How To Make Money On Tiktok: 15 Strategies To Use In 2024?
Did you also wish to make money out of your TikTok love and passion? If yes, then you have landed in the right place.
In this article, I have been discussing 15 effective strategies to be implemented in or after the year 2024 to make money on this highly popular platform.
I remember trying to make a few bucks off my TikTok hobby and it required a good amount of learning but in the end, it paid off as I learned some amazing tips that constantly work for me even today.
And you know what’s the most prominent component of getting success on this platform? That is building loyal and engaging followers.
Don’t fret; you don’t need to shell out thousands of dollars on marketing or buy free TikTok likes to inflate your followings.
Just take an insight into this comprehensive guide, and expand the base of your followers and earnings.
15 strategies to Make Money on TikTok
I’m in immense joy sharing that I’ve also been there in your place looking for an effective way to earn money using this highly popular platform named TikTok.
Here, I’m sharing with you the 15 effective strategies that can assist you in making money on TikTok.
So, let’s begin –
1. Leverage TikTok Creator Fund
I’m still relatively new to the TikTok Creator Fund as it took me quite a long run to be selected for it.
Yes, you read that right, to be selected for the fund there are some specific criteria that creators must meet, these are:
- You must have at least 10,000 followers on your TikTok Account.
- There must be 100,000 views on your videos within the last 30 days.
- Your account must be reputable and follow the platforms’ community and guidelines.
- The content you post must be original, and you must be 18+.
If you meet the age requirement, I can help you achieve the remaining; all you need to make sure the content you post is original and appealing to your targeted audience.
In addition, positively respond to your audience, best utilize the features of the platform, experiment with different formats of the content, and seek collaboration with reputable content creators.
These tips will definitely turn out to be effective approaches in maximizing your following and meeting the remaining criteria; once you meet all the requirements, don’t forget to submit the application within the app to join the TikTok Creator Fund.
2. Brand Partnerships and Sponsorships
I knew from the beginning only that attracting brand partnerships would take me as much effort as it takes to climb a steep hill.
But I didn’t lose hope and worked determinedly to build a strong presence on my TikTok account.
Today’s date is not very much, but I collaborate with a few notable brands and promote their products and services, and believe me it’s a really great way to earn money on TikTok.
There’s a lot more effort into this, and you must pick up a brand that can align with the content of the style you create.
Once you have a strong presence, try to reach out to the brand, have professional conversations, and show your achievements, and the script.
By good fortune, if they relish your idea, they will surely be willing to collaborate with you and pay you for promoting their brands.
3. Affiliate Marketing
What’s your opinion on being a salesperson? Well, that’s what often I’m when I undeniably like the product, and can’t stop myself from promoting it on the videos I create.
And you know I also get paid for it; let me explain to you clearly.
Affiliate Marketing is another effective strategy for earning money on TikTok, and in this process, you promote the product you like and share the link of the brand in your post or a video.
And in very fortunate cases, if your followers tap the link, and even buy the product you mentioned, you will receive the commission for each sale.
Be sure it perfectly aligns with your content, so the followers believe that the product is actually worthwhile.
4. Selling Products through TikTok Shop
Do you know that by using TikTok, you can also sell a product of your own?
Yes, the app offers an e-commerce platform called TikTok Shop for creators to sell their own products directly to their followers.
It’s one of the great ways of building great interaction between the creator and viewers.
5. Sell Merchandise
As I mentioned above, TikTok is now a great platform for business owners to make money.
Take an example, I’m the owner of a fabric material, and I’m looking to maximize the sale of the materials I produced.
For this, I would first create a TikTok shop account and connect it with an exciting TikTok account.
Then, similar to promoting the other brands, I’ll create appealing videos and content showing off the materials I have and their great use for decoration and other things.
I will remove background from video and insert something that compliments my video and elevates the appeal of my product.
I’ll add all the details and descriptions about the product, share the link to purchasing, and answer the queries of the customers looking to buy, and that’s how I will generate extra income.
Now, if you are too looking for a way to sell your own product, get in touch with TikTok Shop.
6. Offer Paid Courses and Tutorials
Once Thomas Davenport said, “Successful knowledge transfer involves neither computers nor documents but rather interactions between people”.
I often relate to this quote at a time when I share and teach my knowledge and expertise to my beloved followers using TikTok.
The platform, specifically for the expertise of the particular field and teachers, offers an opportunity to create online lessons where they connect with the wider learners.
It’s another great way of generating money and building stronger relationships with the viewers.
7. TikTok Live Gifting
I never realized that TikTok could be such a lucrative platform until I hosted my first live stream.
I was sharing my opinion on a particular matter and my viewers were sending me virtual gifts like hearts, diamonds, and roses.
As I ended the stream, I got to know that I could redeem those virtual gifts for real-world currency.
I was really very amazed realizing this feature that day, and of course, this is really a great and effortless way of earning.
8. Become a TikTok Consultant
Nearly every company today looks for a TikTok consultant, who could help them in building brand awareness.
They know that in today’s time, more than half of the world uses this platform as their primary source for almost everything, be it entertainment, news, learning, or purchasing, the list is quite long.
The ones who are experienced in this field are often approached to provide expert guidance on how to leverage the platform for marketing purposes.
These experts also get paid for their services, so if you think you have the potential to be a consultant, don’t miss out on this earning opportunity.
9. Promote Sponsored Content
To expand their followers, the content creators often collaborate with other creators who have similar content styles.
They do so not only to gain more followers but also to strengthen their network, monetize their content, and collaborate with reputable creators can also help you attract sponsors.
10. Participate in TikTok Challenges with Prize Money
There are brands that create their own challenges on TikTok and even there are great rewards for the winners.
On participating in such challenges, you get the opportunity to show off your creativity which not only helps you in gaining more popularity and followers, but the prize money.
11. Crowdfund Projects via TikTok
The term Crowdfund is a fund or money you raise from your followers who are willing to support you in a project or an idea you share with them via your videos and content.
All it needs is a video on the TikTok platform that describes your goals, using hashtags and slogans to motivate viewers to share the video as much as they can, setting up a donation link, and responding to the comments so you can encourage them to be your supporters.
12. Promote Your Services or Freelance Work
On TikTok, even freelancers can build awareness about their expertise and services and can strengthen their personal brand.
For instance, assume you are a graphic designer who is looking for clients.
So, instead of posting the portfolio on the website, you can create a short video showcasing your design process, and style, or else where you could let them know about your work.
13. Monetize UGC (User-Generated Content)
UGC (User-Generated Content), a content that is not created or sponsored by the company but by the content creators.
This is actually a great strategy of TikTok that assists in building a strong community and winning the trust of the viewers.
This way the creators can attract sponsorship as well as can give a great presence to their own product.
14. Drive Traffic to Your Blog or Website
Have you ever noticed hashtag icons in the descriptions of the videos of the creators?
That’s not just an icon, but a strategy for driving traffic to the blog or the website.
Let’s take an example of the cooking vlogger who shares the recipes for various varieties.
To reach a wider audience, and to drive traffic to the blog or the website, that creator will use the hashtags such as #cooking, #recipes, #foodie.
15. Sell Digital Products
Similar to selling physical products, you need to create an attractive and immersive video that describes your digital materials
Share with your viewers about them, such as what they are about, the benefits, prices, and availability, just simply try to gain their trust.
Must use a strong call to action such as “Buy Now” & “Clink the Link in My Bio”.
The most prominent respectfully respond to the comments and messages and answer all the queries.
Conclusion
Getting paid on TikTok is not a step-by-step manual as it requires time, perseverance, and the ability to change with time, since the platform is always evolving.
But there is definitely a way, and if you can see the path, and you know how to create compelling content, then turning your hobby into a business is a cakewalk.
And of course, do not forget that success comes from your ability to establish a strong relationship with your audience, and as mentioned it will not take you much to have free TikTok followers.
But must bear in mind that shortcuts are good to some limit only.
Therefore, try hard, interact with your viewers, respond to their comments and messages, and post content that not only relates but helps and inspires them.
Finance Writer
