How to Make Money on TikTok

TikTok has come a long way from a fun video-sharing app to one of the most lucrative social media platforms for content creators. TikTok boasts more than 1 billion active users globally, which means there are more than enough opportunities to earn money.

Whether a creative content creator, brand owner, or popular influencer, you can turn your TikTok presence into something highly profitable.

These steps ensure you can monetize your account in 2024 and beyond.

Build a Strong TikTok Presence

Before the money can start rolling in on TikTok, you must have a solid presence on the platform.

If you are new to TikTok, the first thing to do is find a niche you and your potential followers are passionate about.

Popular niches do not only include cat videos and people falling. In 2024, people are interested in beauty products, writing tutorials, cooking videos, and fitness strategies. TikTok users also want to see educational videos on technology and personal finance.

You can start creating consistent and high-quality content when you have a niche. Video series tend to do well on TikTok, especially because it gives viewers something to look forward to.

When you finish your videos, add sounds, text overlays, and hashtags to make them more visible on the platform. You want your videos to be as short as possible to ensure that people watch them to the end.

Your follower numbers will climb when you get views, likes, and comments. Always engage with your audience, even if you just thank them for their comments. The more you speak to your followers, the more they bond with and trust you. This is crucial for monetization.

Join the TikTok Creator Fund

When you have a loyal audience that supports you, you can join the TikTok Creator Fund. This feature lets you earn money directly from TikTok based on your content's performance.

You must be 18 years old and have at least 10,000 followers to join the fund. This is why having a strong TikTok presence is so important: it is one of the only ways to build a large enough audience.

Moreover, you must also have accumulated 100,000 video views within the last 30 days. And you must always comply with TikTok’s community guidelines.

If you are eligible to join the TikTok Creator Fund, TikTok will pay you based on the number of views you get, engagement rates, and region. You will not get thousands of dollars, but your payouts can increase.

Ideally, you should use the Creator Fund as a supplemental income stream.

Partner With Brands for Sponsored Content

To make more money faster, you should look into sponsored content. If you are a well-known influencer, you will find eager brands who want to partner with you for product promotion.

You can attract partnerships in several ways if you have not worked with a brand before. Firstly, you must have a consistent personal brand on TikTok. This is important because brands want to know who they are working with.

When you approach a brand about a partnership, you must highlight your engagement rates and audience demographics. If you have brand partnership experiences, you can showcase past collaborations within your profile.

The TikTok Creator Marketplace is a built-in TikTok platform that you can use to connect with brands you want to work with.

You can earn a lot of money with influencer posts depending on your follower count and engagement rate. For instance, if you have between 10,000 and 50,000 followers, you can earn up to $500 per post.

If you are lucky enough to have millions of followers, you can easily earn up to $10,000 per post.

Sell Your Own Products or Services

TikTok’s short video format is great for showing off products or services. So, if you have something to sell, doing so on this platform can earn you a lot of money. The best part is that you can sell physical or digital products or offer services.

Some of TikTok's most popular product ideas include hoodies, mugs, and gifts. Digital downloads also do well on the platform, especially e-books or training courses.

If you want to showcase your creative side, there is a strong market for handcrafted goods or artwork.

You can use the TikTok Shop to sell your stuff directly within the app. All you need to do is set up your shop, create shoppable links for your videos, and add product tags.

Earn Money Through TikTok Live Gifts

Sometimes, you do not have to do anything extra to earn money on TikTok. The platform’s TikTok Live option lets you receive virtual gifts from your audience in real time. When you livestream to your audience, viewers can send these virtual gifts simultaneously, and you can convert them into real money.

If you want to use TikTok Live, you must be over 18 and have a minimum of 1,000 followers. To make the most of a TikTok Live session, you should host Q&A sessions or provide tutorials. This type of content keeps your audience engaged.

Remember to thank your viewers for virtual gifts and to respond to their live comments. This will keep them coming back for your future sessions.

Virtual gifts are purchased using TikTok coins, which you can redeem for cash. But TikTok takes a substantial percentage, which is crucial to remember.

Affiliate Marketing

Affiliate marketing is another straightforward way to earn money on TikTok. This option means you promote services or products and then earn a commission on sales via your affiliate link. You can include your affiliate link in your TikTok bio or add it to your videos.

Monetizing Your TikTok Account Is a Realistic Goal

There are several other ways to monetize your TikTok account. This includes partnering with other content creators (duet and stitch, co-hosted live sessions, etc.).

You can also use TikTok to drive traffic to other platforms like YouTube and Instagram, where you can also make money.

Essentially, making money on TikTok boils down to finding the best strategy for you. When you settle on a monetization method, stay consistent with your content, engage with your audience, and keep trying new things to keep the money flowing.