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How to make money on TikTok as an Influencer in 2023

By Academy Xi

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make money on TikTok as an Influencer

Attention all TikTokers – keen to create income as an influencer? If you’re passionate about creating content, then read on to discover the range of ways you can monetize your account and grow a profitable business.

How many TikTok followers or likes do you need to make money?

While there isn’t a predetermined minimum number of followers or likes required to start earning cash on TikTok, you will certainly increase your earning potential by having a sizable and, more importantly, engaged audience.

The key to making money on the platform is to focus your energy on producing high-quality content that genuinely resonates with your followers. You’ll also want to figure out which monetisation methods are sustainable for you longer-term.

How much money do TikTokers make?

A number of factors greatly influence the amount of money you can make on TikTok. These include:

  • How many followers you have and how engaged they are with your content
  • Which monetisation methods you use
  • how relevant your content is to your audience (and the quality of it)
  • The level of demand for the content you create and services you provide

At the top of the scoreboard for 2022 is Charli D’Amelio, who reportedly made an annual earning of a cool $17.5 million USD. With 148 million followers, she has twice been included in the Forbes list of Top 7 highest paid TikTok stars, with her sister Dixie not far behind her. Charli’s content is largely dance videos. Time to polish up your choreography skills.

How to make money on TikTok

Anyone making their living from TikTok has dedicated a great deal of time, creativity and effort to build their audience, keep them engaged and generate ongoing quality content. It’s important that you are mindful of these realities when you set out with the goal of wanting to generate income from any social media platform. 

If you stay focused, plan your content and ensure what you create is high-quality and relevant to your target audience, you will be setting yourself up with the best possible chance of making it happen. 

With this in mind, here are some specific approaches TikTokers take to generate income.

  • Paid partnerships and sponsorship deals

Sponsored content and paid partnerships is one of the most common ways TikTokers earn coin on the platform. This approach involves creating and posting content that promotes a specific brand or product. In exchange for creating this content, the TikToker receives payment, or sometimes products or services from the company. If you do work with brands and you are being sponsored to create content, it’s very important to disclose this to your followers to ensure you remain transparent.

  • Affiliate marketing

Another popular method of earning from TikTok is the promotion of products via an affiliate program, where you include a tracking link that monitors follower click throughs in your TikTok bio, or in your video description. When one of your followers clicks the link and makes a purchase, a commission is sent to you.

  • Branded merchandise

Think t-shirts, caps and any other item you can print a catch-phrase, brand name or logo onto. Some TikTokers create their own merchandise and sell it to followers via their account. It’s a way to grow your personal brand and increase connection with your followers.

  • Virtual events

By running virtual events, including workshops or webinars, you can increase engagement with your followers by offering them a different experience. Some influencers will charge a fee for attendance, or offer something to purchase at the end of the experience, perhaps with a discount for the offering to those who attended, with the price increasing the next day (to encourage purchases are made then and there).

  • Donations

Influencers have been known to ask for donations from their followers, with payments made through platforms such as PayPal. If you are offering ongoing high quality content to your followers, this approach could work.

  • TikTok consultant

Like consultants for any other social media platform, a TikTok consultant helps individuals, brands and companies devise and deliver marketing strategies via the platform. A consultant might work with their client to create content calendars, identify influencers to partner with or analyse and measure how effective their campaigns are. 

General coaching around use of the platform is another possible service a consultant might offer clients who are new to TikTok, or social media altogether, along with approaches to growing their online presence. Ultimately, the consultant role is to help clients use TikTok to reach their marketing and branding goals.

Get paid by TikTok

There are a few ways that influencers can get a payout from the platform directly:

  1.  TikTok Creator Fund: To be eligible for the Creator Fund, users must have a strong track record with their TikTok account (quality content posted regularly and nothing breaching guidelines) and meet certain criteria, such as having a large and engaged audience. If you’re eligible, TikTok will contact you directly with further details.
  2. TikTok Partners Program: Eligible creators can monetize their content through ads. To be eligible, users must have a TikTok account where they’ve posted regular quality content that hasn’t breached any guidelines, meet certain performance criteria, and be based in an eligible country.
  3. TikTok Live Gifts: TikTok users who are participating in a live stream can also earn money through TikTok Live Gifts. When viewers send gifts during a live stream, the creator can earn a percentage of the value of the gift.

Study social media marketing to improve your strategies

To leverage your social media influence, consider pairing your TikTok account with one or more other social media platforms. This means you can adapt and share content across them all to extend your audience reach.

Investing in one of Academy Xi’s practical Social Media Marketing courses, created by industry experts, will teach you how to create tactical content that resonates with your audiences. You’ll also learn how to execute a social media strategy, with guidelines on how to generate original content that attracts new followers. 

Get in touch with a course advisor today to discuss your skills and training options so you can begin your TikTok influencer journey.