How to Make Money on TikTok in 2024

Many people, from brands to babies, have a TikTok account. For context, the app reached one billion) global monthly users in 2021, making it one of the fastest-growing social media apps. And with TikTok’s popularity explosion has come different approaches to money-making.

For businesses and content creators alike, TikTok is a great tool for discovery that also has the potential to create a new source of revenue or income. TikTok offers various creator tools that help users manage their accounts and monetize their content. These tools include features like enabling video gifts and joining the Creator Fund, which assists content creators in maximizing their earnings and engagement.

Of course, you might already know some popular ones, like sponsored content and the TikTok Creator Rewards program (formerly the TikTok Creativity program). But some other methods have been successful for creators which we’ll discuss. Without further ado, here’s how you can make money on TikTok.

At a glance: 7 ways to make money on TikTok

1. Collaborate on sponsored content
2. Tap into affiliate marketing
3. Sell your own products
4. Set up crowdfunding to collect donations from fans
5. Collect tips from your audience
6. Join the TikTok Creativity Program
7. Grow your audience

1. Collaborate on sponsored content

Brand deals are one of the most obvious categories of monetization on TikTok. Sponsored content is when brands and creators work together to have products or to feature their offerings in your video in return for a fee. Brands often pay content creators not only with monetary compensation but also through product exchanges, highlighting the potential for financial collaboration.

Sponsorships are one of the best ways for any creator to make money on TikTok or for a brand to partner with influencers. Sixty-eight percent of marketers made TikTok part of their influencer marketing strategy in 2021. So if you’ve been considering reaching out to brands as a creator, or to creators as a brand, you’re on the right track.

If sponsored content is a path you want to explore, how you can get started? First, and perhaps most importantly, you need to identify and partner with brands that fit your niche and values as a creator and vice versa.

This helps build trust with your audience – TikTok users don’t want to feel like your content is disingenuous – as well as improves engagement on your sponsored posts since they match what your audience comes to your account for anyway.

You can start by working with smaller brands or creators for a more intimate working relationship. This lessens the pressure to have a high follower count, allowing you to focus on creating engaging content, sponsored or otherwise.

Reach out to local businesses or people with accounts in your region to see if they’d be interested in partnering up for a feature.

Also, consider joining the TikTok Creator Marketplace (TCM), a collaboration platform that allows brands to connect and run marketing campaigns with TikTok creators.

Whichever side of the brand-creator relationship you’re on, using TikTok’s native marketplace might be a better way of connecting and collaborating with the right people to monetize your content. Creators need to meet certain eligibility requirements to be invited to the platform, but brands can join and connect with creators instantly.

2. Tap into affiliate marketing

Affiliate marketing is a powerful strategy to monetize your TikTok account by promoting products or services and earning a commission on sales generated through your unique affiliate links. Here’s how you can set it up and maximize your earnings.

TikTok ads are also an effective way to reach targeted audiences and complement your affiliate marketing efforts.

Start by identifying a niche that aligns with your content and interests. Your audience will be more likely to engage with affiliate links that match their preferences. For example, if your content revolves around fitness, partnering with health and wellness brands can be highly effective.

Look for affiliate programs that offer products or services relevant to your niche. Some popular platforms to find affiliate programs include:

• Amazon Associates: Offers a wide range of products to promote.
• ShareASale: Connects you with numerous brands across various categories.
• CJ Affiliate: Features many well-known brands and products.
• Rakuten Marketing: Provides access to global brands and products.

After selecting an affiliate program, sign up and obtain your unique affiliate links. These links will track the sales generated through your promotions, ensuring you earn your commission.

Here are a few ways to incorporate affiliate links into your TikTok content effectively:

• Product reviews: Create engaging and honest reviews of the products you’re promoting. Highlight their benefits and how they solve problems for your audience.
• Tutorials and how-tos: Demonstrate how to use the product in a tutorial or step-by-step guide. This approach provides value to your viewers and can drive higher engagement.
• Unboxing videos: Share the excitement of unboxing new products. These videos tend to attract viewers interested in your niche and can lead to more clicks on your affiliate links.
• Challenges and trends: Participate in TikTok trends and challenges while subtly promoting the products. Ensure the promotion fits naturally within the content.

TikTok allows you to add a link in your bio. Use a URL shortener or a landing page tool like Start Page to include multiple affiliate links. In your videos, prompt viewers to visit the link in your bio for more information or to purchase the products you’re promoting.

Transparency is crucial in affiliate marketing. Always disclose your affiliate relationships to your audience. This builds trust and complies with legal requirements. A simple statement like “This video contains affiliate links, and I may earn a commission if you make a purchase” can suffice.

3. Sell your own products through TikTok Shop

If you have an existing line of products, merch or are considering creating one, TikTok can help you sell them. Creators from the U.S., Canada, or the U.K. with a TikTok for Business account will be able to add a shopping tab and product links to your profile.

The shopping tab is a new feature resulting from TikTok’s partnership with Shopify as well as other e-commerce platforms. It’s designed to help TikTokers with a Shopify store promote their products through the app. Users who click a product link are redirected to the merchant’s Shopify store for purchase.

To effectively drive sales, brands need to create authentic content that resonates with specific subcultures and interests within the TikTok community. Understanding and engaging with TikTok audiences is crucial for success.

Brands like Youth to the People and Glow Recipe (which TikTok published a case study about) have made use of the Shop tab, putting their actual products on sale for purchase through the app. This feature is only available in the U.S. and U.K. for now, so that’s a major factor for businesses outside those regions to consider.

Another snag with using TikTok Shop is that TikTok Business accounts only have access to generic sounds, making it more difficult to participate in trends on the app, so you’ll have to get creative.

An interesting example of this is a viral video where the Bed, Bath and Beyond social media manager hummed a viral sound that they couldn't access because of Business account restrictions.

4. Set up crowdfunding to collect donations from fans

If you’re looking to fund a specific endeavor like your startup idea or becoming a full-time creator, crowdfunding is a great option.

Offering an easy, no-pressure way for fans to give back or contribute to your idea is great for securing a regular income stream. For addressing common questions and concerns related to crowdfunding and donations on the platform, you can refer to the TikTok FAQ.

Crowdfunding could also be a great way of growing your audience if you’re offering perks to contributors. Here are some crowdfunding sites to explore:

• Kickstarter: Consider Kickstarter if you need a lot of eyes and a trusted platform for your fundraising.
• Indiegogo: If you don’t have a specific amount you’re trying to raise, you might prefer Indiegogo, which offers more flexible fundraising goals and lets you collect funds even after your deadline.
• Crowdfunder: Crowdfunder has a network of more than 12,000 accredited venture capitalists and angel investors to connect with.
• Mighty Cause: Use Mighty Cause to avoid fees and a waiting period to launch your campaign.
• Patreon: This is a great option for creators who aren’t looking to raise money for a specific project, but need to raise funds for you to continue publishing. Patreon allows you to set up subscription tiers for your followers to choose from and offer different types of exclusive content for each tier.

In practice, crowdfunding on TikTok has proven successful for businesses. Osien Gwynned found success with his Kickstarter campaign for Antur Supply Co, reaching its almost-$35,000 goal 9.5 hours after going live.

5. Collect tips from your audience

Crowdfunding platforms might not be ideal if you don’t have a specific project to fund. Consider using a tipping platform to accept donations quickly and easily. Here are some great tipping platforms to check out:

• Tipeee: Tippee is simple and easy to use, allowing creators to set up a page for their fans to directly “tip” any amount at any time.
• Buy Me a Coffee: This platform is specifically created for creators and is also simple to use. Followers can choose to buy any amount of “coffees” for $1 each, which is then sent to the creator through PayPal or online banking.
• Ko-fi: Consider this if you want more extensive options to offer audiences. Creators can offer tips, memberships, and commissions for personalized content.

Additionally, creators can earn through video gifts sent by fans during live streams or popular videos. These virtual gifts can be converted into Diamonds, TikTok's virtual currency, which can eventually be converted into real cash.

Tipping platforms work just like a real-life tip jar – the option is available, but not mandatory, and your fans can donate any amount they like at any time they want.

Creators like sarahopkinsart and thepaytonproject have put tipping platforms to good use by including these links in their TikTok link in bio.

6. Join the TikTok Creator Rewards program

The TikTok Creator Rewards program is the most straightforward way for creators to make money through the app. It’s not an ad revenue-sharing program like YouTube’s AdSense; it’s simply a way for TikTok to share income with creators. TikTok monetization is a growing opportunity for users to earn money through various methods on the platform, such as collecting tips from fans, utilizing TikTok's tipping feature, and creating a TikTok Shop for small business owners to sell products.

TikTok calculates its payouts based on factors like video length, views, video engagement, and even region-specific performance.

So, how much can you expect TikTok to pay? The program offers a generous payout increase from previous monetization initiatives, with potential earnings ranging from $4.00 to $8.00 per 1,000 views. This is a substantial uplift from the Creator Fund’s payments, which generally ranged between $0.20 to $0.40 per 1,000 views​​.

The Creator Rewards program is available for users in the U.S., Brazil, France, Germany, Japan, Korea, and the UK, and is rumored to launch in additional countries in 2024. As long as you’re in the right location, there are a few other requirements to join the Creator Fund:

• Be at least 18 years old
• Have at least 10,000 followers
• Have a minimum of 100,000 valid video views in the last 30 days
• Have a personal account that’s in good standing – business accounts are not accepted
• Create videos that follow TikTok’s Community Guidelines and Terms of Service

Advice for growing your audience on TikTok

A lot of our advice relies on having a dedicated following of people who might be interested in whatever you’re selling them. To get in a position where you can start making money, you’ll need to grow your audience and keep them engaged with your content – here are some tips to do just that:

• Post consistently: A consistent stream of content will keep you at the forefront of your followers’ minds, add value to your content in the eyes of TikTok’s algorithm, and give you more opportunities to go viral and expand the scope of your audience.
• Use TikTok’s features to the maximum: Add hashtags to boost your TikTok SEO, play into trends, including trending sounds, and use duets and stitches.
• Be authentic: The most popular TikTokers all offer different types of content but what they all have in common is their authenticity. Creating engaging TikTok posts that prioritize authentic content over aggressive advertising can help you forge personal connections with your audience.
• Engage actively with your followers: TikTok offers lots of different ways to engage with your audience⁠, from stitches to video replies. These features help you add a more personal touch to your content.
• Leverage TikTok Lives to engage with your audience in real-time and showcase products or services.
• Avoid too much sales-y content: The tricky part of using social media to sell products is not overdoing the amount of promotional material. Take a content-first approach by creating and letting your audience and their response inspire the best ways to monetize your account.

Focus on creating valuable content no matter your audience size

You don’t have to have a large number of followers to make money online. Micro-influencers are just as in-demand as the bigger influencers, as they are easier for small businesses and niche brands to partner with. Focus on creating value for your target audience as well as educating yourself on the best approaches to brand partnerships. Creators can also earn money through virtual gifts, which are tokens of appreciation from their audience that can be converted to real money.

For business owners, keep in mind that being genuine is the best path to success in making money on TikTok – it’s the easiest way to get audiences on the platform to trust you.

From being transparent about the behind-the-scenes of your business to engaging with followers consistently and not leaving their comments hanging, there are many ways to grow your account and gain your audience’s trust.