How to Make Money on TikTok: 14 Best Ways In 2024

Beyond uploading short videos on the internet, TikTok allows its users to make money on it. And guess what? You can also explore this opportunity. However, you’ve got to know the TikTok money hack to do this. That’s why we’re here.

In this article, we’ll discuss how to make money on TikTok. We’ll also tell you all there is to know about exploring this fantastic money-making opportunity.

Let’s get right to it.

How Does TikTok’s Algorithm Work?

The whole TikTok experience is based on an algorithm. And this involves a series of “pushes.” TikTok makes an initial push of your video and tests the footage based on crucial factors such as:

  • Video completion percentage.
  • The time of a post.
  • Engagement rate.
  • Overall account score.

If your video ranks high based on these factors, the algorithm makes a second push of the video. It continues this series of drives giving your video more attention on the platform.

However, to scale through these stages, you’ll need your content to record at least a 95% completion rate. Simply, the more people watch a video till the end, the more the video will appear on users’ screens.

Hence, you’ll need to make your video appealing if you intend to have mass audience engagement.

Can You Make Money on TikTok?

The answer is yes. Just like most social media platforms, you can make money on TikTok. You can earn directly or indirectly by uploading videos on TikTok using different methods.

Here are five of the best ways to do this.

14 Best Ways to Make Money on TikTok

1. Partnership with brands

make money on Tiktok

Today, various brands across the globe use influencers to promote their products on TikTok. In return, they offer monetary rewards to these influencers.

To make money on TikTok, you can partner with one, two or more brands to advertise and promote their product. In return, you get paid for each post or in whatever format both parties agree upon.

2. Promote your product

tiktok money hack

You can earn on TikTok by directly promoting your goods or services on your profile. This is like starting any e-commerce business that’s out there.

All you need to do is engage your audience as a retailer or wholesaler. For instance, if you’re into gadgets, you could advertise and sell these appliances through TikTok.

You could also sell merch such as hoodies and shirts. All you need to do is collaborate with any merch company. Then, create various clothing designs for your followers and promote it on your page.

3. Drive Sales Using TikTok Ads

Utilize TikTok ads to redirect traffic to your website, e-commerce store, or even your TikTok Shopping tab. Whether through in-feed image ads showcasing your products or inventive TopView ads (fullscreen takeovers) to enhance your TikTok following, both strategies can contribute to your earnings on the platform.

Additionally, leverage TikTok as a top-of-funnel resource to encourage users to subscribe to your email list or SMS campaigns.

This approach helps maintain a less sales-oriented appearance on your TikTok account while still being a potent revenue driver.

4. Promote Songs

Earn money by incorporating songs into your videos. Almost every TikTok video features a background song for creators to lip-sync and dance to, and musicians recognize the promotional value of this. With a substantial following and engagement, artists may pay you to feature their music in your videos.

Musicians understand that if your video goes viral, their song will gain traction, resulting in more downloads, concert ticket sales, and merchandise purchases.

5. Join TikTok’s Creativity Program Beta

Participate in TikTok’s Creativity Program Beta (formerly the Creator Fund), a program that compensates users for creating engaging content.

The more engagement your videos receive, the more TikTok pays you. This initiative is aimed at retaining users on the platform, ultimately boosting advertising revenue, and TikTok rewards creators contributing to this mission.

To join the Creativity Program Beta, you need a minimum of 100K video views in the last 30 days. As this program is still relatively new for TikTok, anticipate ongoing evolution and changes in the coming months and years.

TikTok claims that the “Creativity Program Beta provides the potential to earn up to 20 times the amount previously offered by the Creator Fund.”

If you’re a musician or aspiring one, leverage TikTok to promote your music. Given TikTok’s nature as a platform for singing and dancing, it’s a logical choice to showcase your beats.

6. Start a Patreon

Offer complimentary content through your TikTok account while enticing followers to support you on Patreon for access to premium content.

This could include:

  • Behind-the-scenes glimpses
  • Exclusive content
  • SWAG (merchandise)
  • Personal interaction with you
  • Live chats and hangouts
  • Community access
  • Public shoutouts

Maintain creativity in your offerings. Once you establish a loyal following, they’ll desire exclusive access to everything you can provide.

However, ensure your Patreon content is valuable and worthwhile to avoid any regrets from your supporters after signing up.

7. TikTok live shows

tiktok live

One of the best ways to earn is through the TikTok live money opportunity.

Once you have accumulated up to one thousand followers, you can host live shows and make money from coin gifts. Coins are TikTok’s in-app digital currency that can buy items on TikTok.

Buyers can also gift them to creators in a bid to show gratitude for fantastic content. These gifts are tagged and come with a specific number of coins. Here’s the list.

  • A “Panda” is 5 coins.
  • An “Italian Hand” is 5 coins.
  • A “Love Bang” is 25 coins
  • A “Rainbow Puke” is 100 coins
  • A “Concert” is 500 coins.
  • An “I’m Very Rich” is 1000 coins.
  • A “Drama Queen” is 5000 coins.

In this instance, you can easily convert these coins to money and withdraw them. (We’ll tell you the rules guiding coins cash-out later on).

However, to maximize this option, you might need to regularly remind your audience to show appreciation if they enjoyed your content. Still, avoid making a direct request for money.

A regular shoutout to those who tip you might do the trick. You can also encourage your audience to set up a recurring subscription.

8. Affiliate marketing

This is quite similar to partnering with brands. However, it is different in the sense that this works through referral links. Also, you get a commission on each sale made through you.

In this instance, all you need to do is register as an affiliate partner to any brand of your choice. (For example, Amazon, eBay, Walmart, Target e.t.c ). Then, create direct links to products. Then, drop it on your TikTok profile.

With each buy through your link, you get a commission in return. Naturally, more purchase means more money.

Wealthy Affiliate is a place to go if you wish to get top-notch training on affiliate marketing, and you can get started for free.

Note that regardless of the chosen method, you’ll need to have excellent traction on all your content.

Simply, you’ll need a massive number of followers, views, likes, and comments. This way, brands can be sure their products will get the required engagement.

9. Acquire New Clients

Leverage TikTok as a powerful platform to grow your freelancing or consulting business. Create engaging content to expand your audience and subsequently showcase your services.

Whether a follower requires your expertise or referrals lead to new clients, TikTok can be a valuable business-building tool.

For instance, if you’re involved in website development, showcase some of your projects on TikTok.

If you offer email marketing consultation, highlight some of the innovative campaigns you’ve crafted. With creativity, any business, from plumbing to accounting to software, can be presented excitingly on TikTok. Unleash your personality, have fun, and embrace the essence of TikTok.

10. Build and Trade TikTok Accounts

If you possess the ability to rapidly grow audiences, turn it into a profession. Numerous creators and businesses seek a headstart on TikTok, presenting an opportunity for you to build and sell TikTok accounts.

Identify industries interested in acquiring successful TikTok accounts. Focus on content that appeals to potential buyers, steering clear of personal content. Keep the emphasis on the subject matter rather than your face or name.

11. Receive Donations Through Live Gifting

During your TikTok live streams, followers can send you coin donations, which can be converted into cash. Create captivating live streams, attract a substantial audience, and watch the coins flow in.

However, adhere to TikTok’s guidelines by avoiding overt solicitation of gifts; the interaction should be natural and organic.

To go live on TikTok, you need at least 1,000 followers and must be at least 16 years old. Additionally, you must be 18 or older to earn gift points.

12. Fundraise Through Crowdfunding

Engage your audience in crowdfunding campaigns related to your TikTok content. Whether backing your project on Kickstarter or supporting a cause on GoFundMe, crowdfunding has a global projected growth to $43.48 billion by 2028.

The average success rate for crowdfunding campaigns is notable at 22.4%, making it a viable option for financial support.

Align your crowdfunding efforts with your TikTok content to ensure relevance. For instance, if your TikTok focuses on country music lip-syncing, fundraising for a charitable cause related to your content is likely to resonate well with your audience.

13. Collect Tips

If you lack specific projects or products to showcase, consider seeking tips from your audience as a way for them to support your account and maintain the content flow.

Collecting tips on TikTok is akin to street performers opening a guitar case for contributions or platforms like Wikipedia seeking donations to support their services.

Several platforms facilitate the tipping process:

  • Venmo: Utilize someone’s Venmo link, username, or QR code for a quick donation.
  • Buy Me a Coffee: This platform offers a simple and enjoyable way for your audience to express gratitude, supporting either one-time donations or ongoing memberships.
  • Tipeee: Recognized for user-friendliness, Tipeee provides various features, allowing you to showcase your profile, update tippers, display rewards, and engage with the community.

14. Brand Consulting Services

In 2024, an increasing number of brands are channeling their investments into TikTok as the next prominent social platform for marketing their products and campaigns.

Position yourself as a TikTok expert and offer consulting services to businesses, guiding them on various aspects, from crafting viral content to selecting suitable influencers for collaboration.

As businesses venture into the TikTok realm, their key objectives will revolve around growth and expanding their reach.

Be their knowledgeable guide, steering them away from potential pitfalls and ensuring that their communication aligns seamlessly with the platform’s audience.

How Much Can You Earn on TikTok

You can earn quite a lot of money from TikTok. In fact, you can make life-changing money on TikTok. In case you’re in doubt, just take a look at how much Faisu earns from TikTok.

However, there’s no specific number as to how much money you can make on TikTok.

It largely depends on your profile strength. Generally, it involves factors like your selected niche, profile engagement, location, and your influence over a brand’s target market.

For instance, Charli D’Amelio, who makes the most money on TikTok, has over 50 million followers and more than 3 billion likes. Also, Zach King, with more than 40 million followers and over 2 billion likes, earn around $40,000/post.

Hence, with a strong profile, you can still earn between $10,000 and $40,000 per post. You can also obtain much more from brand sponsorships, especially if you collaborate with multiple brands.

In case you aren’t sure about your profile strength and want to know its estimated earnings, you can check it out using the Igface TikTok Calculator.

Using The IgFace TikTok Calculator

A significant part of how to make money on TikTok topic is knowing how much you can earn. And this is especially useful if you think you’re an influencer, thanks to your massive engagement and followers.

However, while this could be challenging, thanks to various TikTok money calculators, you can now easily get it done. It allows you to calculate how much you can earn from your TikTok account. Fantastic right?

A great example of this tool is the IgFace TikTok calculator. And here’s how it helps you make money on TikTok.

What is IgFace?

This tool is an analytics engine that functions as an influencer platform for brands and bloggers. And it’s useful to TikTok as it helps to educate both new and old TikTok stars on their potential income.

However, it’s not a direct part of TikTok. As such, it’s only functional within the western variant of TikTok. All you need to do incorporate into your account to enjoy its benefits.

How does the IgFace TikTok calculator work?

As already stated, TikTok doesn’t give you a percentage of its advertisement income. Hence, there’s an absence of intermediaries in marketing gigs.

In turn, it can be quite challenging to determine the appropriate rates to charge for an advertising or marketing campaign. And this is where the Igface TikTok calculator comes in.

It helps you ascertain your estimated likes, comments, and general engagement on your TikTok account. As such, you can verify the value of your account.

And then how much to charge brands hoping to partner with you for marketing campaigns.

It also provides in-depth analytics on your videos and post. This way, you can know your worth as a content creator and effectively promote and value yourself to brands.

How to Make Money on TikTok

Monetizing TikTok is a great idea, especially as it allows you to make money while having fun. In case you’re wondering just how, here’s a step by step guide.

Step 1: Choose a niche for your TikTok account

Choose a niche that interest you. Since you’ll need to continually create short videos around it, ensure it’s something you’re passionate about.

Step 2: Download TikTok and create an account

Depending on your device – iOS or Android – you’ll need to download TikTok and create an account. Ensure your profile is straightforward and avoid using numbers as your username.

Step 3: Upload amazing videos on your profile

You’ll need to grow your profile by providing amazing videos. The goal is to become who is generally called an Influencer. That is, you need to become someone who can influence the buying decision of people.

To achieve this, you’ll need thousands of followers and active engagement in your post. (Not to worry, we’ll discuss things you need to do to maintain a healthy profile later on).

Step 4: Link your account with other social media platforms

You should also link your TikTok account to other social media platforms like YouTube, Facebook, and Instagram. This way, you can increase the people interested in your profile.

Step 5: Monetize your Tiktok account

After becoming an influencer, you’ll need to explore the options discussed above. You can promote other brands, sell your products, request for coin tips, or engage in affiliate marketing, among others.

Once you pick any of the options, then you can begin to make money on TikTok.

Things to Do to Help You Build a Strong Profile

To make money on TikTok, you’ll need to have a strong profile that attracts a broad audience range. To do this, here are a few things to note.

1. Be Unique

If you’re a constant user, you already know that there are various users and contents on TikTok. As such, you must stand out if you want to leave a lasting impression on your audience.

You might want to pick a video niche that’s not so popular among other influencers. If you do decide to stick with a popular niche, then ensure you present your content in a unique style.

Find new, fresh, and funny ways to pass across your message. If you bring something new to the table, you’re more likely to get noticed and make money.

Also, create hashtags that people can identify with you. This way, you can increase your audience engagement in your videos. You might want to try out a hashtag generator if you aren’t sure what to use.

2. Identify your audience

Being unique will mean little if you don’t put your audience in mind when you make videos. You need to ask questions about who you intend to reach and why they will view your videos.

You should also consider the age group of users and gender distribution. For instance, there are more teenagers and men on TikTok. It’s only wise to focus more on these groups when making videos.

You can also check out viral videos on TikTok, so you have an idea of what exactly you need to do.

3. Identify your competitors

Once you identify your audience, you’ll need to check out others in the same space. Assess their videos for inspiration. You can also look out for what’s missing and try and improve on them.

This way, you can have a competitive advantage and stay top in your chosen niche.

4. Stay Consistent

This is even as important as the prior tips. TikTok is competitive, and being away may result in your audience finding content elsewhere.

As such, ensure you are consistent with your content release.

You might also want to pick a specific time for your content release. Through this, your audience can ascertain when to look out for your videos.

Also, pay attention to your videos that attract more attention. You might want to stick to such a style, but you have to do it with constant improvements.

5. Promote your content

Posting videos on TikTok alone might not be enough to gain the broad audience you need to make money. You can promote your content through TikTok ads.

You can also promote your profile on Facebook, your blog, Instagram, Twitter, and even YouTube. This way, you can reach more people and direct them to your TikTok profile.

6. Engage your audience

Especially if you plan to maximize the TikTok live money to earn revenue, you must engage your audience. You should regularly interact with your audience, ask them what they want to see, and provide these contents to them.

This way, you can develop a bond with them, and have more influence over them.

7. Use only high-quality videos

This is another crucial thing to note if you want to make money on TikTok. Picture yourself watching a video on the internet, and then it’s all blurry. Total turn off, right? Well, it’s the same with all TikTok users.

Your followers want something bright and vivid so that they can catch all the fun of the video. Also, high-quality videos naturally appeal more to the eyes and brain. As such, ensure your videos are of the best quality.

While you can always use your mobile phone’s camera, ensure they are right and shot in the best lighting conditions.

If you are camera-shy, you can still post high-quality videos on TikTok without showing your face.

How to Get Your Money From TikTok

If you follow the hints above, then you’re sure to earn reasonably on TikTok. Even more, you’ll have lots of coins in gratitude from your loving fans. So, the next thing on your mind is how to transform your coins into money. Here’s how.

First, just like coins are bought using actual money, you’ll need to give the coins back for real money. To do this, you’ll need to convert them into diamonds.

And diamonds are valued at 50% of the actual value of a coin. So, for instance, 100 coins are equivalent to 50 diamonds.

After this, you’ll need to convert the diamonds to actual money. And each diamond is valued at 5 cents, So, if you receive 50 diamonds, it’s worth $25. Also, TikTok gets a 50% commission on your coin earnings. So, in this case, you only get to keep $12.5.

Next, to receive payment, you’ll need a legit PayPal account as TikTok only pays directly to one.

You’ll also need to ensure that your email and name on both TikTok and PayPal correspond to complete a withdrawal. In case you need one, you can click here to register.

Afterward, you’ll need to withdraw at least $50 before TikTok can process your request. Also, your account balance must be over $50 to be able to withdraw. You’ll then wait for 15 days for TikTok to process your payment.

Note, your withdrawal has a daily limit.  As such, you can only request $1000 of your tips each day.

Final Note on How to Make Money on TikTok

Since its issue on iOS and Android platforms three years ago, TikTok has grown to become a major go-to social media platform. It is also perhaps the most preferred video-production app on smartphones today.

Even more, this platform allows users to make money on it. However, like every other business enterprise, you’ll need to be strategic and consistent. In this article, we have shown you different ways on how to make money on TikTok.

Now that you know, try out this opportunity and make tons of cash.

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