2. Live Gifts

Most social media have a livestream feature where creators can interact with their audience live.

However, what makes TikTok’s live feature different is that creators can receive virtual gifts from their audience that they can redeem for money. TikTok’s Live gifting allows fans to show gratitude to the creators they love.

How this works is the viewers buy coins (TikTok coins) from TikTok then they use those coins to send gifts on livestreams which appear as stickers while the livestream is proceeding.

After the live stream has ended, TikTok will convert the received gifts to diamonds. A creator can also receive diamonds based on the popularity of their content but a sure way is to receive gifts.

Note that even normal videos (Not live) can receive gifts.

Diamonds are worth 50% of the value of coins. So suppose you receive a gift that is 5,000 coins that will be equivalent to 2,500 diamonds.

The worth of diamonds also varies based on whether the diamond was received on a live stream or on a normal video.

Diamonds received on livestream gifts are approximately worth $1 for every 200 diamonds. That’s half a cent (0.5 cents) for every diamond.

Diamonds received on video gifts are approximately worth $1 for every 100 diamonds. That’s one cent (1 cent) for every diamond.

With this calculation, you can see how much you can earn from TikTok.

TikTok introduced this feature so as for creators to strive to create good-quality content to satisfy their viewers and in return they can earn money from that.

How to sign up for TikTok Live and Video Gifts

1. Go to your profile page and click the hamburger icon (Three vertical bars icon)

2. Select ‘TikTok Studio’ (This was previously known as Creator tools)

3. Under the monetization section you will see ‘Video Gifts’ and ‘Live Gifts’. You can click on both one by one to turn them on.

Criteria to meet to be eligible for turning on gifts

• Have at least 10,000 followers
• Videos must pass safety moderation
• Have an account that’s been active for at least 30 days
• Meet the age requirement (which is usually 18 but even older than that in some countries)
• Account must not be used by government, politicians or political parties

3. Selling products on TikTok Shop

TikTok partnered up with Shopify to bring TikTok shop which enables accounts to link their Shopify stores directly on their TikTok accounts and have a shop tab on their profile.

This allows creators to create mini-store fronts that appear as a tab on their profile page and other users can directly browse products and buy them directly on TikTok.

This is a good thing for brands and creators that already sell products because they can promote their products on TikTok and directly make sells on the same platform reducing the steps for the potential customers to make the purchase on a different platform.

For now, TikTok Shop is only available in some countries and at the time of writing, it’s only available in Indonesia, Malaysia, the Philippines, Singapore, Thailand, the United Kingdom, the United States, and Vietnam.

If you’re in one of these places you can take advantage of TikTok Shop today.

How to Setup TikTok Shop

1. Create a TikTok business account

2. Register for TikTok Shop on the seller registration portal

3. Wait for results between one to three business days.

4. Once approved, link your TikTok account to your TikTok Shop

If you don’t currently sell products and you still want to leverage TikTok Shop to make money then you can sign up as an affiliate.

We talk about this in the next way on how you can make money on TikTok.

4. TikTok Affiliate Partnerships

If you are a creator with a lot of followers but you don’t have your own products to sell then you can take advantage of TikTok shop’s affiliate partnership.

With TikTok Shop Affiliate, you can link other brands’ products in your videos and livestreams then you get a percentage of whatever sales you make. The commission can range anywhere between 15% to 30% or even more for some brands. It depends.

Criteria to meet to be eligible for TikTok shop as a Creator

• Have an account in good standing
• Follow TikTok’s Community Guidelines
• Have over 5,000 followers
• Be at least 18 years old

If you meet the criteria, you can apply to be a TikTok Shop Creator

5. Selling Digital Products

Another way to make money on TikTok is to sell digital products. If selling physical products is not for you, you can create and sell digital products.

The barrier of entry to selling digital products is low compared to selling physical products and anyone can create digital products.

Don’t think that you can’t create a digital product or that you don’t have anything to share.

You can create digital products and your audience will be interested in them.

For your first product, you can create an eBook that answers some questions that you frequently receive from your followers.

You can then give this out for free or price it as low as $5.

Your goal is to collect your followers’ emails, see their interests, and gather feedback.

From all this, you will see what your audience is interested in and you will have gathered enough feedback so that when you launch your next product it will be something that your audience specifically asked for.

Let’s say that you frequently get questions and comments about growing your TikTok followers.

You can create a simple eBook around that. It may be “10 Myths About Growing a TikTok Audience” or “101 Answers to Common Questions About Growing on TikTok”.

Don’t overcomplicate creating the eBook. Just head over to Google Docs and write it there. For the cover page, head over to Canva and design something simple.

To sell your eBook, use Gumroad. Gumroad is an e-commerce platform for creators to sell their products directly to their audience.

Gumroad is easy to set up and offers a nice experience for the buyers.

After your product is done, you can announce it to your audience and share its link.

Many creators have earned a lot of money from selling digital products.

It’s just selling your knowledge or things that you create.

If you know graphics design then you can sell a course to teach graphics design or sell graphics design products (Banners, posters, wallpapers, etc)

If you are a YouTube expert, you can teach video editing and YouTube SEO or you can sell YouTube thumbnails.

If you are a writer, you can sell a writing course or you can offer ghostwriting services.

The point is you can create a digital product on what you know.

Leverage this way to start making money on TikTok.

6. Affiliate Marketing

What’s difference about this with TikTok Affiliate Partnerships is that with this is that with this you affiliate for individuals but you are not confided with TikTok.

For instance with to be eligible for TikTok Shop Affiliate, you need to have at least 5,000 followers but with normal affiliate marketing you don’t need to have all those followers.

You just get your affiliate link and you can share it with your audience and whenever you make a sale, you get your commission.

To get started with affiliate marketing, you can check with products you want to affiliate for and check if they have an affiliate program that you can join.

You will find that most will have an affiliate program. Especially for software companies that sell software products (SaaS, etc)

You can then sign up for the affiliate program and start selling.

Even Hypefury has an affiliate program that you can join if you are interested. What’s great is that as long as someone who joins with your link is subscribed you will receive your commission every month.

Example if someone sign ups to the starter plan through your link, you will receive $7.25 every month for that one person.

You can also affiliate for creators who sell digital products.
Most creators are glad to have affiliates and they may mention it on their posts that they are looking for affiliates.

If you buy a great digital product and you think that you may be able to promote it then you can even ask the creator through DMs or on a comment that you would like to be an affiliate.

The commission percent can rang from 15% to as high as 50%!

A lot of people have made money with affiliate partnerships and it’s great way to make money online.

It’s also how I made my first internet money 🙂

7. Brand Partnerships and Sponsorships

The last way that you can make money on TikTok is brand partnerships and sponsorships deals.

To do this you need to be focused on a specific niche and have authority in it and possibly more than average followers so that when you recommend a brand people trust you and take action because brands want their products in front of their targeted audience’s eyes.

Once you have a huge following and authority brands will sometimes get in touch with you for deals.

However, the best way is for you to cold DM and show them how you can help them.

This is the same way many people do do deals with Hypefury.