TikTok has become one of the most popular social media platforms with over 1 billion active global users, operating in over 40 countries. If you’re already spending hours a day on TikTok, you might want to consider how you can monetize your hobby. In this article, we will discuss 12 proven strategies for making money on TikTok Monetization 2023: 12 Proven Strategies to Make Money on the Platform.
Join the TikTok Creator Fund
To earn money directly from TikTok, join TikTok’s Creator Fund. To do this, you need to have a minimum of 10,000 authentic followers and at least 100,000 video views over the last 30 days. The Creator Fund is a $1 billion fund designed to reward creators financially for creating great quality and engaging original content.
Apply for the Creativity Program Beta
TikTok’s Creativity Program Beta is a program that rewards creators for creating original content that follows the platform’s best practices and community guidelines.
TikTok has launched the Creativity Program Beta, a rewards program designed to help creators foster their creativity and generate higher revenue potential through high-quality original content. The program rewards eligible creators based on the performance of videos that meet the program requirements. Rewards are calculated based on qualified views and revenue per 1,000 qualified views (RPM). Creators will accumulate more rewards as their videos keep performing well.To join the Creativity Program Beta, creators over the age of 18 with an account registered in an eligible region and who meet the eligibility requirements can apply through the TikTok app. The application process involves tapping on Profile at the bottom of the screen, then tapping the Menu button at the top, followed by Creator tools, and finally Creativity Program Beta. Creators will receive a reply within approximately days of submitting their application
Go live on TikTok : TikTok Monetization 2023
You can use the app’s built-in live streaming feature to broadcast yourself and make money whenever someone watches your stream. Whenever someone tunes into your stream, they can send you coin donations which you can then exchange for hard cash.You can earn money on TikTok by promoting brands in your videos. Brands will pay TikTok users to use a certain product in their video in an attempt to get more exposure.
Another great way to make some money on TikTok is to sell merchandise to your followers. Whether it’s custom t-shirts with your username or brand, hats, phone cases, or any other item, you can make an easy profit from selling these items.
- Create branded products that reflect your account’s content and your interests. For example, if you do magic tricks on TikTok, consider selling branded playing cards. If you manage a petfluencer, try making and selling pet accessories like leashes and bandanas.
- Set up your TikTok shop by tapping on the “Profile” button, then tapping the “Menu” button, followed by “Creator tools,” and finally “TikTok Shop”.
- Add your merchandise to your TikTok shop. Ensure that your account’s shopping tab is tailored to draw customers since this will serve as your TikTok storefront. Keep style and quality in mind while adding photographs. Your brand should be identifiable in your product photographs, and your TikTok brand presentation should be consistent.
- Promote your merch to your followers. Engage with your followers and actively promote your merch to your target audience. Success in selling on TikTok relies on actively promoting your products2.
Sell Through TikTok Shopping
You can earn money on TikTok by promoting products and services through affiliate marketing. You can earn a commission on each sale made through your unique affiliate link.
Collect tips or donations
You can collect tips or donations from your followers through tipping platforms like Tipeee, Ko-fi, and Buy Me a Coffee.
Collaborate with a creator
Collaborating with other creators can help you grow your following and increase your exposure. You can also earn money by collaborating with other creators on sponsored content.
Collaborating with a creator can help you tap into their audience and borrow their engagement. This can help your content get on the Explore page of social media platforms like Instagram, which can lead to more engagement and followers. When collaborating with a creator, ensure that the collaboration is a natural fit and resonates with both audiencesIdentify the right creator to collaborate with. Look for creators who share your values, interests, and target audience. You can find creators on social media platforms like TikTok, Instagram, and LinkedIn
Grow and sell TikTok accounts
If you have a large following on TikTok, you can sell your account to other users or brands looking to grow their following.
You can earn money on TikTok by publishing sponsored posts. Brands will pay you to create content that promotes their products or services.
Patreon is a platform that allows creators to earn money from their fans by offering exclusive content and perks to their supporters.