Discover 10 Effective Strategies to Make Money on TikTok for Business

Social Media Business Filmmaking 04/01/2023 7 min read

TikTok has quickly grown in popularity and functionality. Unlike platforms like YouTube, which has a strict monetization function, there are several ways to make money from TikTok.

Due to the super short-form video format and a continuous scroll of new videos, TikTok is an addictive platform. Brands and businesses find more opportunities to plug into the user community by collaborating with content creators. 

Part 1: 6 Main Steps to Grow a Following in TikTok

Before we get into creative and effective ways to make money on TikTok, it is also important to make note of the main ways you need to grow a good following. You have to constantly nurture and make a deliberate plan to create your brand image as well as commit to using your TikTok account to inspire, educate and benefit your audience. Also make sure to keep your content in TikTok different from your other social accounts and this way grab your followers’ attention in a more candid, transparent, and real manner. 

It is also a great incentive to grow and have a good following, as TikTokers with large followings can make anywhere from $200 up to $5,000 a month! In general, you should be looking at a following of about 10,000 with at least 1000 to activate most features on TikTok.

1. Be Consistent. Upload Regularly.

As with all social media endeavors, consistency is vital to growing your following. You don’t need to post every day, but you should have a regular posting schedule and stick to it. Your audience likes to know when they can expect new content from you, and you’ll need to keep your followers happy.

2. Go Live More Often

Live streams are another popular form of content across all social media platforms, but especially on TikTok. You can’t access this feature unless you have 1000 followers, so don’t fret if you don’t see the option yet! With the Live ring around your profile pic, it will for sure engage your followers to check what you are up to quicker. Don’t forget that you have to add in a title before going live – start with something creative and on point. When specifically on live stream, have your audience get involved by answering questions from comments you received and creating conversations.

3. Create Video Tutorials

Video Tutorials are a fantastic tool for sharing skills but are also incredibly popular with audiences. From make-up tutorials to DIY how-tos, everyone has a skill they can share and an audience that will want to see it. You can easily direct your audience to your YouTube channel for longer content and tutorial playlists with additional but relevant information that one TikTok post can’t cover. 

4. Offer Fan Rewards

Rewarding your fans is a sure-fire way to get them coming back for more. You should make sure your rewards are on-brand for your channel and are something your audience would want. It doesn’t even need to cost anything – some creators offer artwork, shoutouts, or one-on-one chats. 

5. Promote Content

Many people make a mistake thinking that creating and publishing their content is enough – an audience will find them. However, your content and channel need constant promotions across a range of media. Create a marketing plan for your content to have a clear strategy to build your audience. Use your business accounts on Facebook and even Linkedin to share about live streams on TikTok or maybe even your weekly Q&A time available for all your followers to ask any and all candid questions.

6. Make an Influencer Press Kit

A press kit is a fantastic tool for your channel and can help you attract partners, collaborators, and PR for your work. Create a short document that is easy to send in an email explaining who you are, what your channel does, and what you want to achieve. Use your account analytics to give a breakdown of your audience.

You can get some more insight on creating a press kit using this link with great examples.

Part 2: 10 Great Ways to Make Money on TikTok for Creatives

There are many ways to make money on TikTok, but the most successful users choose a combination of revenue streams. Whatsmore, not all of your content should be about making money, as mentioned before, you need to retain authenticity and transparency with your audience.

1. The TikTok Creator Fund

The TikTok Creator Fund is a rewards program for users creating popular and unique content on the platform. To earn through the Creator Fund, you must; be over 18 years old, based in the US, UK, France, Germany, Spain, or Italy, have at least 10,000 followers, and have accumulated at least 100,000 video views in the last 30 days. While that may seem like a massively daunting number, it can be well worth the effort in the long run.

If you fit the criteria to use the TikTok Creator Fund, you can sign up following these steps:

  1. Open your TikTok app.
  2. Click on your Profile icon, followed by the Settings icon in the top left.
  3. Select Creator Tools followed by the Creator Fund tab.
  4. Follow the onscreen prompts to join the program.

2. Partner & Network with Brands

Partnering with brands is a fantastic way of earning money and rewards with your content creation. When considering brands to approach, think about your niche and audience; there is no point in promoting a brand your audience won’t use.

When reaching out to brands to work with, be clear with what you are offering and asking for; the collaboration needs to be mutually beneficial. While you may want to work with the more prominent brands, consider approaching smaller companies that might be of interest to your followers.

3. TikTok’s Creator Marketplace

If you’ve considered working with Brands for Sponsored Content, then you’ll want to look at the TikTok Creator Marketplace. To be eligible, you’ll need at least 100k followers, but the marketplace allows you to find and be found by brands looking for mentions and sponsored content.

4. Sell Merchandise

A lot of creators have their own merchandise line to sell directly to their followers, from t-shirts to mugs; there are many ways to create a product line. Merchandise sales work best when the items relate to the content; a catchphrase you use, your logo, or even your face could be printed and sold to your audience.

5. Add Affiliate Links

Affiliate links are trackable URLs to a product or service for which you earn money for every click/sale through your specific link. There are hundreds of affiliate programs online, offering a range of rewards and payment schemes. If you want to use affiliate links, it is essential to make sure the product/service you’re promoting suits your followers.

6. Promote Music Track

For lots of TikTok content, the music is added after the video is created, so why not earn from that music track. Find bands and artists looking for exposure and offer to use their tracks in the background of your videos; make sure you draw attention to the track in your post, tagging the creators’ accounts.

7. Score Sponsorships

Sponsorships are hard to come by, but that doesn’t mean you shouldn’t try. All sponsorships are the holy grail for content creators and can include unboxings, branded videos, or full promotions. Consider the content you create and the audience you attract, this way you will stand out for brands to reach out to. In turn, you should switch to a Creator account to approach an appropriate brand with your media kit.

8. Become a TikTok Consultant

If you are better at networking and working more B2B rather than growing your own account, you can earn money as a TikTok consultant, helping other businesses build their channels. Scout creator accounts with certain followings to create your own list with average costs that you know would be a good fit for medium to large companies online. Position yourself as an expert consultant for brands looking to work with influencers and advise them on who to work with on potential projects. Manage all the negotiations to keep both sides happy and even score a retainer to keep an eye on things.

9. Marketing by Crowdfunding

There are many other channels and platforms you can earn from, and TikTok is a fantastic marketing tool for them. Use TikTok to promote your Patreon channel or crowdfunding campaigns like GoFundMe or Kickstarter pages, and ask your followers to contribute. This truly offers an easy and no-pressure way for your followers to give back and support your work. You can even go the extra mile and host live fundraising events and give updates on the progress.

10. Grow And Sell TikTok Accounts

Some creators have a talent for growing TikTok accounts, and there is big business in selling them to users. The value of your TikTok account will depend on how many followers you have and how engaged they are.

If you’re looking to grow and sell TikTok accounts, you can expect to make around $100 to $150 per 10,000 followers, so the bigger the account, the more you’ll make. Depending on the industry focus and the value of the followers’ demographics, accounts with 500,000 to above 1 million followers can score up to $30,000! It’s worth noting that you will have to go through a thorough vetting on the account before it is sold, make sure you do not exaggerate and that your followers are all truly genuine.

TikTok is big business for high-profile creators, but there is still plenty of room for new and unique content on the platform. TikTok constantly innovates with new and exciting tools for influencers, creators, and brands alike. If you want to succeed on any social media platform, consistency is vital; why not check out some incredible templates to help you create high-quality content quickly.