TikTok, the wildly popular social media platform, has taken the world by storm since it was first launched. And if you thought TikTok was just a fun way to showcase your dance moves and hilarious lip-syncing skills, then I’m afraid you need to reconstruct your thoughts.
With its short-form videos and creative features, it has become a hub for content creators, entertainers, and influencers alike. And it’s no secret that we’re all itching to make money on this popular platform.
Whether you’re a mere netizen, an aspiring influencer, or a business owner seeking to leverage the benefits of this platform, this insightful guide will provide you with ten (10) proven ways to earn an income on TikTok.
So, if you’re ready to turn your TikTok passion into a lucrative venture, read on as we unveil the secrets to making money on TikTok in 2024, helping you to not only grow your following but also your bank account.
10 Proven Ways to Make Money on TikTok
With its increasing user base and immense popularity, TikTok has opened up its doors for content creators to earn money, even while doing what they love. Check out these TikTok money-making ideas today.
Brand Partnerships
As TikTok’s user base continues to grow, brands are actively seeking influencers to promote their products or services. This presents an opportunity for Tiktokers to promote brands or their products through sponsored posts and endorsements. This involves creating and sharing content that aligns with the brand’s message, for which you receive a steady source of income.
TikTok Creator Fund
TikTok launched its Creator Fund in 2020, allowing creators to monetize their content directly on the platform. It provides an opportunity for creators to earn money based on the performance and engagement of their content. To be eligible for the TikTok Creator Fund, you need to meet certain criteria set by TikTok.
- You must be at least 18 years of age.
- You need to have more than 10,000 followers.
- Your videos should have received over 100,000 views in the last 30 days.
- You must have an account that abides by TikTok Community Guidelines.
- You must be located in the US, UK, France, Germany, Spain or Italy.
You can apply for the Creator Fund through the app (you’ll need to switch to a Pro Account if you don’t use that already). Click on Creator Tool and then TikTok Creator Fund to send in your application.
Live Streaming
TikTok Live is gaining popularity and offers an opportunity to earn through virtual gifting. During live streams, viewers have the option to purchase virtual gifts that they can send to you as a form of appreciation or support.
These virtual gifts can be converted into diamonds or coins, which can then be exchanged for actual money. The more engaging and entertaining your livestream is, the more likely viewers are to send virtual gifts.
Affiliate Marketing
As a creator, you can promote and sell another company’s products or services through affiliate marketing. If a viewer decides to buy the product or service through your unique referral link, you earn a commission from the affiliate company. It’s advisable to disclose your affiliate partnerships transparently to your audience, as this will help build their trust and loyalty.
Merchandise Sales
This involves creating and selling your own branded products to your followers. This can include items like apparel, accessories, stickers, or any other merchandise that showcases your brand and resonates with your audience.
To start, you need to establish a unique brand identity that aligns with your content and create designs that reflect your brand’s style. You can set up an online store using platforms like Shopify or utilize features like the TikTok Shop to sell directly on the platform.
Crowdfunding
If you have big ideas (i.e. a new startup, a product launch, etc.) that require financial support, you might want to consider using TikTok to crowdfund. To do this, you need to craft a compelling pitch that explains your project and its benefits and also sets a realistic funding goal. You can then pitch your projects to your TikTok audience and encourage them to support your ventures.
Events and Performances
Use TikTok as a platform to showcase your talents. Make a name for yourself by participating in virtual events and performances where you can earn money through sponsorships or ticket sales. You can also organize live virtual concerts, workshops, or speaking engagements where fans can purchase tickets to attend or get exclusive access to behind-the-scenes content.
Consultation and Coaching
If you have expertise in a specific field, offer consultation or coaching services to other TikTok users. Whether it’s fitness, fashion, beauty, business, or any other niche, people are willing to pay for personalized advice and guidance. Create informative and instructional videos that demonstrate your expertise and promote your consultation or coaching services. You can also provide one-on-one sessions, group sessions, or even develop digital courses that users can purchase.
Donations
TikTok has a feature that allows viewers to send creators monetary gifts as a token of appreciation. Encourage your followers to support your content by accepting donations, which can add up over time. Engage with your viewers, acknowledge their support, and provide exclusive content or shout-outs as a way of showing gratitude. You can also establish partnerships with charitable organizations and use your platform to raise funds for causes you care about.
Sponsored Challenges
Brands love to launch challenges on TikTok to promote their products or services. By participating in sponsored challenges, you not only have a chance to win cash prizes but also gain exposure to potential brand collaborations. Create engaging and creative videos that showcase the brand’s challenge and tag them in your post. This can attract their attention and potentially lead to sponsored content deals or partnerships.
3 Steps On How TO Start Making MoneY On TikTok?
Find A Niche
As a beginner, it’s crucial to find your niche and create content that resonates with your target audience. Are you a talented dancer? A hilarious comedian? Or perhaps you have a unique skill or knowledge to share? Whatever it may be, let your passion shine through your videos, and always strive to provide value to your viewers.
Create Content Regularly
Consistency is key on TikTok. Regularly post high-quality content, engage with your followers, and stay up to date with the latest trends. The more you interact with your audience, the more likely they are to share your videos and help you grow your following.
Optimize your profile
Don’t forget to optimize your profile and make it appealing to potential brand partners. Use relevant keywords, create an eye-catching bio, and showcase your best work. Remember, brands want to work with creators who have a strong personal brand and a loyal fanbase.
FAQs on How to make money on TikTok
It depends. Tiktok offers various avenues for monetization, and your earnings will largely depend on your creativity, dedication, and engagement with your audience.
Checkout: TikTok Income Calculator
To increase your followers on TikTok, consider these strategies:
1. Consistent content: Regularly post high-quality, interesting, and engaging content that resonates with your target audience.
2. Trends and challenges: Participate in popular TikTok trends and challenges to increase your visibility and gain new followers.
3. Hashtags: Use relevant and trending hashtags to increase your discoverability and reach. Research popular hashtags within your niche and incorporate them into your posts.
4. Collaborations: Collaborate with other TikTok creators as it helps cross-promote each other’s accounts, exposing each of you to new audiences.
5. Engage with your audience: Respond to comments, interact with other TikTokers’ content, and build relationships with your followers. This can help increase engagement and attract more followers.
While TikTok doesn’t pay directly per view, they do offer several ways for creators to generate income based on their content, although the exact pay per 1,000 views can vary.
The TikTok Creator Fund usually pays creators between $0.02 and $0.04 per 1,000 views. This means you could earn around $20 to $40 for 1 million views. However, eligibility requirements and specific payouts can vary based on location, engagement, and other factors.
To make money on TikTok, you need to be eligible for Tikok Creator Fund, which requires that you have at least 10,000 followers, and 100,000 video views in the past 30 days.
However, even meeting these requirements doesn’t guarantee income, as your actual earnings will depend on various factors like location, engagement, and video content.
The best time to post on TikTok depends on your target audience. However, generally speaking, the peak times for engagement on TikTok are in the evenings between 7 PM and 9 PM, especially during weekdays.
Here are the best TikTok posting times in the USA according to the Influencer Marketing Hub:
Monday: 12 PM, 4 PM
Tuesday: 4 AM, 8 AM, 10 AM, 3 PM
Wednesday: 1 PM, 2 PM
Thursday: 5 AM, 3 PM, 6 PM
Friday: 1 AM, 11 AM, 7 PM, 9 PM
Saturday: 5 PM
Sunday: 1 AM, 2 AM, 1 PM, 2 PM, 10 PM
When it comes to deciding which hashtag to use on TikTok, it all depends on the content you wish to share. The best approach is to use relevant and popular hashtags that align with your video’s theme or topic.
For example, if you’re sharing a dance video, you can consider using hashtags such as #dancechallenge, #dancelife, or #dancevideo. Additionally, you can explore trending on TikTok’s Discover page or join popular challenges by using their specific hashtags. Remember, using appropriate hashtags can help your videos reach a wider audience and potentially increase engagement.
Conclusion
It is clear that TikTok is not just a platform for entertainment, but also an opportunity to make money all year round. With these ten proven ways, you can tap into the potential of this popular app and turn your passion into profit.
Whether you choose to become an influencer, sell your own products, or collaborate with brands, there are endless possibilities for success on TikTok. Remember, it’s never too late to start your TikTok journey and explore the possibilities of making money in 2024.
So grab your phone, set up your tripod, and let your creativity flow. Who knows? You might just be on your way to financial success through TikTok!
Follow my TikTok Page today for more insightful social media tips and tricks!
RELATED ARTICLES
