How to Make Money on TikTok in 2024: 10 Easiest Ways to Earn Money on TikTok

Last updated: November 23, 2023

With millions of users on TikTok every day, you’ve got access to a huge audience that you can earn money from who will purchase your products, watch your videos, or want to hire you for projects. Building an audience on TikTok is easier than any other big platform since it’s still one of the newest social media sites. TikTok wants people to create content on their platform, so mastering their algorithm is still easy, and your videos will have a vast reach, especially when you go viral for the first time.

If you want to start making money on TikTok, creating an account in a specific niche can allow you to segment your audience to deliver the exact content they need to be happy, achieve success, or experience entertainment. In this article, we will share how to make money on TikTok in 2024.

1. Collaborate with brand TikTok accounts
2. Create video content for products you sell yourself
3. Use TikTok Ads to make money
4. Offer TikTok consulting services to make money on TikTok
5. Start earning from TikTok Rewards
6. TikTok’s Coins can allow you to earn TikTok money
7. Join the TikTok Creator Fund
8. Join affiliate programs with your TikTok account
9. Buy and sell TikTok accounts to make money on TikTok
10. Do tip collections

How to Make Money on TikTok in 2024

1. Collaborate with brand TikTok accounts

In marketing, partnerships and collaborations are almost always a win-win situation. The TikTok creator gets paid for the video content and audience they built, and the brand gets the exposure it needs to achieve its sales and marketing targets. The more targeted your audience, the more likely you are to get brands reaching out to you. For example, if you create content about making money online, software companies that help people achieve financial freedom will likely want to partner with you. And if you constantly model clothing and jewelry, those brands will contact you regarding partnerships. The goal isn’t just to amass a big audience but a significant and targeted audience of followers. That way, brands will organically reach out to you to gain access to your fans. Furthermore, you can also do your outreach by reaching out to brands on TikTok who might be relevant to your audience and want to collaborate with you. Ultimately, in this context, brands have the money and product. In contrast, you have the audience’s attention, which makes this collaboration great. You both have what the other party wants. You’ll need to be great at creating videos that convert your audience to that brand to keep the partnership going so that making money from this avenue continues to bring more business to you.

2. Create video content for products you sell yourself

You can start earning money on TikTok by creating video content for the products you sell yourself. While partnering with a brand is great, leveling up and building a brand allows you to earn even more income. That way, your TikTok marketing will serve you in two ways: by building an audience, you can grow, and by generating sales for other products you sell. Creating a TikTok account for your brand allows you to build an audience for your business. However, if you also make a TikTok account as a personal brand, you can still do brand deals, promote your products, and earn in other ways. So, think strategically about what you’d rather do.

You can build your website on a free website builder like Payhip, which allows you to sell online courses, ebooks, physical products, software, digital downloads, and more. Unlike Shopify, Payhip only charges a 5% transaction fee per sale with no monthly subscription on their Free Forever plan (unless you want one). Your TikTok accounts allow you to promote your products by positioning yourself as an expert, showcasing some exciting features, or providing value and using your products as a tie-in. A TikTok video selling products can help you create more brand awareness while generating sales for your business.

3. Use TikTok Ads to make money

You can earn money on TikTok from TikTok’s advertising channel. As the saying goes, it takes money to make money. Investing advertising coins into TikTok to promote a brand or your product can help you increase your sales. The important thing to understand about advertising is that you need to target the right segment with the right offer at the right time. You won’t make any money back from advertising if your offer is unappealing or if people don’t quite get what you’re selling. People can lose money from running ads. However, some people generate millions of dollars from it as well. When using TikTok ads to earn money, approach your advertising with the intent of experimenting with different offers, targeting groups, and unique videos from TikTok creators or yourself to see the highest converting methods. From there, you’ll want to scale your ads. Plus, you’ll want to experiment with more concepts like the one that worked so you can run a profitable campaign on TikTok. If a brand hires you for a project, you can add a budget to run ads with the fee they pay to ensure you get more eyeballs and sales from your marketing.

4. Offer TikTok consulting services to make money on TikTok

One way to make money on TikTok is to position yourself as an expert and offer consulting services. If you know how to make money online or have made money from being an influencer on TikTok, you can share your expertise with others. Knowing any valuable skill people want to learn can be a great way to make money. People want to learn from experts who’ve succeeded in exciting areas. If you use your TikTok account to share your expertise and knowledge, people will want to hire you to learn even more from you.

You can use Payhip to offer coaching services to your TikTok audience. Payhip allows experts to sell coaching services, create online courses, sell ebooks, create membership sites, and other digital products. Managing your TikTok profile can drive traffic to your services on your website. When you publish a video on TikTok showing people your accomplishments or what you can do, people are more likely to want to hire you for your expert knowledge to help them achieve their accomplishments.

5. Start earning from TikTok Rewards

On TikTok, you can earn money from TikTok Rewards. This is basically a TikTok referral program to bring more users to the platform. Certain countries have age restrictions, and you can bring up to 100 new referrals per day or more if you’re outside of Egypt, Morocco, and Pakistan. Referral links don’t expire, so if your friend signs up a year later, you’ll still get the rewards for the referral. If referrals sign up within 24 hours, an invitation reward is added. The rewards can be traded in for actual money, coupons, or mobile top-ups. And you can transfer your money to PayPal or via bank transfer.

6. TikTok’s Coins can allow you to earn TikTok money

People can purchase TikTok coins to give gifts to creators. If you’re a TikTok creator, you can accept LIVE Gifts to collect Diamonds. Those Diamonds can be redeemed for cash or virtual items. The more gifts you get from your followers or people viewing your content, the more money you’ll be able to redeem. Creating quality content can allow you to earn more gifts from your viewers. You’ll need to have an account that’s eligible to go LIVE, must be 18 or over, have access to LIVE Gifts in your country, and can’t work in government or public interest roles.

7. Join the TikTok Creator Fund

The TikTok Creator Fund is currently being transformed into the Creativity Program Beta. There’s money creators can make from this program if you have 10,000 followers, 100,000 views in the last thirty days, and are an American over the age of 18. Those in the Creativity Program Beta can make up to 20 times more than they did in the original creator fund. Plus, it allows creators to make longer form content that they can monetize. There are rules, such as not making videos in Duet, Stitch, or Photo Mode. Plus, the video content can’t be sponsored. You can find more details by reading TikTok’s page about the program.

8. Join affiliate programs with your TikTok account

Many companies look for affiliates who have social media followers to join their programs. If you want to promote physical products, you can join the Amazon affiliate program to promote products sold on Amazon to customers. For example, a person might model clothing they bought from Amazon via their affiliate link. Alternatively, you could introduce and promote SaaS platforms to your audience by joining the Payhip Partner Program so that you get to earn a commission for every person who signs up via your link.

9. Buy and sell TikTok accounts to make money on TikTok

There are numerous platforms that allow you to buy and sell TikTok accounts. If you own a store, you might sell your TikTok account alongside your store to the buyer. Having a TikTok account with a large, engaged, and niche-targeted following can allow you to sell to someone in that niche looking for an established audience. Not everyone wants to build an audience from scratch, which is why someone might want to buy a pre-built following instead. Alternatively, you can also buy TikTok accounts if you want to promote your products to an existing audience without growing from scratch. Seeing the creativity of someone who grew a large following on TikTok can help you continue the growth and performance of the account. The app has many TikTok accounts you can contact regarding a purchase of their account if you’re interested in seeking out an account on your own. Most people keep their contact details in their bio to start the conversation.

10. Do tip collections

On TikTok, earning money is possible via tips. Anyone can send up to 100 tips daily to any creator over 18. There is a maximum on how much each person can tip per day. However, your fans can tip you anytime if you’re an active creator. You can ask people for tips when launching something, such as unique or gated content via DMs. Ask people to tip you to gain access to a product you sell or to have a one-on-one chat with you. You might also ask for tips for creating videos for fans, such as birthday messages or other personal content. If you create media for your fans, tip collections can be a great way to make money on TikTok. Plus, you’ll look like a hero for stepping up and building relationships with fans.

Start making money on TikTok

Knowing how to make money on TikTok can allow you to reach a large audience to sell products or services or help other brands in their campaigns. Building a TikTok business can be lucrative for creators. You can build your website using Payhip to host products and services to direct your TikTok followers. If you aren’t sure about whether or not TikTok is the best platform for you, you can learn how to make money on Instagram to monetize an audience there instead. To build a website for digital or physical products, sign up for Payhip today.