How to Make Money on TikTok in 2024
TikTok Monetization: 10 Easiest Ways to Earn Money on TikTok
How to Make Money on TikTok in 2024: 10 Easiest Ways to Earn Money on TikTok
With millions of users on TikTok every day, you've got access to a huge audience that you can earn money from who will purchase your products, watch your videos, or want to hire you for projects. Building an audience on TikTok is easier than any other big platform since it's still one of the newest social media sites. TikTok wants people to create content on their platform, so mastering their algorithm is still easy, and your videos will have a vast reach, especially when you go viral for the first time.
If you want to start making money on TikTok, creating an account in a specific niche can allow you to segment your audience to deliver the exact content they need to be happy, achieve success, or experience entertainment. This article will share how to make money on TikTok in 2024.
How to Make Money on TikTok in 2024
TikTok Monetization: 10 Easiest Ways to Earn Money on TikTok
Collaborate with Brand TikTok Accounts
In marketing, partnerships and collaborations are almost always a win-win situation. The TikTok creator gets paid for the video content and audience they built, and the brand gets the exposure it needs to achieve its sales and marketing targets.
The more targeted your audience, the more likely you are to get brands reaching out to you. For example, if you create content about making money online, software companies that help people achieve financial freedom will likely want to partner with you. And if you constantly model clothing and jewelry, those brands will contact you regarding partnerships. The goal isn't just to amass a big audience but a significant and targeted audience of followers. That way, brands will organically reach out to you to gain access to your fans.
Furthermore, you can also do your outreach by reaching out to brands on TikTok who might be relevant to your audience and want to collaborate with you. Ultimately, in this context, brands have the money and product. In contrast, you have the audience's attention, which makes this collaboration great. You both have what the other party wants. You'll need to be great at creating videos that convert your audience to that brand to keep the partnership going so that making money from this avenue continues to bring more business to you.
Create Video Content for Products You Sell Yourself
You can start earning money on TikTok by creating video content for the products you sell yourself. While partnering with a brand is great, leveling up and building a brand allows you to earn even more income. That way, your TikTok marketing will serve you in two ways: by building an audience, you can grow, and by generating sales for other products you sell. Creating a TikTok account for your brand allows you to build an audience for your business. However, if you also make a TikTok account as a personal brand, you can still do brand deals, promote your products, and earn in other ways. So, think strategically about what you'd rather do.
Are you interested in building a website but don't want to pay a monthly subscription? Payhip offers a free website builder that allows you to sell various items such as online courses, ebooks, physical products, digital downloads, and software. Unlike Shopify, Payhip charges only a 5% transaction fee per sale, and no monthly subscription is required for their Free Forever plan. You can promote your products on TikTok by positioning yourself as an expert, showcasing exciting features, or providing value to your audience. A TikTok video selling your products can help you increase brand awareness and generate sales for your business.
Use TikTok Ads to Make Money
You can earn money on TikTok from TikTok's advertising channel. As the saying goes, it takes money to make money. Investing advertising coins into TikTok to promote a brand or your product can help you increase your sales. The important thing to understand about advertising is that you must target the right segment with the right offer at the right time. You won't make any money back from advertising if your offer is unappealing or if people don't quite get what you're selling. People can lose money from running ads.
However, some people generate millions of dollars from it as well. When using TikTok Ads to earn money, approach your advertising to experiment with different offers, targeting groups, and unique videos from TikTok creators or yourself to see the highest converting methods. From there, you'll want to scale your ads. Plus, you'll want to experiment with more concepts like the one that worked so you can run a profitable campaign on TikTok. If a brand hires you for a project, you can add a budget to run ads with the fee they pay to ensure you get more eyeballs and sales from your marketing.
Offer TikTok Consulting Services
If you want to make money on TikTok, one possible way is to position yourself as an expert and offer consulting services. If you have experience making money online or being an influencer on TikTok, you can share your expertise with others. Possessing any valuable skill people want to learn can be an excellent opportunity to earn money. People are always looking for experts who have succeeded in exciting areas, and if you use your TikTok account to share your knowledge and expertise, people will want to hire you to learn even more from you.
You can use Payhip to offer coaching services to your TikTok audience. Payhip allows experts to sell coaching services, create online courses, sell ebooks, create membership sites, and other digital products. Managing your TikTok profile can drive traffic to your services on your website. When you publish a video on TikTok showing people your accomplishments or what you can do, people are more likely to want to hire you for your expert knowledge to help them achieve their accomplishments.
Start Earning From TikTok Rewards
Did you know you can earn money on TikTok through their referral program called TikTok Rewards?
This program rewards users who bring in new users to the platform. It's important to note that this program has certain age restrictions in some countries, and you can only bring up to 100 new referrals per day (unless you're in Egypt, Morocco, or Pakistan). The referral links don't expire, so even if your friend signs up a year later, you'll still receive rewards for the referral. You'll even receive an invitation reward if your referrals sign up within 24 hours of using your link. You can trade your rewards for actual money, coupons, or mobile top-ups. And if you prefer, you can transfer your money to PayPal or via bank transfer.
Earn From TikTok Coins
TikTok users can purchase TikTok coins to give as gifts to their favorite creators. If you are a TikTok creator, you can accept LIVE Gifts from your followers and collect Diamonds. These Diamonds can be redeemed for cash or virtual items. The more gifts you receive from your followers or viewers, the more money you can redeem. To be eligible for this, you need to have an account eligible to go LIVE, be 18 years or older, have access to LIVE Gifts in your country, and not work in government or public interest roles. Creating high-quality content can help you earn more gifts from your viewers.
Join the TikTok Creator Fund
The TikTok Creator Fund has been rebranded as the Creativity Program Beta. Under this program, creators who meet certain eligibility criteria, such as 10,000 followers, 100,000 views in the last thirty days, and American citizens over 18, can earn money.
The Creativity Program Beta allows creators to earn up to 20 times more than they did under the original creator fund. Additionally, creators can now make longer-form content that they can monetize. However, some rules must be followed, such as not making videos in Duet, Stitch, or Photo Mode, and video content cannot be sponsored. You can read more about the program on TikTok's website.
Join TikTok Affiliate Programs
Many companies seek affiliates with social media followers to join their programs. If you want to promote physical products, you can join the Amazon affiliate program to promote products sold on Amazon to customers. For example, a person might model clothing they bought from Amazon via their affiliate link.
If you are interested in affiliate marketing, you can check out the following resources:
- Affiliate Marketing for Beginners – Ultimate Guide
- How to Start CPA Marketing for Free – The Beginners Guide
- Affiliate Programs Database (Updated)
Buy and Sell TikTok Accounts
Numerous platforms allow you to buy and sell TikTok accounts. If you own a store, you might sell your TikTok account alongside your store to the buyer. Having a TikTok account with a large, engaged, and niche-targeted following can allow you to sell to someone in that niche looking for an established audience. Not everyone wants to build an audience from scratch, so someone might want to buy a pre-built following instead.
Alternatively, you can buy TikTok accounts to promote your products to an existing audience without growing from scratch. Seeing the creativity of someone who grew a large following on TikTok can help you continue the growth and performance of the account. The app has many TikTok accounts you can contact regarding a purchase of their account if you're interested in seeking out an account on your own. Most people keep their contact details in their bio to start the conversation.
Do Tip Collections
On TikTok, earning money is possible via tips. Anyone over 18 can send up to 100 tips daily to any creator. There is a maximum amount of tips each person can tip per day. However, your fans can tip you anytime if you're an active creator. You can ask people for tips when launching something, such as unique or gated content, via DMs.
Ask people to tip you to access a product you sell or to chat with you one-on-one. You might also ask for tips for creating videos for fans, such as birthday messages or other personal content. If you create media for your fans, tip collections can be a great way to make money on TikTok. Plus, you'll look like a hero for stepping up and building relationships with fans.
FAQs About TikTok Monetization
TikTok Monetization: 10 Easiest Ways to Earn Money on TikTok
You'll discover some frequently asked questions about TikTok monetization below.
Can I monetize my TikTok account?
You can monetize your TikTok account through the Creator Fund, brand partnerships, and live streams.
How do I join the Creator Fund?
To join the Creator Fund, you must meet the eligibility requirements and apply through the TikTok app. You must be at least 18 years old, have at least 100,000 followers, and have at least 100,000 video views in the past 30 days.
How much money can I make from the Creator Fund?
The amount of money you can make from the Creator Fund depends on various factors, such as the number of views and engagement on your videos. TikTok does not disclose the exact amount of money paid to creators.
How do I get brand partnerships?
You can contact brands directly or use influencer marketing platforms to get brand partnerships. You must have a strong following and engagement on your account to attract brands.
Can I monetize my TikTok Live streams?
Yes, you can monetize your TikTok Live streams through virtual gifts. Viewers can purchase virtual gifts for you during your livestream, and you can convert those gifts into real money.
How do I withdraw money from TikTok monetization?
To withdraw money from TikTok, you must have a verified PayPal account. TikTok will transfer your earnings to your PayPal account, and you can withdraw the money from there.
Quick Links
How to Make Money on TikTok in 2024
We hope you enjoyed this post. If you did, you might want to check out these other resources:
- How to Make Money on Facebook in 2024
- Profitable Digital Products and How to Sell Them in 2024
- Affiliate Marketing for Beginners – Ultimate Guide
- How to Start CPA Marketing for Free – The Beginners Guide
- How to Monetize the Power of Artificial Intelligence Online
Conclusion – TikTok Monetization
If you want to make money on TikTok, you can use it as a platform to sell your products or services to a large audience. You can also help other brands with their campaigns and get paid for them. Building a business on TikTok can be profitable for creators. You can build your website using Payhip to host products and services and direct your TikTok followers. If you aren't sure whether TikTok is the best platform, you can learn how to make money on Facebook and monetize an audience there instead.
