By Kristine Korkotashvili · 5 min read

Last Updated on December 20, 2022

TikTok is the latest app making waves among all generations of people. TikTok has a strong social network that is growing every day, and you can make money from it. You just have to know how to do it.

In this article, we explore how you can make money on TikTok and some other important details to help with your monetisation process on TikTok.

The Pros of Making Money on TikTok

The biggest pro of making money on TikTok is that it’s a social network, so it’s not necessary to build a massive following in order to make money. This is great if you are just starting out on TikTok and have just a few followers. Another pro of making money on TikTok is that it can be done anywhere and at any time. You can post videos from your phone when you’re travelling or on a break from work. You can also schedule your posts so that you can post as often as you want. Another pro of making money on TikTok is that it’s a great way to diversify your income streams. Having multiple income sources is always a good thing. It will also allow you to create a more consistent income flow.

The Cons of Making Money on TikTok

The most common misconception about TikTok is that it’s a “get rich quick” scheme. Sorry to break it to you, but there are no shortcuts to success. The biggest con of making money on TikTok is that it will take time to build a solid following. This is especially true if you’re just starting out. It will take a lot of time and effort to build a steady following. Another con of making money on TikTok is that you’ll have to find a way to stand out. With so many content creators on TikTok, it can be challenging to get your content discovered.

Tips for making real money on TikTok

-Build a solid brand. This is the first step to making money on TikTok. It’ll take time, but it’s worth it. You need to build a strong brand that represents your unique personality. Your brand should also represent your products or services.

- Create engaging content. Your content needs to be engaging and fun enough to keep your followers coming back for more. You also need to make sure that it’s not too repetitive. You don’t want to bore your followers.Don’t just post content related to your brand or products. Make sure that you also post content that is relevant to your followers. This will also allow you to connect with them better.

-Go live and collect virtual gifts. One of TikTok's most useful services for creators trying to monetise their content through live streaming is live gifting. Most social networks offer a live streaming capability, but TikTok is unique in that it allows followers to express their gratitude in real time by giving virtual gifts that may be redeemed for payment. Engaging with users in real time is ideal for developing meaningful relationships with your followers. Audiences with a deep connection to a creator create a personal stake in their success. Therefore, going live can assist in enhancing other monetisation sources as well.

- Earning money through Crowdfund. Crowdfunding is one of the most accessible ways for creators to make money. You put in a lot of time and effort to create content for your followers, so providing an easy, no-pressure way for them to give back is ideal for maintaining a consistent source of cash.
Depending on the type of funding you want, crowdfunding can take several forms. If you need startup cash for a certain project, you can rally your supporters by establishing a funding target and holding live fundraising events.

-Last but not least, you can earn money through the Creator Marketplace. The Creator Marketplace connects the appropriate companies with the right influencers, creating collaborations that are quick and simple for both parties. TikTok makes it extremely simple to generate lucrative sponsored content.
Brands interested in running an influencer campaign can explore the marketplace and swiftly flip through material created by creators they know are open to collaborating with brands.
The creator marketplace functions as an influencer agency, allowing both parties to signal their readiness to collaborate, alleviating some of the awkwardness that marketers may face when approaching influencers on other platforms.

TikTok Creator Fund

Tiktok pays through The Creator Fund. The Creator Fund is not a grant program or an advertising revenue sharing program. Creators receive income based on a variety of elements from their videos, and because TikTok performance is dynamic, it changes naturally.

The funds that each creator can earn are worked out by a combination of factors, including the number of views and the authenticity of those views; the level of engagement on the content, as well as making sure the content is in line with TikTok's Community Guidelines and Terms of Service.

In addition, creators who meet the following criteria, according to TikTok, are eligible to apply to the Creator Fund:

• Are based in the United States, the United Kingdom, France, Germany, Spain, or Italy.
• You must be at least 18 years old.
• Have a minimum of 10,000 followers.
• Have received at least 100,000 video views in the previous 30 days
• Have an account that adheres to the TikTok Community Guidelines and Terms of Service.
  
• Creators who match the eligibility standards can apply through their pro/creator account in the TikTok app.

Conclusion

At the end of the day, the key to making money on TikTok is consistency. You need to post quality content consistently, and you also need to engage with your followers consistently. It’s not a get rich quick scheme, and it won’t happen overnight. It will take time and effort, but it’s definitely possible.