TikTok is one of the world’s most popular social media platforms. Ever since it blew up among younger users worldwide, it hasn’t stopped smashing records. Recently, it was crowned as the most downloaded app in 2020 and 2021. That’s two years in a row of absolute domination!
With a user base that keeps growing by the second, TikTok's hard to brush off. If you’re someone looking for a platform that pays, you’ve probably wondered about this before: Can you earn money from TikTok?
The answer's a short and sweet yes. The app’s massive following offers a huge potential for you to grow your audience and maximize your earnings while on lockdown.
If you’re ready to capitalize on this app’s growing popularity, check out this guide on how to earn money on TikTok.
How to Get Monetized on TikTok
TikTok's a treasure trove of fun, bite-sized videos about all sorts of things. It’s also a great hangout spot if you’re looking for a quick mood booster.
But more than its entertainment value, TikTok’s monetary incentives are actually what draw creators, marketers, and entrepreneurs like yourself into the platform. Here are a few tips on how to monetize TikTok while enjoying the app:
1. Collect Virtual Gifts Through Lives
One way to earn money on TikTok is by hosting live videos and collecting Virtual Gifts such as Diamonds from viewers. Diamonds can be converted into cash, which you can withdraw into your designated account.
If you have many viewers who are at least 18 years old, you can get them to send you Virtual Gifts by creating high-quality live content that resonates with them. To gain support from your audience, make sure to understand what they like and what engages them the most.
2. Sell Merch to Followers
Selling your own merchandise is a classic way of earning extra regardless of the platform. TikTok's just as good a place as others when it comes to promoting your own custom-made products.
If you’ve managed to become an authority figure within your niche, then by all means try out this TikTok monetization hack. Imagine hitting two targets at once: you’re providing your audience with another way to connect with you while also giving yourself an alternative income stream.
This is also a good way to establish your own brand while preparing for a post-pandemic life. Who knows—after COVID, your merch might blow up and become a standalone business!
3. Promote Your Music
Thanks to its popularity, TikTok has also become a top place for artists to promote their music. If you're a musician who has an extra budget to spend on marketing, you can promote your music on TikTok to grow your fan base and multiply your earnings. All you have to do is get TikTok influencers to use your music in their videos.
It sounds simple enough, but it’s actually easier said than done. Hiring influencers means you have to do all the legwork yourself. Good thing there are tools in the market to help with this—one of them being BigTinySound, an influencer marketing platform for musicians.
How does BigTinySound work?
The platform enables music marketers to run targeted campaigns on TikTok. With this tool, you can launch a music campaign that connects you with eligible influencers that match your criteria, fall within your budget, and efficiently meet your predetermined targets. The payout for influencers is merit-based, meaning, they'll be paid depending on the number of views their video gets.
You can use this platform either as a sponsor or—if you’re open and qualified to promote other people’s music—an influencer.
4. Accept Brand Sponsorships
Another way to monetize TikTok is through brand sponsorships. If you’re someone who’s good at reeling in an audience, you may be approached by other brands for paid collaborations. If you’re up for it, you can include product placements within your content or accommodate any other agreed action between you and your sponsor.
But keep in mind that this option isn't for everyone. To even be considered by sponsors, you need to grow your audience first and attract a huge following. Once you’ve undeniably proved your drawing power and magnetic appeal, you can just sit back and wait for brands to knock on your door.
5. Post Affiliate Links
There are a few more ways on how to earn from TikTok, and one's through affiliate marketing. This is in a way similar to being sponsored by a brand, except that you’re only expected to post affiliate links. Also, you can proactively search for brands that have an affiliate program instead of waiting for them to approach you.
When posting regular content or livestreaming a video, you can use your influence to encourage followers to buy your partner brand’s products through your affiliate links. That way, you earn a commission with every purchase. You can also post the links on your bio and drive people to your profile.
6. Create TikTok Ads
Do TikTokers earn money through advertisements? The simple answer is yes—but you’ll have to shell out money first. While TikTok presents many organic marketing opportunities for you to promote yourself, your brand, or your business, there’s also an option for you to run ads if you want to cover all the bases.
Just looking at TikTok’s massive user base, you can already imagine how much your return on investment can be if you do things right. And launching an ad on the platform literally takes mere minutes. So it’s not so hard to do once you’ve already set an objective, arranged a budget, and prepared your marketing materials.
7. Join the TikTok Creator Fund
The Creator Fund is TikTok’s way of celebrating and rewarding its creator community. Through the Creator Fund, creators can monetize their engagement on the platform based on their performance.
TikTok has a fixed budget allocated for the Creator Fund over the next three years: $300 million or roughly ₱15 billion, which will be divided among eligible creators.
There's no fixed number of creators who can join this initiative. But there are TikTok monetization requirements that must be followed. To be eligible, you must:
- Be at least 18 years old;
- Have a baseline of 10,000 followers;
- At least 100,000 authentic video views over the last 30 days;
- Have an account that adheres to TikTok’s Community Guidelines and Terms of Service; and
- Be based in the United States, United Kingdom, France, Germany, Spain, or Italy.
Unfortunately, because of the last eligibility criterion stated above, creators in the Philippines aren't eligible to earn from TikTok’s Creator Fund yet. There aren’t any announcements yet from TikTok Philippines about whether and when the Creator Fund will be available in the country.
Other Tips on How to Earn Money on TikTok
Here are other things to keep in mind to truly leverage TikTok as an earning engine:
1. Take a Content-First Approach
Keep in mind that although your purpose for being on TikTok is to maximize your earning potential, that’s not necessarily something that your followers share. Regular people mostly use TikTok to discover great content, so don’t spam them with salesy posts and in-your-face advertising. Otherwise, you might end up chasing them off.
Learn to strike a balance between authentic shares and branded content. Also, you should respect your audience enough to understand and consider their wants and needs. It’s really a give-and-take relationship at the end of the day.
2. Use Video Editing Techniques and Tools
If you want to know how to earn money on TikTok and keep growing your audience, you need to up your game. Learn new video editing techniques and invest in whatever tools are available to help improve your content. You don’t even need to pay extra to enhance your posts.
Just make sure you can always keep up with other creators as well as with the quality of content that dominates TikTok.
Read more: Earn Money While You Sleep: Passive Income Ideas in the Philippines
3. Capitalize on TikTok Trends
Going with the flow's not as bad as it’s made out to be, especially in the context of social media marketing. Trends are there for a reason—and that reason's for you to capitalize on them.
Is there a new dance craze going around? Put your own unique spin on it for others to enjoy! Are glow-ups gaining ground again? Show others your own rendition! You get the point—TikTok trends are where the money’s at.
TikTok has undoubtedly proven itself as one of those legit mobile apps to help you earn extra. Now that you know how to earn money on TikTok, maybe it's time to give it a try. The platform can be your breeding ground for success.
All you need to be is talented or skilled enough to make a name for yourself with nothing but your own charm as capital. It doesn’t hurt to give yourself a shot at social media stardom. And the faster you start, the better.