TikTok is a popular social media platform where users can create and share short video. The platform has become increasingly popular in recent years, with over 1 billion active users worldwide.
If you’re a TikTok creator– you’re probably wondering- how you can make money from your content. There are numerous ways to do this and the best approach for you will depend on your niche, audience size and engagement rate.
1. TikTok Creator Fund
TikTok Creator Fund is a ‘treasure trove’ for creative individual, who want to monetize their content on the platform. Launched in 2020, the fund has rewarded creators with over $1 billion so far. But how much can you really make from it?
The good news is that, there’s no limit to how much you can earn from the Creator Fund. It all depends on the quality and engagement of your videos. The more views and likes you get, the more money you’ll make.
However, the bad news is that, the Creator Fund is not available to everyone. You need to have at least 10,000 follower and 100,000 views in the past 30 days to be eligible.
If you meet the eligibility criteria- you can apply to join the Creator Fund through the TikTok Creator Portal. Once you’re approved, you’ll start earning money from your videos right away. The fund is open to eligible users based in the U.S., U.K., Germany, Italy, France and Spain.
How much can you make from the Creator Fund?
TikTok has not publicly disclosed the specific payout rate for Creator Fund, but users have reported earning anywhere from $0.02 to $0.04 per 1,000 views. The exact amount you earn will depend on numerous factors- including the number of views your videos get, the level of engagement your videos receive, and the location of your viewers.
How to join the Creator Fund
To join the Creator Fund, you must meet the following eligibility criteria:
- You must be at least 18 years old.
- You must have at least 10,000 followers.
- You must have at least 100,000 views in the past 30 days.
- You must have an account in good standing with TikTok’s Community Guidelines and Terms of Service.
Once you meet the eligibility criteria, you can apply to join the Creator Fund through the TikTok Creator Portal.
2. TikTok Live Gifts
If you have at least 1,000 followers- you can go live on TikTok and receive gifts from your viewer. Gift can be redeemed for diamonds, which can be exchanged for cash.
The value of gifts varies depending on the type of gift. For example- a “rose” gift is worth 10 diamonds, while a “lion” gift is worth 500 diamonds.
Want to get in on LIVE Gifts? Visit TikTok’s website to find out whether you’re eligible and how to enable this monetization feature.
3. Brand Partnerships
Brand partnership are still one of the most popular and effective ways for brands to reach- target audiences and influencer marketing industry is expected to hit $21.1 billion in 2023.
Today- brands and TikTok influencer are partnering in creative and innovative ways. From sponsored post and giveaways to TikTok takeover and duets, the possibility are endless.
And the good news is, you don’t need a massive following to land brand deals. In fact- brands are increasingly interested in collaborating with creator- with smaller TikTok audiences, given they usually have higher engagement rates and access to niche community.
When it comes to brand partnerships- the golden rule is to charge what you’re worth. But how do you know what you’re worth?
A few years ago- standard rate was $100 per 10,000 followers. But today- creators are commanding much more. In fact, some creators with niche audiences are charging upwards of $500 per 10,000 followers.
So, how do you determine your rate? Here are a few factors to consider:
- Your follower count. This is obviously an important factor, but it’s not the only one.
- Your engagement rate. A higher engagement rate means that your audience is more engaged with your content, which makes you more valuable to brands.
- Your niche. If you have a niche audience, you’re more valuable to brands that target that niche.
- Your experience. If you have a lot of experience working with brands, you can charge more.
Once you’ve considered these factors, you can start to develop a pricing structure. A good rule of thumb is to start at $100 per 10,000 followers and then increase your rate based on your engagement rate, niche, and experience.
It’s also important to remember that you’re not obligated to accept every brand deal that comes your way. If you’re not interested in a particular brand or if they’re not offering a fair rate, feel free to decline.
4. Creating and Selling Digital Products
In today’s digital world- digital product are one of the most valuable asset a creator can have. With the digital media market, set to reach $624 billion in 2023, selling digital products is fast becoming one of the most popular and profitable ways for creator to earn.
Digital products can take many forms, from e-books and online courses to templates, software, website themes, stock music, downloadable art prints — the list goes on.. But what makes? so appealing to creators is that they can be created once and sold over and over again. This means- that creators can generate a steady stream of income, even they’re sleeping.
Of course- there are some challenges associated with selling digital products. Creators need to create high-quality product, that their target audience is willing to pay for. They also need to promote their products effectively and build a sales funnel.
But for creators who are willing to put in the work, selling digital products can be a very rewarding experience.
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5. Become an Affiliate Marketer
As an affiliate marketer- you can make money by promoting the products and brand, you love. It’s a simple yet effective way to generate income, especially if you have following on TikTok.
To become an affiliate marketer- you need to sign up for an affiliate program. There are many different affiliate programs to choose from- so you can find one that’s a good fit for your niche and audience.
Once you’ve signed up for an affiliate program, you’ll be given a unique affiliate link. This is the link, that you’ll use to promote the product or service.
When someone click on your affiliate link and makes a purchase- you’ll earn a commission on the sale. The commission rate varies depending on the affiliate program but it’s typically a percentage of the sale price.
To promote affiliate products or services on TikTok, you can use a variety of methods, such as:
- Creating videos that showcase the product or service
- Mentioning the product or service in your video descriptions
- Using affiliate links in your bio
- Partnering with other creators to promote the product or service
It’s important to note that you must disclose to your audience that you’re an affiliate marketer and that you may earn a commission on sales.
6. TikTok Creativity Program Beta
In 2023, TikTok launched – Creativity Program Beta, a new monetization tool designed to reward creator for creating high-quality, engaging videos. The program is still in beta but it has the potential to be major boon for TikTok creator.
One of the biggest difference between Creativity Program Beta and previous Creator Fund, is that it pays creators based on qualified views, rather than total views. This means, that creator are more likely to be rewarded for creating videos that are actually watched and enjoyed by their audience.
Additionally- Creativity Program Beta pays creators at a higher rate than Creator Fund. TikTok has not released specific details about payout rates, but some creator have reported earning up to 20 times more money through the Creativity Program Beta than they did through the Creator Fund.
7. Create User-Generated Content (UGC) for Brands
UGC creators, or user-generated content creators, are paid by brands to create TikTok videos, that look and feel like real user-generated content. The difference between being a brand partner and UGC creator is that, UGC creators’ content is posted to the brand’s TikTok account, rather than their own.
UGC content is a fast-growing money-maker in creator economy and TikTok recently launched its own UGC program called – Creative Challenge. This program pays creator to make ads for brands and payout are reportedly quite impressive.
To become UGC creator- you need to have strong understanding of the TikTok algorithm and what types of content perform well on platform. You also need to be able to create high-quality, engaging videos that are relevant to the brand’s target audience.
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8. TikTok Ads
TikTok ads are a ‘powerful tool’ for business of all size. They allow- you to reach a large and engaged audience with your marketing message. TikTok ads are also highly targeted- so you can ensure that your ads are seen by the people who are most likely to be interested in what you have to offer.
There are many different types of TikTok ads, including:
- In-feed ads: These ads appear in the user’s feed, just like any other TikTok video.
- Branded effects: These are interactive filter and effects that users can add to their own TikTok videos.
- Hashtag challenges: These challenges- encourage users to create their own TikTok videos using a specific hashtag.
- Branded live streams: These live streams allow businesses to interact with their audience in real time.
Tips for making money on TikTok
- Create high-quality and engaging videos that are relevant to your niche and audience.
- Be consistent with your posting schedule.
- Use trending hashtags and sounds in your videos.
- Collaborate with other TikTok creators.
- Promote your TikTok account on other social media platforms.
Making money on TikTok takes time and effort, but it is possible. By following the tips above, you can increase your chances of success.