One thing is for sure: You don’t need to be a TikTok celebrity to make money on the platform. In fact, there are several ways to earn an income on TikTok, even if you don’t have a huge following. There are effective methods for making money on TikTok, regardless of your level of TikTok fame!
So, whether you’re a casual user or a budding influencer, read on to discover how you can start earning money on TikTok today. In this article, we are going to answer important questions that can help you in making money through the platform.
How Many Followers Do I Need to Make Money on TikTok?
The amount of money you can make on TikTok can vary widely depending on several factors, including your level of TikTok fame, the type of content you create, and the methods you use to monetize your account.
For instance, if you are a TikTok influencer with a massive following, you may be able to earn thousands of dollars per sponsored post or brand partnership. On the other hand, if you are a smaller creator or just starting out on the app, you may need to rely on other methods of monetization, such as affiliate marketing or selling merchandise.
According to data gathered by Influencer Marketing Hub, nano influencers with 1000 to 10,000 followers can make $5 to $25 per post. Micro-influencers with 10,000 to 50,000 followers can make $25 to $125. Mid-tier influencers with 50,000 to 500,000 followers can make about $125 to $1,250 per post. Macro-influencers with 500,000 to 1 million followers can make $1,250 to $2,500. And the mega influencers with over 1 million followers can make over $2,500 per post.
Overall, the amount of money you can make on TikTok ultimately depends on your individual circumstances and the strategies you use to monetize your account. While some creators have been able to earn a full-time income from the platform, it’s important to remember that TikTok is just one potential revenue stream.
How Much Do Influencers and Brands Make?
There are no fast and hard rules on how much influencers and brands make. Similar to any other profession, salary varies depending on different circumstances and factors.
For instance, you are a small business and you make one video a day on TikTok, which brings you two sales— each costing $50. That makes you $100. If you look at this from a year perspective, then you are making $36,000 a year. Just imagine if you can make more sales a day!
It’s worth noting that the rates for sponsored content and brand partnerships on TikTok are still relatively new and can vary depending on the specific industry and location. As TikTok continues to grow in popularity, it’s likely that the rates for influencer partnerships and brand deals will become more standardized and predictable.
How Much Money Can You Actually Make on TikTok?
If you’re using the creator’s fund, the exact amount that creators can earn per view varies and depends on several factors, including the country they are in and the overall budget allocated to the Creator Fund.
As of early 2023, TikTok has not disclosed the exact payment rates for the Creator Fund. However, in the past, TikTok has stated that payments to creators will be based on a “formula” that takes into account a variety of factors, including the number of views on a video and the creator’s overall engagement rate.
While it’s difficult to estimate the exact amount of money creators can earn through the Creator Fund, some reports suggest that creators may earn anywhere from 2 to 4 cents per 1,000 views. This means that a video that receives 1 million views could potentially earn a creator between $20 and $40.
TikTok’s Creator Fund is a program that pays eligible creators for the content they create on the platform. It is not a grant, not money made from ad revenue, but from how well your videos are performing.
The program is currently only available in select countries, including the United States, Canada, the United Kingdom, Germany, Spain, Italy, France, and Japan.
Creators who meet the eligibility criteria for the Creator Fund can earn money based on the views their content receives. To be part of the TikTok Creator Fund, you need to meet the following eligibility criteria:
- Be at least 18 years old
- Have at least 100,000 followers on your TikTok account
- Have at least 100,000 video views in the last 30 days
- Post original content that follows TikTok’s Community Guidelines
If you meet these eligibility criteria, you can follow these steps to apply for the TikTok Creator Fund:
- Make sure you have a Pro account on TikTok.
- Go to your profile page and click on the three dots in the top right corner.
- Click on “Creator Fund” and then click “Apply.”
- Follow the steps to submit your application. You’ll need to provide some personal information, including your PayPal account information so that TikTok can pay you if you are accepted.
Once you’ve submitted your application, TikTok will review it and let you know if you’ve been accepted into the Creator Fund. If you’re accepted, you’ll start receiving payments based on the performance of your videos.
Keep in mind that not all applicants are accepted into the Creator Fund, so it’s important to continue creating high-quality content and growing your following on TikTok.
What Are Some Ways to Start Making Money?
There are several ways to make money on TikTok, including:
- TikTok Creator Fund. As mentioned earlier, TikTok has a Creator Fund that pays eligible creators for their content based on views and engagement.
- Selling merchandise. If you have a loyal fanbase, you can sell merchandise related to your brand or niche. This could include clothing, stickers, or other items that your followers would be interested in purchasing.
- Brand deals and sponsorships. As a TikTok creator, you can collaborate with brands and promote their products or services in your videos. Brands will pay you to create content that features their products or to post sponsored videos on your profile.
- Live-streaming. TikTok allows creators to host live streams and receive virtual gifts from their viewers. You can redeem these gifts for real money through the TikTok app.
- Feed Ads. Once you’ve been approved as a TikTok Ads Creator, you can create feed ads for brands. You can do this through the TikTok Ads Manager, which is a self-service platform that lets you create, manage, and optimize ads. When you create feed ads for brands, you will earn a share of the revenue generated by the ads.
- Affiliate marketing. You can use affiliate marketing to promote products in your TikTok videos and earn a commission for any sales made through your unique affiliate link.
- Consulting services. If you have expertise in a particular area, you can offer consulting services to other creators or businesses. For example, you could offer social media marketing consulting services to businesses that want to grow their TikTok presence.
How to Work with Brands on TikTok?
Working with brands on TikTok can be a great way to monetize your content and earn money. To attract brands to work with you, you need to build a strong brand and a large and engaged following. Focus on creating high-quality content that resonates with your audience and grows your following.
Once you have a sizeable following, you can reach out to brands directly or through influencer marketing agencies. Look for brands that align with your niche and audience and pitch them your ideas for collaboration.
As soon as a brand expresses interest in working with you, you’ll need to negotiate a deal. This could involve creating sponsored content for the brand or promoting their products or services in your videos. Discuss the scope of the project, the timeline, and your compensation.
After agreeing on the terms of the collaboration, it’s time to create sponsored content that aligns with the brand’s goals and your niche. Make sure the content is high-quality, engaging, and authentic to your audience. Once you’ve created the sponsored content, it’s time to post it on your TikTok account. Promote the content on your other social media channels to maximize its reach.
When the sponsored content has been posted, evaluate its success based on engagement and ROI. Use this information to improve future collaborations and build better relationships with brands.
