How To Make Money on TikTok in 2024

local_offer

Despite only emerging internationally in 2017, TikTok is the go-to for entertainment, politics, fashion, and more. The fast-growing TikTok is predicted to surpass two billion users by 2024. The short-form video app has a large Gen Z user base, which offers entrepreneurs marketing potential.

Here are some of TikTok’s top producers and marketers’ tactics for developing your audience with its large user base. Learn how to make money on TikTok with fan merch and paid subscriptions.

8 ways to make money on TikTok

1. Join the TikTok Creativity Program

TikTok Creativity Program users with a large following may make money. Replacement for the TikTok Creator Fund, announced in February 2023 and introduced in May.

As of May 2023, this beta program accepts US creators with 10,000 followers and 100,000 authentic video views in the preceding 30 days. The programme should be offered to more people in coming months.

Eligibility:

  • Registered users must be 18 or older.
  • Minimum following and video view requirements
  • Users must have decent accounts.
  • The Creativity Program is available to TikTok Creator Fund creators.

2. Sell merch

Selling your own products on TikTok may monetize almost any clip. Artists, such as dancers, singers, and comedians, can sell merchandise to their most ardent followers.

Numerous print-on-demand companies offer a wide range of items. Sales may include t-shirts, totes, pillowcases, hats, coffee mugs, stickers, notebooks, or a mix of things.

Selling print-on-demand products has benefits beyond money. Every fan that wears your gear promotes your business and connects with your brand.

3. Go live for virtual gifts

TikTok’s LIVE Gifting tool is great for livestreamers wishing to monetize.

Most social networks offer livestreaming, but TikTok lets fans contribute virtual gifts that can be redeemed for money in real time.

Real-time user engagement builds fan relationships. Go live can improve other monetization streams since audiences with a deep connection to a creative create a personal stake in their success.

Livestreaming lets you promote your internet products. Ecommerce merchants have noticed that TikTok LIVE attracts more buyers than other live features on social media.

The entrepreneur of hair scrunchie company Enchanted Scrunch, Dasha Derkach, increased sales by switching from Instagram to TikTok.

“It has significantly boosted our sales,” she says. After starting TikTok, we got 100 orders a week, up from two before. Today, we perform TikTok Lives virtually daily and get 500 orders a week!”

4. Affiliate partnerships

Creator Marketplace is one of TikTok’s most inventive ways for creators to generate money.

The Creator Marketplace facilitates rapid, uncomplicated connections between brands and influencers. TikTok makes it easy to create meaningful sponsored content.

Brands running an affiliate marketing campaign can rapidly select content from collaborator-friendly producers in the marketplace.

The Creator Marketplace is an influencer agency that lets parties express interest in working together. This reduces the unpleasantness of approaching influencers, something marketers may have faced on other platforms.

TikTok Shop

TikTok Shop offers affiliate connections for TikTok income. Businesses may make shoppable videos and livestreams on TikTok using Shop.

TikTok shop lets you tag things in movies. It naturally draws attention to your product.

Your article can also include product details and Buy buttons to promote your affiliate partner. If your affiliate business is on Shopify, you can integrate with TikTok Shop to allow consumers browse things in the app.

Your audience experiences less friction with TikTok Shop. They don’t need to leave TikTok to learn about your or your affiliate partner’s products.

Enrico Frezza researched skin care product development and founded his own brand after battling with acne and hyperpigmentation. Partnering with TikTok influencers helped the brand create authenticity and revenues early on. Content sales monetized the creators’ accounts.

5. Create in-feed ads

TikTok provides many organic marketing opportunities, but if you’re prepared to spend a little to enhance your content’s reach, consider putting in-feed advertising with the ads manager.

Ads in users’ “For you” feeds auto-play like regular TikTok videos. With paid adverts, you can target product-focused consumers with your films.

The best part? TikTok’s ad management works well with Shopify. Create TikTok advertising, target audiences, and track performance from your Shopify store. TikTok is a powerful online marketing tool.

6. Crowdfund projects

One of the easiest ways for creators to get money is crowdfunding. Offering a simple, no-pressure way for fans to donate can help secure a steady cash stream after the time and effort invested into developing material for them.

Crowdfunding might vary based on the funds you need. Setting a financial target and holding live fundraising events can inspire your fans to raise startup capital for a project.

  • Kickstarter. Kickstarter is the most popular crowdfunding tool online, lending legitimacy to your efforts.
  • Indiegogo. Indiegogo allows you to receive funds after your deadline if you don’t have a fundraising goal.
  • Fundable. Fundable helps entrepreneurs find investors by letting them trade shares for money. Fundable is currently only available in the US.
  • Crowdcube. Crowdcube’s Funded Club gives successful fundraisers exclusive privileges from partner organizations.

7. Collect tips

Tipping platforms make accepting donations fast and easy. Like a tip jar, tipping platforms allow viewers to donate a modest amount to your videos. Fans can donate any amount at any time, but it’s optional.

If this sounds better, try these tipping platforms:

  • Native tipping on TikTok. A button on your profile lets users pay you, making this the easiest way to collect tips in-app.
  • Tipeee. The simplicity of Tipeee makes it strong without subscriptions. Creators can create a Tipeee website where fans can directly “tip” any amount, whenever.
  • Buy Me Coffee. Buy Me a Coffee champions creators over businesses. Similar to Tipeee, its simplicity is its power. Followers are directed to a page where they can buy the artist unlimited “coffees”. Here, “coffees” are $1 PayPal or online banking payments to the artist.
  • Ko-fi. Tips, subscriptions, and commissions for custom tutorials and video chats are available on Ko-fi.

8. Patreon subscriptions

Big projects benefit from crowdfunding, and tipping is the fastest way to raise money. What if you want a steady passive income? Join Patreon, a creator-based subscription service.

Content providers benefit from subscription-based income models because they can keep membership fees low and focus on subscriber growth.

One loyal fan can easily buy a $1-a-month subscription. If you have many loyal admirers, those dollars add up.

Patreon pioneered revenue generation for creators and influencers through premium memberships from their most devoted fans⁠. Set up Patreon membership tiers to provide your greatest supporters special material.

Ko-fi, which also features a tipping component, is an alternative, but Patreon has brand awareness, which builds trust with potential supporters.

If you think a subscription service is the best approach to monetize TikTok, consider these recommended practices:

  • Offer prizes to fans. If they get something worthwhile, audiences donate more.
  • Thank backers personally. Appreciating your fans will keep them supporting your work.
  • Promote your Patreon. Without knowing you accept donations, fans can’t donate.
  • Lower subscription fees. Getting $1 from 50 followers is easier than $50 from one.
  • Create new stuff regularly. Paying audiences demand more content releases.

Who is your TikTok audience?

To profit from TikTok, you must know your audience. Younger people utilize TikTok. A staggering 32.5% of active users are under 20, and 62% are under 30. TikTok’s Gen Z popularity is often its defining feature, but this might change rapidly.

Considering the growing number of millennials joining TikTok, and the fact that social networks are first popular with teens, catering to older users could provide a significant advantage in the future.

There’s no one-size-fits-all TikTok strategy, but identifying your audience will help you monetize your following.

Always put content first

Using social media to market things requires careful promotion.

Your fans know you need financing to keep making their favorite content, but no one wants to follow an account that continuously advertises.

This is especially true for TikTok, which emphasizes personal connections with your audience.

Users want good content, thus “content-first” may assist. Instead of constructing content around your sales pitch, start with content creation and let it drive monetization strategies.

Parade, a sustainable underwear firm, succeeded by targeting millennials and Gen Z on TikTok. Parade’s growth marketing manager, Darya Dziadzenka, concluded that authentic TikTok marketing content prioritises relevancy and fun over sales.

Creators of TikTok should make their content as organic as possible, according to Darya.

TikTok postings should benefit your audience, not just sell. Partly Sunny Projects, an online plant company that ships California greenery nationwide, is another example.

Sonja Detrinidad began the business on TikTok to escape her day job. TikTok users quickly fell in love with Sonja’s charisma. Her authentic TikTok videos match viewer interests.

Sonja’s business success on TikTok is due to her concentration on providing material viewers like. Sonja’s gardening posts attract the type of follower who can become a customer.

How to make money on TikTok FAQ

Yes! With proper tools and approach, anyone can make money on TikTok. Look over the tips above and choose the best ones to make money on TikTok.

The most successful TikTok users make money from sponsorships, fundraisers, product sales, and tips. TikTok users can promote products using affiliate links to earn paid by sponsors. Creator funds allow larger TikTok accounts to make money.

Video producers and uploaders are not paid by TikTok. TikTok is sponsoring creators through its Creativity Program. Still, video views, engagement rates, and post authenticity affect payment.

Brands may pay prominent micro-influencers for video creation, but TikTok’s top users typically generate numerous income streams⁠. Your audience is the largest component in how to make real money on TikTok, but multiple income streams provide more stability.

These TikTok users earned the most in 2022, according to Hopper HQ:

  • 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)
  • Addison Rae, $65,194 per post (88.7 million followers)
  • Will Smith, $53,741 per post (72.1 million followers)
Previous Post
Best Google Certification Courses in 2024 (Free & Paid)
Next Post
The Power of Reminder Advertising in the Digital Age