How to Make Money on TikTok

Personal account

Before we write about monetization, we'll discuss a bit about the types of accounts on TikTok: personal accounts and business accounts.

When it comes to personal TikTok accounts, which are basically designed for content creators, there are a couple of important elements that we need to highlight. TikTok first developed the Creator Fund, where you would get financial rewards for making videos. Lately, they introduced Creativity Program Beta, which will probably take the place of the Creator Fund (although The Verge says it still needs to be clarified what will happen with the original fund).

There are also Creator Series, Creator Marketplace, and the possibility of getting gifts when doing a live session. We'll explore every feature in detail later in the article, but first, we'll say a couple of words about business accounts on TikTok.

Business account

A business TikTok account is designed for, well, businesses. It offers many valuable features accessible through the Business Suite. With Business Registration, you can verify your business's legitimacy and put a category on your profile. There's also an email button for direct inquiries, access to the Business Creative Hub for content inspiration, and lead generation tools that allow potential customers to submit contact information via call-to-action buttons.

Auto-messages streamline communication, and TikTok Ads Manager enables the use of advertising products like Spark Ads and TikTok Shopping Ads. Plus, the Commercial Music Library with over 1.3 million royalty-free sounds adds to your content creation options.

TikTok Creativity Program

TikTok Creativity Program is a way TikTok uses to promote longer high-quality content. Besides collecting rewards, you'll also have access to an updated dashboard, and analytics that help you follow the performance of your videos. You'll also be able to check out your estimated revenue.

Here are the eligibility criteria for the TikTok Creativity Program:

• account that's based in the US
• minimal age: 18 years
• minimal number of followers: 10,000
• minimal number of views in the last 30 days: 100,000.

There are also eligibility criteria for each video:

• at least 1,000 views;
• it can't be a Duet video, Stitch video, or Photo Mode video;
• it can't be an advertisement, sponsored content, or paid promotion;
• it has to comply with the Creativity Program Beta terms, the Terms of Service, and the Community Guideline or Copyright Policy.

You probably want to hear some numbers related to the monetization potential in the Creativity Program. Your earnings are determined by the number of qualified views and RPM (average gross revenue per 1,000 qualified views). RPM can vary due to factors such as video engagement, content authenticity, and viewing region.

TikTok Series

Series introduces a new way to monetize your TikTok content, enabling you to charge a fixed fee for access to your premium and informative video collection. You can share up to 80 videos, each up to 20 minutes long, with the option to include a free introductory video. After creating your first Series, you have the flexibility to set the listing price, ranging from $0.99 to $189.99 USD.

Following a Safety and Music review, your Series becomes available for purchase via a video link or directly on your creator profile. You can actively promote your Series through in-video links, encouraging both your existing followers and potential new viewers to explore your content. Users who purchase your Series gain access to your entire catalog, complete with detailed information like content descriptions, prices, video lengths, and your intro video.

If you would like to know if you're eligible for the TikTok Series, you can read the requirements here.

TikTok Marketplace

The Creator Marketplace serves as TikTok's official collaboration hub, facilitating connections between brands and creators. It empowers brands to discover creators by accessing their profiles, audience demographics, engagement metrics, and more. Effective collaboration involves aligning with the brand on various video details, including shooting location, wardrobe, reshoots, payment terms, and more.

Remember to disclose your Branded content videos using the Content disclosure setting and link them to your Creator Marketplace campaign. That way you will enable brands to access your real-time campaign data. After uploading the video, it undergoes a review process to ensure compliance with TikTok's Community Guidelines and branded content policy. You'll receive notifications for approval or rejection, allowing for reshooting and re-uploading if necessary. Additionally, your brand partner has the opportunity to approve or deny the video before it goes live.

TikTok and Recommend

On Recommend, you have the opportunity to curate your very own online shop, showcasing your favorite products and recommendations in one easily accessible location. What's more, you can effortlessly share this shop across various social media platforms, including TikTok, to connect with your audience and offer them a selection of products that reflect your personal style and preferences.

As your TikTok community follows the link to your Recommend shop, they can explore the products you love, admire, and recommend, all with just a few clicks. This direct and intuitive shopping experience allows your followers to find inspiration in your choices and make purchases effortlessly. What's even more exciting is that every time someone from your community makes a purchase through your Recommend shop, you earn a commission, turning your influence and taste into a source of income.

TikTok Shop

The TikTok Shop is a feature that enables brands to present and sell their products directly to the TikTok community. What sets it apart is the in-app experience, allowing users to make purchases without being redirected to external shopping apps or websites, leading to improved conversion rates and sales.

Brands leveraging TikTok Shop gain access to a range of campaign options and a robust set of promotional tools, enhancing their ability to reach and engage with their target audience. Additionally, the platform offers opportunities for brands to discover, connect, and collaborate with a vast network of creators through its affiliate program, all accessible within TikTok Shop.

Selling merchandise

Selling merchandise is another great way to make money on TikTok. Of course, you should first build a dedicated and engaged fan base by producing valuable and entertaining content. Then they can develop unique merchandise that reflects your brand identity. Setting up an e-commerce store on platforms like Shopify, and promoting merchandise in TikTok videos is the winning combination.

Going live and collecting virtual gifts

Did you know that you can make money by collecting virtual gifts when going live? When creators host live-streaming sessions, viewers have the option to purchase virtual gifts and send them as tokens of appreciation. These virtual gifts can be bought using TikTok Coins, which users can purchase with real money. You'll get a cut of the revenue generated from these virtual gift purchases.

When it comes to the actual amounts, the logic is pretty straightforward: the more engaging and entertaining the live stream, the more likely viewers are to send gifts. Besides being entertaining, there are other things you can do to make more money from virtual gifts. Interact with your audience, respond to comments and questions, do the shoutouts, or offer some exclusive content.

We'd also like to dedicate a couple of paragraphs to the very important subject of growing audiences on TikTok. It's important to underline 3 key concepts: creativity, consistency, and strategy.

Start by crafting high-quality content with first-class visuals and sound. Pick a niche you're passionate about and consistently create content within it. Furthermore, keep an eye on TikTok's ever-changing trends and challenges. This is essential since it will make your profile more discoverable. Besides that, engage with your audience: respond to comments and ask questions to foster interaction.

We also advise you to establish a consistent posting schedule to keep your followers engaged and appease TikTok's algorithm. Take advantage of storytelling techniques to captivate viewers and ensure they watch your videos to the end. Be original - bear in mind that unique and humorous content often goes viral.

You can also cross-promote your TikTok content on other social media platforms, such as Instagram, Pinterest, or Facebook, and stay updated on TikTok trends and features. Above all, be authentic - your personality is your greatest asset!

We can conclude that TikTok offers a multitude of avenues for content creators and influencers to monetize their presence on the platform. It doesn't really matter if you are a nano or micro-influencer, or an online celebrity - anyone can take advantage of TikTok. Whether you're part of the Creativity Program, utilizing the TikTok Series, or exploring opportunities in the TikTok Marketplace, there are a bunch of ways to turn your hobby into profit. Additionally, the Recommend platform can be a valuable tool to boost your earnings potential. Beyond these options, selling merchandise to your dedicated fan base and hosting engaging live sessions to collect virtual gifts can significantly increase your income on TikTok.

As the world of social media continues to evolve, TikTok remains a dynamic platform for content creators to not only express their creativity but also reap financial rewards. By leveraging these diverse monetization methods and staying committed to producing engaging content, you can unlock the full potential of TikTok as a source of income while sharing your unique voice and talents with a global audience.