Do you want to know how to make money on TikTok?
Despite its international launch taking place only in 2017, TikTok has swiftly established itself as the foremost authority in various realms such as culture, politics, and fashion. With its exponential growth year after year, TikTok has become a formidable force in the digital landscape and is projected to amass two billion users by 2024. The platform’s appeal to the Gen Z demographic has made it a fertile ground for entrepreneurial endeavors, offering substantial marketing opportunities.
If you aim to capitalize on TikTok’s extensive user base to expand your audience, let’s delve into the strategies employed by some of the platform’s most influential creators and marketers. Gain insights into effective approaches for monetizing TikTok, ranging from merchandise sales to paid subscriptions.
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Gaining a thorough understanding of your target audience makes the process of determining how to generate revenue from TikTok users more straightforward. While there isn’t a singular method for monetization, those who earn the most typically manage multiple income streams that complement each other. With TikTok, the possibilities for monetization range from sponsored content to organic marketing and extend virtually without limits.
Join the TikTok Creativity Program (formerly TikTok Creator Fund)
Become a part of the TikTok Creativity Program (formerly known as the TikTok Creator Fund) and explore the opportunity to earn money. This program was introduced in February 2023 and officially launched in May, replacing the TikTok Creator Fund.
Creators who have amassed a substantial following now have the chance to monetize their content through the TikTok Creativity Program. Currently in beta as of May 2023, the program is initially open to creators based in the United States who have a minimum of 10,000 followers and 100,000 authentic video views within the past 30 days. It is expected that the program will expand to include more users in the upcoming months.
To be eligible for the program, users must be at least 18 years old, fulfill the minimum follower and video view requirements, and maintain an account in good standing. Creators who are already enrolled in the TikTok Creator Fund have the option to switch to the Creativity Program for further opportunities.
Sell merch and other products to your fans
Monetize your content and connect with your loyal fans by selling merchandise and other products on TikTok. Whether you’re a dancer, singer, or comedian, you can create and offer your own merch to your dedicated followers.
With a wide range of print-on-demand companies available, there is a plethora of merchandise options to choose from. You can sell an array of products such as t-shirts, tote bags, pillowcases, hats, coffee mugs, stickers, notebooks, and more.
Beyond generating revenue, selling print-on-demand products has additional benefits. Your branded merchandise fosters a stronger bond between you and your fans, and when they wear your merch, they help promote your business to a wider audience.
Capture the essence of your personal brand and leverage the power of merchandising to enhance your TikTok presence.
Engage and Receive Virtual Gifts During Live Broadcasts
TikTok’s live broadcasting feature offers creators a powerful tool to monetize their content. While many social networks offer live streaming capabilities, TikTok stands out by enabling followers to express their appreciation in real time through the exchange of virtual gifts, which can be redeemed for payment.
Interacting with users in real time fosters the development of meaningful relationships with your fans. When audiences feel deeply connected to a creator, they often become personally invested in their success. This not only enhances the live experience but also contributes to the growth of other monetization avenues.
By going live on TikTok and collecting virtual gifts, creators can strengthen their bond with fans and unlock additional sources of revenue.
Collaborate with TikTok influencers or other brands
TikTok influencers and brands can form valuable partnerships in various ways, including through the utilization of TikTok’s Creator Marketplace.
The Creator Marketplace, offered by TikTok, serves as an innovative platform that seamlessly connects influencers with suitable brands. This facilitates quick and easy partnerships for both parties involved, enabling the creation of engaging sponsored content.
For brands interested in running affiliate marketing campaigns, the marketplace provides a convenient means to explore content produced by creators who are open to collaborating with brands. This way, brands can swiftly identify potential influencers for their campaigns.
The Creator Marketplace functions as an influencer agency, streamlining the process and alleviating any awkwardness that marketers may encounter when approaching influencers for collaboration on other platforms.
If you’re seeking a simple and efficient method to discover brands for partnership opportunities, generate affiliate links, and effectively manage your brand collaborations, consider utilizing Shopify Collabs.
Drive sales with Shopify Collabs by connecting with influencers
Shopify Collabs offers a seamless solution for partnering with creators, promoting your products, reaching new customers, boosting sales, and monitoring the performance of your affiliate campaigns, all from within your Shopify admin.
One notable success story in the skincare industry is Peace Out Skincare. The brand was born out of its founder’s personal struggle with acne, hyperpigmentation, and other skin concerns. Enrico Frezza, the founder, embarked on an extensive journey of researching skincare product development and eventually established his own skincare brand. To build authenticity and drive sales, Peace Out Skincare initially partnered with TikTok influencers. This collaboration not only allowed the brand to reach a wider audience but also enabled the influencers to monetize their content through paid sponsorships.
For more options, check out our list of the best sites that pay you to sign up.
Partnering with TikTok influencers or other brands can be a powerful strategy for expanding your reach, enhancing brand credibility, and boosting sales.