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| 4 Proven Strategies to Monetize Your TikTok Account in 2023 |
TikTok is one of the most popular social media platforms in the world, with over 1 billion monthly active users and 2.6 billion downloads as of June 2020. TikTok allows users to create and share short videos with music, filters, stickers, and other effects.
But TikTok is more than just a fun app for entertainment. It’s also a powerful platform for making money online. Whether you want to showcase your talents, promote your products or services, or partner with brands that match your niche, there are many ways to earn money on TikTok.
In this blog post, we’ll show you how to make money on TikTok in 2023 using four proven strategies: becoming a TikTok influencer, growing and selling TikTok accounts, creating in-feed ads with the TikTok ads manager, and joining the TikTok Creator Fund.
By the end of this post, you’ll have a clear idea of how to monetize your TikTok account and start earning passive income from your videos.
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1. Become a TikTok influencer:
One of the most common ways to make money on TikTok is to become an influencer. An influencer is someone who has a large and loyal following on social media and can influence their audience’s opinions, behaviors, and purchasing decisions.
Influencers can earn money by collaborating with brands that match their niche and audience. For example, if you’re a fitness influencer, you can work with brands that sell fitness equipment, supplements, or clothing.
To become a successful influencer on TikTok, you need to do the following:
- Choose a niche or a specific theme for your account and videos. This will help you attract and retain followers who are interested in your content and personality.
For example, you can choose a niche like comedy, beauty, travel, or gaming. - Create high-quality and engaging videos that showcase your skills, talents, or passions. Use catchy captions, hashtags, music, filters, and effects to make your videos stand out.
Try to follow the latest trends and challenges on TikTok to increase your visibility and reach. - Interact with your followers and other TikTokers. Respond to comments, like and share other people’s videos, join duets or collaborations, and participate in live streams.
This will help you build trust and rapport with your audience and grow your network. - Find and work with brands that match your niche and audience. You can use platforms like FameBit or AspireIQ to connect with brands that are looking for influencers to promote their products or services. Alternatively, you can reach out to brands directly via email or DMs.
You can charge brands based on the number of views, likes, comments, shares, or conversions that your sponsored videos generate.
The amount of money you can earn as an influencer depends on several factors such as your niche, your number of followers, your engagement rate, and the type of collaboration.
According to Influencer Marketing Hub, the average TikTok influencer with 100k followers can charge around $500 per post. However, some influencers can charge much more depending on their popularity and reputation.
For example, Charli D’Amelio, the most followed TikToker with over 100 million followers, reportedly earns up to $100k per post.
2. Grow and sell TikTok accounts:
Another way to make money on TikTok is to grow and sell niche-specific accounts that appeal to businesses. Many businesses want to have a presence on TikTok, but don’t have the time or resources to create and grow an account from scratch.
You can offer them a fast track to TikTok growth by selling them an account that already has a large and targeted following.
To grow and sell TikTok accounts, you need to do the following:
- Choose a niche or a specific topic for your account and videos. This will help you attract and retain followers who are interested in that topic.
For example, you can choose a niche like pets, food, travel, or fashion. - Create high-quality and engaging videos that showcase your niche or topic. Use catchy captions, hashtags, music, filters, and effects to make your videos stand out.
Try to follow the latest trends and challenges on TikTok to increase your visibility and reach. - Interact with your followers and other TikTokers in your niche. Respond to comments, like and share other people’s videos, join duets or collaborations, and participate in live streams.
This will help you build trust and rapport with your audience and grow your network. - Find potential buyers for your account. You can use platforms like Fameswap or Social Tradia to list your account for sale. Alternatively, you can reach out to businesses directly via email or DMs.
You can charge buyers based on the number of followers, the engagement rate, and the niche of your account. According to Fameswap, the average TikTok account with 100k followers can sell for around $1k.
However, some accounts can sell for much more depending on their popularity and reputation.
For example, an account with 1 million followers in the travel niche can sell for up to $10k.
3. Create in-feed ads with the TikTok ads manager:
Another way to make money on TikTok is to create in-feed ads with the TikTok ads manager. In-feed ads are video ads that appear on the For You page, just like organic videos.
In-feed ads can help you drive traffic to your website, app, or product page, increase brand awareness, or generate leads.
To create in-feed ads with the TikTok ads manager, you need to do the following:
- Create a TikTok Ads Manager account and complete your account setup. You’ll need to provide some basic information about your business, such as your country/region, time zone, currency, and business name.
- Set up an ad campaign and choose your objective. You can choose from different objectives such as reach, traffic, app install, video view, conversion, or catalog sales.
- Name your campaign and set a campaign budget. You can choose between a daily budget or a lifetime budget for your campaign.
- Create an ad group and select placements. You can choose where you want your ad to appear on TikTok’s family of apps (TikTok, Vigo Video India (formerly Hypstar), BuzzVideo) or on other third-party apps that are part of TikTok’s audience network.
- Decide on automated creative optimization. This feature allows you to upload multiple creative assets (such as images and videos) and let TikTok automatically generate different combinations of them for testing and optimization.
- Set your target audience. You can define your audience by gender, age, location, interests, and other unique variables. You can also use custom audiences or lookalike audiences to target users who are similar to your existing customers.
- Set an ad group budget and schedule. You can choose between a daily budget or a lifetime budget for your ad group. You can also set a start and end date for your ad group.
- Create your ad. You can upload your video or use TikTok’s video creation kit to create one from scratch. Your video should be between 5 to 60 seconds long and have a vertical aspect ratio of 9:16. You can also add a catchy caption (up to 80 characters), a call-to-action button (such as download now, learn more, or shop now), and a landing page URL.
- Launch your campaign and monitor its performance. You can use the TikTok ads manager dashboard to track metrics such as impressions, clicks, conversions, cost per result, and return on ad spend. You can also use third-party tracking partners to measure your ad effectiveness.
The cost of in-feed ads depends on several factors such as your objective, audience, bidding strategy, and competition. According to Sociality.io Blog, the average cost per click (CPC) for in-feed ads is around $0.10 and the average cost per mille (CPM) is around $10.
However, these costs can vary depending on the market and the season. You can set a bid amount for your ad group based on your budget and goals.
TikTok uses an auction system to determine which ads to show to users. The higher your bid and the more relevant your ad, the more likely it is to win the auction and be shown to users.
4. Join the TikTok Creator Fund:
Another way to make money on TikTok is to join the TikTok Creator Fund. The Creator Fund is a program that rewards creators for doing what they do best — making incredible TikTok videos. It’s TikTok’s way of celebrating and supporting creators for their dedication, ingenuity, and spirit.
To join the TikTok Creator Fund, you need to do the following:
- Meet the eligibility requirements. You must be at least 18 years old, be based in one of the eligible countries (US, UK, France, Germany, Spain, or Italy), have a minimum of 10k followers, have accrued at least 100k video views in the last 30 days, and post original videos in line with TikTok’s Community Guidelines and Terms of Service.
- Apply within the TikTok app. You can apply by opening your account settings, clicking “Creator tools”, and then “TikTok Creator Fund”. You’ll need to confirm your age and agree to the terms and conditions.
- Create and post videos as usual. Once you’re accepted into the program, you’ll start earning money based on your video views and engagement. You can check your estimated earnings in your Creator Fund dashboard.
The amount of money you can earn from the Creator Fund varies depending on several factors such as your video views, engagement, and compliance with the Community Guidelines and Terms of Service. TikTok does not disclose the exact formula for calculating the earnings, but some creators have reported earning between $0.02 to $0.04 per 1k views.
However, these earnings are not guaranteed and may fluctuate over time. You can withdraw your earnings ($10 minimum) 30 days after the month ends in which they were accrued and transfer them to your preferred payment method (PayPal or Zelle).
Conclusion
You've just learned four proven strategies to monetize your TikTok account in 2023. Whether you want to become a TikTok influencer, grow and sell TikTok accounts, create in-feed ads with the TikTok ads manager, or join the TikTok Creator Fund, you have plenty of options to make money from this popular social media platform.
But don't just take our word for it. Try these strategies for yourself and see how they work for you. You might be surprised by how much you can earn from your TikTok videos.
And if you need any help with creating engaging and viral content for your TikTok account, we're here for you. We offer professional video editing services that can help you stand out from the crowd and attract more followers and customers.
So, what are you waiting for? Start monetizing your TikTok account today and enjoy the benefits of this booming platform. Contact us now and let's get started!
