To make money on TikTok in 2023, a business can use tactics such as running TikTok ads to drive traffic to their ecommerce store.
However, to fully monetize on TikTok, more dedicated time and effort may be required, such as participating in TikTok's Creator Fund or becoming a brand ambassador.
Essentially, you can either use TikTok to promote your existing business or make TikTok your business.
Actionable strategies in 2023
01. Sell products with Tiktok Shopping
Tiktok Shopping, launched in 2021, allows businesses to sell products directly on the platform, eliminating the need for redirecting followers to external websites. The feature includes a shopping tab on your profile, displaying products from your Shopify catalogs. Additionally, businesses can tag products in their organic content to direct viewers to their store.
It's important to mention your products to your audience but avoid being overly promotional. Give your Tiktok store a shoutout occasionally.
- Recipe books
- Relocation guides
- Travel guides
- Skincare guides
- Meal plans
- Educational materials
- Workout plans
- Templates and tools
- Cheatsheets
- Challenges (fitness, time management, etc.)
- Podcasts
02. Affiliate Programs
It is possible to make money on TikTok without having your own products or services by using affiliate marketing, which involves promoting other products and earning a commission on each sale that results from a user clicking through the link. To do this, you can:
Include an affiliate link in your profile and direct traffic from your organic views to click on it.
Direct traffic to your other social media accounts (Facebook, Twitter, Pinterest) where you can place more affiliate links.
Include coupons codes and URLs in your video descriptions for users to copy and paste into their browser.
03. Create your merch and sell it on Tiktok
If you have a loyal following on TikTok, you can monetize your audience by selling your own merchandise. This can include items such as clothing, accessories, and home goods that feature your logo, catchphrases, or artwork. Creators such as indie musicians are already taking advantage of this opportunity to sell their merchandise online. Even if you don't have a large audience, you can still sell merchandise by featuring unique phrases or artwork on items like t-shirts, hoodies, and stickers.
You can create a sense of urgency and exclusivity by releasing limited collections, and you can promote your merchandise by adding links to landing pages in your videos or bio, creating a TikTok shop or adding clickable product snippets in your posts. To create a catalog, you will need to have a business account.
04. Sell your Tiktok account
If your TikTok profile is not focused on your personal brand, you can still make money by selling it. If you have an engaged audience and a strong content history, you can find someone or a business willing to take over your account.
You can list your profile for sale on platforms such as Fameswap and Social Tradia, which act as marketplaces for buyers and sellers of TikTok accounts. If you are ready to move on from your current profile, these platforms can help you find a buyer.
05. sponsored posts
Brands will pay you to feature their products and services through sponsored content. This can be done by microinfluencers with a robust and engaged community, even if it is not very large.
You can actively reach out to brands or wait for them to approach you. If you have over 100,000 followers and 100,000 video likes in the last 28 days, you can apply to join the TikTok Creator Marketplace, which connects high-paying brands with influential creators.
How to make money on TikTok (with lots of followers)
Tiktok Creator Fund
TikTok offers a way for users to make money on their platform through the Creator Fund. This program supports talent and creators by paying them for the content they produce that their audience already enjoys.
However, to be eligible for the Creator Fund, TikTok creators must have at least 100,000 video views in the past 30 days and at least 10,000 followers. They must also be based in one of six countries: the UK, US, France, Germany, Italy or Spain, and must be at least 18 years old. The amount of money earned through the Creator Fund is not disclosed, but creators report earning around $20-40 for a million views, which may not be significant.
The Creator Fund may not be a reliable source of income and users should not expect it to pay off loans or fund business ventures.
How to Sponsor on TikTok
Content creators have traditionally made money through sponsorships on social media platforms, where brands pay them to promote their products or services to their audience.
While sponsorships can be financially beneficial, it is important to note that the brand is ultimately the one gaining customers and thus making more money. Additionally, brands often have strict guidelines for how they are represented and the content may be heavily monitored, potentially limiting creativity. It's also crucial to consider aligning personal values with those of the brands you choose to work with.
Ultimately, these built-in ways to earn money on TikTok have a downside: without an existing audience, you may have to wait to build one before earning a second income stream. However, there is a way to earn money on TikTok even without a following.
Best way to earn money without followers on tiktok
Making money on TikTok does not require going viral. Having a large number of views does not guarantee any income. The key to success on TikTok is creating engaging content. Building a following on the platform takes effort and dedication, but if you are passionate about your content, you can grow your audience and monetize your account at the same time
FAQ
01. How much does TikTok pay
- TikTok does not offer direct payment to users for creating and uploading content. However, influential users can generate revenue through sponsored content, collaborations with brands, and promoting their own products or services. Additionally, TikTok has a Creator Fund program where selected creators are paid based on their performance, but the amount can vary widely.
- Users must meet certain criteria to be eligible to make money directly from TikTok, including being at least 18 years old, having at least 10,000 followers, and having posted at least 100,000 video views in the previous 30 days. Once they reach this threshold, they can apply for TikTok's Creator Fund program through the app.
- To watch TikTok without an app or account, you can use the TikTok web version, search for TikTok videos on YouTube, or use the TikTok viewer. If you have other methods, share them in the comments section
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