Recently, Instagram announced it would be launching new tools to help Instagram creators monetize their accounts. Known as Instagram Creator Monetization, how does this relate to TikTok’s existing Creator Fund? If you’re a content creator on any of these platforms, it’s not always clear how you can take advantage of tools to make money with your account.
In this guide, we’ll explore how these creator funds work as well as how to get started. Making money online doesn’t have to be complicated. Whether you’re looking to take your side hustle full-time or boost your existing strategy, here’s everything you need to know.
TikTok Creator Fund
First, what is the TikTok Creator Fund and how does this work? While we’ve talked about the difference between TikTok vs. Instagram Reels in the past, the TikTok Creator Fund was one of the first ways TikTok monetized the platform.
Essentially, the TikTok Creator Fund is an a program in which TikTok creators receive funds based on factors related to their video performance. This is a way for TikTok to give back to some of their most popular creators, offering a way to earn income from the platform.
There is currently no limit on the number of creators who can join the creator fund. The funds are calculated based on all of the following:
- Number of views
- Authenticity of views
- Level of engagement
Lastly, the content must also adhere to TikTok’s creator guidelines. This means it can’t be offensive or against the Terms of Service. The exact amount in the Creator Fund varies daily, but it’s an exciting new feature for those trying to grow their audience on TikTok.
On the other hand, how do Instagram’s new monetization tools compare with the TikTok Creator Fund? There are a few different ways Instagram announced it plans to help creators make more money on the platform:
- Creator shops: Using the shop feature on the profile page, creators will have further tools for selling within Instagram itself.
- Affiliate commerce: Instagram also is launching an affiliate program for influencers and creators. This means creators will earn a small commission payment for any sales generated through their account for partner shops. Instagram is tapping into the power of affiliate marketing with this idea.
- Content marketplace: Instagram also plans to help brands discover budding influencers. This is a tool for pairing brands with the right audience and niche, making influencer marketing more accessible for brands of all sizes.
Which Platform is Better for Creators?
With that in mind, which platform is best for creators? Should they focus on the TikTok Creator Fund or Instagram’s new monetization tools? The answer likely lies somewhere in between. There is no one-size-fits-all when it comes to understanding what’s right for your brand.
First, consider where your audience spends the most time. While Instagram used to reign supreme, many younger audiences are switching to TikTok. This might mean you need to shift your current strategy, depending on your goals.
Additionally, it’s a good idea to focus on both platforms if you can. Cross-promoting videos on both platforms is a great way to repurpose your content and work smarter not harder. There’s no reason to do double the work if you don’t need to! Experimenting with both platforms is the best way to learn your audience and discover which monetization option is right for you.
Make More Money on Social Media
If you’re a content creator or brand, these new changes are an exciting update. Diversifying your income online is always a good idea, whether you’re starting a blog or making new content. Social media is constantly growing and changing to adapt to creator’s needs, and these examples show just how successful that can be.
With so much buzz around the TikTok Creator Fund and Instagram’s new monetization strategy, now is the time to jump on these platforms if you haven’t already. There is so much to discover if you’re open to making new things that speak to your audience.