How to make money on TikTok - 7 ways (2024)

How to make money on TikTok

Let's take a detailed look at the best ways to make money on TikTok. Keep in mind that the amount of money you're going to make depends on a variety of factors that I'm going to cover below.

1. Get paid through the TikTok Creators Fund

The TikTok Creator Fund is how TikTok supports and rewards innovative creators on its platform. This is the app's latest initiative aimed at making it a must-have platform for user-generated content.

Like other platforms, the TikTok fund for creators does not depend on the advertising model. On the contrary, the amount of your fund increases as your channel and content grow. It also depends on factors like actual account views, the region of your viewers, and more.

And because content engagement on TikTok is dynamic and changes day after day, your funds will also change on a daily basis.

You need to meet certain requirements to participate in the program, including:

• You must be 18 years of age or older.
• Have a minimum of 10,000 authentic followers.
• Get at least 100,000 authentic video views in the last 30 days.
• Based in the United States, the United Kingdom, Germany, Italy, France, and Spain.
• You should post original content that is in line with the TikTok community guidelines.

You also need a Pro account to apply for the Creators Fund program.

You can apply for the program by going to your account settings, then clicking on the Pro Account option, and finally on “TikTok Fund for Creators.”

If you get paid, it will appear on your Creators Fund dashboard approximately three days after your video has accumulated views.

And you can transfer your funds ($10 minimum) to PayPal or Zelle 30 days after the end of the month.

However, despite all the hustle and bustle surrounding the program, it doesn't allow TikTokers to make a lot of money.

For example, Anika, a TikTok creator with over six million views and one million likes, was only able to raise around 200 dollars in about five months.

The TikTok Creator Fund can help you earn enough money to buy Christmas gifts similar to money-making apps, but that won't be enough to pay off your college debt.

That doesn't mean you can't make a lot of money with TikTok. It is entirely possible. You can partner with sponsors, promote brands, receive virtual gifts, etc. Which brings us to the next point.

2. Receive donations for your lives.

One of the many ways you can make money on Tiktok is to receive donations from your followers/viewers. The operation is similar to Twitch, where your fans donate money to enjoy your live stream.

As a creator, you can activate the Live Gifting option during a live stream on TikTok, get rewarded in real time, and redeem your rewards via PayPal.

However, there is a slight difference.

Instead of cash, TikTok offers several in-app coins that viewers need to buy before giving them away to their favorite influencers.

They can find the coins in their Settings >> Balance >> Recharge tab.

The next step is to exchange these coins for virtual rewards.

Each award comes with a large number of attractive options. They also have different values and require a different quantity of coins.

Here's a list of the rewards you can get for in-app coins:

Note that only users who are 18 years of age (or the age of majority in your jurisdiction) or older can send or receive these rewards.

Viewers can also send stickers directly during the live stream without having to buy the coins.

Here are some of the stickers you may receive:

Now, if your viewers like your content, they can start sending you gifts during your LIVE broadcast. The gifts will show up on your screen for everyone to see.

As small as the gift may seem, it's nice to have someone send you a message recognizing your work.

Remember to wink every time you receive a gift to connect with your audience. If your fans feel appreciated for their action, they are likely to talk to others about it, which will help you increase your popularity.

Even a simple heartfelt “thank you” is enough.

At the end of your stream, you'll be able to see the total number of gifts you've received. You can easily see your balance in the “Balance” tab in your account settings area.

Depending on your popularity, you will receive “diamonds” (virtual credit) in exchange for gifts. They will also take into account the number and type of gifts. In general, a diamond is equivalent to 50% of a piece.

Finally, you, as the creator, can exchange these diamonds for real currency.

It may seem like little money at first. But the more donors you have, the more donations you get, which can add up to a significant amount.

3. Establish partnerships with sponsors and brands.

Because of its popularity, brands and advertisers are willing to pay large amounts to creators to promote their products on TikTok.

Most brands contact creators through their agents, especially if the creator is already viral on TikTok.

But there's a way for creators to make money directly from advertisers: the TikTok Creator Marketplace.

TikTok is the only social network that offers an integrated program for content creators.

The Creator Marketplace is an official collaboration platform for brands and creators on TikTok. It allows innovative content creators to partner with brands for paid campaigns.

You promote the brand and attract customers by mentioning it or using the product in your video. Then, you get paid in exchange for publishing sponsored content.

The creators' market allows brands to search for creators and see your profile, the number of followers, audience demographics, essential engagement metrics, and more

Unfortunately, there's no way for creators to search for brands they could collaborate with. Only a brand-oriented version is currently available.

But before collaborating with brands, you need to meet specific eligibility criteria (based on age, video content, followers, and engagement). You should also start by switching to a Creator account.

Once you have met all of these requirements, you will be invited by TikTok to register or apply.

After joining the Creator Marketplace, go to your settings, click “Creator Tools,” and then click “TikTok Creator Marketplace.” This is where you can manage your creator profile. Be sure to edit your profile and set your rate for sponsored videos to get noticed by brands.

Once you're famous, you can earn a significant amount of money for your content.

It's hard to predict potential earnings, but celebrity creators win between $500 and $20,000 per video.

However, keep in mind that TikTok doesn't allow you to accept payments from brands directly on its platform. You need to arrange payments directly.

Once you reach a certain level, it's not the only platform where you'll make money. Some particularly famous TikTok stars are making the rounds on the internet and collaborating with brands on Instagram as well.

4. Managing influencers.

TikTok is one of the biggest rising platforms for influencers. And there are lots of influencers out there who are ready to create great jingles and lives about brands.

But not everyone wants to go viral on the internet. You may be afraid of cameras or simply wary of the scrutiny that is an integral part of being a celebrity. If that's the case with you, you can earn money by managing influencer campaigns.

One of the best ways to do this is to become an intermediary between brands and influencers. Your job will be to manage relationships between brands and influencers, as well as brokers or agents.

You will be in charge of all agreements, activities, transactions, negotiations, and payments. In addition, you will need to ensure that everyone respects their part of the contract.

Your job is to be able to handle all of these tasks without a hitch. And in the end, you benefit from a service commission resulting from the brand agreements that you conclude between creators and brands.

Additionally, you can start your own TikTok agency, where you can also help creators shape their careers. As an agency, you will also manage the public profile and personality of your artists and avoid any faux pas.

Here's how you can get started with your own influencer agency:

Plan and build your website.

Start by drawing up a business plan and create your website to appear professional in your field. Your website should be both professional and trendy. After all, all influencer marketing activity is nothing but trendy.

It should also specify the type of influencers you work with and what you have in store for creators and brands.

And above all, get the official rights to create your agency to protect your privacy and legal rights.

Look for influencers in different niches.

Once you've finished legalizing your agency, it's time to look for influencers in different niches. If you need creators in different sectors, it's to meet the needs of different brands. Most brands will naturally prefer creators across their core demographics.

For example, if a sports brand contacts you, it will prefer to work with an influencer in the field of fitness or sports.

Luckily, you can spot influencers in different niches using TikTok's influencer search tools.

Take the example ofInfluenceGrid.

The tool helps you discover different performers based on their country, subject, niche, engagement rate, number of followers, average number of videos viewed, etc.

The TikTok Creator Marketplace, a tool built into the TikTok app, is also a great place to look for relevant creators.

Finally, you can draw up a list of influencers by specifying their niche on your website.

Here is a example taken from an influencer website :

You may not be able to spot high-profile celebrities and influencers at first. So start by collaborating with micro-influencers and working to develop their careers and help them go viral on TikTok.

Once you gain more experience and build a successful career, you can achieve greater reach by adding more creators to your network.

Develop your team.

There is no reason for you to do everything yourself.

If you think you can carry out your plan more effectively than by contacting brands and creators, hire someone to do it for you.

There are tons of things to do, including designing the website, creating Tiktok content, managing legal documents, etc. That means you need to hire a manager, accountant, marketing experts, and a web developer.

Do not hesitate to hire the best possible options for the positions concerned. A good team is the key to building and growing a successful business.

Diversify your influence platforms.

One of the best aspects of creating an influencer digital marketing agency is that you don't have to stick to just one platform. Outside of TikTok, influencer marketing campaigns work similarly when it comes to social media marketing. This also includes social networking sites like Instagram, Snapchat, and YouTube.

Brands are looking for relevant influencers, and influencers promote their product or brand in return. Naturally, your work as a TikTok consultant will stay the same, more or less.

And you'll notice that most TikTok influencers already have a strong presence on other social media platforms.

So once you've acquired a TikTok influencer pool, you can also ask them to promote brands across various channels. This will help you grow and diversify your income stream.

And if you look at all the top influencer marketing agencies, they all market their own influencer networks for TikTok, YouTube, Snapchat, Instagram, and more.

Here is theFanbytes example, one of the largest influence agencies:

5. Sell your own products on TikTok.

You can generate revenue from your TikTok channel by creating indirect TikTok ads that sell merchandise or other products on the platform. It's another self-resistant revenue model similar to building your influencer agency.

Offering your products on TikTok means accessing a diverse audience, mainly composed of Generation Z and millennials. Together, these generations have a purchasing power of around $150 billion in the United States alone.

It's an incredible potential to exploit.

First, you need to make your products available to as many viewers as possible.

One of the ways to do this is the TikTok Hashtag Challenge Plus.

The concept is similar to that of user-generated content, which involves engaging your audience to create and share content that showcases your product. The only addition is the “shoppable” hashtag, which allows interested buyers to buy the product within the app itself.

TikTok also creates a landing page for you that potential buyers are directed to after clicking on the hashtag. The hashtag will also appear on the discovery page, helping you attract more customers.

Kroger, an American retail chain, was the first brand to try out the Hashtag Challenge.

They used four influencers to encourage more and more TikTok users to share their dorm room transformation videos with the hashtag #TransformUrDorm.

The campaign ended up generating more than 477 million video views and hundreds of thousands of UGC video creations.

Kroger has even created a “shoppable” brand page, where users can discover and buy their products - within the app.

Creating a UGC campaign is likely to inspire more trust in your target audience than ordinary ads, encouraging them to buy your product.

If you have an e-commerce site, you can also add your site link in your bio.

If you don't have a specific product to sell, you can even create your own merchandise and sell it to your fans. It can be anything, T-shirts, mugs, sweatshirts, etc.

The idea can work like a charm, especially if you already have a growing audience on the platform.

Thanks to the upcoming partnership between TikTok and Teespring, you won't even have to worry about the design, manufacturing, sourcing, and shipping process.

A collaboration with Teespring will even allow your viewers to buy your products within the TikTok app itself.

Until then, you can turn to several other print-on-demand (POD) platforms on the Internet if you want to sell your own products on TikTok.

Here are some of the POD platforms you can use if you want to sell your merchandise:

• ShopBase
• Printing house
• Oberlo

These platforms help you cover every part of the process, including dropshipping, printing, manufacturing, and more.

6. Develop and sell TikTok accounts

Social media account hijacking is not a new way to make money.

Many people are already doing this on social networking sites like YouTube, Instagram, Twitter, and Snapchat.

You'll need to grow a Tiktok account by getting a significant number of TikTok followers and ongoing engagement. And once you reach a specific number, you can connect with brands and individuals who may need a profile in this niche.

I suggest that you build your account around a specific theme because they're easier to sell. Brands that are not willing to develop their profile from scratch can easily resume it. And their viewers might not even notice this takeover.

For example, if you create a fashion profile, any fashion brand could buy it from you. It's also easier to advertise such niche profiles than generic profiles with regular dances and skits.

Brands or people looking for niche profiles will naturally look for specific terms, which could lead them to your page.

You can also create a website to advertise your profiles and connect with interested buyers. You can also sell them on third party marketplaces like Fameswap.

Here are some of the TikTok profiles that are on sale:

By looking at this list, you can deduct the approximate sales price based on the number of followers. Naturally, the more followers you have, the more money you can earn.

However, there may be several variables involved other than the number of followers.

While there's no official information about it, here's what you can earn by returning TikTok profiles:

• 1-13k followers = ~ $100
• 13-50k followers = ~ $100-$500
• 50-100k = ~ $500-$1000
• 100-500k = ~ $1k-5k
• 500k-1m+ = ~ $1k-30k

7. Start your own musical or artistic career.

If you want to show off your talent and get the attention of a credible agency, TikTok is the place to be.

The social media platform can be a springboard to immense international fame and recognition.

Think Addison Rae.

She performed well on all other platforms — even better than on TikTok — and is now a household name in the United States. The influencer was also invited by the famous talk show host Jimmy Fallon and recently even landed her own show on Netflix.

And that's not all, his recently released song got 10th place in the latest editions of New Music Friday and Pop Rising on Shopify. And if you believe the Recent Forbes report, she earns about 5 million dollars a year.

And she is not alone.

TikTok can take credit for more than a few success stories from teens like Addison.

The growth trajectory that can be achieved from social media platforms like TikTok is nothing short of amazing.

You can launch any career you want with TikTok. You can present your cooking or pastry skills, your singing skills, your acting skills, your comic genius, etc.

Your content could be seen by a producer, or someone equally important, which could help you land a life-changing contract.

And being noticed by someone eminent is not even that important. You can simply become famous and start earning money on your own, without being spotted by an agency.

Start by going viral on TikTok, then plan your transition toother platforms like YouTube and Instagram. You can then start publishing your content across multiple retail outlets, allowing you to further expand your audience base and revenue streams.

You already have three essential elements to become a famous artist: a relevant audience base, digital publishing points, and a steady stream of revenue.

How do you develop your TikTok profile?

The first step to making a lot of money on TikTok is to go viral on the platform.

Whatever monetization model you plan to use (except opening your influencer agency), you first need to develop your audience base. The more viewers you have, the more revenue you'll be able to earn.

Here's a quick overview of ways to go viral:

• Use the most popular hashtags - If you use the most popular hashtags with your content, your story could reach millions of users worldwide.
• Collaborate with a famous Tiktok creator - Get stardom first by collaborating with a popular Tiktok creator, then keep viewers hooked with high-quality content. Even one of the most popular influencers today, Dixie D'Amelio, first rose through the ranks thanks to her sister Charli D'Amelio, who was already viral.
• Stay consistent - People start following you when they see that your content matches their interests. But nothing prevents them from unfollowing you if you change the theme of your content halfway through.
• Focus on video quality - You have 60 seconds to connect with your audience and capture their attention using video - you can't afford to skimp on video quality. Consider using the best video editing tools to create high quality TikTok videos.
• Use viral background music - TikTok can take credit for making numerous songs viral. And some of these videos with viral songs are featured on other channels, like on a particular YouTube channel or even on different Instagram accounts. So, you'll likely reach a wider audience by using viral music in your videos rather than in-app audios.
• Create video tutorials - While many tiktokers are gaining ground using funny skits and short lip-synced videos, you can stand out by offering something more valuable with tutorial videos. For example, if you're a tech enthusiast, you can show your viewers how the TikTok algorithm works. You can also show them a simple haircut tutorial.

If you also want to use TikTok to become a full-time creator and earn real money on Tiktok, try these tips.

The importance of being authentic

Even though Tiktok offers plenty of monetization opportunities, it makes sense to be authentic and engage with your audience over the long term. The point is, you can't use TikTok to make money without having an audience base that has a strong affinity with you.

That means engaging with your audience by commenting on your videos, sending them hearts, following them back, and being active on TikTok every day.

Authenticity isn't just critical to becoming a top-tier TikTok creator. It's also another way to earn money on the platform, as big brands and advertisers prefer to sponsor creators who have a high engagement rate (like likes, comments) on their videos.

Therefore, your content should be something that people will actually want to watch — whether it's a video tutorial, a lip-sync video, or a dance video — you need to have an organic connection with the audience if you want them to engage more often.

Additionally, being authentic not only makes you stand out from other active users, it also helps influencers create more personalized relationships with their audience. And of course, brands love working with such influencers because they can better identify with consumers. At the end of the day, it all comes down to the importance of commitment.

Summary.

TikTok is the hottest social media site right now, and anyone who wants to be famous is downloading it. The short video sharing app is a runaway hit with millennials and allows you to share your skills with the world.

If you look at the platform's successes, you get the impression that it allows ordinary people to become sensations overnight.

You can be the next platform success story.

All you need to do is follow the right steps, and you can benefit from that too.

If you have an account MYM or Onlyfans, TikTok can be an excellent lever for you to ensure recurring and additional income.