How to Make Money on TikTok in 2024

If you’re already spending hours a day on TikTok, you might want to consider how you can monetize your hobby. With over 1 billion active global users, operating in over 40 countries, TikTok has become one of the most popular social platforms. In 2020, TikTok was the most downloaded app and is becoming the new search engine for Gen Z. 

How do you make money on TikTok? 15 proven ways (and one bonus!)

TikTok allows users to create and share 15-second to 10-minutes videos. There are singing, dancing, comedy, and lots of cute cat videos. There are also many opportunities to monetize TikTok, whether you are a content creator or a business owner looking to expand your market.

1.  Join TikTok’s Creator Fund

TikTok uses its Creator Fund to encourage popular TikTokers to keep creating engaging content. As a creator, once you have at least 10,000 followers and at least 100,000 video views over the last 30 days, you have the potential to start earning money. 

The Creator Fund provides an opportunity for you to earn money doing what you love. The amount you earn is based on a number of factors, including the number of views, authenticity of views and level of engagement on your content. To start earning with TikTok’s Creator Fund, you do need to apply through the pro/creator account.  

2. Partner with a brand you trust

It’s possible to make money online with TikTok by partnering with a brand you believe in. 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. You can reach out directly to these brands and pitch a partnership. 

3. Sell products through TikTok Shopping

TikTok shop has an e-commerce solution built right into the TikTok app: there is no need to open a separate browser to shop for a product because you can purchase directly through TikTok. Creators can use TikTok Shop to reach a wider audience and promote their brands and products. Creators can also easily link to products featured in their videos. In addition, there is an opportunity to earn through TikTok Affiliate. You can use the Affiliate Program to promote brands that are relevant to your followers and then earn a commission on any sales you make. 

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4. Drive Sales with TikTok Ads

With TikTok’s Ads Manager, you can reach new audiences by getting your brand in front of the right viewers. TikTok reports that 1 in 3 users bought a product because they saw it on TikTok. Ads Manager can help you target and find your ideal audience. It offers a suite of creative tools to help you create and edit your videos with tons of ready-to-use video templates. You can also measure the performance of your ads. 

5. Participate in affiliate programs

As a creator, you can promote and sell another company’s products or services through affiliate marketing. If a viewer decides to buy the product or service based on your content, you earn a commission. Focus on brands you already love and trust to keep your videos authentic. 

6. Promote songs 

You can earn money on TikTok by promoting songs in your videos. Record labels will pay TikTok users to use a certain track in their video in an attempt to get the song to go viral. You can earn up to $250 per video with TikTok’s PlaylistPush program. The exact amount you earn on a video will depend on how many views it generates. To join the program you can apply as a TikTok Creator. 

7. Publish sponsored posts

If you’re a TikTok influencer, a micro- or a nano-influencer (between 10,000 and 1,000 followers respectively), you can work with brands to create sponsored posts. It’s your job to create content that promotes the brand’s product or service and share it with your followers. In exchange, the sponsor pays you. 

8. Become a brand ambassador

A brand ambassador is a person who represents a company and creates awareness of a brand’s products and services with the goal of driving sales. Brand ambassadors differ from regular influencers in that they are typically hired by a company for the long term, and are highly educated on the brand. They also might agree to an exclusive partnership with the brand. There are different compensation methods for brand ambassadors including short and long-term paid agreements (similar to a regular job), affiliate links, and free products. 

9. Build and sell TikTok accounts

If you have the ability to organically grow a TikTok following, you can consider building and selling TikTok accounts. Since it takes time to build a following on TikTok, some brands will pay to purchase an established account. To do this successfully, you should focus on a specific niche market that you can easily hand off to a buyer. 

10. Work with influencers

If you have a product or service that you want to market to a larger audience, you can consider working with TikTok influencers. The right influencer can help you grow your brand and drive more sales. You want to look for influencers that create content related to your industry and have an audience that fits with your brand. Once you decide which influencers you would like to connect with, you can reach out to them directly or through their talent agency. 

11. Receive donations through live gifting

Content creators can start to collect Diamonds (TikTok’s digital currency) through Live Gifts on TikTok. When viewers are on your LIVE videos, they can send you Gifts. Once you collect enough Diamonds, you can exchange them for a reward payment in the form of money or virtual items. 

To start collecting Diamonds, you have to meet TikTok eligibility requirements, including being 18 years or older and having at least 1,000 followers with an account that is at least 30 days old. You keep 50 percent of whatever you earn, andTikTok takes the other 50 percent as a commission. 

12. Raise money through crowdfunding

If you’re trying to fund a new startup or launch a product, you might consider using TikTok to crowdfund. Crowdfunding is a way to tell people about a great idea you have, sell preorders, and then use that money to develop your product and deliver it to the people who funded you. You can use TikTok to promote your crowdfunding opportunity.   

13. Collect tips

If your viewers like what you’re doing, they can send you tips directly through your TikTok profile. You get to keep 100% of the tip amount (minus the Stripe processing fee). Before you can start collecting tips you must meet TikTok’s eligibility requirements. You have to be over 18 years old, with at least 100,000 followers. 

14. Boost your business

If you already have an established business, you can use TikTok to market your business and potentially bring in new clients or customers. Whether you’re a web developer, child psychologist or fitness expert, posting short videos to promote your expertise and services can help to expand your reach. 

15. TikTok Rewards

TikTok will pay you to recommend the platform to your friends. When you help TikTok grow its community, you can earn through the TikTok Rewards referral program. To start earning, you copy your unique referral link from your TokTok profile. Then you share your link with a friend or family member who isn’t on TikTok yet. If they join, you earn rewards. After accumulating enough rewards, you can redeem them.

16. Send followers to a Patreon account

TikTok doesn’t have to be the source of your income. Creators on Patreon get paid by followers for their artistic efforts, and you can direct your followers on TikTok to you paid page elsewhere. Stuff to charge for on Patreon include behind-the-scenes videos, branded merch (of your brand, of course), live chats and bespoke videos.

How to choose the best way to get paid on TikTok

With so many ways to make money on TikTok, how do you decide which method is right for you? To narrow down your options, consider the following questions: 

What is your goal?

Do you want to get paid to promote a brand, or do you want to use the platform to market your own business? When trying to choose the best way to make money on TikTok, you need to consider what you are ultimately trying to do. 

How big is your following?

Without some sort of following, your money-making options are more limited. To make money using TikTok’s Creator Fund, as an influencer or brand ambassador, you need a considerable amount of followers and video views. 

What is your niche?

What is your focus on TikTok? Are you all about beauty, comedy, dancing, clean living or fitness? Your niche will likely lend itself to certain money-making opportunities more than others. For instance, if all your videos feature you dancing, song promotion might be an easy fit. 

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Frequently asked questions (FAQs)

How many TikTok followers or likes do you need to make money?

It depends on how you plan to make money on TikTok. If you want to make money through TikTok Creator Fund, you need to have at least 10,000 followers and at least 100,000 video views in the last 30 days.

How much do TikTokers make?

The amount TikTokers make can vary greatly based on how many followers and video views they have as well as how they monetize their TikTok. 

How many views do you need on TikTok to make money?

To start making money through Tikok’s Creator Fund, you need to have at least 100,000 video views in the last 30 days. You also have to have at least 10,000 followers. You must apply to the TikTok Creator Fund through the pro/creator account. 

How are TikTok Creator Fund earnings calculated?

The amount you earn is based on a number of factors, including the number of views, the authenticity of views and level of engagement on your content. The amount you can earn will fluctuate depending on what is being posted by the TikTok community on a particular day.

Source: https://time.com/

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