How to make money on TikTok?

TikTok - a short-form video sharing platform that attracts millions of people worldwide, is not only an entertainment platform but also a place to create money-making opportunities. Let's explore how to make money on TikTok with the following article.

Can you make money on TikTok?

In 2023, TikTok is ranked as the 6th most widely used social media platform globally, with over 3 billion downloads and approximately 50 million daily users. As you can see, this is a vast market with ample opportunities to make money, to the extent that it can even be considered a full-time job. Are you curious about how people make money on TikTok? Do you want to transition from being a viewer to a content creator to earn money? Let's explore the various ways you can make money and determine which method suits you best on this platform

1. Creating a TikTok Account

   

Before delving into ways to earn money on TikTok, you need to create an account to use the platform. Fortunately, the registration process is straightforward.

Step 1: Access the Google Play Store or the App Store, search for the keyword 'TikTok,' and download the application.

Step 2: Once the download is complete, open the app, select the 'Me' section, and then press 'Sign Up' to create an account.

Step 3: Choose from the registration options suggested by TikTok, such as using an email address, phone number, Facebook, etc.

Step 4: Complete the necessary details for your account, including username, profile picture, TikTok ID, etc.

After completing these steps, you'll have your own TikTok account, allowing you to unleash your creativity. Now, you can explore how TikTok compensates content creators and find a suitable path for yourself.

2. How does TikTok pay content creators?

Creators can earn money through the number of views on their videos. For every 1000 views, you can be paid around $0.02 - $0.04. However, this earning model is limited to TikTok accounts from specific countries: the UK, France, the US, Germany, Spain, and Italy.

In other countries where TikTok has not implemented this payment policy, users can still earn money through various methods, such as direct selling on TikTok Shop, becoming an influencer to promote products, live streaming for sales, receiving donations during live streams, or engaging in affiliate marketing. I will provide more detailed information on these methods in the following section.

In general, it is essential to maintain creativity to ensure that views and followers continue to increase, making it easier for you to earn money on this platform. 

6 Ways to Make Money on TikTok That You Need to Know

The first thing when you want to make money on TikTok is to enable the earning feature. To be eligible to earn money on this platform, you must meet the following conditions:

• Users must be 18 years old or older.

• The account must have over 10,000 followers.

• In the last 30 days, the account must have achieved over 30,000 views.

• The account needs to activate the Pro Account feature.

1. Sign up for Tiktok Creator Next

TikTok Creator Next is a program developed by TikTok to support creators in building their communities. It can be said that this is a form of reward that TikTok gives to creators who have a significant impact in making the platform more widely known

1.1. TikTok Creator Fund

This is one of the ways TikTok pays creators based on their dedication to the platform. Factors that may affect the amount you earn on TikTok include video views, user interactions with the video, as well as adherence to TikTok's guidelines. If you meet the criteria to enable earnings, this income stream can be a significant potential source of revenue for you.

1.2. TikTok Creator Marketplace

This is where businesses can connect with TikTokers for collaboration, and there are two connection methods you should know:

• Direct Collaboration Invitations: With this method, businesses take the initiative to contact and connect with TikTokers they find impressive and suitable for promoting their products.

• Participate in TikTok-Initiated Campaigns: In addition to brands actively reaching out to creators, TikTokers can also proactively engage with brands by participating in campaigns initiated by TikTok. This helps expand their network and allows them to connect with brands that align with their personal brand

1.3. TikTok Live and gifts

Gifts are used when users want to show appreciation to their favorite creators. Users can purchase coins, a virtual currency on TikTok, to send gifts such as roses, diamonds, and thousands of other options available for the audience to choose from. After receiving these gifts, creators can convert and withdraw the corresponding monetary value.

2. Direct Product Selling on TikTok

TikTok Shop is increasingly growing and attracting thousands of sellers actively participating. According to user statistics, TikTok users are twice as likely (compared to non-TikTok users) to consider live streaming a reliable method for shopping. This, coupled with the advantage of video advertising, leads to longer user interaction times, up to 2 hours, compared to other e-commerce platforms, where the user's time on Amazon is only 9.7 minutes. 

Certainly, to succeed with TikTok Shop, you need to build a specific strategy for your brand, with creative and engaging content. Additionally, regular live streaming is essential to interact with your customers. Your business can not only build a brand but also boost sales on TikTok Shop, making it an ideal platform for your business.

3. Earning Money Through Affiliate Marketing Programs

Earning money on TikTok through affiliate marketing is a fantastic way to leverage the platform's power. It's quite simple – you just need to attach affiliate links to products on your profile, and every time a buyer clicks on the link and successfully completes a transaction, you receive a commission.

With this approach, the more creative your videos, the more engaging they will be for viewers. You can share your experiences after trying the product to enhance credibility with your audience. This turns your creativity into a highly potential source of income.

4. Receiving Donations from Livestreams on TikTok

Cashing in virtual items during live streams is another potential money-making method on TikTok. Throughout your live stream, you can create satisfaction for viewers, and they may gift you virtual items by purchasing them. Later, you can convert these items into cash and transfer them to your bank. However, there are downsides, such as TikTokers being willing to do inappropriate things or even anything to receive donations. Yet, with the right approach and unique creativity, you can generate decent income from this.. 

5. Becoming a Key Opinion Leader (KOL) or Key Opinion Consumer (KOC) to Advertise Products

Scrolling through TikTok nowadays, it's not difficult to come across famous individuals endorsing brands, and the compensation for this work depends on the number of viewers and followers you have, as well as your ability to reach users through videos. Brands are willing to pay a substantial amount for individuals they find suitable for promoting their business and products.

Becoming a Key Opinion Leader (KOL) or Key Opinion Consumer (KOC) is not too difficult if you are determined. You also need a specific strategy, and your channel should be focused on a particular content theme rather than posting everything on your channel. 

6. Getting Paid for Reviewing Digital Products

This method is similar to the affiliate marketing approach I mentioned earlier. You will review and assess digital products, linking to them in the process. Partners will pay you based on the number of clicks or sign-ups, depending on their requirements and the products they offer. Some products you can introduce include games, apps, online courses, etc. Like before, creativity is crucial; turning mundane review content into something fresh and intriguing will attract viewers, prompting them to register and use the product..