How to make money on TikTok in 2024

With over a billion users in 2024, TikTok has quickly become one of the most popular online social channels in the world. It’s no surprise when you consider the opportunities it creates for people to laugh, learn - and make a lot of money. 

Whether you’re a seasoned content creator or just getting started, there are plenty of ways to earn on the app. It’s just a question of being creative, staying consistent, and getting your strategy right. 

Strategies for monetising TikTok

Let’s break down how you can turn your own TikTok account into a money-making machine:

1. Post consistent, high-quality content to grow your following

First things first, you need an audience. After all, the more followers you have, the more opportunities you’ll have to earn money. 

The question is: how do you reach new people and build a decent following? When it comes to how TikTok’s algorithm works, the platform is famously secretive. However, one thing that seems to impact content creators’ success is how regularly they post. With TikTok, consistency is key, so try to post at least once a day if you can. 

It’s a good idea to use relevant hashtags and jump on trends (such as dances or trending challenge videos) to increase the likelihood of your videos being seen, but what’s more important than anything else is that you focus on making videos you enjoy and that feel authentically ‘you’. 

Are you a naturally great storyteller with some hilarious anecdotes to share? Or are you truly gifted at putting together outfits or creating makeup tutorials? Maybe you’re an avid reader or super knowledgeable about interior design? Whatever you love, there’s a niche for it on Tiktok.

It might take some time to find out what you truly love creating content about - and what really resonates with your audience - but the great thing about TikTok as a platform is that every so often, success seemingly can happen overnight. Once a few of your videos have attracted enough engagement, TikTok will start pushing you out on more people’s ‘For You’ pages. And if you post high-quality content for long enough, there’s no reason you can’t have a viral hit.

As your following starts to build, remember to keep interacting with your followers. Respond to comments, engage with other creators’ videos, and reply to your followers’ video requests wherever possible. The more you engage, the more loyal your followers will become.

2. Join TikTok’s Creator Fund

Once you’ve built a decent following, you can apply to be part of the TikTok Creator Fund. This program pays you based on the number of views your videos receive, with the pay currently sitting at around $0.02 to $0.04 per 1,000 views. It may not sound like much, but remember that as you continue to scale your platform, this can really add up. 

Of course, the more engaging and high-quality your content, the more views you’ll get. Which means more money from TikTok.

To meet the fund’s eligibility criteria, you need to:

• be at least 18 years old,
• have a minimum of 10,000 followers,
• and have received at least 100,000 video views in the last 30 days. 

3. Leverage brand partnerships and sponsored content

Brands are always on the lookout for influencers to promote their products. So, once you’ve started building a sizable following, it’s a great idea to start collaborating with brands on sponsored content. 

This might mean reaching out to brands directly and sending them a pitch explaining why you’d be a great fit to sell their products. Or, you might want to consider signing up for platforms like Influencity or TikTok’s Creator Marketplace to connect with relevant brands. 

Just remember that when you’re promoting products on your TikTok, it should always feel genuine and resonate with your audience. No one likes an ad that feels forced, and being authentic is what will keep your followers’ trust. 

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4. Consider selling your own products

If you have your own products or merchandise, TikTok can be a powerful platform to promote and sell them. The visual nature of the platform means it’s easy to show off your creations in a fun and engaging way. Through tutorials, behind-the-scenes videos, and even resharing user-generated content.

You can also use the link in your bio to direct followers to your online store, use TikTok Shop to make shoppable videos, and partner with other TikTokers to spread the word to more potential customers.

Learn more in our recent article: Is selling on TikTok shop worth it? 

5. Make the most of TikTok LIVE 

Going live on TikTok is a great way to connect with your followers in real time. Not only can your followers ask you questions and leave comments that you’ll see immediately, but they can also send you virtual ‘gifts’ like roses, confetti, and even disco balls which you can then convert into real money. It’s a great way for you to earn instantly - and a fun way for your followers to say thank you for the great content you make.

So, if you’re interested in trying live streaming out, schedule a few TikTok LIVEs to chat with your followers in real time. It could be a chat, a live Q&A session, a tutorial, or even a performance. Just make sure you’re giving people something they’ll want to reward you for!

6. Join affiliate programs

Affiliate marketing is another great way to make money on TikTok. By encouraging your followers to click on affiliate links and earning a commission on sales, you can help them find their next obsession while earning more money for yourself. 

You could make honest, engaging reviews or tutorials featuring the products you’re promoting, or weave affiliate links to products into your bio and videos to naturally promote the things you’re wearing or using in videos - even when they’re not the main event. 

As we mentioned earlier when talking about brand collaborations, remember to promote products that align with your niche and that you genuinely believe in.

7. Offer a paid subscription

TikTok has just rolled out a subscription feature for live streams that lets you offer exclusive content to your followers, who can opt in by paying a monthly subscription fee, which you’ll then earn a portion of. To be eligible, you just need to be 18 years old and have at least a thousand followers. 

Your followers that subscribe will get access to benefits like exclusive badges (that make them stand out from everyone else in your chat) and special shout-outs from you during your live sessions. So, if you love doing live streams and have an audience that loves watching them too, this is a fairly simple way to make more money on TikTok. 

8. Keep adapting to what your followers want

To make money long-term on TikTok, it’s important to keep your content fresh and engaging. Don’t be afraid to try out new features and trends to see what resonates with your audience, and watch what other successful creators are doing to learn from their strategies and get inspired by their content. 

Of course, this doesn’t mean you need to or should copy anyone else. Going back to step one, your originality and unique content are what’s going to make you stand out from the crowd and make your followers look forward to your content. It’s just worth bearing in mind that TikTok is a super trend-oriented place, and when you’re feeling a bit stuck for ideas, there are likely a few relevant trends going around that might inspire your next short video!

Ready for the TikTok hall of fame? 

Making money on TikTok has never been more accessible, and we hope this article has given you some ideas for how you can turn content creation into a powerful money-making tool. 

Remember, TikToking isn’t a form of passive income. It’s going to take a lot of hard work, consistency, and dedication to keep making money on TikTok, but you can have a lot of fun along the way. So get out there and start creating! 

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