How to Monetize TikTok in 2024: 10 Strategies for Creators to Make Money
TikTok is one of the largest social media platforms, with over 3 billion downloads and 50 million daily active users; TikTok is thriving.
Whether you're an aspiring musician, artist, comedian, or influencer, TikTok presents a massive opportunity to earn real money for those with an entrepreneurial spirit and video editing skills.
If you're wondering how to monetize TikTok in 2024, we have compiled a list of strategies for influencers to earn money from their content.
How Can You Earn Money on TikTok?
To earn money on TikTok, creators can leverage various monetization opportunities, starting with the TikTok Creator Rewards Program, which rewards eligible users with extra income based on the performance of their TikTok videos.
Creators with at least 1,000 followers can also use TikTok Live to engage their audience and receive virtual gifts, which can be converted into real money. Beyond TikTok's built-in features, affiliate marketing and sponsored content are excellent ways to monetize a TikTok account, even without 10,000 followers.
Promoting products with affiliate links, collaborating with brands through the Creator Marketplace, or selling directly through TikTok Shop can drive sales and increase income.
Remember, success hinges on growing an engaged audience by creating authentic, niche-focused content that resonates with TikTok users and attracts both followers and potential brand partnerships.
What about the TikTok Creator Fund?
The TikTok Creator Fund was an app-funded program where TikTok pays creators to produce content on their platform. It was shut down in November of 2023 and replaced by the Creativity Program, which is now known as the Creator Rewards Program.
TikTok's algorithm prioritizes influencers who create original, educational, or entertaining content with many views and engagement. To join the Creator Rewards Program, creators must have at least 100,000 followers, be 18 years or older, meet the required views and engagement metrics, and have a genuine follower base.
While this program is a great way to monetize your content, other methods---which we get into below---are as effective and achievable.
How Much Money Can You Potentially Earn from TikTok?
The potential earnings on TikTok can vary significantly based on the monetization programs you utilize and the performance of your content.
With the TikTok Creator Rewards Program, creators can earn between $0.50 to $8 per 1,000 views, depending on factors like the originality of their content and the type of audience they attract.
This program, launched as a replacement for the TikTok Creator Fund and later the TikTok Creativity Program, has been reported to offer up to 20 times the payouts of its predecessors, with some creators earning as much as $19,000 in four months.
Beyond this, creators can monetize through TikTok LIVE gifts, affiliate marketing, sponsored content, and the TikTok Shop, further diversifying their income.
With payouts scaling based on engagement and reach, the platform offers lucrative opportunities for creators to make money by producing high-quality, niche-focused content.
10 Strategies for Creators to Make Money on TikTok
1. Sell Merch
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Merchandise sales are a popular avenue for creators on TikTok to earn income. You can add a link to your merchandise store in your TikTok bio for your followers to browse through, or with Fourthwall you can connect your Fourthwall shop to your TikTok Shop. Something worth noting is that when selling merchandise on TikTok and other social media platforms, you'll need to balance authenticity and sales. You don't want to come across as a salesperson, but you do want to maximize revenue. Check out how Snazzy Seagull started using Fourthwall to boost her merch sales in our recent blog.
2. Join TikTok Creator Next
Creator Next is a program that TikTok launched to help creators grow their audience and brand. TikTok works with select creators from the program to provide them exclusive opportunities to monetize their content, participate in brand campaigns, and earn money while creating sponsored content. If you're eligible, you can apply and wait for your application to be reviewed and accepted.
3. Partner with Brands
Brands are always looking for content creators to endorse their products. TikTok is a platform that is perfect for creating ads that resonate with the audience, and a large number of brands have harnessed this and collaborated with TikTok creators. If you're interested in partnering with brands, ensure that you have a wholesome follower base who fit into your particular niche.
4. Join Affiliate Programs
Affiliate programs are an excellent way to earn income on social media platforms like TikTok. You become an affiliate partner of a company selling a product or service, and you then use your marketing skills to make money. You earn a commission rate for every sale made through your unique referral link. You'll need to ensure that you promote products that are relevant and align with your brand.
5. Accept Tips or Donations
Some followers are willing to support their favorite creators by sending tips or making donations. Although TikTok doesn't have a feature to send or receive money directly, TikTokers can share their PayPal or Cash App handle with their viewers. Ensure that you provide value to your followers before asking for tips.
6. Crowdfunding
Crowdfunding is a way to raise money to fund a particular project you are working on. You create a short video explaining your project on platforms like Kickstarter or GoFundMe and encourage your followers to donate. Use your storytelling skills to make a compelling case and offer rewards to those who donate.
7. Offer Services
TikTokers can offer their video editing or video creation services for other creators or businesses. You can create videos within your niche and sell them or offer a specific set of editing skills. For instance, creators who specialize in creating tutorials, vlogs or have mastered transitions could sell their services to other content creators or businesses.
8. Live Streaming
Live streaming on TikTok is a new way to earn money. TikTok creators can earn money through live streaming by accepting donations from viewers. Ensure that you provide exclusive perks and shout-outs to your followers who donate.
9. Collaborations
Collaborating with other creators can help broaden your audience and create more opportunities to make money. Collaborations work best when the creators are in a similar niche. You can partner up for content creation or create something for a recurring series. Consider investing in each other's merch.
10. Sell Digital Products
Creators can use TikTok to promote and sell digital products, such as e-books or digital art. For instance, if you're a makeup artist, you can create an e-book that provides your followers with makeup tips, tricks, and tutorials.
Tips & Tricks for Getting Paid on TikTok
- Look for Inspiration in Other Creators: Observe what other brands within your niche are doing and what's working for them. Think about how you can be distinctive and stand out from the rest.
- Be Real and Authentic: Viewers value authenticity and transparency. Don't be afraid to be yourself and let your personality shine through. It's essential to create videos that are genuine and consistent with your followers.
- Don't Forget About Organic Content: Collaborations and sponsored content are beneficial, but it's also crucial to create organic content to foster and maintain your audience base.
- Consistency is Key: Consistently posting content keeps your audience engaged and coming back for more. Make a schedule and stick with it.
- Engage with Your Audience: Respond to comments, ask for feedback, and involve your viewers in your content creation process. Creating a specialized community on platforms like Facebook or Discord to answer questions or discuss your content is an excellent way to increase engagement.
Start Monetizing Your Content with Fourthwall
TikTok is an incredible platform for content creators looking to monetize their content. By following these tips and implementing these strategies, you can start earning real money from your TikTok content. Remember, the key to success on TikTok is creativity, consistency, and authenticity.
If you want to take your monetization to the next level, Fourthwall is here to help. You can use Fourthwall's creator e-commerce platform to launch your site, source products, and start selling personalized merch.
Fourthwall allows creators to display their recent TikTok videos directly on their site’s homepage and show their appreciation by sending supporters a quick video with every purchase made.
Frequently Asked Questions
How Do You Monetize TikTok with 1,000 Followers?
With 1,000 followers, you can start to monetize TikTok by leveraging features like TikTok LIVE, where you can receive virtual gifts from your audience that convert into real money.
You can also explore affiliate marketing by promoting products through affiliate links in your bio or videos, earning commissions for sales.
Additionally, you can use the TikTok Shop to showcase and sell products directly through your TikTok account or tap into sponsored opportunities with brands looking to collaborate with rising influencers.
By consistently creating content that resonates with your niche and engaging with TikTok users, you can build momentum to further promote your personal brand and make money on the platform.
How Do I Claim Money from TikTok?
To claim money from TikTok, ensure your TikTok account is eligible for payouts by meeting the platform's monetization requirements, such as participating in programs like the TikTok Creator Rewards Program, receiving virtual gifts through TikTok LIVE, or earning commissions via affiliate marketing.
Earnings from virtual gifts can be converted into real money and withdrawn through TikTok's payment platform, while revenue from the TikTok Shop or collaborations via the Creator Marketplace is typically handled directly through those channels.
Simply tap into your TikTok wallet under your account settings, link a valid payment method, and follow the steps to collect your earnings and get paid.
Can You Monetize a Personal TikTok Account?
Yes, you can monetize a personal TikTok account by leveraging various tools and strategies available on the platform.
Creators can make money through features like the TikTok Shop, where you can sell products directly or by participating in brand partnerships to promote sponsored content.
Additionally, creating content that aligns with trending topics or niches can attract followers and engagement, making your TikTok account more appealing for monetization opportunities like TikTok ads or affiliate marketing.
By tapping into TikTok's rewards programs and focusing on driving sales, you can turn your personal account into a profitable social media platform.