How to Make Money on TikTok in 2024: 7 Proven Strategies

Ready to learn how to make money on TikTok, so you can get paid for the hours you spend creating content? 

With millions of active users and a constantly evolving platform, TikTok offers a variety of opportunities for creators to turn their passion into profit. But with so many accounts vying for attention, how do you stand out and start generating income on TikTok in 2024?

In this post we explore seven effective strategies to monetize your TikTok presence, taking into account the latest trends and features. Whether you’re a seasoned content creator or just starting your journey, these tips can help you unlock your earning potential on TikTok.

1. Partner with Brands for Sponsored Content

Brands are increasingly recognizing the power of TikTok to connect with Gen Z and millennial audiences. This opens a door for you to collaborate with relevant brands and create sponsored content that resonates with your followers.

If you want to partner with brands to make money on TikTok, you’ll want to choose a niche. The more targeted your content niche, the more attractive you become to specific brands. 

This is why it’s better to focus on creating content within a specific category like fashion or gaming to attract brands that align with your audience’s interests.

Consider platforms like Tribe or Influencer that connect creators with brands for potential partnerships.

2. Make Money on TikTok Creator Marketplace

The official TikTok Creator Marketplace is a game-changer for monetization. Here, brands can directly publish campaign briefs for creators to apply to. If your content aligns with the brand’s needs, you could be chosen to create sponsored content and earn money.

To be eligible for the Creator Marketplace, you must have at least 10,000 followers and have generated at least 100,000 video views in the last 30 days.

The marketplace prioritizes creators with high-engagement rates and polished content. So, it’s important to create visually appealing and engaging videos to improve your chances of getting selected for campaigns.

If you’re interested in creating visually appealing and engaging videos but you’re not sure where to start, check out some of our editing plans here at Clipmasters.

3. Make Money on TikTok with Affiliate Marketing

Do you rave about a specific phone case you just bought? Or perhaps you can’t get enough of that new fitness tracker you use in your workout clips? 

Affiliate marketing allows you to promote products you genuinely love. In return, you earn a commission when viewers purchase through your unique affiliate links. But remember that organic integration is essential! Don’t just bombard viewers with affiliate links, they’ll get tired of that fast. 

A better strategy is to authentically weave product recommendations into your content. For example, in a makeup tutorial, you can highlight a specific lipstick you love. Use the video to showcase its benefits, and then mention your affiliate link in your bio. This way, interested viewers, can purchase it.

Justice Buys is a popular TikTok influencer with over 1 million followers. He regularly posts videos promoting various products available on Amazon, including seasonal items, kitchen gadgets, and home goods. 

These videos garner millions of views and Justice earns commissions from these views by directing his audience to his website, which contains affiliate links to the products he features. This is a prime example of how Justice is able to make money on TikTok when his followers purchase products after clicking his links.

Popular platforms like Amazon Associates and ClickBank offer a vast selection of products you can promote. Choose programs that complement your content niche and target audience for optimal results.

4. Offer Exclusive Content Through Live Streams and Challenges

Live streaming on TikTok allows you to connect with your audience in real-time and create a sense of community. You can utilize live streams to offer exclusive content, host Q&A sessions, or even run challenges with virtual rewards to incentivize participation.

If you have live content to share, and a handful of fans who are willing to pay to watch it, this is a scalable way to get paid for your live streams.

When you go LIVE on TikTok you will notice icons pop up, these icons are from your audience. At the end of your live video, locate your Live summary details and this is where you will find how many gifts you were given. The number of gifts is then converted to Diamonds. 

There are several different icons and the icons come with different amounts of money. For example, the rose icon is the cheapest gift costs 1 TikTok coin and equates to about 1.4 US cents and the Universe gift is the most expensive, costing 44,999 coins, which equates to about $562 US dollars. 

There are about 100 TikTok gifts available, with prices ranging from as low as $0.012 which is 5 virtual TikTok coins to as high as $500 which is 35,000 TikTok coins. These icons are constantly being changed and updated. 

To be able to receive gifts, you must be a part of the TikTok Creator Next Program. After you have received the gifts you can check your balance and withdraw any preferred amount as long as you have connected your account to your PayPal. 

5. License Your Videos to Brands and Media Outlets

Your viral TikTok creation has the potential to become a valuable asset for brands and media outlets. Here’s how to leverage video licensing for TikTok monetization.

The first thing you’ll want to do is identify potential licensees. Brands you’ve partnered with for sponsored content, websites focusing on your niche, or even educational platforms looking for engaging content could all be interested in licensing your videos. 

Research potential partners who could benefit from your content to add value to their audience.

It’s also important to highlight your best work and create a compelling portfolio showcasing your most successful TikToks. Include clear descriptions with engagement metrics (views, likes, comments) to attract potential licensees. 

Before finalizing any deals, ensure you grasp the terms of the licensing agreement. This includes:

 

• • Duration of the License: How long can the licensee use your video?

• • Platforms for Usage: Where can your video be used (e.g., website, social media, TV commercials)?

• • Attribution Requirements: Will you receive proper credit for your work?

• • Compensation: This is crucial! Ensure you’re fairly compensated for your creation. Consider consulting a lawyer specializing in copyright law if dealing with complex agreements.
    
    
    

6. Make Money on TikTok with Your Own Merchandise or Products:

Do you have a unique design sense or a catchy catchphrase? Turn it into merchandise! TikTok is a phenomenal platform for promoting your own products, fostering a strong connection between you and your audience.

If you want to make money on TikTok by selling merchandise or products then you must identify product ideas: Consider what resonates with your audience. Explore creating t-shirts, phone cases, tote bags, or even stickers featuring your designs or popular catchphrases.

Sara and Misc does a great job of showcasing her print art as a way to make money on TikTok:

You can do the same by wearing a particular t-shirt in a video, subtly displaying phone cases in the background, or creating a dedicated video highlighting your product line. Utilize clear calls to action, directing viewers to a link in your bio where they can purchase your products.

 Also consider creating limited-edition merchandise or offering exclusive designs to viewers who participate in challenges or giveaways. This incentivizes engagement and boosts sales. Then you can utilize print-on-demand services like Printful or Redbubble to handle order fulfillment, printing, and shipping, allowing you to focus on creating and promoting your merchandise.

7. Become a TikTok Consultant or Offer Paid Services:

As your expertise on the platform grows, you can leverage your knowledge to help others succeed. Here are some ways to offer paid services on TikTok:

 

• • Consulting: Offer consulting services to brands or businesses looking to expand their TikTok presence. Help them develop a content strategy, create engaging videos, and navigate the latest trends.

• • Coaching: Provide personalized coaching to aspiring TikTok creators. Share your knowledge on video editing, content creation, and audience engagement strategies.

• • Workshops or Courses: Create online workshops or courses teaching valuable TikTok skills like video editing, special effects creation, or growth hacking strategies. Promote your offerings through your TikTok profile and leverage other social media platforms to reach a wider audience.

Check out some examples of how TikTok creator Keenya Kelly leverages her experience to teach other entrepreneurs how to make money on TikTok: 

By implementing one or more of these strategies, you can transform your passion into a business and start making money on TikTok.

Here at Clipmasters.io, we know how important it is to create high-quality engaging content. If you want to stand out on TikTok but could use some help with video editing, then check out our different plans and find the right tier for your business.

With consistency, creativity, and regular audience engagement you too can unlock your earning potential on TikTok.