How to Monetize TikTok in 2023: 10 Strategies for Creators

Tiktok is one of the largest social media platforms, with over 3 billion downloads and 50 million daily active users, TikTok is thriving. Whether you're an aspiring musician, artist, comedian, or influencer, TikTok presents a massive opportunity to earn real money for those with an entrepreneurial spirit and video editing skills. If you're wondering how to monetize TikTok in 2023, we have compiled a list of strategies for influencers to earn money from their content.

10 Strategies for Creators to Make Money on TikTok

1. Sell Merch

Merchandise sales are a popular avenue for creators on TikTok to earn income. You can add a link to your merchandise store in your TikTok bio for your followers to browse through, or with Fourthwall you can connect your Fourthwall shop to your TikTok Shop. Something worth noting is that when selling merchandise on TikTok and other social media platforms, you'll need to balance authenticity and sales. You don't want to come across as a salesperson, but you do want to maximize revenue. Check out how Snazzy Seagull started using Fourthwall to boost her merch sales in our recent blog. 

2. Join TikTok Creator Next

Creator Next is a program that TikTok launched to help creators grow their audience and brand. TikTok works with select creators from the program to provide them exclusive opportunities to monetize their content, participate in brand campaigns, and earn money while creating sponsored content. If you're eligible, you can apply and wait for your application to be reviewed and accepted.

3. Partner with Brands

Brands are always looking for content creators to endorse their products. TikTok is a platform that is perfect for creating ads that resonate with the audience, and a large number of brands have harnessed this and collaborated with TikTok creators. If you're interested in partnering with brands, ensure that you have a wholesome follower base who fit into your particular niche.

4. Join Affiliate Programs

Affiliate programs are an excellent way to earn income on social media platforms like TikTok. You become an affiliate partner of a company selling a product or service, and you then use your marketing skills to make money. You earn a commission rate for every sale made through your unique referral link. You'll need to ensure that you promote products that are relevant and align with your brand.

5. Accept Tips or Donations

Some followers are willing to support their favorite creators by sending tips or making donations. Although TikTok doesn't have a feature to send or receive money directly, TikTokers can share their PayPal or Cash App handle with their viewers. Ensure that you provide value to your followers before asking for tips.

6. Crowdfunding

Crowdfunding is a way to raise money to fund a particular project you are working on. You create a short video explaining your project on platforms like Kickstarter or GoFundMe and encourage your followers to donate. Use your storytelling skills to make a compelling case and offer rewards to those who donate.

7. Offer Services

TikTokers can offer their video editing or video creation services for other creators or businesses. You can create videos within your niche and sell them or offer a specific set of editing skills. For instance, creators who specialize in creating tutorials, vlogs or have mastered transitions could sell their services to other content creators or businesses.

8. Live Streaming

Live streaming on TikTok is a new way to earn money. TikTok creators can earn money through live streaming by accepting donations from viewers. Ensure that you provide exclusive perks and shout-outs to your followers who donate.

9. Collaborations

Collaborating with other creators can help broaden your audience and create more opportunities to make money. Collaborations work best when the creators are in a similar niche. You can partner up for content creation or create something for a recurring series. Consider investing in each other's merch.

10. Sell Digital Products

Creators can use TikTok to promote and sell digital products, such as e-books or digital art. For instance, if you're a makeup artist, you can create an e-book that provides your followers with makeup tips, tricks, and tutorials.

Tips & Tricks for Getting Paid on TikTok

1. Look for Inspiration in Other Creators: Observe what other brands within your niche are doing and what's working for them. Think about how you can be distinctive and stand out from the rest.
2. Be Real and Authentic: Viewers value authenticity and transparency. Don't be afraid to be yourself and let your personality shine through. It's essential to create videos that are genuine and consistent with your followers.
3. Don't Forget About Organic Content: Collaborations and sponsored content are beneficial, but it's also crucial to create organic content to foster and maintain your audience base.
4. Consistency is Key: Consistently posting content keeps your audience engaged and coming back for more. Make a schedule and stick with it.
5. Engage with Your Audience: Respond to comments, ask for feedback, and involve your viewers in your content creation process. Creating a specialized community on platforms like Facebook or Discord to answer questions or discuss your content is an excellent way to increase engagement. 

What about the TikTok Creator Fund?

The TikTok Creator Fund was an app-funded program where TikTok pays creators to produce content on their platform. It was shut down in November of 2023 and replaced by the Creativity Program. TikTok's algorithm prioritizes influencers who create original, educational, or entertaining content with a lot of views and engagement. To join the Creativity Program, creators need to have at least 100,000 followers, be 18 years or older, meet the required views and engagement metrics, and have a genuine follower base. While this program is a great way to monetize your content, the other methods that we mentioned are as effective and achievable.

Start Monetizing Your Content!

TikTok is an incredible platform for content creators looking to monetize their content. By following these tips and implementing these strategies, you can start earning real money from your TikTok content. Remember, the key to success on TikTok is creativity, consistency, and authenticity.

If you want to take your monetization to the next level, Fourthwall is here to help. You can use Fourthwall's creator ecommerce platform to launch your site, source products, and start selling personalized merch. Fourthwall allows creators to display their recent TikTok videos directly on their site’s homepage, and show their appreciation by sending supporters a quick video with every purchase made.