Top 10 Ways To Make Money on TikTok was written by Marjolein Dilven and originally appeared on Hello Sensible. Marjolein is the founder of Radical FIRE. She has a finance and economics background with a master’s in Finance. Radical FIRE is a personal finance blog that helps you live your dream life by making more money and investing. It has been republished with permission. Please note that contributing opinions are that of the author. They are not always in strict alignment with my own opinions. –Joe.
Are you wondering how to monetize your TikTok as a stay-at-home parent? You might as well earn from spending time on the app. Here’s exactly how to make money on TikTok.
TikTok has only been around since 2016, and even in that short span, it has managed to cement itself among the top social media platforms in the world.
When caring for your children during the day, it can be hard to pick up ways to make extra income. There are plenty of side hustles that enable you to work from home, and TikTok is one of them.
There are tons of ways you can get an audience on TikTok. Whether you have funny kids, share your hacks on the platform, or prefer to make lifestyle content, an audience loves watching your type of content. Once you’ve built an audience, there are a couple of ways you can make money on TikTok.
Top 10 Ways To Make Money on TikTok
While there’s no one-size-fits-all answer to how to make money on TikTok, here are 10 proven ways how to make money on TikTok:
1. Sell Sponsored Posts
An excellent way to earn extra cash is by selling sponsored posts. That way, you can work with brands you’re love using and talk to your audience about those products or services.
Keep these in mind when selling sponsored posts on TikTok:
- It is advisable to choose products that you are passionate about and that you believe in. For example, if your audience sees you or your kids often wearing Adidas products, you could reach out to the company and ask them to work together on a post.
- Being creative in your videos and showing off your personality is important.
- Letting your followers know that you’re not working with any company, but you love this company and/or have used the past.
2. Affiliate Marketing Programs
If you’re searching for one of the best ways to earn money online without sacrificing your time with the kids, affiliate marketing might be an ideal option.
You can promote products or services with affiliate marketing and earn a commission on each sale you generate. Some people present affiliate marketing like you’ll become rich overnight, but that not true, it requires work and determination.
To be successful, you need to build up a large following on TikTok and create engaging content that is compelling enough to drive purchases via affiliate links. You can also use TikTok ads to promote your affiliate products or services.
For example, if you have a notable following and promote a product that sells for $100, you could earn a commission of $10 for every sale you generate. If you can generate 10 sales, that’s $100 in commissions – not too bad for work you can do while your kids nap.
3. Create and Sell Your Merchandise
One way to monetize your TikTok is by making and selling your merchandise. By capitalizing on your popularity on the platform, you can create T-shirts, mugs, phone cases, and other items featuring your TikTok username or fun quotes.
You can also offer discounts and giveaways to help spread the word about your new line of merchandise. If you put in the work, you’ll be able to turn your love of TikTok into a profitable business venture.
4. Offer Paid Consultations or Coaching
Want to know how to make money on TikTok? Everybody has a unique skill set they’ve mastered.
You can tap into TikTok’s vast potential to make money by offering paid consultations or coaching. But, of course, you’ll need to work to build up a following and establish yourself as an authority figure.
You can make money selling your expertise if you want to supplement your income. Courses about sleep-training your kids, getting them to eat their veggies, or organizing a home are some examples that may fit your skills.
5. Grow and Sell TikTok Accounts
Essentially, creating a TikTok account and using various marketing strategies to grow the account’s following can make you a lot of money. Once the account has a substantial following, you can sell it to businesses or individuals looking to target a flock of customers on the platform.
While this process may sound relatively straightforward, there are a few things you’ll need to remember if you want to be successful.
You’ll need engaging content. It’s also important to be strategic about which hashtags you use and when you post your videos. You’ll also need to work to grow your account organically; there’s no shortcut to success when growing a TikTok following.
6. Leverage TikTok Creator’s Fund
The TikTok Creator’s Fund is a pot of money that TikTok has set aside to pay creators who produce jaw-dropping content. Creators submit their videos to the fund, and then TikTok evaluates them and selects a certain number to be featured on the app.
Upon video approval, you can expect to receive payments based on the number of views your videos get.
If you want to be eligible for selection, your video must pass certain criteria, including original and premium content that is entertaining and informative. Also, you must have a TikTok account with at least 10,000 followers.
7. Conduct Paid Sweepstakes
One way to monetize TikTok is by hosting paid challenges or competitions. By setting up a challenge and requiring participants to pay a small fee to enter, brands can accumulate significant revenue while promoting their products or services.
Paid challenges can also drive sales of physical goods, such as apparel or accessories. For example, a brand could host a competition to design the best outfit using only items from their store. The winner would then receive a discount on their purchase, and the brand would generate publicity and sales.
8. Offer Freelance Services
Offering paid services such as translation or graphics design. If you have a strong skill set that others can benefit from, there’s a good chance you can make money by providing it as a service on TikTok.
Sign up on freelance marketplaces and websites like Fiverr, FlexJobs, and Upwork, and start charging your clients for your services. This effort will also help you make legitimate money and work whenever possible.
For example, you can be a good graphic designer excelling in logo and editing services, a freelance writer selling article and blog writing services, a data-entry person, or a search engine optimization specialist who performs an SEO audit on your website. People need all kinds of odd jobs, so you’ll always have enough work to do.
9. Become a TikTok Consultant
As a TikTok consultant, you’ll help businesses to navigate the platform and create content that resonates with users. You would be responsible for helping clients create content, develop strategies, and engage with their audience.
So if you’re creative and know how social media works, becoming a TikTok consultant is a great way to earn some extra cash. You can determine when you work and how many hours you make, making it possible to plan it when the kids are at school or taking their naps.
10. Invest in TikTok’s Live-Streaming Feature
While it may seem like all fun and games, there is a way to earn money online on TikTok by going live and collecting virtual gifts from fans.
Here’s how it works: when you go live on TikTok, viewers can send you virtual gifts that you can redeem for cash. The amount you earn per gift depends on the type of gift and how many you receive.
Tips on How To Go Viral on TikTok
Going viral in today’s social media-driven world has become the holy grail for many content creators. It will help you grow your followers and make money on TikTok.
While there’s no fail-safe formula for success, here are a couple of things you can do to boost your chances of going viral on TikTok.
Apply the 3-Second Rule
This 3-second rule focuses on the first few seconds of the video. If you’re not able to hook the audience, they’re not going to watch further.
Creating trending, engaging, original content that packs a punch is imperative. Set the tone right from the start by giving a solution to a problem that’s important to them. When you hook them right in the beginning, they’ll want to watch until the end.
Keep Video Length Short
Another thing that you’re more likely to discover in viral videos is that they’re created on short timelines. Anything creative, engaging, and fun to watch is kept at short lengths to retain the audience’s interest.
You may compare the traffic or engagement rate on longer videos of up to one minute and shorter videos of up to 10 seconds. TikTok gauges the video’s quality based on the average length of time, and as a result, shorter versions tend to perform well.
Frequently Asked Questions (FAQs) – How To Make Money on TikTok
How Do You Get Paid on TikTok?
You can get paid on TikTok via Paypal or through a bank transfer.
How Much Money Can You Make From TikTok?
How much money you can make from TikTok depends on your monetization strategy. The majority of people on TikTok earn a small amount. For example, a user with 10,000 followers might earn $50 per sponsored post, while a user with 100,000 followers could earn $500.
How Quickly Can You Make Money on TikTok?
There is no simple answer to this question, as it depends on many factors, such as your niche, audience size, and engagement rate. However, it is possible to make decent money from TikTok if you work and build up a large enough following over time.
Conclusion – How To Make Money on TikTok
TikTok’s prospects seem limitless. Even Mark Zuckerberg, CEO of TikTok competitor Meta/Facebook, acknowledged that TikTok is growing fast, with global consumer spending on the app reaching around $2.3 billion.
Cashing in on the TikTok bandwagon is very doable. A good strategy to tap multiple revenue streams, such as brand sponsorships, advertisements, and merchandising, can turn your goofy or informational videos into money-makers.