So multiply your chances for success by growing your TikTok presence alongside, for example, Twitch or YouTube channel, and enjoy the experience of living in the era of social media!