Since its launch in 2016 and with one billion active users, TikTok has become a go-to for content creators and businesses looking to expand their visibility. Yet one question remains: how to make money on TikTok in 2023?
In this article, we will discover the reasons why you should get started, the main target that is on the platform and the different ways to monetize your TikTok profile and make it a source of potential income.
Why should you start on TikTok?
Whether you are a business or a content creator, one of the most important things is visibility. The more visible you are, the more likely you are to retain your followers and build brand awareness.
TikTok is one of the best ways to do this in 2023, because by leveraging a video-first approach to your social media content, you’re able to tell your story in the most believable way possible, while helping your target market establish a stronger connection with your business.
TikTok also offers a unique user experience on its platform compared to other social media apps. It is possible to create short videos by shooting, adjusting the clips, customizing the sound, applying effects and using filters.
The possibilities for creativity are fully optimized within a single application, and the growth of its interface is far from over.
When you use TikTok for your business, your digital marketing strategy multiplies endlessly.
Which target is on TikTok?
TikTok is no longer limited to Generation Z , it’s a cross-generational app that gives brands the opportunity to target audiences of all ages.
On TikTok, the majority of users (62%) are under 30, and 32% of active users are under 20. Most creators on TikTok are between the ages of 18 and 24.
Other networks such as Facebook and Instagram started with a very young audience and are now used by several generations and serve as a marketing tool for millions of businesses. The same is to be expected with TikTok, as it is already happening and growing every second.
How to make money on TikTok when you are a business?
There’s no one-size-fits-all approach to monetization, but the most profitable businesses typically have multiple, diverse revenue streams. From sponsored content to organic marketing, the possibilities offered by TikTok are numerous.
Let’s go over some of the most common ways to make money on TikTok when you’re a business:
Promote your products or services on TikTok
Having a presence on TikTok as a business is a proven way to promote your products or services and generate profits. It’s not only a way to stand out from the competition, but it’s also an opportunity to build and sustain your brand with a wider audience.
With your TikTok videos, you can demonstrate the benefits of your products and services, show how they work, display user-generated content for more authenticity, or even catch up on the latest trends to boost your chances of being featured. in the “ For You Page ”.
Advertise on TikTok
Several advertising formats are possible on TikTok in order to maximize the engagement rate, some however require a significant investment:
- The hashtag challenge: You can share a video with a sponsored hashtag and invite the community to take the challenge, which will lead to a large amount of UGC (user-generated content) . Your brand’s fans will become its first promoters.
- Brand takeover: The Top View format allows your advertisement to be displayed on the TikTok homepage for an entire day.
- In feed Ads : This format is the most popular, it consists of making your video appear naturally on the feed when users scroll through the posts. It’s a great option for increasing conversions and traffic, and it’s a more cost-effective way to get into the market.
Make an influencer partnership
Working with an influencer provides many benefits as they can promote a product/service to their followers. In particular, he will be responsible for the creative process and will have to develop the concept of the TikTok clip, while drawing inspiration from his universe.
You can also increase your sales by offering an exclusive offer or coupon codes to entice people to buy.
To enter into collaboration with an influencer on TikTok, either directly or by using an influence marketing agency, you must determine the details of the partnership by offering a clear brief containing your expectations and objectives as well as the method of payment.
Also remember to select an influencer with a quality and engaged audience. You can, for this, ask for its KPIs or calculate them directly.
The Creator Marketplace platform on TikTok allows you to follow the results of your collaborations in real time with a tracked link in addition to TikTok statistics.
Set up TikTok shopping via Shopify
TikTok is one of the most popular and fastest growing social media platforms. TikTok with Shopify, it’s about to get even more powerful for businesses.
Thanks to the association of Shopify and TikTok, you can link your TikTok for Business profile to your Shopify virtual store and encourage your followers to acquire your products. The shopping tab allows merchants to create a catalog of their items and include links in their posts that lead to their online store.
Therefore, customers have the option of purchasing the product directly from the merchant’s storefront or from the latter’s e-commerce site. Clicking the link will take buyers to the Shopify store to complete payment.
How to make money on TikTok as a content creator?
To be successful on TikTok, it’s important to post original content regularly and have a strong engaged following, including on other popular channels, including Instagram and YouTube. The more you increase your list of followers on the various social media platforms, the more attractive you will be for brands.
Here is, in a few steps, how to make money on TikTok if you are a content creator:
Sponsor your videos
You can get your videos sponsored by brands or companies looking to reach a large audience, by creating videos to showcase their products or services or by using product placement to highlight them in your videos.
Affiliate marketing is also a popular technique. Influencers can promote a brand through multiple posts they share, or by including affiliate links in their accounts and earn commissions when followers use those links.
If you don’t have a large follower base but your niche is engaged and qualitative, you can start working with smaller brands that have less advertising capital. It’s good to start with a respectable base rate because you don’t want to underestimate your talents. You can also use this base rate as a floor to demand higher compensation in the future.
Get donations from your community
TikTok has created an option for certain content creators to receive donations from their fans. With this feature, followers can show their support for the people they follow.
TikTok Live giveaways are rewards subscribers can give to their favorite creators for hosting a live. TikTok has a feature called Coins that your followers can buy and then gift to you during live streams. Coins start at $1.39 for 100 coins and can be given directly to you or used to purchase gifts on your behalf. This allows your followers to show you their appreciation for your content.
This feature gives creators a way to connect with their audience, while also opening up another path for them to monetize.
Be part of the Creators Fund
TikTok’s Creator Fund initiative aims to reward those who create content by paying them based on various criteria, such as the number of views on a video, the degree of engagement it has garnered, and compliance with social network community rules.
To be eligible, creators must:
- be based in a European country,
- be at least 18 years old,
- have a professional account,
- have 10,000 or more followers,
- achieve a minimum of 100,000 views in the previous 30 days
- publish original content.
Simply put, creators act as independent contractors who get paid by TikTok for views accrued each month.
Technically, there is no earnings cap for creators. Funds are calculated within 30 days of the previous monthly reporting period. From there, TikTok pays creators for views and engagement during that time.
Become a TikTok consultant or community manager
TikTok is a difficult platform for many businesses to navigate. The uniqueness of this channel means that trends change very quickly. This is why TikTok consultants and community managers are highly sought after.
If TikTok has no more secrets for you, you can use your expertise, for a fee, for companies looking to increase their visibility and their engagement rate.
To be successful as a TikTok consultant or community manager, you will need to demonstrate your ability to get thousands, if not millions, of views on videos in order to propel a brand on social media.
Become an influencer on TikTok
One of the most popular ways to make money on TikTok is to become an influencer. If you already have a large number of followers on Facebook, Instagram or YouTube, advertise your TikTok profile on these networks and associate the brands you want to work with.
When you have an account with a strong following, you can take advantage of influencer marketing opportunities from businesses that want to reach your fans. You can promote or do product placement in your TikTok videos, or even become a brand ambassador.
To become an influencer on TikTok, you must choose your niche and understand the interests of your audience to create content that resonates with them. You must analyze your competitors, build your content strategy by staying on top of trends, and finally, you must engage your community with live Q&As, contests or sweepstakes, for example.
All about compensation on TikTok
When it comes to earnings on TikTok, there are a few things to consider. Not only do you need to have a significant number of followers to be able to monetize your profile, but you also need to be aware of the sponsored content regulations on the platform.
Let’s take a look at some of the most common questions about compensation on TikTok.
How many followers to have on TikTok to earn money?
TikTok offers a variety of monetization tools for influencers, such as the Creator Fund, an ad revenue sharing program called TikTok Pulse, and a tipping feature.
To access these features, TikTok requires creators to be at least 18 years old and meet certain criteria, including number of followers :
- To join the Creators Fund: you must have at least 10,000 followers, and have reached at least 100,000 video views in the previous 30-day period.
- For the TikTok Pulse program: you must have at least 100,000 followers and have posted at least 5 videos in the last 30 days.
- To receive “tips”: you must have at least 100,000 followers.
What are the rules for sponsoring a TikTok post?
When it comes to sponsored content on TikTok, there are some principles you should be aware of, the most essential is that sponsored posts should be clearly identified as such, for transparency with users.
This means that you must include the hashtag #ad or #sponsored in your post caption.
It’s also important to note that sponsored posts are subject to the same rules as other content on TikTok. All sponsored content must therefore comply with TikTok’s terms of use.
How much is a view on TikTok worth?
According to AFP, you can get 0.4 euro cents for every 1,000 views and 20 euros for every million views.
The amount of remuneration varies depending on the country in which your video is shared, TikTok will pay more for re-shares in European countries for example.
The algorithm used to calculate the payout is based on a combination of different factors (number of views, sounds, description), resulting in variances in each user’s earnings.
How to gain visibility on TikTok?
Here are some tips to help you gain more exposure on TikTok:
- Stand out: you must differentiate yourself from other creators by adopting a unique strategy around your universe.
- Hashtags: With the right hashtags, it’s easier for people to identify the type of content you produce. These hashtags are also beneficial for SEO, as they help improve the ranking of your videos.
- Captions : Use catchy titles and ask questions to encourage comments, both in titles and in video captions, this is a common tactic on TikTok to engage your audience .
- Trends : Exploit the latest trends on TikTok while remaining yourself and post at the right time . By using trending sound, the algorithm will be more likely to highlight your content, allowing you to increase your visibility with minimal effort.
Our tip to make TikTok your best ally!
The means of monetization offered by TikTok are diverse and varied. However, just creating a good account on TikTok is not enough to make money . You need a solid content strategy to build a loyal community to increase your brand awareness, which will ultimately increase your revenue.
