Eight Tried-and-True Ways to Earn Money on TikTok in 2024

 

TikTok is becoming the go-to source for information on trends in politics, fashion, entertainment, and other fields, even though it only began operating abroad in 2017. TikTok is a powerful app that is predicted to have two billion users by 2024 and is expanding year after year. An enormous number of Gen Z users have been drawn to the short form video app, which presents a significant marketing opportunity for business owners.

Here are some tips from some of the best marketers and producers on TikTok for expanding your audience through the platform's enormous user base. Learn how to monetize your TikTok account with premium memberships and fan merchandise sales.

8 methods for TikTok money making

Gaining a deeper grasp of your target demographic makes deciding how to monetize TikTok users easier. Although there isn't a single best way to monetize a product, the wealthiest people typically have several supplementary revenue sources. With TikTok, there are countless avenues for marketing, including sponsored content and organic promotion.

8 methods to begin earning money on TikTok

1. Sign up for the TikTok Creative Program

Users that have amassed a sizable following may want to think about earning money via the TikTok Creativity Program. This initiative, which was unveiled in February 2023 and went live in May, takes the role of the TikTok Creator Fund.

This init- Accounts for users must be in good standing.
iative, which is currently in beta as of May 2023, is open to US-based producers who have at least 10,000 followers and 100,000 real video views in the last 30 days. In the upcoming months, more individuals should be able to access the software.

Availability:

- To register, users must be at least eighteen years old.

- Users need to have a minimum number of followers and views on their videos.

- Accounts for users must be in good standing.

- Artists can upgrade to the Creativity Program if they are currently registered in the TikTok Creator Fund.

2. Retail goods

You may monetize almost any kind of entertainment on TikTok by selling your own merchandise. Artists—dancing, singing, or comedic—have the ability to create and market merchandise to their most devoted followers.

There is also an abundance of items to select from because to the large range of print-on-demand firms available on the market. You could offer any mix of goods, such as notebooks, stickers, coffee mugs, tote bags, pillowcases, caps, and t-shirts.

There are also advantages to selling print-on-demand goods outside financial gain. Having branded merchandise allows your supporters to relate to your personal brand more deeply, and each follower who dons your merchandise promotes your company.

3. Go live to receive virtual presents.

One of TikTok's best services for content creators trying to make money from livestreaming is LIVE Gifting.

While livestreaming is available on several social networks, TikTok stands out because it lets fans express their gratitude in real time by exchanging virtual presents for real money.

Real-time user interaction is a terrific way to develop lasting ties with your audience. Going live can help increase other revenue sources as well since audiences that have a deep connection to a creative often get personally invested in their success.

A good way to display your products whether you make them or sell them online is through livestreaming. Compared to live features on other social networking applications, TikTok LIVE is generating greater attention from customers, according to many e-commerce businesses.

For example, Dasha Derkach, the creator of Enchanted Scrunch, a hair scrunchie company, noticed a big spike in sales after moving her Instagram social media marketing to TikTok.

She claims, "It has greatly increased our sales." "We received around two orders a week prior to TikTok, and about 100 orders a week after we launched. We now perform TikTok Lives virtually daily and receive 500 requests a week.

4. Affiliate collaborations

Through its Creator Marketplace, TikTok offers its creators one of the most creative avenues for financial gain.

The Creator Marketplace makes it quick and simple for both sides to form relationships by matching the appropriate influencers with the right companies. Important sponsored content may be easily created using TikTok.

When a brand wants to launch an affiliate marketing campaign, it can easily navigate the marketplace and get content from producers that they know are willing to work with them.

As an influencer agency, the Creator Marketplace allows parties to express their interest in collaborating. This lessens the uncomfortable feeling that marketers could have had when contacting influencers for influencer marketing on other platforms.

 

TikTok Store:

TikTok Shop offers an additional avenue for earning money on TikTok through affiliate connections. TikTok's in-app shopping tool, Shop, enables business account holders to make shoppable videos and livestreams.

You may tag goods in your films that they appear in using TikTok store. It's an organic approach to get your audience to pay attention to whatever you want to advertise.

Additionally, you may use Buy buttons and product details in your article to encourage readers to visit your affiliate partner. You may immediately connect with TikTok Shop to allow users to browse things from within the app if your affiliate company is managed through a Shopify store.

Features in TikTok Shop ease the friction for your audience. They may now learn more about your items and those of your affiliate partner without leaving TikTok.

💯 Try Shopify Collabs if you're seeking for a simple method to manage your brand collaborations, create affiliate links, and locate businesses to collaborate with all in one location.

Like many successful companies, Peace Out Skincare was founded by its creator in response to a problem for which there was no existing solution—until he came up with one.

Enrico Frezza began studying the process of developing his own line of skin care products after battling several skin conditions, including hyperpigmentation and acne. The company gained early momentum by collaborating with TikTok influencers to increase sales and establish credibility. The participating creators made money off of their accounts by getting compensated for their work.

5. Produce adverts within feeds

Although TikTok offers a ton of fantastic organic marketing options, if you're ready to invest a little money to increase the visibility of your content, you might think about using the TikTok advertising manager to create your own in-feed advertisements.

Similar to other TikTok videos, TikTok adverts show up in viewers' "For you" feeds and automatically play. You can guarantee that the people who are most interested in your items are seeing your videos by using sponsored advertisements.

The greatest thing, though? Shopify and TikTok's ad management work together flawlessly. This implies that you may make TikTok advertisements from your Shopify business, choose a target market, and monitor the effectiveness of your advertising. One of the most effective options for internet marketing is TikTok.

6. Crowdfunding initiatives

For creators, one of the easiest ways to get money is through crowdfunding. Since you devote a lot of time and energy to producing material for your followers, providing a simple, no-hassle method for them to give back is a terrific approach to ensure a steady flow of cash.

Depending on the kind of cash you're after, crowdfunding might take many different forms. You might mobilize your supporters by establishing a financial target and holding live fundraising events if you're seeking for first money for a certain project.

These are some crowdfunding websites to check out if you're trying to raise money for a certain project:

- Kickstart. Kickstarter is the most popular and well-known crowdfunding platform on the internet, which lends legitimacy to your fundraising efforts.

- On Indiegogo. Indiegogo allows you to collect contributions after your deadline and gives a more flexible fundraising objective, so it can be preferable if you don't have a specific fundraising aim.

- Payable. Fundable is an excellent tool for companies looking to attract investors since it allows them to offer stock in return for money. However, users may only access Fundable within the United States at this time.

- Crowdcube. Through its Crowdcube Funded Club, Crowdcube provides businesses who meet their fundraising targets with exclusive advantages from its partner organizations.

7. Collect tips

Use a tipping platform if you're looking for a quick and simple solution to take donations. Tipping platforms function similarly to an actual tip jar, allowing viewers to express their gratitude with a little gift if they enjoy your films. Fans are free to choose to give at any time and in any quantity, and it is not required of them.

If you think this sounds more tempting, you should check out these fantastic tipping platforms:

- The native tipping function on TikTok. This is the simplest method for getting tips in-app; users may tip you by tapping a handy button on your profile.

- Quickie. Although Tipeee doesn't provide memberships, its simplicity is a plus. Creators may create a page on Tipeee where fans can directly "tip" them any amount at any time.

- Buy Coffee for Me. Buy Me a Coffee takes pride in being designed with creators rather than corporations in mind. Its simplicity, like Tipeee, is its power. Fans are directed to a page where they may buy the creator as many "coffees" as they'd like. In this instance,"coffees" are $1 payments sent to the developer using internet banking or PayPal.

- Kudos. In addition to memberships and tips, Ko-fi provides means to pay users commissions for customized content, such as a unique video chat or instruction.

8. Subscriptions to Patreon

Large projects can benefit from crowdfunding, and tipping is the easiest and fastest way to raise money. However, what if your goal is to establish a more consistent passive income source? Consider using a creator-based subscription service such as Patreon.

For content providers, subscription-based revenue models are ideal because they allow them to concentrate on increasing their subscriber base while maintaining low individual membership fees.

To one devoted fan, a cheap subscription of, say, $1 a month is an easy sell. These cash pile up if you have a large following of devoted admirers.

The first sizable network designed to enable influencers and creators to make money from their most devoted followers through premium memberships was Patreon. You may create membership tiers on Patreon that let you give your greatest fans access to special material.

While there are alternatives (like Ko-fi, which also has a tipping element), Patreon has the advantage of being well-known, which increases the amount of confidence that potential supporters are willing to provide.

Here are some recommended practices to consider if you believe that offering a subscription service would be the most effective method to make money off of your TikTok account:

- Offer incentives to entice your audience. If audiences receive something valuable, they are inclined to raise their donations.

- Thank your backers outright. Give your supporters a sense of appreciation, and they'll be more inclined to continue promoting your work.

- Emphasize your Patreon profile. If your fans are unaware that you are taking donations, they cannot contribute.

- Limit the cost of subscriptions. Getting $1 from 50 followers is simpler than getting $50 from just one.

- Regularly provide fresh material. There is a greater expectation from paying audiences about the frequency of new content releases.

Referral scheme TikTok Rewards

In exchange for TikTok Rewards points, all current TikTok users who satisfy the minimum age criteria can recommend new users to the program.

How do TikTok Rewards work?

TikTok Rewards are virtual points that you can get from viewing, making, and engaging with videos, as well as by encouraging others to sign up for the app.

At a rate that varies depending on where you live, rewards can be exchanged for modest sums of cash. You may transfer your profits to a PayPal or bank account once you've built them up. Rewards may also be exchanged for items like mobile top-ups and discounts in some countries.

To find out how many TikTok Rewards points you can earn and which tasks your suggested user may do to earn extra points for both you and them, visit the Task Rules page on your app.

How function do referrals on TikTok?

Go to Profile and select either Discover or For You to get a referral code. In the top left corner of the screen, tap the coin icon after tapping the TikTok Rewards banner. An invitation code and referral link ought to be visible there.

Following that, you and the user you recommended must do the following actions:

1. Ask a new person to sign up for the platform.

All you have to do to start earning rewards from TikTok's referral program is invite a friend, family member, or coworker to download and utilize the app.

2. After creating a profile, the new user inputs the invitation code.

Your buddy has to go to their profile and click the symbol next to their name after downloading and opening TikTok. They can input the referral code you sent them there.

Note: In order for your friend to get invitation rewards points, they must input the referral code within 24 hours.

3. Optional: In order to get extra prizes, the new user watches videos.

Both you and new users will receive more Rewards when you view movies through the Activity page. Depending on their area, users must watch a different number of videos in order to receive Rewards, although TikTok advises viewers to watch videos for a few minutes each day beginning the day after a referral code is submitted.

As time goes on, submitting videos and engaging with content will also earn points for new users.

Note: In order to be eligible for Rewards, the new user must view videos within the time frame displayed on the Activity page.

Your TikTok audience: who is it?

You must identify your TikTok audience if you want to profit from them. Additionally, users on TikTok tend to be younger. Sixty-two percent of users are under thirty, while thirty-two percent of active users are under twenty. TikTok's appeal to Generation Z is often seen as its defining feature, but this might swiftly alter.

Given that millennials are increasingly using the platform and that adolescents are often the ones that utilize social networks when they first start, it might be advantageous for you to target TikTok's older user base early on in the company's life.

While there isn't a one TikTok strategy that works for everyone, knowing your audience well can help you identify the most profitable methods to grow your following.

Content always comes first.

It may be challenging to use social media to promote things without going overboard.

Although your followers are aware that you must continue to raise money in order to provide the amazing material they like, nobody wants to follow an account that appears to be always promoting itself.

This is particularly true with TikTok because the app is designed to help you build a personal relationship with your viewers.

Users like quality content, therefore putting "content-first" could be beneficial. Create the content first and let it inspire the greatest ways to monetize your account, instead of starting with your sales pitch and creating the material around it.

This strategy was effective for Parade, a sustainable underwear brand that made a name for itself by using TikTok to advertise to millennial and Gen Z consumers. Darya Dziadzenka, the growth marketing manager at Parade, discovered very fast that the most successful TikTok marketing content is genuine; it puts comedy and relevance ahead of trying to close deals.

TikTok producers are advised by Darya that "making the content as organic to the platform as it can be" is the key to success on the site.

Your TikTok content should benefit your audience rather than merely try to sell it to them. Partly Sunny Projects, an online plant company that ships California greenery throughout the nation, is another excellent illustration of this strategy.

Using TikTok as a platform, founder Sonja Detrinidad documented the process of starting the firm as a diversion from the pressures of her day job. The fascinating charisma of Sonja quickly won over the hearts of TikTok viewers. The interests of her viewers are reflected in her genuine TikTok videos.

Sonja's concentration on producing material that she knows her audience would appreciate is what makes her use of TikTok for business so effective. Sonja writes on gardening-related subjects and does a great job of drawing in followers who are potential customers.

Embrace the creative economy

Artists used to be the only types of creators. They are CEOs, founders, accountants, marketers, salespeople, artists, and all in between. Stars in the creator economy are self-made, driven by their own inventiveness, enthusiasm, and drive to create something original.

For artists, time equals money, and increasing the revenue from your work allows you to produce more work. If the money doesn't seem like enough, the additional time it purchases will. One of the numerous sites that allows producers to earn money online is TikTok. Get compensated for doing what you already do best.

FAQ: How Can I Make Money on TikTok?

Can I make money on TikTok?

Sure, If one has the proper resources and a winning plan, anyone can profit from TikTok. Look at the advice provided above if you want to make money on TikTok, then start deciding which tactics work best for you.

On TikTok, how do producers get revenue?

The wealthiest TikTok users get income from a variety of sources, such as product sales, fundraising campaigns, sponsorships, and tipping. Users of TikTok may also earn money directly from sponsors while promoting items using affiliate links. With initiatives like creator funding, larger accounts on TikTok might potentially make money.

Do you receive payment from TikTok for your video uploads?

Creators are not paid by TikTok directly to make and post videos. Artist financing is available from TikTok through the TikTok Creativity Program. Payment is contingent upon many parameters, including but not limited to the quantity of video views, engagement rates, and the genuineness of users interacting with the post.

Although marketers occasionally pay well-known micro-influencers to make videos, the majority of TikTok's highest-paid users monetize their accounts via a variety of revenue sources1. When determining how to make real money on TikTok, your audience is the most important consideration, but having many revenue streams also offers more stability.

On TikTok, who earns the most money?

Hopper HQ reports that the following people made the most money on TikTok in 2022:

- Charli D’Amelio, $105,770 per post (147.6 million followers)
- Khabane Lame, $92,270 per post (150.2 million followers)
- Bella Poarch, $66,829 per post (91.1 million followers)
- dison Rae, $65,194 per post (88.7 million followers)
- Will Smith, $53,741 per post (72.1 million followers)

On my TikTok account, how can I receive payment?

The strategy you use to monetarily support your TikTok content will determine how much you get paid. Generally, the app you use to monetize your content will pay you; this might be a tipping platform, crowdfunding website, TikTok's own Creativity Program (previously Creator Fund), or your own online store platform (if you sell merchandise or your own items to your followers).