How to make money on TikTok

You may associate TikTok with hours lost to scrolling through short videos of everything from dogs to dance challenges, or perhaps you mainly know it as a topic of contentious debate. Either way, the social media platform has a surprising use case: making money. 

Many users are leveraging TikTok to bring in cash and believe it or not, the platform has the potential to be pretty lucrative. But is it a good idea?

How to earn money on TikTok

There are actually a lot of ways to monetize TikTok, including by:

• Joining TikTok's Creator Fund: TikTok has a Creator Fund, which Keira Jones, a TikToker who manages and advises other TikTok brands, explained to Nerdwallet as "basically a pool of money that TikTok distributes between everyone" who is in the fund. The point of it is to encourage popular creators on the platform to keep putting out their content. To be eligible, however, you'll need to "have at least 10,000 followers, received at least 100,000 video views in the last 30 days, and have met a few other qualifications such as being 18 or older," per Nerdwallet. You can apply through the pro/creator account to start earning.
• Picking up brand partnerships: Another way to earn money through TikTok is by partnering with brands. "For instance, if you're a makeup artist who posts makeup tips and tutorials on how to achieve the perfect winged liner, you might want to try and partner with your favorite makeup brand," Time explained. From there, you might post a TikTok featuring any products the company sends you in exchange for some money. You can reach out to brands you're interested in working with directly, or if you have enough followers, brands might start reaching out to you. However, Jones told Nerdwallet that the latter is more likely to happen "the more niched down you are" — meaning TikTok accounts with more specific focuses tend to do better with this approach than accounts with broader content.
• Selling through TikTok Shopping: You can also sell products through TikTok, thanks to the e-commerce platform built into the app. Not only can you promote products using TikTok, creators "can also easily link to products featured in their videos," Time noted. The products don't necessarily have to be your own either — it's possible to tap into TikTok Affiliate, which you can use "can also easily link to products featured in their videos," Time added.
• Promoting songs: Yet another option for bringing in money on TikTok is by promoting songs in the videos you make. "Music marketers and record labels regularly pay TikTok users to post on the app in an attempt to make a new track go viral," according to Insider. You'll have to apply as a TikTok Creator to get in on this potential income, but after that, you can make "up to $250 per video with TikTok's PlaylistPush program," Time said.
• Marketing your own business: You could also leverage TikTok to promote a business or even just a hobby that you already have. By making TikTok content, you could attract more buyers or clients, and just generally expand your reach. "It's an incredible way to drive traffic to other channels — to your website, to your email list or to your YouTube channel," Jones told Nerdwallet. One TikToker estimated that 80% of her income is driven by TikTok referrals, NerdWallet reported.

How much can you earn from TikTok?

How much you can rake in can vary widely. For creators, it largely depends "on how many followers and video views they have as well as how they monetize their TikTok," Time said. 

For instance, a water park influencer with 9 million social media followers has earned as much as $20,000 for a single sponsored post, according to Insider. Meanwhile, an artist with just over 40,000 followers earned $574 from the TikTok Creator Fund. 

For song promotion, someone "with 200,000 to 300,000 followers that gets between 20,000 and 30,000 likes on a video could earn $200 for a song promotion," Insider reported. Whereas for those "who have around 50,000 to 150,000 followers, rates are more variable, but can fall anywhere from $20 to $150."

What should you consider before you start trying to earn on TikTok?

If you're interested in trying to capitalize on TikTok, it helps to go in with a plan. Start by considering your goals, and which earning method makes the most sense for you. Are you ok with boosting someone else's brand, or would you rather establish and promote your own business? Also assess how many followers and how much engagement you already have, as you'll generally need to hit benchmarks to open up certain opportunities, such as applying for TikTok's Creator Fund.

It can also help to have a niche. Figure out what you're passionate about and what value your content can provide. "Your niche will likely lend itself to certain money-making opportunities more than others," Time noted. "For instance, if all your videos feature you dancing, song promotion might be an easy fit."

And even though this is all a business, experienced TikTokers say that it's important to stay authentic and remember to have fun with the whole thing. If TikTok just doesn't feel like a natural fit, or you're struggling to gain traction, remember there are plenty of other ways to earn money, online or off.

Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She has previously served as the managing editor for investing and savings content at LendingTree, an editor at SmartAsset and a staff writer for The Week.