In 2021, TikTok hit the one billion milestone of monthly active users, capitalizing on its early fame as people gravitated toward its light, short-form content. This surge in popularity means TikTok is ripe with revenue opportunities, especially considering around 37% of TikTok users in the US earn $100,000 or more yearly.
From the #TikTokMadeMeBuyIt trend to devoted subcultures like #BookTok, brands are finding creative and authentic ways to position and sell their products or services directly to TikTok audiences. You can too, by making engaging and helpful short videos that speak directly to your audience’s interests.
But where do you begin? In this article, we break down 10 strategies for how to make money on TikTok.
- Run TikTok ads
- Collect tips or donations
- Collaborate with a creator
- Try affiliate marketing
- Grow and sell TikTok accounts
- Publish sponsored posts
- Create a Patreon account
- Sell your products and merchandise
- Set up a TikTok shop
- Join the TikTok Creator Fund
1. Run TikTok ads
About 43% of TikTok users are between 18 and 24 years old. This makes TikTok a strong advertising choice for brands wanting to market their products to Gen Z. TikTok ads come with simple, powerful tools to help you advertise to millions of users. Ad formats vary by region, but all let you personalize your targeting by age, location, interest and other factors. You can select one or a few formats that work best for your brand.
The most popular types of TikTok ads include:
In-feed video: Appear on the For You Page of TikTok users who meet your targeting parameters.
Brand takeover: This lets your ad expand to the width of the whole screen for a few seconds. Then it becomes an in-feed video ad.
Hashtag challenges: Create appealing challenges that encourage user-generated content. These challenges appear in the Discovery section on TikTok. This option is only available to managed brands that work in collaboration with TikTok sales representatives.
There are several more types of TikTok ads you can experiment with, but note that some are only available to certain types of accounts.
2. Collect tips or donations
TikTok has introduced a tipping feature that allows select creators to earn money from tips and donations. Fans can use this feature to show gratitude to the creators they love.
Video gifts let viewers send creators virtual gifts and coins. Some creators can collect gifts during a live stream. Gifts can be redeemed for Diamonds—TikTok’s digital currency.
When you save …….