How to make money on TikTok: TikTok has become one of the most popular platforms for sharing short videos around the world. But beyond being just an entertainment platform, it also offers the opportunity to make money.
In this article, we will explore the various ways to monetize TikTok and how you can make the most of this platform to generate income.
If you are looking to know how to monetize on TikTok or how to make money with TikTok, you have come to the right place!
How to make money on TikTok in 2023? How does TikTok pay?
Every time a new trend emerges on the internet such as TikTok, it is common for the typical question to appear: “ Is it possible to make money with TikTok?” ”, the answer to this question is yes, it certainly can.
Although TikTok is not specifically based on monetization, the application is very commercial and therefore there are ways to monetize TikTok.
What are the requirements to monetize TikTok?
- You must live in a region where gifts must be available. Peru is an available country.
- You must be at least 18 years old
- You must have at least 10,000 followers
- You must have posted a video in the last 30 days
- Your account must have no penalties and must comply with TikTok’s community policies.
- You must have a personal account, business accounts are not valid.
Once it is clear what are the necessary requirements that you must meet to start making money on TikTok, we will explain the ways in which you can do it
Here are some ways to make money on TikTok:
How to monetize on TikTok?: 6 proven ideas
1) TikTok Creator Fund
In July 2020, TikTok announced its “Creator Found”, an exclusive platform for content creators to have more visibility and more tools to develop better content; However, not all users can access this fund.
The requirements to be part of this group are the following:
- Be at least 18 years old
- Have at least 10,000 followers
- Have at least 100,000 video views in the last 30 days
- Have a TikTok account that complies with the platform’s rules
- Residing in the US, UK, France, Germany, Spain or Italy.
The Creators Fund is an excellent initiative for creators who meet the aforementioned requirements; however, it can be very exclusive for new creators who are just starting out.
If that is your case, don’t worry! There are other ways in which you can monetize your TikTok. Keep reading!
2) Go live and receive virtual gifts
One of the ways to monetize TikTok is through live broadcasts, also known as Lives, which can be used by content creators with more than 1,000 followers. This not only allows influencers to have more direct contact with their followers, but also monetize on TikTok.
During live broadcasts, followers of content creators have the possibility of giving away virtual coins as a form of gratitude for the content they make. In addition to giving coins, they can also buy emojis with different designs and diamonds to give as gifts.
How to acquire virtual coins on TikTok?
You can acquire virtual currencies through TikTok. To do this you must follow the following steps:
1) Enter a Live on TikTok. Scroll to the bottom of the live screen. You will be able to see the image of a gift with the name “gift”. 
2) Below you can see the available gifts that you can give.
3) To acquire some of the gifts you will need to have digital coins, to do this you must buy coins by tapping the Recharge button.
Currently, this feature is operational for Peru and the price of the coins currently in 2023 is as follows:
- 70 coins: 3.75 soles
- 350 coins: 18.55 soles
- 1400 coins: 74.19 soles
- 3500 coins: 185.45 soles
- 7000 coins: 370.85 soles
4) Finally add a valid credit or debit card and that’s it, you can purchase coins on TikTok.
Once you have acquired the coins, you can exchange them for virtual gifts and give them to your favorite content creators.
After content creators have received a significant amount of gifts, they can exchange them for real money.
3) Participate in referral programs
Another way you can monetize TikTok is through a referral program. You just have to share the subscription link with your family, friends and acquaintances and make sure they download and use TikTok.
Currently, TikTok offers 40 soles for each referral achieved and provides a maximum payment of 400 soles.
4) TikTok creator Market place
TikTok creator Market place is the official platform for brands and content creators to collaborate, that is, it is a platform where brands and TikTokers can connect with each other to work together.
This way, content creators can more easily monetize their TikTok profiles and advertisers can find the ideal influencer to promote their brand.
At the moment the TikTok creator Market place option is not available to all advertisers, but you must first receive an invitation from TikTok mentioning that the option has been enabled.
5) Become a recurring content creator
Really, the best way to monetize a TikTok profile is by becoming a successful content creator, since that way you will be able to gain the attention of many brands that will want to work with you jointly and will be willing to pay you for it. Likewise, if your followers like your content, they may give you many virtual coins.
The only thing you have to do to become a content creator is download the TikTok application, open an account and start making videos on the topic you like the most.
Who knows, maybe you can become the next Tiktoker of the moment.
6) Sell merchandising to your followers
Selling your own products on TikTok is a great idea to monetize your content. Any creator, whether dancer, singer, artist, can create and sell merchandising to their most loyal fans.
You can sell t-shirts, mugs, t-shirts, backpacks, bags, cell phone cases, stationery, among other products and services.
Now that you know that it is possible to make money with TikTok, the next question you may ask yourself is most likely “How much money can you make?” To answer this question, it is necessary to evaluate several factors, since not all content creators can earn the same.
How much money can you earn on TikTok?
The more followers you have, the bigger brands are likely to want to work with you. For example, the biggest TikTok influencers in 2020, Charli D’Amelio (101.5 million followers), Michael Le (42.4 million followers), and Josh Richards (23.4 million followers) earned at least 1 million of dollars during 2020 according to Forbes magazine.
Likewise, Tiktokers with a smaller number of followers are required by brands, since they are considered to have a highly loyal audience and are also less expensive than larger influencers.
Conclusion:
In conclusion, monetizing TikTok and making money on the platform is not just a pipe dream . With quality content, an engaged audience, and collaboration opportunities, you can turn your passion for TikTok into a source of income.
If you are interested in learning more about digital marketing strategies and how to make the most of platforms like TikTok, consider studying at the Technological University of Peru.