How to Make Money on TikTok [#3 Mistakes Every Creator Should Avoid]


  

Genuine, fun, and groundbreaking - Tiktok brings a splash of freshness to our life. Donald Trump might think to ban this fun Chinese app, but Teens are getting rich while goofing around with their friends.


64% of users say they can be themselves on this fun social media platform. Yeah, making money on this platform was relatively easy. Until......The recent Tiktok algorithm update hits in 2022!!!


But still, it’s possible to turn your account into an income source. But one thing is for sure you should have a clear idea about how you can make money on Tiktok smartly. 


Today, we'll take a closer look at stuff that works on this video-focused social networking platform. Here is a sneak peek of the topics we will touch on......


  • Does TikTok pay money?
  • How to monetize TikTok?
  • How many followers do you need to monetize TikTok?
  • Do you have to be verified to make money on TikTok?


Sounds great? Let’s dive in.......


Can you make money on TikTok?


Definitely Yes!


Earning money with this fun social networking site is easier than on other platforms. All you have to know is the formula to turn your followers into cash. But like other social media, TikTok has some requirements that you may have to ensure to make your account into an income source. 


So.....How much money do people make on TikTok?


Just search for the name of the highest-earning Tiktokers. You'll be amazed to know that it's a teenage celebrity (Cue: She is American & only 17years old). Let us show you the top 3 highest earning TikTokers so that you can believe that this visual platform is a real deal for making money while having fun.


Charli D'Amelio


She is about only 17years old and earned approximately $17.5. Mind-blowing, isn’t it?


The present followers of her TikTok account are 137.6 million. She's also partnered with big brands such as Hollister, Procter, Gamble, and Dunkin donuts. 


Dixie D'Amelio


Another D'Amelio!


Yeah, Dixie started her career and collaborated with her sisters. She's a pop singer, and she gained popularity with her singing. She now has 57.1 million followers. Her income from this platform is 10$ million.


Addison Rae


Addison Rae is the earliest tiktoker who earned popularity among all TikTok stars. She has about 86.8 million followers, and her income is 8.5$ million. She has almost received 5.6 billion TikTok video likes.


Did you notice all of these are women? Wow, females are ruling in this fun platform also!!!


How to make money on TikTok & monetize it?


At this point, you realize…..


TikTok is more than a teenagers lip-syncing or dancing platform. People are making some legit money through this fun app. Your main goal is to turn the account into an income source.


Here are a few methods that have proven to work fine to earn a recent amount of money for living (& maybe a lavish lifestyle!)


Methods 1: TikTok Creator Fund is still the easiest route


Let’s start with the basics.


No wonder, Revenue from the creator fund is the best option to monetize your account.


But how the heck does it work? How to make money on tiktok creator fund?


The creator funds a reward to the video or content creator who makes an effort to give the best expression to the audience.


But here is the problem.......


The creator Fund may depend on how many audiences you have or how frequently the video posts. First off..... Before applying for a creator fund, cross-check the TikTok monetization requirements 2022:

 

  • User age must be above 18 years old.
  • Must have a pro account.
  • Must be based in the U.S, U.K, Germany, France, Italy, and Spain.
  • Must have a large number of followers, at least 10,000
  • There must be 100,000 video viewers in the last 30 days of videos,
  • You must maintain your account as per the TikTok Community Guideline and terms of service.


Eligible for creator fund? Great!!!!! Here is how to join for creator fun......


First...... Make a pro account


First, open the app and click on me to show your profile. You'll see, there are three lines on the top line. Just tap it and click manages the account. After that, there will be an option "Switch to a pro account". Hence, you can make or switch a pro account easily.


Choose the TikTok Creator fund 


There's an option on the headset, "Choose creator tool". Tap this and then click on creator fund to join it. Don't forget to read the requirements with full attention.

 

Finally...... Submit the application 


Next, submit and wait for the approval. Then you're all done. If you're rejected, then wait for 30 days & apply again

. 

Method 2: Sell your own product using the platform


Clever, isn’t it?


And most celebrities choose this idea and get money quickly. Not just that, content creators such as dancers, singers, or comedians are selling their own brand like a hot cake.


And what works better?


Usually, dresses, shoes, bags, t-shirts, bags, or styles-related items are doing pretty well.


Method 3: Don’t underestimate the live gifting feature!


Live Streaming is by far the coolest option to monetize your account. A feature allows the creator to receive followers' attention or feedback with virtual gifts.


Yes, yes........Virtual gifts.


These gifts can be redeemed for payment. How to make money on TikTok live? We tell you, though.......Going live for your audience is more efficient when you're just picking the right target group. Also, keep an eye- on when, where or how to make the live streaming work!


Here is a checklist we made for you to ensure before going live........


Set the right time


The trickiest way is to check the audience insight in your profile settings to know when your audience is online.

 

Long duration live Streaming brings the most result!


Though it sounds boring, long-duration live has a plus point too. It helps to engage more audience with your video so that they can easily catch "what are you actually selling".

 

Don’t forget to check the internet connection


A bad connection will give a sour taste to your audience. And you don’t want it, right? Lighting, the sound is also checked before starting live on your page.


Method 4: Partner with other influencers & brands


Ever heard the name of the creator marketplace?


Well, Creator marketplace mainly helps connect both the right brands and influencers to facilitate the partnership. 


Wanna go for a much bolder approach? Search the open campaign and apply to work with several brands you might be interested in.


Method 5: Share Affiliate links to your profile & build a relationship that two parties benefit from!


Affiliate marketing brings a revolution in marketing.


Why will you miss that chance?


The advantage is to connect with popular affiliate programs like Amazon Associates. When a person clicks on your affiliate links, you can earn per click as commission. Yeah, Amazon is great, but there are also some cool affiliate programs out there. Try Them!!!


Method 6: Get started with in-feed ads


A little bit shocked?


Yeah, most people don’t know that Tiktok launched this awesome strategy to get more reach to your post.


All you have to do is create an in-feed ad with the ad manager.


There are two options for choosing an ad for your video. One option is " For you feed," and the other is autoplay. Autoplay ads are similar to other TikTok video ads.


Now Listen:


Paid ads mainly work effectively as it helps to choose the target audience, and thus, the video gets more reach.

 

Method 7: Try to crowdfund the project & get back creative control


It's probably the less known way to make money on this video-focused social networking service. But content creators love this method.


Here is why:


Crowdfunding can be of many types. Startup funds for a specific project may depend on many factors. Here are some of the platforms that support young thriving content creators.


  1. Kickstarter
  2. Indiegogo
  3. Fundable
  4. Crowdcube
  5. Mighty Cause 


And guess what? The main thing about this fund is there are no fees or approval to create a fund page.


Method 8: Use a tipping platform


Yearn for the fastest way to accept donations without joining any crowdfunding project?


Yeah, the tipping platform gives you that opportunity. What we love about this method is.......It has the personal finance option. Your fan can easily donate any amount at any time they want.


Let’s explore some of the hottest tipping platforms:


  • Tipee: In this platform, creators can create a fund page where fans can easily donate anytime. Well, Tipi doesn't offer subscriptions.
  • Ko-fi: This platform offer tips, membership, and exclusive commission for personal content


Method 9: Utilize Patreon as a recurring income stream


Patreon is just a heaven for artists & creators


Patreon is a creator-based subscription platform. For the content creators who want a sustainable income stream, Patreon is a fail-proof fund trick.


Patreon is the platform that allows the creator and influencer to get Revenue through paid membership. It allows you to offer exclusive content to your most loyal fans.


What makes it really unique is.........


You can lower the individual subscription cost and concentrate on increasing the number of subscriptions. To monetize on TikTok with the Patreon platform, you have to follow some tips, which are given below-


Introduce your Patreon profile


If the fans don't know about your Patreon profile, how will they donate to your page?!

So........The first step you should take is to introduce your Patreon profile to your fans.

Add a link to the Patreon page on your profile. Next, add the link to your video post and share thoughts about your Patreon profile at the end of live streaming videos. 


Open your heart to the audience & Build trust


The most important thing you need to maintain is building trust with your supporter and dedicated fan. Notice how you spent the funds for transparent clarification to your fans.


Reward your dedicated fans


As always, there's a connection to giving and receiving at a time.  So, they'll be more willing to give donations and support when you give them in return. That's why try to get in touch with your dedicated fans.


Give positive feedback to your fans.


Try to thank your fans whenever you post videos or get live Streaming on a page. It'll encourage them to support you more. Try to reply to their comments, messages, or tags. It increases your strong bonding with dedicated friends.


Keep subscription costs low


Don't make the mistake of increasing subscription costs. Just focus on growing more subscribers. 


Rest will follow naturally! There is a no-brainer that it's easier to get 1$ from 50 subscribers than 50$ from one subscriber.

 

How Much Does TikTok Pay Per Sponsorship?


The fact is.......sponsorship depends on the number of audiences and the engagement you can manage with your content.


And you have a large chunk of followers; this method is actually a blessing. 


Think we’re exaggerating?


Some TikTokers earn from $100,0000 to $250,000 as per as $500,000 per post. And that's just for one branded video.

 

So what makes the difference? The earnings may depend on several factors like, 


  • Number of audiences,
  • Engagement Rate,
  • Like, react, or comment on your post.
  • The total of new followers in your account.


Still, Got Some Questions?


1: How Do I Grow My TikTok Account?


Earning money on social media is easy if you have a large audience and active followers. Here are the simple steps that may help you in the longer run.


Step 1: Find a specific niche.

Step 2: Set up your profile

Step 3: Search your audience

Step 4: Create distinct video clips 

Step 5: Post videos consistently 

Step 6: Ask your audience

Step 7: Promote your videos


2: How do I get 1,000 TikTok followers?


It’s easily doable.


But you may have to follow some basic yet clever ways to engage with more audiences. Like:


  1. Make content based on a preferable niche that the audience like most
  2. Create your profile more effectively based on a specific niche.
  3. Upload content regularly.
  4. Go live and appreciate your supporter
  5. Share your videos with your friends and family and tell them about your account.


3: Does joining TikTok creator fund lower views?


No, joining a creator fund doesn't negatively affect your followers or viewers. The views depend on your active audience, account settings, engagement, and activity.


So, if you ever feel that you have lower views, it can be because of these factors, not the creator fund.


The Bottom Line 


With over 800 million active users on TikTok, it’s no surprise that the app is a money-making powerhouse. But just how many views do you need to make money on TikTok


According to Forbes, a video takes about 2 million views to generate $50 in ad revenue. So if you’re looking to make some cash on this fun social media platform, start planning your content strategy and get those views!


Do you have to be verified to make money on TikTok? Nope, it’s not mandatory to get paid on this platform. Before wrapping up the whole thing, we want to warn you something. #3 biggest Tiktok mistakes that affect monetization:


  • Focus too much on the metrics, not content
  • Diversify the content too much (which makes the algorithm confused)
  • Using hashtags in the wrong way