Making Money on TikTok: 12 Must-Try Tactics for 2023 (1/2)

Last Updated on July 3rd, 2023 at 5:23 pm

If a water park influencer can profit from TikTok, why not you? If you possess an entrepreneurial spirit and have a talent for crafting snappy, short videos, TikTok presents an opportunity to generate a substantial income. Considering the vast and engaged audience on this thriving social media platform, there are ample prospects to entertain and even entice viewers to spend their hard-earned money. As of 2023, TikTok stands as the 6th most popular social media platform globally, boasting over 3 billion downloads and 50 million daily active users. This translates to a significant market. Given these statistics, it’s no wonder that many individuals have already discovered how to monetize their presence on TikTok, with some even considering it their primary occupation. Whether you aim to commit fully or simply explore a new side hustle, your path to becoming a TikTok business maestro necessitates some preliminary research. Luckily, you’ve arrived at the right place. Continue reading to discover the most effective strategies for kickstarting your journey toward making money on TikTok.

Is it possible to make money on TikTok?

Absolutely, making money with TikTok is entirely possible, and countless individuals have already achieved financial success. (Shoutout to you and your Tesla Model X, Addison Rae.)

There are several avenues through which you can earn a substantial income.

One direct method to generate money from TikTok is by joining the TikTok Creator Fund. To be eligible for this program, you must have a minimum of 10,000 genuine followers (farewell, bots!) and have garnered at least 100,000 views in the past 30 days. Additionally, you must be 18 years or older and reside in the United States, United Kingdom, Germany, France, or Spain.

In addition to this official method supported by the app, there are numerous other ways to make money on TikTok, even if you don’t have a massive following. (If you’ve already perused our guides on making money on Instagram and YouTube, you’ll find these strategies quite familiar.)

Let’s dive right into it!

12 different ways to make money on TikTok

1. Register for TikTok Creator Next

Creator Next serves as the gateway for TikTok users to unlock a plethora of monetization features within the app.

TikTok defines Creator Next as a platform designed to assist creators in monetizing their content and nurturing their communities. By joining Creator Next, you gain access to a range of tools and features that empower you to transform your creativity and passions into something more significant, be it a lucrative side hustle or a flourishing business venture.

join creator next to unlock more creator tools

To become a part of TikTok Creator Next, you must fulfill the following eligibility criteria:

  • You must be 18 years of age or older.
  • Within the last 30 days, you should have uploaded a minimum of three videos.
  • Your videos should have accumulated at least 1,000 views in the last 30 days.
  • You need to meet the minimum follower requirement set for your region.
  • You must be based in the United States, United Kingdom, Germany, France, Italy, or Spain.
  • Please note that Business Accounts are not permitted.

By joining TikTok Creator Next, you gain access to various monetization features. However, it’s important to note that each feature has its own eligibility threshold.

TikTok Creator Fund

In a groundbreaking move on July 22, 2020, TikTok announced the launch of their Creator Fund, with an initial commitment of $200 million to empower aspiring creators and nurture inspirational careers.

The announcement was met with immense enthusiasm from both the online community and the world at large. Just a week later, TikTok revealed their ambitious plan to expand the fund to a staggering $1 billion by 2023. But how can you tap into this creator cash? TikTok has established a set of criteria that need to be met in order to participate:

  • Reside in the United States, United Kingdom, France, Germany, Spain, or Italy.
  • Be at least 18 years old.
  • Accumulate a minimum of 10,000 followers.
  • Garner at least 100,000 video views in the last 30 days.
  • Maintain an account that adheres to TikTok’s Community Guidelines and terms of service.

To apply for the Creator Fund, you can access the application through the app itself. If you don’t already have a Pro Account, you will need to switch to one. Once you have a Pro Account, navigate to the Creator Tool and click on TikTok Creator Fund to submit your application.

creator fund dashboard

TikTok Creator Marketplace

If you live in one of the countries listed, you can join the TikTok Creator Marketplace to connect with sponsors and brands. Any brand can participate, but influencers must be invited or apply to gain access to the Marketplace. Marketplace has 800,000 creators from all over the world as of December 2022.

tiktok creator marketplace campaign name

Video Gifts and Live Gifts

TikTok Creator Next users can receive “gifts” from viewers on their Live videos and regular TikTok video posts. These digital gifts can be exchanged for cash and withdrawn.

digital gifts on tiktok

2. Collaborate with a reputable brand

TikTok defines sponsored content as content in exchange for which you receive something of value. Isn’t that the goal? For example, a brand may pay you to make a TikTok video about how wonderful their soy candles smell, or you may be given a free skydiving trip in exchange for posting about it. (However, we do not recommend taking advantage of any free skydiving offers).

According to Statista, the global value of influencer marketing will be $16.4 billion USD in 2022, more than doubling from 2019. According to an eMarketer survey, 75% of medium-to-large U.S. companies intend to use influencer marketing this year… even as brands withdraw from social media advertising.

While Instagram remains the most popular platform for influencer-brand partnerships, TikTok is making a strong push for the top spot.

But just because a brand offers you a chance doesn’t mean you have to take it. Even if the payoff appears to be sweet, partnering with companies whose views differ from your own can be a mistake. The way you interact with your audience is entirely unique to you. Your followers may be interested in your inspirational soup metaphors or how many languages you can speak or manicure, but they are also interested in your ethics.

Here are some suggestions to help you get started with sponsored content:

Only contact brands or organizations that you truly admire

Your followers will see right through you if your TikTok is all about your raw vegan journey and then you start posting about your favorite local burger joint. This is not only confusing, but it also makes you appear to be a sellout. As a result, make sure that your sponsored content complements your regular content.

Create a press kit for your TikTok channel

A press kit is similar to a personal movie trailer. It promotes all of your great qualities (and gives brands good reasons to work with you) and includes contact information, photos, and notable accomplishments. With a bag of popcorn in hand, make them want to see what happens next. Templates for press kits are available for free on websites such as Templatelab.

Make a few unsponsored posts

Brands will want to see that you have the ability to generate sales for their company. Making a couple of (non-sponsored) posts about your favorite pair of shoes will increase the likelihood that that elusive specialty sock brand will want to collaborate with you.

Use the Branded Content toggle

People dislike being duped, and it turns out that apps do as well. TikTok developed the Branded Content toggle to ensure that users were honest. If you’re making content for sponsorships, press the button (or risk having your video removed).

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