Even though TikTokhas only launched internationally in 2017, it has become an authority on topics such as culture, politics, and fashion. TikTok is a powerful force and is growing rapidly year after year, and is actually expected to reach 2 billion users by 2024. Over time, this app has attracted a huge Gen Z user base, and for entrepreneurs, it's a huge marketing potential. As the social media app TikTok machine grows, so does the number of ways to make money.
Having a deeper understanding of your target audience will make it easier to decide how to monetize your TikTok users. There is no single approach to monetization, but high earners typically maintain a variety of income streams. From sponsored content to live streaming, the opportunities on TikTok are virtually endless.
If you want to turn your TikTok side hustle into a full-time income source, check out the following guide.
How to make money with TikTok
1. Participate in the TikTok Creativity Program (formerly TikTok Creator Fund)
Users who have gained a significant following may consider monetizing through the TikTok Creativity Program. The program, announced in February 2023 and launched in May, replaces the TikTok Creator Fund.
to make money directly From TikTok, this is the way forward. To do this, you must have at least 10,000 genuine followers and at least 100,000 views in the last 30 days. (You must also be at least 18 years old and reside in the United States, United Kingdom, Germany, France, or Spain.)
2. live broadcast
Live streaming has exploded in recent years. In addition to heavyweights like YouTube and his Twitch, TikTok is also putting resources into its own product that allows users to live stream. Creators across genres have turned to livestreaming, with some describing the medium as a nostalgic way to connect intimately with fans in the fleeting days of TikTok swipes. Many creators consider live streaming to be their main source of income.
Creators across genres have turned to livestreaming, with some describing the medium as a nostalgic way to connect intimately with fans in the fleeting days of TikTok swipes. Brands have also embraced TikTok Live, with him paying three times more for sponsored streams than for static posts.
3. Live stream and collect virtual gifts
Live gifts are one of TikTok's most useful features for creators looking to monetize their content through live streaming. While most social networks have live streaming capabilities, TikTok is unique in that it allows followers to show their appreciation in real time by sending virtual gifts like coins that can be redeemed for payments. .
What is TikTok coin?
TikTok Coins are the in-app currency used by TikTok. These coins can be easily purchased by any user in exchange for real money. TikTok coins can be used to send gifts and diamonds to creators to show your appreciation for their content.
Followers typically send these while interacting with their favorite users on live streams. Engaging with users in real-time is reportedly great for building valuable relationships with fans. Audiences who have a strong connection to the creator tend to take a more personal interest in their success. This means that live streaming can also help drive other monetization streams. One person who has successfully done this and made a lot of cash in the process is TikTok user “Pinkydoll.”
Who is Pinky Doll?
An American TikToker named “Pinky Doll” went viral on social media after a Twitter user uploaded a clip of her livestream. In the video, the influencer can be seen using a curling iron to pop popcorn kernels while repeating strange phrases under her breath.
“When I stumble across TikTok Live, I feel like I'm watching the end of the world,” one user said of the clip. However, another person pointed out how much money you can actually make in the process. “I mean, she got over 1000 likes in less than 30 seconds…” the commenter claimed.
It may seem like nonsense to some, but Pinkydoll is making a ton of money from live streaming. She basically goes live and performs each virtual gift given to her. Therefore, her repetitive behaviors (i.e., licking the air, or saying “Ice cream is so delicious”) are rewards that are prompted when viewers give her tokens, and are displayed during her live streams. will be displayed on the screen.
There are many other live streamers with similar unique strategies, such as user “natucoco” on TikTok, who use animated versions of themselves to earn gifts and coins.
Most social networks have live streaming capabilities, but what's unique about TikTok is that followers can show their appreciation in real time by sending virtual gifts, which can then be redeemed for payment.
4. Sell goods and other products to your followers
Selling your own products on TikTok is perfect for monetizing almost any type of content. Creators can create merchandise and sell it to their most loyal fans. You can sell t-shirts, tote bags, pillowcases, hats, coffee mugs, stickers, notebooks, or a combination of products.
Selling print-on-demand products has benefits beyond just a source of income. Owning branded merchandise gives your fans a deeper connection to your personal brand, and every follower wearing your merchandise is another way to spread the word about your personal brand. is.
5. Collaboration with TikTok influencers and other brands
Brand collaborations can help increase your app's earning potential. Keep your content authentic and interesting and you'll have a chance to attract relevant brands in no time.
One of the most innovative ways TikTok generates revenue for creators is through its Creator Marketplace. Creator Marketplace helps connect the right brands with the right influencers, facilitating partnerships in a quick and easy way for both parties. TikTok makes it incredibly easy to create valuable sponsored content.
6. TikTok Rewards
This may be the easiest way to make money!
TikTok Rewards earned through the TikTok Rewards referral program is currently one of the best ways to earn money and rewards on TikTok. It's simple: First, copy your unique referral link from your TikTok profile. Next, ask your friends who have never used TikTok to join the platform using your referral link. Finally, you can start earning rewards the moment you join the platform and create an account.
Additionally, users can also earn rewards by watching videos and participating in events listed on the activity page. Once you accumulate a certain number of her TikTok Rewards, you can redeem them and enjoy the benefits.
