7 Powerful Tips For Making Money on TikTok in 2023
TikTok is quickly becoming the go-to platform. With an effective strategy, and armed with the right tools, there’s a LOT of money to be made on TikTok by Spring creators. Before we dive in with proven strategies, let’s check some boxes.
To start making money on TikTok you must:
- be at least 18 years of age
- be based in the US, UK, France, Germany, Spain, or Italy
- have a minimum of 10,000 followers (but only 1,000 for Virtual Gifts)
- have 100,000 video views in the past 30 days
- adhere to the TikTok Community Guidelines and terms of service
What if I don’t have 1,000 followers?
Perhaps we’re getting ahead of ourselves. Before we give you some money-making strategies, here are some basic key elements that will help you gain followers:
Unlike Instagram or Snapchat, TikTok is way more personal. Authenticity wins the game here, which means be yourself. Post a steady stream of content, go live often, and interact with your followers as the REAL YOU.
And making money on TikTok will be easier if you Find Your Niche. Browse through the communities you feel you best fit and engage with their content. That way, TikTok now knows what content interests you, which means once you post, TikTok will show your content to the appropriate audience.
Most importantly, Have Fun. People who only do things for money rarely succeed. Passionate people make others passionate – that’s the definition of a “fan” and when your passions are clear, the fans will come.
Now, on to the tips.
1. Consider Running Ads
You might consider placing ads in your videos if you’re willing to spend a little to expand your content’s reach. You can easily set it up with TikTok Ads Manager. TikTok lets you personalize your ad targeting by location, interest, age, etc. Plus, you can select the best format for your brand. The most popular types of TikTok ads include:
In-feed video: These appear on the “For You” page of the TikTok users you prefer to target.
Brand takeover: This allows your ad to expand to the width of the whole screen for a few seconds before becoming an in-feed video ad.
Don’t oversaturate your audience with ads! Show a good chunk of your content first and consider backloading your ads so you don’t lose viewers right away.
2. Sell Branded Merch with Spring
Whether you’re a singer, dancer, or just showcasing your fashion, you’re really selling yourself. Many successful creators don’t just sell standard products, they design custom products.
Brand your merch. Customizing your designs gives your fans a personal connection to you and your brand. Plus, every follower that wears (or uses) your merch spreads the word about your brand out in the “real world.”
Create a TikTok Business account, if you don’t already have one, and then connect SPRING to your account. With our TikTok integration, you can connect your virtual store and showcase your items directly on the platform. Here’s a quick low-down on our TikTok integration tool.
3. Go Live and Collect Virtual Gifts
If you’re livestreaming, Live Gifting is one of TikTok’s most useful features for creators looking to monetize their content.
TikTok is the only social network that allows followers to send Virtual Gifts in real time, which can be redeemed for payment. This is great for building relationships with fans because they develop a personal stake in your success.
Here are a few tips to help get the most out of going live on TikTok:
- Pick the right time. Go live when most of your followers are online. Check your analytics tab for the best window.
- Stay live longer. Most only watch a portion so staying on longer means more people will catch some of it.
- Post a video during your livestream. Viewers will see your link, which in turn grows your views.
- Use TikTok hashtags. Use relevant hashtags to increase the reach of your videos.
4. Partner with Influencers & Other Brands
One of the most creative ways TikTok lets its creators make money is through its Creator Marketplace. It’s a useful tool for connecting the right brands to the right influencers, allowing partnerships to form while creating valuable sponsored content. You can also connect with other creators whose audience will be a good fit with your brand.
5. Try Affiliate Marketing
Score some sponsorships. Plug products for others. They’ll pay! Approach companies that you are already plugging or would like to. Promote products that you like, trust, and that will appeal to your audience. Share links or codes to track any purchases so that you receive your commission.
6. Offer Fan subscriptions
You might consider using a creator-based subscription platform like Patreon. You can charge whatever you want, even as low as $1 a month. That’s an easier sell to a new fan. And as your fans grow, so do your dollars!
Patreon also allows you to offer exclusive content to your subscribers. Use TikTok to promote the membership, and to keep fans invested, you can hold merch giveaways and provide exclusive content. Add the link to your Patreon page to your bio or in your videos.
7. Join the TikTok Creator Fund
Already have a decent following? You might consider making money through the TikTok Creator Fund. This is basically money the platform has put aside to reward valuable users for their standout content. Any money they give out is based on the size of your audience, engagement with your posts, and other factors.
If you’d like to apply to the TikTok Creator Fund, apply through your account settings under Creator Tools.
There really are a variety of ways to monetize your content on TikTok. Start with a few of the tips above and see what works for you and your brand.