How To Monetize TikTok (6 Ways To Make Money in 2023)

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Get ready to unleash your potential on the hottest social media platform of the moment – TikTok! It’s no secret that TikTok has taken the world by storm and has become a hub for content creators and brands alike. With its unique algorithm, TikTok has managed to maintain an incredible organic reach that is unmatched by any other social media platform out there. But the real question is, how can you capitalize on this and start making some serious cash? Well, you’re in luck because we have 6 tips that will help you monetize your TikTok account in no time! From sponsored content to merchandise sales, we’ve got you covered. So get ready to turn your passion into profit on TikTok!

TikTok Creator Fund

Some time ago, TikTok announced the launch of a special fund to reward creators on the platform. They started with an allocation of $200 million, but due to the initiative’s good reception, they expanded it to $1 billion for the United States over the next three years and more than double that amount for the rest of the world. This initiative enables creators to earn money directly from TikTok. As a result, the social network aims to avoid the same fate as Vine, which shut down when its creators left due to the lack of a monetization model.

TikTok Shopping

In late October 2020, TikTok announced a global partnership with online shopping platform Shopify. The agreement allows Shopify users to use TikTok to promote their products. Conversely, TikTok content creators can create a store with their own products on Shopify and promote them through the social network. Shopify users can create, execute, and optimize marketing campaigns on TikTok directly from the Shopify dashboard by installing the TikTok channel in the Shopify App Store. With this tool, merchants can create native, shareable video content. It is also possible to measure conversions coming from TikTok via a specific pixel.

Direct Links

Similar to Instagram’s famous “link in bio,” the link in a TikTok user’s profile allows creators to leverage visits to their content to generate traffic to a website. To use this function, simply click on the “Edit profile” button and add a website just below the bio. This opens up two possibilities for creators to earn money with TikTok: Linking to a brand’s website: Influencers can more easily get sponsorship deals with brands now that they have a very easy way to measure the success of campaigns in terms of traffic to the advertiser’s site. Linking to their own products and services: If the creator has an online store where they promote their own products and services, or an affiliate website where they promote third-party products in exchange for a commission, the link in the bio allows them to take advantage of the traffic coming from TikTok to monetize it.

TikTok Ads

TikTok advertising has multiple formats for advertisers, so let’s take a look at some of the options: TopView: These ads appear at the top of the “For You” feed when first opening TikTok. They are full-screen videos of up to 60 seconds, blocking out any other content. In-Feed: These are videos integrated into the “For You” feed, displayed as if the advertiser were a TikTok creator. Brand Takeover: This is a large-format static or dynamic ad that appears when users open the app. This ad type essentially “takes over” the user’s screen for a few seconds, providing high visibility for the brand being advertised. This option is limited to one advertisement per day. Hashtag Challenge: A brand presents a video with a challenge and encourages users to try it and upload the result to their profiles along with the corresponding hashtag. Branded Effects: This involves creating a customized filter with more than 20 different formats so that people can use it and interact with the brand through their videos. This option is similar to Branded Lenses or customized augmented reality filters. Although TikTok’s advertising revenue does not go directly to content creators, they can use it to promote their own products and services or enhance their presence on the platform.

TikTok Creator Marketplace

The TikTok Creator Marketplace is the official platform for brands and creators to collaborate on TikTok and reach agreements with each other. For creators, TikTok Creator Marketplace provides an easier way to monetize their content on the network. For advertisers, it’s a free way to find the perfect influencer to promote their brand. The platform offers data, tools, direct access, and communication at no additional cost. Advertisers can filter creators based on different criteria, such as the topics they talk about, their reach, the demographics of their followers, average performance, or interaction rate. Once the advertiser has selected the influencer, they can send them a message directly through the Creator Marketplace. As with any other sponsorship, the key to marketing with influencers on TikTok is to look for a natural fit between the brand and the influencer. In recent years, many brands have opted for micro-influencers with niche audiences instead of mega-influencers who tend to charge higher prices for collaborations.

Coins and Gifts

TikTok has a feature called Go Live, which allows creators with over 1,000 followers to stream live content. This feature enables influencers to interact directly with their audience and monetize their TikTok presence. During a live broadcast, followers can show their appreciation by giving virtual coins, emojis, and diamonds as gifts. Users can purchase these coins on TikTok, and the cost varies based on the pack size. The coins are then stored in a virtual wallet until they are given to the creators. The prices range from 1 euro to 100 euros. Once influencers have accumulated enough coins, they can exchange them for real money, with a daily maximum limit of $1,000 per day. Moreover, there are also Video Gifts, a similar system that allows users to financially reward any type of video. This provides another option for encouraging community participation. These are six ways to earn money on TikTok, but if you can think of any others, feel free to share them in the comments below. So, why wait? Start monetizing your TikTok account today and tap into the incredible earning potential of this thriving social media platform.

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