How to Make Money On TikTok in 2024 .

 

How to Make Money On TikTok in 2024 (7 Simple Ways)

TikTok boasts over 1 and a half billion monthly users, making it one of the best social media platforms for growing an audience.

More than that, its Creator Fund and other monetization features provide a number of options for generating an income straight through your TikTok account.

In fact, some of the platform’s top users rake in millions of dollars in income thanks to their TikTok presence.

Throughout this article, we’re going to cover 12 different ways you can start making money online—right through TikTok. From sponsorships and selling your own products to referring a friend and creating premium content, learn how to make money on TikTok today.

Take it from me – I have 80k followers on TikTok, over 200k on YouTube, and 100k on Instagram. And I’ve tested many of the monetization methods in this article directly.

Ready to start making money on TikTok today?

How to make money on TikTok: 12 ways

Let’s discuss the top ways of making money on TikTok. Keep in mind that how much money you will make depends on a variety of factors (which I’ll cover below).

1. Join TikTok’s Creator Fund

The TikTok Creator Fund is TikTok’s way of supporting and rewarding innovative creators on their platform. Launched in 2020, this program was a smart move by the app to make it a go-to platform for user-generated content.

The TikTok Creator Fund doesn’t depend on ads like other platforms. Instead, your fund amount grows along with your channel and content. It also depends on factors like views from real accounts, the region of your viewers, and more.

And since content engagement on TikTok is dynamic and changes day to day, your funds will also change daily.

You need to meet some requirements to join the program, including:

• You should be 18 years or older
• Have a minimum of 10K authentic followers
• Gain at least 100K authentic video views in the last 30 days
• Based in the U.S., UK, Germany, Italy, France, and Spain
• You need to post original content that aligns with TikTok’s community guidelines
• Need a Pro or Creator account

You also need a personal/creator account to apply for the Creator Fund program—business accounts aren’t eligible.

You can apply for the program by tapping the hamburger menu in the top right corner of your TikTok profile, then heading to Creator tools. You’ll find the Creator Fund and your Creator Fund dashboard under the section labeled Creator Next.

If you earned a payout, it would show up in your Creator Fund Dashboard roughly three days after your video views accrue, and you can transfer your funds ($10 minimum) to PayPal or Zelle 30 days after the month ends.

TikTok Creator Fund earnings vary. Some creators, like @theajbaron, claims to be making good money.

However, for all the brouhaha around the program, some TikTokers feel different. For instance, Anika, a TikTok creator with over six million views and a million likes, was only able to garner about $200 in five months or so.

The TikTok Creator Fund may help you make enough money to splurge on Christmas gifts —similar to money making apps—but it’s hardly going to be enough to make a dent in your college debt.

That’s not to say you can’t make big money through TikTok. You most definitely can. You can partner with sponsors, promote brands, receive virtual gifts, and more. This takes us to our next point.

2. Receive donations for your live streams

One of the many ways to make money on TikTok is by receiving donations from your followers/viewers. It works similarly to Twitch, where your fans donate cash to show they appreciate your live stream.

As a creator, you can turn on Live Gifting while live streaming on TikTok, get awarded in real-time, and cash out your rewards through PayPal.

There’s a slight twist here, however.

Instead of cash, TikTok has several in-app coins that viewers have to purchase before gifting them to their favorite influencers.

They can purchase the coins in their Settings >> Balance >> Recharge tab and then exchange these coins for virtual rewards.

Each reward comes in a bunch of exciting options. They also have different values and require a different number of coins. Note that only users aged 18 (or the age of majority in your jurisdiction) or older can send or receive these rewards.

Viewers can also send stickers directly during the live stream without purchasing the coins.

Now, if your viewers like your content, they can start sending you gifts during your LIVE broadcast. The gifts will pop up on your screen for everyone to see.

 

No matter how small the gift may appear, it feels nice to have someone sending you a message to recognize your work.

Don’t forget to give a shout-out every time you receive a gift to connect with your audiences. If your fans feel appreciated for their gesture, they’re likely to spread the word around, helping you boost your popularity.

Even a simple, heartfelt, “Thank you!” is good enough.

 

At the end of your stream, you’ll be able to see the total number of gifts you received. You can easily see your balance in the “Balance” tab from your account settings area.

You will get awarded with “Diamonds” (virtual credit) in exchange for the gifts based on your popularity. They’ll also take the number and type of gifts into account. Usually, a diamond amounts to 50% of one coin.

Finally, you, as a creator, can exchange those Diamonds for real currency. It may not seem like a lot of money at first. But the more donors you have, the more gifts you receive.

3. Partner with sponsors and brands

Because of its popularity, brands and advertisers are willing to pay big bucks to creators to promote their products on TikTok.

Most brands contact creators through their agents, especially if the creator is already viral on TikTok.

But there’s one way that creators can also earn money directly from advertisers—through TikTok Creator Marketplace.

TikTok is the only social network to offer a built-in program for content creators.

The Creator Marketplace is an official collaboration platform for brands and creators on TikTok. It makes it possible for innovative content creators to partner with brands for paid campaigns.

You drive awareness and attract customers for the brand by mentioning them or using the product in your video. And then you get paid in exchange for posting sponsored content.

The Creator Marketplace allows brands to search for creators and see your profile, follower count, audience demographic, essential engagement metrics, and more.

 

Unfortunately, there’s no way for creators to search for partnerships. Brands can only find your account on the marketplace.

But before collaborating with brands, you have to meet specific eligibility criteria (based on age, video content, follower count, and engagement). You also have to switch to a Creator account first.

Once you meet all of these requirements, you’ll get invited by TikTok to either join or apply.

After joining the Creator Marketplace, head to your settings, click on “Creator Tools,” and then “TikTok Creator Marketplace.” This is where you can manage your creator profile. Make sure to edit your profile and set your rate for sponsored videos to get noticed by brands.

Once you get famous, you can rake in quite a lot for your content.

It’s difficult to predict the potential earnings, but famous creators earn around $500 to $20,000 per video.

However, keep in mind that TikTok doesn’t allow you to take payments from brands through its platform. You have to arrange for payments directly from the brands.

Once you reach a certain level, it’s not the only platform where you’ll earn money. Some particularly famous TikTok stars are all over the internet and growing their Instagram with brands and deals as well.

4. Manage influencers

TikTok is one of the biggest rising platforms for influencers. And there are a lot of influencers out there who are willing to create good content about brands.

But not everyone wants to be viral on the internet. You may be camera-shy or simply wary of the scrutiny that’s part of being famous. If that’s you, you can earn money by managing influencer campaigns.

One of the best ways to do this is by becoming a middleman between the brands and influencers. Your job will be to manage the relationships between brands and influencers, just like brokers or agents do.

You will be in charge of all agreements, activities, dealings, negotiations, and payouts. Additionally, you’ll have to make sure everyone follows through with their part of the contract.

Your job is to be able to handle all of these tasks without any hiccups. In the end, receive a service fee from the deals you create between creators and brands.

Beyond that, you can start your own TikTok agency, where you can also help creators shape their careers. As an agency, you will also handle your performers’ public profile and persona and manage their reputation.

Here’s how you can get started with your own influencer agency:

Plan and build your website

Begin by making a business plan and building your website to establish yourself in the field. Your website should be professional, yet trendy. After all, the entire influencer marketing business is nothing if not trendy.

It should also specify the type of influencers you work with and what you have in store for both creators and brands.

And most importantly, get the official rights to create your agency to protect your privacy and legal rights.

Scout influencers in different niches

After you’re done legalizing your agency, it’s time to scout influencers in different niches. The reason why you need creators in various industries is to cater to different brands. Most brands are naturally going to prefer creators in their key demographics.

For instance, if a sports brand reaches out to you, they’ll prefer to work with an influencer in the fitness or sports niche.

Luckily, you can scout influencers from different niches using TikTok influencer search tools.

Take InfluenceGrid, for instance. The tool helps you discover different performers by their country, topic, niche, engagement rate, follower count, average video views, etc.

 

TikTok’s in-app tool TikTok Creator Marketplace is also a great place to search for relevant creators. Finally, you might want to make a list of influencers specifying their niche on your website.

Here’s an example from an influencer website:

 

You might not be able to scout celebrities and A-list influencers initially. So, start by collaborating with micro-influencers and work on building their career and helping them get viral on TikTok.

Once you get more experience and build a portfolio, you can add more creators to your network and improve your reach.

 

5. Sell your own products

You can generate revenue from your TikTok channel by selling your products directly on the platform. Through TikTok Shop, you can tag your products in both your feed videos and your live streams in order to drive sales.

Promote your e-commerce products directly through TikTok to start generating even more income through your business and your TikTok profile. Create TikTok videos that share the perks of your products. This can also be a great way to sell merch to your followers.

You can create a TikTok Shop with both a creator and business account, making this an option for all TikTok users. Again, head to your Creator tools to get this set up. List all of your products so visitors to your profile can easily view them from the Shop link in your bio. Plus, you can then link to any products you mention in your videos to make it easy for your viewers to make a purchase.

Here’s an example of what your TikTok Shop could look like:

 

6. Grow and sell TikTok accounts

Flipping social media accounts isn’t a new way to make money.

Many people already do that on social media sites like YouTube, Instagram, Twitter, and Snapchat.

You’ll first have to grow a TikTok account by gaining TikTok followers and encouraging ongoing engagement. And once you reach a specific number, you can reach out to brands and individuals who might require a profile in that niche.

I suggest building your account around a specific theme, as they are easier to sell. This way, brands that are unwilling to grow their profile from scratch can take over your account easily. And their viewers might not even notice the takeover.

For instance, if you build a fashion-based profile, any fashion-related brand might buy it from you. As an added perk, advertising for niche profiles is also easier than for generic profiles with simply dances and skits.

Brands or individuals seeking niche profiles will naturally search for specific terms, which might lead them to your page.

You can also build a website to advertise your profiles and get in touch with interested buyers, or you can sell them on third-party marketplaces like Fameswap.

Here are some of the TikTok profiles on sale:

After a little research, you’ll be able to deduce the approximate selling price based on the number of followers. Naturally, the higher your following, the more you can make.

Keep in mind though that there are several variables that affect the price other than the follower count.

While there’s no official information on this, here’s what you can make flipping TikTok profiles:

• 1-13k followers = ~ $100
• 13-50k followers = ~ $100-$500
• 50-100k = ~ $500-$1000
• 100-500k = ~ $1k-5k
• 500k-1M+ = ~ $1k-30k

7. Launch your own music or artist career

If you want to showcase your talent and catch the eye of a credible talent agency, TikTok is the place to be.

Social media can be a stepping stone to immense international fame and recognition.

Think Addison Rae.

She has done well on every other platform—even better than on TikTok—and is now a household name in the US. The influencer was also invited by the well-known talk show host Jimmy Fallon and even recently bagged her own Netflix show.

And not just that, her recently launched song earned #10 on the latest editions of New Music Friday and Pop Rising on Spotify. And if this Forbes report is anything to go by, she makes around $5 million a year.

And she’s not alone.

TikTok can take credit for more than a few teen success stories like Addison’s.

The growth trajectory one can achieve from social media platforms like TikTok is nothing short of incredible, and you can launch any career you want through TikTok—cooking or baking, singing, acting, comedy, and more.

With TikTok, your content could be seen by a producer, or someone equally important, who may help you land a life-changing gig.

And while getting noticed by someone prominent is great, it isn’t necessary to see success on TikTok. You can get famous and start earning all on your own.

Begin by going viral on TikTok and then plan your transition to other platforms like YouTube and Instagram. You can then start posting your content on various outlets, thereby growing your audience base and revenue sources even more.

With that, you’ll have three essential things you need to become a famous artist—a relevant audience base, digital publishing outlets, and a regular revenue stream.

8. Bring in cash through associate projects

Partner showcasing is a technique that includes advancing items and administrations for brands in return for a commission of sorts on the off chance that somebody joins or makes a buy. More often than not, the commission is in financial structure, coming as a level of the expense. Different times, it could be cash off your next buy or a free month off your membership.

Begin with organizations you as of now love to make advancing their items simple. Take a gander at the footer of their site or look at our rundown of north of 150 member projects to find organizations you need to work with. Pursue their offshoot program to get a remarkable connection.

Perceive how @rachel_meaders advances Amazon Partner items inside her posts. She makes reference to her connection in her profile and connections out to explicit hashtag feeds to additionally advance the post.

You can then make TikTok content advancing their items or potentially benefits and incorporate your member connect as a feature of your profile bio. You can utilize a connection in-bio device like Linktree to make a presentation page of sorts to advance numerous subsidiary connections without a moment's delay.

Each time somebody makes a buy, you'll get a commission. Commissions can be somewhere in the range of 10-20%+ for each buy. The more watchers your recordings get, the more pay you can create through associate showcasing.

9. Turn into a TikTok expert

In the event that you've seen outcome in developing a TikTok presence, why not take that experience and pass it on? For an expense, obviously. Make your own TikTok consultancy, offering key exhortation and experiences on how brands and different makers can assemble connecting with content that helps them both form a crowd of people and create pay.

Make a site with data about your counseling administrations to make it simple for intrigued brands and designers to reach out to you. Then advance your administrations and your outcomes through recordings on your own TikTok account.

Administrations you can offer include:

• System building

• Training

• Video creation

• Video/profile enhancement

• Video ideation

Anything is possible for you, truly. Anything that you have insight with can be utilized as a help proposing to assist with getting much more pay through TikTok counseling.

10. Offer select substance

TikTok delivered another element in June 2023 called TikTok Series, which is a method for making premium substance behind a paywall. Your series cost can go from $0.99 to $189.99 and can ultimately depend on 80 recordings in length, with video lengths of as long as 20 minutes each.

Utilize your superior series to share instructive substance (i.e., your training content might actually live here) or engaging substance, practically like a television series.

You can likewise make different Series, giving you extra income streams through premium substance. Set your sticker cost in light of what you think the substance is reasonably worth and begin advancing.

11. Allude your companions

TikTok likewise offers a reference reward for enrolling companions to make new records on the application. It's practically similar to a TikTok subsidiary program, where you'll get an extraordinary connection to ship off companions that they can use to join.

Remember that to meet all requirements for the reward, any clients you allude should never have downloaded the TikTok application or made a record previously. Clients from specific nations can welcome up to 100 new clients each day, however different nations have no restriction.

12. Gather tips

Last, however absolutely not least, turn on the capacity to gather tips. Access this under Maker devices > Maker Next. Tap the choice for Tips to turn on the capacity to gather tips from your adherents. Remember that you should have no less than 100,000 supporters to be qualified for this component.

When you turn it on, a "Tips" connection will be added to your profile. Clients can tap it to consider your previous tips to be well as to leave their own tips. In the event that you fabricate a dependable and drew in crowd, you're considerably more prone to get tips. You can likewise put a source of inspiration requesting that your watchers leave tips assuming they enjoyed your substance.

The significance of being real

Despite the fact that TikTok offers numerous adaptation valuable open doors, it's a good idea to be valid and draw in with your crowd for the long stretch. You can't utilize TikTok to bring in cash without having a steadfast crowd who interfaces with you.

This implies drawing in with your crowd by remarking on their recordings, sending hearts, following them back, and being dynamic on TikTok consistently.

Validness isn't just fundamental for turning into a top TikTok maker. It is additionally one more method for bringing in cash on the stage as large brands and promoters lean toward supporting makers with high commitment (likes, remarks) on their recordings.

Thus, your substance should be something that individuals will really need to watch — whether it's an instructional exercise video, a lip-sync video, or a dance video, you want to have a natural association with the crowd on the off chance that you believe that they should connect more regularly.

Being legitimate not just makes you stand apart from other dynamic clients yet in addition assists powerhouses make more private associations with their crowds. Also, obviously, brands love working with such powerhouses since they can relate better with buyers. Eventually, everything returns to the significance of commitment. Very much like you bring in cash contributing to a blog through real satisfied, powerhouse showcasing can set out a few extraordinary open doors for the two players.

Bring in cash through your TikTok account today

TikTok is the most sweltering web-based entertainment webpage at the present time, and each and every individual who needs to popular is transfer there. The application for short-structure video sharing is a thundering accomplishment among recent college grads and permits you to impart your abilities to the world.

The examples of overcoming adversity emerging from the stage are bountiful, and yours could be the following one.

You should simply follow the right advances and you also can take advantage of the entirety of that moolah.