How To Make Money on TikTok: Ways to Monetize Your Content
How often have you watched a TikTok and thought, “They’re making money from this?” You can, too! If you enjoy creating short-form videos with your phone and have an entrepreneurial spirit, TikTok is your place. TikTok surpassed one billion monthly active users in 2021 and has continued growing exponentially. There are eager audiences waiting to learn or find entertainment on the platform. TikTok has a vast market just waiting to be tapped. Learn how to make money on TikTok and start raking in the cold hard cash!
Can I Make Money on TikTok?
If you’re asking, “Can I make money on TikTok?” The answer is a resounding, “Yes, you can!” And you can take that to the bank! We’re not just talking about enjoying trickles of cash here and there to supplement your income. When you begin, it will be like this, yes. But being a TikTok content creator or influencer or running a TikTok business can generate enough income to sustain your lifestyle. You can even have a lot left over for your savings.
The road to financial success on the platform is not always easy, though. Learning how to make money on TikTok is only one part of the equation. Finding a strategy that works well for you and perfecting it to maximize returns is another. Fortunately, there are many income-generating avenues you can explore. Let’s answer a few important questions before we explore TikTok’s money-making opportunities.
How To Make Money on TikTok: How Much Do You Get Paid on TikTok?
How much do you get paid on TikTok? The amount depends on how you’re earning your money. Here are some examples:
- If you know how to make money on TikTok through tips, you can receive up to $100 per tip or up to $500 per tipper per day.
- TikTok Diamonds are worth 50% of the value of your gifts from viewers. If you receive a Drama Queen gift worth 5,000 coins, this is equivalent to 2,500 Diamonds. A Diamond is worth 5 cents. You can redeem your Diamonds when you have a total of $100. Keep in mind that this rate is subject to change.
When Does TikTok Start Paying You?
When does TikTok start paying you? Again, this depends on how you’re earning your money. If you have Diamonds, you can redeem them for cash if you have at least $100 in your account. How quickly you can earn this much to withdraw your money is up to you.
If you’re earning through tips, they typically show up on your dashboard as soon as you receive them. However, your Stripe account may take up to 24 hours to reflect the correct balance. After Stripe processes your tips, they automatically deposit your balance to your bank account once a week.
How To Get Paid on Tik Tok
Let’s get down to business and explore how to get paid on Tik Tok. Check out the following strategies for how to make money on TikTok. Choose a few that suit your content style, brand voice, and target audience. Then, give them a try! Remember that if, at first, you don’t succeed, just keep tweaking and try again!
How To Make Money on TikTok With TikTok Creator Next
Here’s another strategy for how to make money on TikTok — opt-in to TikTok Creator Next.
What is TikTok Creator Next? Here’s how TikTok explains it:
“TikTok Creator Next aims to help creators monetize as they grow and develop their communities on the platform. When you join TikTok Creator Next, you receive access to tools and features that allow you to turn their creativity and passions into something greater, whether a side hustle or a business.
Through TikTok Creator Next, you’ll have numerous ways to maximize monetization opportunities, including collaborating with brands and making more incredible TikTok videos.”
Via TikTok Creator Next, you can access the following monetization opportunities. However, the availability of features also depends on the market.
- TikTok Creator Fund
- TikTok Creator Marketplace
- LIVE Gifts
- Video Gifts
Who’s eligible to join TikTok Creator Next and claim TikTok rewards? Here are the requirements:
- You have a personal or creator account.
- You must be at least 18 years old.
- You must meet the minimum follower requirement depending on your region.
- You must have at least 1,000 video views in the last 30 days.
- You must have at least three posts in the last 30 days.
- You must be in the US, UK, Germany, France, Italy, or Spain. If you’re in Canada or Australia, you can have access in the coming months.
- Your account is in good standing and complies with TikTok’s Community Guidelines.
How To Make Money on TikTok Via TikTok LIVE
Do you want to know how to make money on TikTok via TikTok LIVE? If you’re a creator, you can receive digital gifts from viewers and convert these into diamonds. You can then convert the diamonds into cash. How does it work?
During a LIVE stream, viewers can show their appreciation by sending you gifts. First, they need to use TikTok Recharge to purchase coins. They’ll use the coins to pay for the gifts they want to send. The gifts come in the form of stickers.
How do you earn diamonds, which you can convert into cash? TikTok awards diamonds to creators based on how popular your LIVE is. If you receive a ton of gifts during your TikTok LIVE, you have a higher chance of receiving diamonds. When you have enough diamonds, you may redeem them for money.
You need to meet the eligibility requirements to earn diamonds:
- You must live in a location where LIVE Gifts are available.
- You have to be at least 18 years old.
- You’re eligible to go LIVE.
- You have an account that is in good standing and adheres to TikTok’s Community Guidelines and Terms of Service.
How To Make Money on TikTok Via TikTok Shop
You can start a business on TikTok or use the platform for your existing business. TikTok Shop is a must for any business that wants to know how to make money on TikTok. TikTok Shop is your digital storefront. You can directly sell your products via your Shop, and your customers can conveniently make purchases straight from the app.
You can enable LIVE shopping, create shoppable videos, or make a product catalog via the product showcase tab. Of course, you can collaborate with creators or influencers and have them sell your products on their channels.
TikTok Shopping is available to sellers, creators, partners, and affiliates.
A Seller must be in any of the following regions and countries:
- Asia: China, Hong Kong SAR, Indonesia, Malaysia, Philippines, Singapore, Thailand, or Vietnam
- Europe: United Kingdom
- North America: United States
If you’re a Creator, you must meet these requirements:
- Have more than 1,000 followers
- Be at least 18 years old
- Have an account in good standing on TikTok that complies with the platform’s Community Guidelines.
How To Make Money on TikTok Via the TikTok Creator Marketplace
TikTok Creator Marketplace is a dedicated space where vetted creators can connect with brands for collaborations. If you’re a creator or influencer, you must meet certain requirements to apply or get an invitation to join TTCM. For brands and agencies, TTCM enables instant and easy access to creators who can deliver high-performing campaigns.
How do you make money on TikTok via TTCM? Creators and influencers can earn by creating sponsored content for brands. Brands can pay you directly for your services, or you can make money through commissions. On the other hand, brands can increase product sales by collaborating with top creators/influencers.
Aside from creator discovery, TTCM offers all the TikTok marketing tools you need in one space. You can manage the entire collaboration process on TTCM, from campaign creation and management to reporting.
How To Make Money on TikTok With TikTok Creator Fund
The TikTok Creator Fund is another “How to make money on TikTok” scheme you should look into. TikTok Creator Fund is the platform’s “way of celebrating and supporting creators for their dedication, ingenuity, and spirit.”
TikTok Creator Fund began with an infusion of $200 million in July 2020. Within a week, the platform announced that creators could have access to as much as $1B by 2023.
Are you eligible to participate? You must tick the following boxes to be eligible:
- You must be at least 18 years old.
- You must legally reside in the US or its territories and possessions, the UK, Germany, Italy, France, or Spain.
- You must have at least 10k authentic followers.
- You must have at least 100k authentic video views in the last 30 days.
- You must post original videos that comply with Community Guidelines.
- You must have a Pro account.
If you’re eligible, you can apply to join by doing the following:
- Go to your profile and tap the menu in the top right.
- Tap Creator tools.
- Tap TikTok Creator Fund.
How does TikTok reward funds? If TikTok approves your application, you’ll earn funds based on video views and engagement. You must also ensure your videos adhere to the Community Guidelines and Terms of Service. Keep in mind that not all videos automatically qualify for the fund. Videos prior to your acceptance to the fun, LIVE streams, Duets, and Stitches do not count.
How To Make Money on TikTok Through Tips
Receiving tips from your fans is another tip for how to make money on TikTok. Just like gifts, tips are a way for viewers to show their appreciation for your hard work.
Here’s everything you need to know about Tips on TikTok:
- Creators receive the complete tip, but there may also be a processing fee.
- To enable Tips, you need to opt-in to TikTok Creator Next.
- If TikTok does not approve your application to Creator Next, you can re-apply after 30 days.
- You need a Stripe account to receive your tips.
- When you enable Tips for your account, viewers can see your number of supporters and the amount of your tips.
- Viewers can send $5, $10, $15, or a custom amount.
- Viewers can tip a maximum of $100 per transaction and a cumulative total of $500 daily.
- Viewers are limited to a maximum of 100 transactions per day.
- Viewers can send their tips anonymously.
You must meet the following requirements to be eligible to receive tips:
- You must be at least 18 years old
- You must have at least 100k followers.
- You must reside in the US.
- You must have a creator/personal account.
- Your account must be in good standing and adhere to the Community Guidelines.
Follow these steps to enable tips for your account:
- Enroll in Creator Next.
- Go to your Settings and Privacy.
- Select Creator Tools.
- Tap tips, then click Apply.
- Follow the on-screen instructions.
How To Make Money on TikTok With the Right Audience
You can learn how to make money on TikTok while enjoying your hobby. Or you can monetize your content and use TikTok as a major source of income. Either way, you need to connect with the right audience to maximize your earning potential as a creator/business on TikTok.
It might make sense to cast your net as wide as possible to capture a bigger audience and earn more. But any potential earnings you can gain from TikTok will come from active audience engagement, not just simple video views. And you can only receive engagement that you can convert into cash from fans who enjoy your content.
Know your target audience and give them what they want. This is ultimately more rewarding than trying to be everything to everyone. Every time you create a TikTok, make sure your video will resonate with your community of genuinely interested fans. Consistently building content targeting your niche audience will also help you reach potential new followers. TikTok’s For You algorithm will show your videos to users who are most like your most engaged fans.
Do you want to increase your chances of reaching your target audience? Team up with a TikTok growth expert like High Social. High Social’s advanced, proprietary AI technology will enhance your audience-targeting capability. This means your videos will appear in front of more viewers who will most likely become engaged followers. And with engaged followers, you can reap the rewards of knowing how to make money on TikTok.
Earn lifelong fans with High Social. Start growing your TikTok today!