:Money / Small business finance

How to make money on TikTok in 2023

how to make money on tiktok how to make money on tiktok

If you’re a content creator looking to build multiple streams of income, then learning how to make money with TikTok is essential. Content creation has the potential to be one of the hobbies that make money. With over 1 billion users, 150 million of which are Americans, TikTok is one of the best platforms to be on for every content creator in 2023 and beyond. 

Each video you create on the app has the potential to go viral and bring in a new audience for content creators and small business owners. So, let’s look at all the different ways TikTok allows its creators to monetize their content.

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Tips to help you create quality content

1. Understand the algorithm

To create quality content that people engage with, you have to understand how the TikTok algorithm works. Every video uploaded on the app has a fair chance to go viral, which is why the app has been so successful for many small businesses and creators. 

When you upload a video, TikTok puts it in front of a small pool of people to see how they interact with it. If the video is successful, TikTok pushes the video further to a wider audience. So, when you create a video, you always want to make sure you keep in mind the users. Ask yourself if the video is engaging, fun, and eye-catching. 

The better and more engaging the video you upload is, the better the chance that it will reach a broader audience, putting you in front of more people and helping you grow.

2. Be consistent

Growing your social media account takes time, no matter what platform you choose. So, be consistent with your content and make sure you upload regularly to increase your chances of getting noticed. And as we mentioned, every new video has a chance to go viral, so keep creating and improving your content. 

3. Participate in trends

TikTok loves trends and trending sounds. So, when you create a new video, always make sure you use trending sound and participate in all the trends you see on your For You Page. This will maximize your chances of getting in front of more people, and if your video is engaging enough, it might even go viral.

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Ideas on how to make money on TikTok

If you want to become a content creator and make money with your content, TikTok is the perfect app to start with. Here are some of the best ideas on how to monetize your content on this app. 

Join the TikTok Creator Fund 

In 2020, TikTok launched a feature called Creator Fund, which promised to give US creators $200 million to compensate them for their content. So, the app pays creators as an incentive to create content and generate engagement. This Fund is expected to grow to $1 billion over the course of the next few years and is one of the options that larger TikTok creators can use to earn money directly through the app. 

The amount of money you get paid through the Fund depends on various factors like the number of views, the authenticity of the views, and your engagement rate. There is a minimum payment threshold of $10 for every 30-day period, and in order to redeem the money, you must make at least that amount. 

One creator who got over 20 million views on his video shared that it only made him over $300 dollars, which is not a significant amount compared with what a TikTok creator can charge for a sponsored post. Mr. Beast, one of the most popular content creators in the world, shared that for over one billion views on his TikTok account, he got paid just over $14,000. 

So, as you can see, the payouts from the TikTok Creator Fund vary greatly and require quite a lot of views to make a significant amount.

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Collaborate with brands

Collaborating with brands on sponsored content is one of the best ways to monetize your content on TikTok. You get an opportunity to work with brands you admire to promote their products and get paid a flat rate on the branded content you create. The rate will depend on the size of your audience and your engagement, but you can always negotiate a better deal for yourself. 

If you’re new to the world of influencers and working with brands, check out our in-depth guide on how to become an influencer to help you get a headstart. When you’re ready to start working with brands on sponsored content, you can go about it in two different ways:

  • Finding brands to work with independently
  • Utilizing the Creative Marketplace

With the first option, you’ll want to make a list of your favorite brands with whom you would love to work. Then, you will want to create a media kit with information about yourself as a creator and note your social media following numbers and engagement. 

Once you’re ready, start reaching out to your dream brands via social media or emailing them directly. You can post a few videos mentioning their products to try and get their attention. It’s a great way to show the brand that you know their product and showcase your ability to create engaging videos. 

The other option for brand sponsorships is a native TikTok feature. TikTok has created a Creator Marketplace to help connect brands with the right influencers and makes collaboration effortless and transparent. The creators can sign up for the program and find brands they want to work with. 

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TikTok allows your followers and fans to send you virtual gifts and donations. You, as a creator, then can exchange those virtual gifts and donations for diamonds, which is a virtual TikTok currency that can be exchanged for real-life money. 

Another way to allow your followers to support your brand is through connecting donation platforms like Tipeee and Ki-fi to your TikTok account so that people can directly donate money to you. Some creators choose to use Patreon or even Only Fans, offering exclusive content to those followers who choose to pay a small fee. 

Utilize affiliate marketing

Earning money with affiliate marketing is possible through TikTok, just like with other platforms like Instagram, Pinterest, and YouTube. And it can be just as effective. Affiliate marketing is often overlooked, but if you do it right, it can help you supplement your creator income and make you thousands of dollars every month in passive income. 

Switch your TikTok account from a personal to a business account (which is free and easy to do!), which allows you to put one link in your bio. You can use tools like Beacons, which allows you to create a page that includes affiliate links to products you’re promoting. Or, set up your Amazon Storefront and link it in your bio if you prefer to promote products through Amazon.

Once that is set up, create video content using and promoting the products, so when people find your videos and are interested in the product, they can easily visit the link and purchase the product. To take things further, you might want to consider creating TikTok ads to reach a wider audience and drive more traffic to your affiliate link page. 

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Become a seller on TikTok

TikTok has partnered with the online e-commerce platform Shopify to allow brands to sell their products directly through the app. You can become an official merchant by applying through the TikTok’s Shop Seller Center. You must meet the eligibility criteria to become a seller, and at the moment, only sellers in the UK and Indonesia are allowed to become sellers on TikTok. 

So, if your business is based in either location, setting up your TikTok shop can be a great way to sell your products and discover a new audience. 

Promote your products and services

The hashtag #TikTokMadeMeBuyIt has hundreds of millions of views, and even 67% of TikTok users admit that TikTok inspired them to shop, even though they weren’t looking to do so. Promoting products from your business on TikTok can be a lucrative way to make money. 

You can create fun and engaging content for your products and services, with every video having a fair chance to go viral. There are many creators and small business owners selling clothing, candles, and many other things who have grown their businesses with the help of TikTok alone and made millions doing it. 

TikTok business account allows you to include the link to your website in your bio, which you can use to drive traffic to your online store or online course page. It’s a great, free marketing tool you definitely want to take advantage of. 

When it comes to creating content to promote your business, you can choose to make fun videos or educational videos on your topic. For example, if you have an online course on personal finance, make short-form content that introduces people to some of the curricula you teach and then invite them to learn more by joining your online program. 

Another smart way to utilize TikTok to promote your business is to use it to grow your email list. People on your email list will be your number one customers when it comes to buying products and services. So, in your bio, link to a lead magnet and invite your audience to sign up for your email newsletter. 

How to earn money on TikTok Live

TikTok allows you to monetize your Lives, which can be another great way to make money with TikTok. During your live, your audience can give you virtual gifts. You can then exchange those virtual gifts for diamonds, which are TikTok currency that can be exchanged for real money. 

There are a few things to know about how to go live on TikTok. Before you can access this feature and monetize it, you must fit the eligibility criteria:

  • You must be 18 years of age to be able to receive gifts during the Live.
  • You must have at least 1,000 followers.  
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How to get paid on TikTok

Before you can start making money on TikTok, you have to fit a few criteria:

  • You must be 18 years of age or older.
  • You must be based in one of the following countries: USA, UK, France, Germany, Italy, or Spain. 
  • You must have at least 1,000 followers.
  • You must have at least 1,000 video views in the last 30 days.
  • You must have posted at least three videos in the last 30 days. 

These are just the minimal requirements to be able to join Creator Next, which opens up the doors to monetizing your content on TikTok through various ways we’ve discussed before. 

If you want to join the Creator Fund, then you’ll have to have 10,000 followers and 100,000 video views on your videos in the past 30 days. And if you want to receive gifts and donations on all of your videos, not only TikTok Lives, then you’ll need to have at least 100,000 followers to access this feature. 

To make serious money on TikTok with brand sponsorships, reportedly, you should have at least 100,000 followers. This number of followers encourages more brands to collaborate with you on sponsored posts, and you can set a higher rate, especially if you’re getting 100,000 video views and more. 

How much do people make on TikTok?

The top TikTok stars can charge up to $500,000 per sponsored post, with the average being between $100,000 and $250,000 per post, according to Forbes. In 2022, the highest-earning stars are:

  1. Charli D’Amelio: with 133 million followers, the creator reportedly made $17.5 million. This includes earnings from her Hulu show and sponsorships with brands like Invisalign, Morphe, and Dunkin’ Donuts.
  2. Dixie D’Amelio: with 57 million followers, the creator reportedly made $10 million. Her earnings come from brand sponsorships, her Hulu show, and music. 
  3. Addison Rae: with 86 million followers, the creator reportedly made $8.5 million. This includes earnings from her movie deals with Netflix and sponsorships with brands like Nike, American Eagle, and her beauty line. 

How to make money on TikTok FAQ

Let’s answer some of the most popular questions people have about making money on TikTok:

Can you earn money on TikTok?

Yes, absolutely! TikTok allows its creators to make money through the app directly or make money by promoting their products and services. You also have the option to work with brands to create sponsored posts, either independently or with the help of TikTok’s built-in Creator Marketplace, which connects brands and creators with ease. 

How do you earn money on TikTok?

TikTok is a versatile platform that offers creators a lot of freedom and options to monetize their content. There are multiple ways how you can do that as a content creator: 

  • Join the Creator Fund: earn money by joining TikTok’s creator program that pays creators for the views and engagement on their videos. 
  • Promote affiliate products: create content promoting affiliate products and include the links in your bio, so people can easily buy products you recommend and earn a commission. 
  • Advertise your business: use TikTok to promote your products and services to a new audience and drive more traffic to your online store or online course. 
  • Accept donations: TikTok allows creators to receive virtual gifts during their Lives and on regular videos, which can later be turned into virtual currency and exchanged for real-life money. 
  • Collaborate with brands: reach out to brands you love, or join Creator Marketplace to connect with brands who are looking to work with influencers on creating sponsored content. 
  • Become a seller on TikTok: if you’re from the UK or Indonesia, you can become a TikTok seller and sell your products directly on the app.  

How many followers do you need on TikTok to make money?

To start monetizing your content on TikTok, you have to have at least 1,000 followers. This allows you to apply to a Creator Next program, which allows you to gain access to things like TikTok Live and many other features. To be eligible to make money with the Creator Fund, you’ll have to have at least 10,000 followers, with most creators who earn big money having at least 100,000 followers.

How many views do you need on TikTok to make money?

The minimum number of monthly views is 1,000 to get started with making money on TikTok. However, if you want to join the Creator Fund, then you’ll need to have at least 100,000 video views in the last 30 days. 

How much money do you get with 1 million views on TikTok?

There is no guaranteed way to say how much money you’ll make with 1 million views on TikTok. With the Creator Fund, TikTok doesn’t openly state the rate per view, and the amount can vary depending on many different variables, like engagement and quality of the views. 

A more guaranteed way to make consistent money with TikTok is to collaborate with brands on sponsored content, which allows you to charge a flat rate. Or, promote affiliate products and earn commission through that and promote your small business products and services. 

Author: Karolina Wilde, Karolina Wilde is a freelance writer. Her work has been published on Better Marketing, The Ascent, and Sexography reaching over 25,000+ readers. In her free time, you can find her podcasting, reading, or creating TikTok videos.