Money / Entrepreneur

How To Make Money on TikTok in 2023: 4 Best Strategies

June 22, 2023

8 min Read

Written by Jamie Johnson

Edited by Elizabeth Constantineau

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TikTok is currently one of the fastest-growing social media platform networks in the world. It is estimated that the company has over one billion active monthly users. This kind of rapid growth means that there are plenty of opportunities to build a following and maybe even reach 100,000 video views.

How To Make Money on TikTok: 4 Best Ways

Learning how to make money on TikTok is relatively easy but it’s important to understand that you’ll need a significant audience — especially if you’d like to earn cash or collect tips straight from the platform to your TikTok account. You’ll find that a certain number of followers and views will be required to start making real money. Be sure to engage your audience consistently with content and grow your base of TikTok users.

You can use TikTok to start creating multiple revenue streams. Here’s a look at four ways you can start making money on TikTok:

Join the TikTok Creator Fund
Start an advertising and affiliate marketing program
Build your brand sponsorships
Get donations as an influencer

1. Join the TikTok Creator Fund

The TikTok Creator Fund is a program where TikTok pays you directly for the content you create. Essentially, the program is a revenue-sharing model where TikTok pays you a portion of the money they earn on advertising. The Creator Fund is the only way you’ll get paid directly by TikTok, but the program has received mixed reactions so here are some key takeaways:

The amount you make is based on your total audience and engagement.
You have to be at least 18 years of age.
You have to have at least 10,000 followers.
You need at least 100,000 views of your videos or live streams in the last 30 days.
Once you hit these requirements and threshold, you can apply to start receiving a cut of TikTok’s profits.

Be aware that it’s not entirely clear what factors payment is based on. Some users have complained that their engagement dropped after signing up for the program. But it may be worth your while to sign up and see if utilizing the TikTok Creator Fund is right for you.

2. Start an Advertising and Affiliate Program

What if you’re not interested in creating content for TikTok but still want to find a way to make money using the platform? Well, if you have your own products and services you want to promote, you might consider paying for TikTok advertising.

TikTok ads last up to 60 seconds but the platform suggests shorter, such as 15-second lengths as a great way to promote your brand. It will help you reach a younger audience that is often less receptive to other forms of advertising.

Affiliate Marketing

Affiliate marketing is one of the most popular ways to earn money on TikTok. As an affiliate, you promote the products and services of other companies. Often, affiliate marketing is most effective when you’re promoting companies you love and fully support so here are some things to consider:

When a subscriber follows one of your affiliate links and makes a purchase, you’ll earn a percentage of the money they spent.
Many people like affiliate marketing because it doesn’t require that you create your own products and services.
Regardless of the type of niche you’re in, there are endless products and services you can promote.
If you get a large enough following, you can build up a hefty income through affiliate marketing.

3. Build Your Brand Sponsorships

If you’ve built up a significant following on TikTok, brands will be willing to pay you good money to feature them in one of your videos. You’ll create a video for your audience endorsing that company’s product or service to your followers. Here are some key things to know:

Unlike affiliate marketing, you’ll be paid for the content you create, whether anyone buys the products or not.
Brand sponsorships can be very lucrative depending on how many followers you have.
If you have a large following, you could earn thousands of dollars for a single video.
If you’re interested in pursuing brand sponsorships, just make sure you’re selective about the companies you work with. Just like with affiliate marketing, it’s the most effective when you promote companies you’re passionate about.

4. Get Donations as an Influencer

If you have at least 1,000 followers on TikTok, then one of the easiest ways to start making money is by accepting donations or live gifts from your followers. The TikTok shop has its own currency, and users can buy coins and donate them to their favorite influencers.

Relying on donations is not a reliable way to make money on TikTok because you’re at the mercy of your followers and whether or not they feel like donating. But it is an option, and it’s an excellent way to make a little bit of money in the beginning.

Bonus Money-Making Strategy

Once you establish yourself with a decent following, you can sell your own products. It may take time for you to get to this point, but selling your products will give you more control over your brand and income.

When you sign up for the Creator Program or use affiliate marketing, you’ll only get to keep a portion of the money earned through your content. And that company could change the terms of your agreement at any time.

But when you sell your own products, you get to keep 100% of the earnings. And this will allow you to build your own brand and set yourself up for success in the long run.

Final Take To GO

TikTok can be a great way to build a following and start making money as an influencer on the platform. But just like any other business, you’ll have to put in the work first. Take the time to develop a relationship with your followers, and be thoughtful about your monetization strategies.

And only promote products and services that you really believe in. This will give you the best chance of success in the long run.

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FAQ

Here are the answers to some of the most frequently asked questions about how to make money on TikTok.

How much do you get paid on TikTok?
- The amount of money you could earn on TikTok depends on the method you choose. You could passively earn between two and four cents for every 1,000 views per video. Plus, diversifying into other income streams could earn you more cash when you promote a brand or product or offer consulting services.
How many views do you need on TikTok to make money?
- The number of views you need to earn money on TikTok will vary based on factors such as content and payment options. For example, if you wanted to get paid directly through the platform via the TikTok Creator Fund, you need at least 100,000 views of your videos or live streams in the last 30 days.
Can you consult on TikTok?
- If you've cracked the code on how to build a following on TikTok, many people will be willing to pay you good money to learn that information. So you may be able to utilize your insights and offer TikTok consulting services.
- Before you move forward with any type of consulting arrangement, make sure you outline the terms and deliverables in a contract. And it may be worth your while to negotiate a revenue-sharing agreement. That way, if any of your clients see massive success on the platform, you'll receive a piece of their earnings.
How much does one million views on TikTok pay?
- Though the price will vary, it is estimated the amount TikTok pays out per 1,000 views is roughly $0.02 to $0.04. This means that for a million views, you can expect to receive between $20 to $40.

Cynthia Bowman and Caitlyn Moorhead contributed to the reporting for this article.

Information is accurate as of June 22, 2023.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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