Nowadays, it seems like everyone is looking for a side hustle or an easy way to make passive income. And honestly, making money by putting in some work up front but then letting that money roll in afterward monthly? That is the life. A large market that a lot of people are trying to break into is the TikTok market. Brands and businesses are looking at ways to make money on the platform, as well as content creators.
It’s no wonder why—TikTok hit a billion active users in 2022 and that’s a lot of people you could be selling to. But … how do you do it? By reading this blog post, of course. Here are our strategies on how to make money on TikTok as a brand and content creator (with tips and tricks included!).
Can you make money on TikTok?
Yes! You can make money on any social media platform. There are quite a few different ways to make money on the app, but if you’re looking to make cash directly from TikTok itself, you can always apply for the TikTok Creator Fund (we talk more about this below!).
Here’s the thing though: If you’re expecting to make $100,000+ on TikTok, you might want to manage your expectations a bit. Creating content is hard work but there are some different ways to make it work for you—while also bringing in some cash. And that’s exactly what this blog is here to help you with.
How to make money as a brand on TikTok
If you’re a brand looking to make money on the clock app, here are a few things you can do to get started (some of these can also be applied to content creators!).
Run TikTok Ads
This is the easiest way to get your brand or business out in front of as many people as possible. And if your audience is on the younger side, TikTok is the way to go when it comes to using your advertising dollars.
With TikTok ads, you can specifically target your audience by age, location, interest, and other factors to be really specific on who you want to reach.
Different types of TikTok ads:
Before you get started on creating ads, here are some of the most popular types of ads to help get you started:
In-feed video: This type of ad appears on the main feed for your audience as they are scrolling their FYP.
Brand takeover: This is an ad that expands the entire width of the frame before turning into an in0feed video ad. This is expensive but highly effective!
TikTok has been trying to push TikTok Shopping for a while now—and honestly? For good reason. As a small business, you can sell your products directly on the platform—that way people don’t have to leave TikTok and it makes it very simple for them to quickly purchase an item from you.
Once you set up your shop, you will get a Shopping tab added to your profile. You can tag items in your videos for people to quickly purchase and start promoting them in all of your future content.
Work with a creator
Collaborations with creators that you love and fit into your niche are a great way for you to grow your brand and make money on TikTok.
Go into TikTok’s Creator Marketplace to connect with creators on the platform. You’ll be able to easily find creators based on budget, industry, business goals, and more before reaching out to them to see if they’d be interested in partnering with you.
You can also start sliding into the DMs of creators that you love and feel like you’d have a natural collaboration with.
More and more people rely on creators telling them their thoughts and feelings about a certain brand before they make a purchase, so working with someone who is trusted and has a good rapport with their audience is absolutely essential.
Do affiliate marketing
Want creators to talk about you and your product? Incorporate affiliate marketing into your program. Affiliate marketing is a way for creators can make money by promoting your product and for every sale of a product, they get a commission.
It’s a great way for a creator to make passive income and a great way for you to get your brand or business out there in the world.
If you’re a content creator looking to break into affiliate marketing, you need to make sure the content you’re creating engaging and actually makes people want to buy the product—because if you’re not really selling it to your audience, you’re really not going to make any money.
Did you know that as a brand, you can sponsor a post that lives directly on a creator’s page that you are working with? Yup, and it’s a great way for even more people to see your content and also … buy your items (duh!).
Very similar to creator collabs, this lets brands pay content creators to promote their products in organic posts. And the best part? If it starts trending, you can boost it some more.
How to make money as a creator on TikTok
If you’re a creator and struggling to figure out different ways to make money on the platform, we’ve got you. Here are our top tips on how to make money as a creator on TikTok!
Collect tips or donations
One of TikTok’s newest features is allowing people to tip creators to earn money. Once you build up your audience, your fans can start showing their love for you by sending you virtual gifts or coins that can be exchanged for real money.
Become a brand ambassador
If there is a brand that you love, building a relationship and an ambassadorship with them is the way to go. When you become a brand ambassador, you usually have a retainer with the brand where you make a certain amount of content for them each month in exchange for free items or money.
So start looking for brands, network, grow your audience, and get that brand ambassadorship that you want.
TikTok’s Creator Fund
As we mentioned above, TikTok’s Creator Fund is a great way for creators to make some additional money each month. The more engaging your content is, the more money you will get from TikTok.
If you want to be part of TikTok’s Creator Fund, you need to be 18 years of age or older, have more than 10K followers, and have at least 100K views over the last 30 days. You can apply for the Creator Fund here.