How To Make Money on TikTok in 2024 | 5 Easy Steps

Are you hooked on scrolling through TikTok for endless hours? It's time to turn that passion into profit! With its staggering user base of over 1 billion people worldwide and availability in more than 40 countries, TikTok isn't just a social media powerhouse—it's a cultural phenomenon. In 2020, it even clinched the title of the most downloaded app, quickly becoming the go-to source for all things trending, especially among Gen Z.

Dive into our guide full of practical strategies and tips to discover how you can start earning on TikTok. Let's unlock the door to making money on this vibrant platform and transform your TikTok time into a rewarding venture!

Can you make money on TikTok?

Yes, making money on TikTok is a real thing! Lots of users are already enjoying the perks (we're talking fancy cars like Addison Rae's Tesla Model X)

Ways to Earn on TikTok

First up, consider joining TikTok's Creator Fund if you're serious about earning. You'll need 10,000 real followers and at least 100,000 video views in the last month. Remember, you must be 18 or older and live in the U.S., U.K., Germany, France, or Spain.

Don't worry if you're not a follower magnet yet. There are still plenty of ways to make money on TikTok, much like on Instagram and YouTube.

How do you make money on TikTok? 10 Easy Ways

TikTok isn't just about catchy 15-second clips filled with singing, dancing, laughter, and adorable cat moments. It's also a goldmine of opportunities for those aiming to monetize their presence, be it content creators or business owners eager to widen their reach. Let's explore these proven strategies to turn your TikTok activities into a lucrative endeavor.

1. Sign up for TikTok Creator Next

Creator Next is where TikTok users find all the tools to make money on the app.

TikTok says Creator Next is for helping creators make money as they grow and connect with more people. By joining Creator Next, you get special tools and features that help you make more from your TikTok videos, whether it's just for extra cash or a full business.

How to Join Creator Next

To get into Creator Next, you need to:

• Be 18 years old or more.
• Have shared 3 videos in the last month.
• Get at least 1,000 views on your videos in the last 30 days.
• Have enough followers (the exact number depends on where you live).
• Live in the U.S., U.K., Germany, France, Italy, or Spain.
• Remember, if you have a Business Account, you can't join!

With Creator Next, you get access to different ways to make money, but each one has its own rules for joining. Joining Creator Next is a great step to take your TikTok to the next level!

2. Run TikTok ads

Did you know that a huge chunk of young people are on TikTok? About 67% of 18-19 year olds and 56% of 20-29 year olds use TikTok, making it a hot spot for reaching Gen Z. If you're looking to get your products in front of young eyes, TikTok ads are the way to go. The platform offers easy-to-use tools that let you tailor your ads to millions of users. You can customize who sees your ads based on age, where they live, what they like, and more. Pick the ad types that fit your brand the best.

Here are some popular TikTok ad formats:

• In-feed video ads: These pop up on the "For You Page" of users who match your target audience.
• Brand takeover ads: These ads take over the whole screen for a few seconds before turning into an in-feed video ad.
• Hashtag challenges: Start fun challenges that get people to create their own content. These show up in TikTok's Discovery area. But remember, this is only for brands working directly with TikTok's sales team.

There are even more ad types to try on TikTok, but some are only for certain accounts. So, dive in and see which ads help you connect with your audience!

3.Sell products directly through TikTok

TikTok Shop is a game-changer for brands, letting you weave ecommerce right into the app. It's like having a cozy shop in the digital world of TikTok.

You can team up with TikTok stars to get your products featured on their channels. Use your own TikTok videos, go live, or use the product showcase tab to show off what you're selling.

Ready to Sell on TikTok? Here's What You Need:

• For Sellers: You should be based in the UK, Chinese mainland, Hong Kong, or Indonesia. You'll need to back this up with a local phone number, your business registration, and valid ID.
• For Creators: Make sure your account is up to scratch. You'll need at least 1,000 followers, a minimum of 50 video views in the last 28 days, be at least 18 years old, and have uploaded a video within the last month.

Jump into the world of TikTok Shop and start selling today!

4.Earn Money on Tiktok Through Affiliate Programs

Affiliate marketing presents a sophisticated and lucrative avenue for TikTok creators to monetize their influence without the need for developing personal merchandise. By integrating affiliate links into their content, creators can earn commissions on sales generated through these links, offering a seamless way to capitalize on their recommendations.

Consider the strategy employed by influencers in niche communities, such as #WaterTok's TayTayyMarie. By embedding affiliate codes for select products—in her case, water syrups—within the captions of her videos, and directing followers to a curated Amazon storefront via her profile bio, she taps into a steady stream of commission income from products she endorses.

This model is especially potent for creators with a focused content theme, such as literature enthusiasts on #BookTok. By compiling and sharing lists of recommended reads—perhaps themed around summer beach reads—creators can attach affiliate links for each book, directing followers to purchase platforms like Amazon.

This not only provides value to the audience in terms of curated content but also translates into direct financial gains for the creator through the affiliate sales mechanism.

This approach underscores the importance of authenticity and alignment between the creator's content and the products they choose to promote. Successful affiliate marketing on TikTok hinges on trust and genuine recommendations, ensuring that the audience feels guided rather than advertised to, thereby enhancing the potential for conversion and earning through affiliate links.

5.Earn Money by Collect gifts

TikTok offers a unique monetization feature that allows viewers to express their appreciation for creators through virtual gifts, which can be converted into real earnings. This process might seem a bit intricate at first, but it's a viable way for creators to earn from their content. Here's how it works:

1. Purchasing Coins: Viewers start by buying "Coins" within the TikTok platform. These coins serve as the currency for acquiring virtual gifts that they can give to creators during live streams or while watching videos.
2. Sending Gifts: When viewers come across content that resonates with them or they find particularly impressive, they have the option to send a virtual "gift" to the creator as a token of their appreciation. It's important to note that only creators who are part of the TikTok Creator Next program are eligible to receive these gifts.
3. Converting Gifts to Diamonds: The virtual gifts received by creators are then converted into "diamonds" within the platform. These diamonds accumulate and, once a creator has gathered a sufficient amount, can be exchanged for actual money. The conversion rate is set such that two coins equate to one diamond, and each diamond holds a monetary value of $0.05.

Given this conversion mechanism, having a large and generous audience becomes crucial for creators looking to leverage gifts as a significant income source. The more engaged and appreciative the audience, the greater the potential for gifts to translate into a substantial financial benefit for the creator.

How to choose the best way to get paid on TikTok

Choosing the most effective method to earn money on TikTok can seem daunting given the plethora of options available. To make an informed decision, reflect on the following key considerations:

Identify Your Objective

First and foremost, clarify your primary goal on TikTok. Are you aiming to secure paid partnerships with brands, or is your focus on leveraging TikTok to boost your own business ventures? Your overarching objective will significantly influence the most suitable monetization strategy for you.

Evaluate Your Audience Size

The scale of your follower base plays a pivotal role in unlocking certain revenue streams. For instance, eligibility for TikTok's Creator Fund, influencer collaborations, or brand ambassador roles typically requires a substantial follower count and consistent video engagement. Without a significant audience, your monetization prospects may be somewhat constrained.

Understand Your Niche

Your specific area of content expertise—be it beauty, comedy, dance, wellness, or fitness—can naturally align with particular monetization opportunities. For example, if your content predominantly features dance, leveraging song promotions could emerge as a natural and effective revenue avenue.

By thoughtfully considering these aspects—your goals, audience size, and niche focus—you can more accurately determine the monetization methods that will best align with your TikTok presence and aspirations.

Additional Tips for Earning Money On TikTok

1. Participate in Sponsored Challenges:

Brands often sponsor challenges or contests on TikTok, inviting creators to participate using specific hashtags or themes. By joining these sponsored challenges, you can gain visibility and potentially secure partnerships with brands, leading to sponsored content opportunities.

2. Offer Exclusive Content:

Consider using platforms like Patreon to offer exclusive content to your most dedicated followers. This could include behind-the-scenes footage, early access to videos, or exclusive Q&A sessions. By providing value beyond your TikTok content, you can create a loyal community willing to support you financially.

3. Teach What You Know:

If you have a skill or expertise that's in demand, consider hosting workshops or creating online courses. Whether it's dance, makeup, fitness, or any other area you excel in, you can use your TikTok platform to promote and sell access to your educational content.

4. TikTok Consulting Services:

For those who have mastered the art of TikTok, offering consulting services to brands or individuals looking to grow their presence on the platform can be a lucrative avenue. You can provide insights, strategy development, and content creation tips based on your successful experiences.

5. Leverage TikTok for Affiliate Livestreams:

With the rise of livestream shopping, you can host live sessions where you showcase products and use affiliate links to earn commissions on sales made during the livestream. This combines the engagement of live interaction with the earning potential of affiliate marketing.

Conclusion

In summary, monetizing your TikTok presence involves a blend of creativity, strategy, and engagement. From direct monetization through TikTok's Creator Next to innovative approaches like affiliate marketing and sponsored content, the opportunities are diverse.

Success hinges on aligning your content with the right monetization methods, understanding your audience, and maintaining authenticity. By focusing on these key elements, you can transform your TikTok activity into a profitable venture, leveraging the platform's vast reach and dynamic nature for financial gain. Embrace the journey, and let your unique content guide you to monetization success on TikTok.