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How to make money on TikTok and supplement your income
While you can make money on TikTok, only a small percentage of creators earn enough to do so full-time, usually after investing significant time and finances into equipment and production teams. For most creators, TikTok is one of many social media platforms to showcase their work and supplement their incomes. One billion active users is a big market, so here are three ways to tap into it and make money on TikTok.
Read more: How to get more views on TikTok
THE SHORT ANSWER
To make money on TikTok, apply to the creator fund, partner with a brand you trust, and advertise your own products or merchandise on the app.
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TikTok creator fund
In 202o, TikTok announced its new Creator Fund, offering $200 million to “encourage those who dream of using their voices and creativity to spark inspirational careers.” Because the fund received such an enthusiastic response, TikTok has increased the fund to over $1 billion in the US over the next three years and more than double that globally.
If you’re an up-and-coming creator, it can’t hurt to apply to take advantage of TikTok’s funding program to make some extra money.
TikTok creator fund requirements
To be eligible to receive funding through the TikTok creator fund, you must:
- Be based in the US, UK, France, Germany, Spain, or Italy.
- Be at least 18 years of age
- Have at least 10,000 followers
- Have at least 100,000 authentic video views in the last 30 days
- Use an account that abides by TikTok Community Guidelines and terms of service
If you meet the above requirements, you can apply within the TikTok app by opening your account settings. Tap Creator tools, and then select TikTok Creator Fund.
How much does TikTok creator fund pay?
If approved, you can earn between two and four cents for every 1,000 views. In other words, you can expect $20 to $40 after reaching a million views. Aside from just views, higher funds are also calculated based on video engagement. It might not seem like much, but it can be enough to cover the odd bill.
Partner with a brand
A more lucrative strategy to make money on TikTok is partnering with a brand. If you’re a big enough creator, have many engaged followers, and have a track record of exposure, you can make upwards of $80,000.
So how does it work? If eligible, a brand will sponsor your content to mention its services or products. New and well-known brands are always looking for potential partnerships. According to eMarketer, in 2021, 68% of U.S. marketers planned to use TikTok for influencer campaigns.
TikTok makes it easy for creators to connect with brands through the Creator Marketplace. You can find it in the Creator Tools on your profile settings to see if you’re eligible.
Remember, don’t compromise your authenticity on TikTok for money: only partner with brands whose views align with your own. Companies want to partner with people who have an audience that knows and trusts them. People are pretty good at detecting insincerity, so keep it real.
Advertise your products
If you already sell your own merchandise on sites like Etsy or eBay, it’s a no-brainer to show them off on TikTok. Short videos can be great exposure to display all the details or demonstrate any features that make your products unique. Whatever service you provide, you can leverage TikTok to drive traffic to your other channels. Just make sure you include a link in your bio so viewers can easily find your shop.
Read more: The best money-making apps for Android
TikTok creators can make between two and four cents for every 1,000 views through the Creator Fund. But with a brand partnership, creators can earn upwards of $80,000 per year.