Earning Income on TikTok 2023: A Six-Step Guide
In the world of social media, TikTok has emerged as a powerful platform for creators to monetize their content. Here's a breakdown of six main ways to earn money on TikTok:
- Join the TikTok Creator Fund: To be eligible, you must have 10,000 real TikTok followers, have received 100,000 authentic video views over the past 30 days, be over the age of 18, be a legal resident of the United States, the United Kingdom, Germany, Italy, France, or Spain, follow TikTok’s Community Guidelines, and have an account that’s in good standing. The fund pays between $0.02 to $0.04 per 1,000 views.
- Create Sponsored Content: To disclose a partnership in sponsored content, use a TikTok hashtag like #ad and tag the video as a paid partnership with the TikTok creator tools. Brands offer affiliates a commission between 5%-50% for promoting their product or service.
- Create User-Generated Content (UGC): User-generated content (UGC) is content created by the customers themselves instead of a brand. Creators can sell their service to brands to create on-demand UGC. Searching "UGC" on TikTok can help you find creators who share tips for filming, editing, and selling UGC.
- Do Affiliate Marketing: To become an affiliate, apply to various affiliate programs. Creators drive sales from their affiliate links by posting "Amazon hauls" or "Best Amazon finds" videos. Amazon’s affiliate program is one of the more generous for e-commerce affiliate marketing, offering commissions up to a rate of 10%.
- Sell Your Own Products: Creators can create partnerships with merch brands like Printful or Printify to sell their own products. For example, Elizabeth Minchilli, an Italian food blogger, sells custom itineraries and a Substack newsletter on TikTok.
- Run TikTok Ads: Running TikTok ads can help expand your reach and generate more sales. However, video ads should be engaging and not feel like an ad to be effective.
Moreover, TikTok has over one billion active monthly users, making it a promising platform for influencer marketing. Influencer marketing relies on creators who have engaged audiences. The secret to advertising and generating sales is answering the question "What's in it for me?"
If your expertise is being sold, TikTok can be a great platform for sharing knowledge and resources. Adding a link to your TikTok bio is the best organic way to drive users to a product. Many of these link aggregators have analytics built in, so you can measure success over time.
It's important to note that having a niche-focus will make collaborations with other businesses and people more effective. Building an audience around a niche will make it easier to present the right offer to people as you'll see the same types of requests in the comments.
Lastly, don't underestimate the power of a small audience. One does not need a million followers to start making money on TikTok. For instance, Don Marshall, a TikTok creator, sells Middle Earth-themed merchandise to his followers.
In conclusion, TikTok offers a plethora of opportunities for creators to monetize their content. By understanding these methods and tailoring your content to a niche, you can start earning money on TikTok today.
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