How To Make Money On TikTok In 2024: 14 Proven Strategies

How To Make Money On TikTokPin

Want to learn how to make money on TikTok? We’ve got you covered.

In this post, we’ll be covering the most effective ways to make money on TikTok.

These ideas will help bring some focus to your content plan for TikTok, and for your top-level social media strategy.

1. Sell your own merchandise and products 

Selling your own products and merchandise is a great way of making money on TikTok. All you have to do is create a small e-commerce store to list some print-on-demand products that you can promote and sell using TikTok.

01 Sell your own merchandise on TikTokPin

You can use sites like Sellfy to create an ecommerce storefront to list your products and process payments. Then create some product designs using your brand logo, or some original artwork to sell.

You can choose to source products yourself and handle storage/shipping, etc. Alternatively, you can use their print-on-demand service and they’ll handle that for you.

Selling print-on-demand merchandise is super simple but the tricky part comes with promoting your products effectively and directing your followers of the TikTok app to your store. 

In order to do this, it’s a good idea to use a bio link tool like Pallyy. Pallyy will allow you to link to multiple different product pages from just one link in your TikTok bio, making it easier for your followers to find the products you’re promoting in your videos.

Not only that but it can be used to schedule your post in advance and moderate comments from your followers too.

2. Collect tips from your audience

TikTok users are super generous, so it’s not uncommon for followers to tip creators that they love. This is a super simple but super effective way to make money on the platform. There are a few different tipping tools that you can use to receive tips from your TikTok community. These are: 

All of these platforms can be connected to your TikTok account to allow you to easily receive tips from your followers. Tipping is more common for creators that really go out of their way to add value to their content. 

For example, if you’re creating tutorials for your fans or hosting regular live streams then your might receive more tips than you would by simply jumping on the latest dance trend.

The more engaged your community is, the more likely you are to receive regular tips from followers. 

3. Collect donations live

Following on from tipping, your followers can also donate to you using TikToks own virtual currency.

When you host a Livestream, viewers can send you virtual gifts and coins which can be exchanged for Diamonds, which is TikTok’s own virtual currency. If you collect enough Diamonds, you can cash them out as real money. 

02 Donate on TikTok virtual currencyPin

Gathering donations from live streams is a great way to make some extra cash, as viewers are often really keen to interact with the streamer and the other viewers in the chat, so donations and gifts are extremely common. 

If you want to increase the number of donations you receive in a stream, try to add value, by answering questions and engaging with viewers interacting with the people in the comments section.

Also, be sure to thank the people that donate to your stream, and consider shouting out the comments left by people that donate a large amount.

4. Earn money from Patreon

Patreon is an extremely useful tool for creators looking to establish a consistent income from social media.

Patreon essentially allows you to create a private membership space for your followers that can only be accessed by paying a monthly subscription. 

In order to incentivize followers to subscribe to Patreon, content creators often create Patreon-exclusive content that can only be accessed by members. Another common perk is early access to new videos and content. You can also offer physical perks for different levels of membership such as free gifts and postcards. 

03 Earn money from PatreonPin

As well as being able to collect subscription funds, you can also use Patreon as a community space where you can interact with your followers and they can also talk to each other.

This is why it’s a great choice for TikTok creators who are looking to build a strong community of followers and receive a consistent income from subscriptions.

But it’s not the only platform for selling subscriptions. If you’d like to explore other platforms, check out our roundup of Patreon alternatives.

5. Try Crowdfunding

If you’re planning to complete a particular project or challenge and you need to raise funds for it, then crowdfunding is a good way to raise money from your TikTok audience. 

You can use sites like Kickstarter to set a donation goal and encourage your followers to donate to your cause. In most cases, people will offer donors an incentive to donate, such as a gift or reward when a project is completed. 

04 Try crowdfunding on TikTokPin

People mostly use crowdfunding to raise money for good causes like charities and events, but it’s also a great way to raise funds for projects relating to your content. 

For example, if your account focuses on travel and you need funds for a specific trip or destination then crowdfunding is a great option. Alternatively, if you have an idea for a physical product that might be of interest to your followers, you could crowdfund for money to get the business off the ground.

6. Run ads on TikTok 

One of the easiest ways to leverage the power of the platform is to run TikTok ads for your existing businesses.

TikTok is the go-to social media outlet for young people who fall into the Gen Z and Millennial age groups, so if this is your target audience, then running ads on the platform is sure to offer considerable returns. 

TikTok offers a few different ad formats. You can run in-feed video ads, which will appear on the ForYou feed of users in your target audience.

Alternatively, you can run Brand Takeover ads that take over the whole user screen for a few seconds, before becoming part of the FYP feed. This type of ad is really great for grabbing the user’s attention. 

If you get in touch with the TikTok sales team, some brands can also access other ad formats like Hashtag challenges and more. 

7. Promote affiliate products 

One of the easiest ways to earn some extra cash is through affiliate marketing. With affiliate marketing, you can earn commissions by promoting products from other brands and companies. 

If you want to make a good amount of money from affiliate marketing on TikTok, it’s best to choose products that align with your target market. 

For example, if you create beauty videos, then promoting affiliate products like makeup and skincare would be a good choice. You should also make content that focuses on showcasing the products and how to use them.  

In order to earn the maximum amount of commissions, your followers will need to click your links or use your promo codes to make purchases. So be sure to make this information clear to your followers, and use a bio link tool like Pallyy to organize your links and make your affiliate products easily accessible.

Also, only promote high-quality products that you actually like and that have good reviews. Promoting poor-quality products to your audience can lead to a loss of followers due to a lack of honesty and credibility.

Related Reading: The Definitive Guide To TikTok Affiliate Marketing.

8. Sign up for the TikTok Creator Fund 

The TikTok creator fund is a scheme that allows creators to earn based on the amount of engagement their videos receive. 

How much you earn from the fund will depend on how your videos perform, but the exact way this is calculated isn’t exactly clear. TikTok uses a combination of factors to determine how much each TikTok video earns, including the number of views, the authenticity of views, and content engagement rate. 

To join the Creator Fund you must: 

  • Have at least 10,000 followers
  • Have at least 100,000 views in the last 30 days 
  • Publish original content 
  • Create content that adheres to community guidelines and best practices
  • Be at least 18 years old
05 Sign up for the TikTok Creator FundPin

Although the TikTok Creator Fund is an option for earning a little extra cash, it’s been widely criticized by creators as payouts can be quite small.

According to posts made on Twitter, even creators such as Mr. Beast, who amassed well over a billion views on the platform, had earned less than $20,000 as of the start of 2022. Despite this, it’s worth signing up if you’re eligible, to open up another income stream.

9. Publish sponsored posts

One of the most lucrative ways to make money on TikTok is through sponsored posts from brands. This is when companies pay creators to publish one or more organic posts promoting their product, event, or brand. 

Sponsored posts are extremely effective and popular on TikTok as influencers on the platform have a lot of sway when it comes to influencing their followers’ buying decisions. 

06 Publish sponsored posts on TikTokPin

How much brands will pay for sponsored posts depends on how many followers you have and what your views and engagement rates are like for your previous TikTok content.

Smaller ‘nano’ creators can expect to earn anywhere from $50 to a few hundred dollars per post. 

Larger influencers with a strong following can earn upwards of $10,000 per post.  When considering brand deals for sponsored posts, try to select brands that align well with your audience so that they don’t become disillusioned with your sponsored content.

If you’re struggling to find influencers to collaborate with you can use the TikTok Creator Marketplace. It’s the official place to go for creator and brand collaborations, and it’s very simple to use.

10. Make money from TikTok Shopping 

In 2021, TikTok introduced a built-in shopping feature that allows users to make purchases from their favorite creators without leaving the app. 

When you sign up for TikTok Shopping a new tab will be added to your profile where users can browse products from your existing ecommerce store. 

07 Make money from TikTok shoppingPin

You can also tag your products in your videos, making it easier to promote your products within your content.

In order to make the most of your TikTok Shopping store, be sure to mention your products within your videos, and don’t forget to tag any products that you feature within your content. 

11. Promote, create and sell music 

Music is a big deal on TikTok. Many upcoming music stars have used the platform to make a name for themselves in recent years.

If you’re a music creator or singer, then a great way to make money is to promote and sell your music

You can create content focused on your music such as performance videos, or you can use clips of your music to try and create a TikTok trend. 

If clips using a snippet of your songs go viral, you can expect a big influx of downloads, as long as your songs are available on popular music stores like iTunes. 

If you have a large enough following, musicians may also be willing to pay you to use their songs in your content. 

12. Become a brand ambassador

Instead of just publishing one or two sponsored posts for brands, you can actually become a brand ambassador, and engage in long-term campaigns and promotions with specific brands. 

Brands will usually pay ambassadors monthly, and provide free products in exchange for a set amount of mentions and posts. 

Becoming a brand ambassador can be an effective and consistent way to make money on TikTok. 

However, it’s essential to partner with companies that align with your own brand and that your followers will be interested in learning about.

If you choose an unrelated brand that has no relevance to your content, your followers may think it’s spammy and over-promotional.

13. Collaborate with influencers 

If you’re a business looking to leverage the earning power of TikTok without creating your own content or growing your follower count, then the best thing you can do is collaborate with influencers. 

Do some research and find creators that hold authority in your niche. You can use tools like BuzzStream for this. Then reach out to them about possible collaborations. 

You may want to pay different creators for individual sponsored posts or create long-term partnerships with your very own brand ambassadors. Whatever route you take, be sure to check out the influencers thoroughly before jumping into a partnership with them. 

Also, try to keep track of your campaigns so that you can accurately monitor performance and calculate ROI.

14. Become a consultant

If you’ve built a decent-sized following on TikTok, you may be able to offer consulting services in your given niche as a way of making money from your content.

For example, if you create TikTok relating to cleaning and decluttering, you could offer a consulting service to your followers to talk with them and give them tips and ideas on how to stay organized and clean in their own homes. 

If you’re particularly successful at growing TikTok accounts, you can also offer consulting to help other brands and creators learn how to grow their own following.

Whatever consulting service you decide to offer, be sure to use contracts that clearly define the terms of your service, and how much compensation you expect to receive.

Final thoughts

As you can see, there are tons of strategies for making money on TikTok, you just have to think outside the box. You can employ one, or more of the strategies listed to make a consistent income from TikTok or use it as a promotional tool to boost sales for an existing business.

If you want to learn more about TikTok, or social media in general, check out these articles:

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