With its rapid growth and over 1 billion active global users, TikTok is not just a platform for entertainment but an avenue to make money.
As the app continues to evolve, so do the opportunities to monetise it.
If you’ve ever wondered how to turn those 15-second videos into a revenue stream, you’re in the right place.
Here are some powerful ways to make money on TikTok in 2023.
Receive Donations Through Live Gifting
TikTok’s Live Gifts feature allows content creators to receive Diamonds, the platform’s digital currency. When viewers appreciate your live videos, they can send you these gifts.
After accumulating enough Diamonds, creators can exchange them for monetary rewards or virtual items.
However, to start this venture, one must meet certain eligibility criteria, including being 18 years or older and having a minimum of 1,000 followers on an account that’s at least 30 days old.
Sell Products Through TikTok Shopping
TikTok Shopping offers an integrated e-commerce solution.
Creators can promote their products directly, linking them in their videos.
Additionally, the TikTok Affiliate Program allows creators to endorse relevant brands to their followers and earn commissions on sales.
Partner with a Brand
Collaborating with a brand that aligns with your content can be lucrative.
For instance, a makeup artist might partner with a cosmetics brand they admire.
Direct outreach to potential brand partners can initiate these collaborations.
Get Enlisted on TikTok’s Creator Fund
TikTok’s Creator Fund is designed to reward popular creators for their engaging content.
To be eligible, creators need at least 10,000 followers and a minimum of 100,000 video views in the past 30 days.
Earnings from this fund depend on various factors, including view count and engagement levels.
Take Advantage of TikTok Ads
TikTok’s Ads Manager helps brands reach their target audience.
With 1 in 3 users making a purchase based on a TikTok recommendation, it’s a potent tool for driving sales.
The platform provides creative tools and templates to craft compelling ads and offers analytics to measure ad performance.
Publish Sponsored Posts
Even if you’re a micro- or nano-influencer, brands might be interested in sponsoring your content.
Sponsored posts involve creating content that showcases a brand’s product or service. In return, the brand compensates the creator.
Music promotion is big on TikTok. Record labels often pay users to feature specific tracks in their videos, hoping to make the song go viral.
Through TikTok’s PlaylistPush program, creators can earn up to $250 per video, depending on its reach.
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