How to Make Money on TikTok in 2022/2023
How Can you make money on TikTok 2022/2023?
The short answer is: Yes, you can make money on TikTok this 2022/2023.
But just like painting a picture or determining your ex’s ex’s relationship status, making money on TikTok requires a little creativity. While there are official, app-funded methods of earning cash (see Strategy #4 below), there are plenty of other ways that you can make money on the platform—even if you don’t have a ton of followers.
Similar to social media creators active on other platforms, many TikTok users have already reached financial success through the app. And while TikTok may seem like a new frontier, the strategies you can use to make money will probably look familiar (check out our guides to making money on Instagram and Youtube).
How much do TikTokers make in 2022/2023?
There are many ways to make money on TikTok (see below), and how you go about monetizing your account will determine your earnings.
Brand partnerships on TikTok can make you upwards of $80,000. That’s right — if you’re a big enough creator (with a large and engaged audience and a track record of success on the platform), you can buy an expensive car with your earnings from one video.
As for the TikTok Creator Fund, you can earn between 2 and 4 cents for every 1,000 views. This means you might expect $20 to $40 after reaching a million views.
Who makes the most money on TikTok?
- Dancing queen Addison Rae Esterling reportedly makes $5 million yearly through the app, making her the highest-paid human on TikTok. Following her are Charli and Dixie D’Amelio, who make $4 million and $2.9 million a year, respectively.
- @jiffpom, a tiny Pomeranian, is the highest-earning dog on TikTok, fetching an average of $12,540 per post.
- The highest-paid fitness influencer is Demi Bagby, who made over $3 million from less than 50 ads in 2020.
- And in the world of food, celebrity chef Gordon Ramsay makes the most dough (figuratively) with a reported $3.8 million in sponsored posts last year.
4 Step to make money on TikTok
Step 1:
Partner with a brand you trust
Sponsored content on TikTok is defined as content for which you receive something of value. That’s the goal, right? For example, a brand might pay you to make a TikTok video talking about how great their soy candles smell, or you might receive a free skydiving trip in exchange for posting about it. (Though we’re not recommending taking any free skydiving offers).
And brands are very much interested in entering such paid collaborations. A study on influencer marketing found that in December 2019, 16% of U.S. marketers planned to use TikTok for influencer campaigns—but in March 2021, that number went up to 68%. In other words, influencer marketing is blowing up on the platform.
Make a press kit for your TikTok account
A press kit is like a movie trailer for yourself. It hypes up all of the great things about you (and gives brands good reasons to work with you) and includes contact information, photos, and notable achievements. Make them want to see what happens next, bag of popcorn in hand. Websites like Templatelab offer press kit templates for free.
Create a few non-sponsored posts
Brands will want to see that you have what it takes to drive sales to their business. Making a couple of (non-sponsored) posts chatting up your favorite pair of shoes will make that elusive specialty sock brand more likely to want to partner with you.
Use the Branded Content toggle
People don’t like being deceived—and it turns out, apps don’t like it either. TikTok created the Branded Content toggle to make sure that users were being transparent. If you’re creating content for sponsorships, hit the button (or risk your video being taken down).
Step 2:
Partner with an influencer
This is the reverse of the first strategy. If you are an established business looking to grow your presence (and make money) on TikTok, reach out to an influencer whose content aligns with your brand.
Fashionista Wisdom Kaye recently partnered with perfume company Maison Margiela in this TikTok, and food blogger Tiffy Chen partnered with Robin Hood (the flour, not the fox) in this one:
Step 3:
Use Tiktok to advertise your products
If you’ve already established merchandise, this is the most obvious route for moneymaking: create TikToks that show off your products, including all the details that make them unique. Make sure you include a link to your shop in your bio.
Here’s a great example—fashion brand Klassy Network shows off how to wear a “brami.”
Step 4:
Get TikTok’s Creator Fund payouts
This is the app-sanctioned moneymaking method we were talking about earlier. On July 22, 2020, TikTok announced their new Creator Fund, pledging to give $200M U.S. to “encourage those who dream of using their voices and creativity to spark inspirational careers.”
The internet—and the world—ate it up, and only a week later, they announced that the fund would grow to $1B U.S. by 2023. So how do you get your hands on that sweet creator cash? The app has a few boxes you have to tick before you can apply:
- Be located 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 video views in the last 30 days
- Have an account that abides by TikTok Community Guidelines and terms of service
You can apply for the Creator Fund through the app—as long as you have TikTok Pro (the best things in life are not free).
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