How to Monetize Your TikTok Account in 2024
With nearly 2 billion monthly active users, TikTok has become a leading social media platform for brands, creators, and marketers to promote their products or services. More and more are tapping into TikTok’s rapid growth, engagement platform, and monetization opportunities. If you want to grow your TikTok presence, generate consistent revenue, and promote your brand, this article will demonstrate how to monetize your TikTok account in 10 different ways.
Our 2024 Social Media Study found that TikTok has the most growth potential compared to other platforms. Regardless of your account size, the TikTok algorithm rewards high-quality content over follower count.
9 Ways to Make Money on TikTok in 2024
Find nine ways to make money on TikTok, for creators, brands, and business owners.
1. Join the TikTok Creator Rewards Program
Previously known as the TikTok Creator Fund, the network created the Creator Rewards Program, an improved rewards feature for creators to monetize content. To sign up for the program, you must have the following requirements:
- Must be 18 years of age or older
- Have at least 10,000 followers
- Have at least 100,000 video views in the last 30 days
- Post original content that’s eligible for rewards
- Published videos have to be at least one minute
- Be based in eligible countries
- There is no account history of Community Guidelines and Terms of Service violations.
This program rewards creators’ high-quality content, encouraging creativity and high revenue potential. Rewards are calculated based on qualified views and rewards per 1,000 qualified views (RPM). Find more details on TikTok’s website.
2. Collaborate with a brand or creator
The TikTok Creator Marketplace is the official platform for brands and creator partnerships. High-quality branded sponsorships and influencer marketing campaigns can thrive on TikTok, winning both parties’ revenue and awareness. Partnering with a TikTok influencer or creator can boost a brand’s advertising view-through-rate by 193%
There are also some requirements to join, which include the following:
- Be at least 18 years old.
- Own a Personal (or Creator) account. Business accounts are not eligible.
- Have over 100,000 followers.
- Have uploaded at least 3 videos in the last 28 days.
- Received over 100,000 likes on their videos in the past 28 days.
- Live within the 24 countries where TikTok Creator Marketplace is available.
Check your eligibility and apply inside Creator Marketplace on the TikTok app or TikTok Studio. Creators can apply to open campaigns and brands can directly invite creators.
3. Tap into affiliate marketing
Many brands have launched affiliate programs for creators to earn money through product promotion. For example, the Amazon’s Associates Program and Shopify’s Affiliate Program. There are also a variety of affiliate marketplaces to match brands and creators. Popular platforms include Impact, Rakuten Advertising, ClickBank, CJ Affiliate, and ShareASale.
Affiliate marketing on TikTok allows creators to promote their products uniquely, thanks to shopping, linking, and interactive features.
4. Open a TikTok Shop
Business owners and e-commerce stores can create a TikTok shop for direct in-app sales. TikTok partnered with multiple e-commerce platforms like Shopify, Squarespace, Wix, and more, so now you can sell directly through the app.
The requirements to set up a shop include:
- Located in the United States
- You must be at least 18 years old
- You must have a valid US passport, driver’s license, or state ID
- Use a phone number and email associated with your TikTok Shop
- Accurate shop name
- Tax information
- Bank information
Here is the full list of TikTok Shop merchant and website integrations and more information for your website’s TikTok Pixel and Events API.
Some key tips to promote your products would be to:
- Optimize your catalog and products for TikTok. Be sure your TikTok storefront is in your bio. Your storefront should be organized and showcase your popular items first. Products should have a clear description, with as much detail as possible.
- Post about your TikTok Shop. Create original, high-quality content to promote your products or services. Audiences are drawn to authentic, relatable videos that target key pain points or desires.
- Showcase your items in consistent posts and lives. Get creative with your promotions and share your personal experiences. Offering humor, real-life examples, and results are likely to resonate with users
- Add clear CTAs to your captions and descriptions to drive traffic and encourage viewers to perform a specific action.
5. Collect tips or donations on LIVEs
Creators and brands can earn tips from fan donations on live streams. Views can leave virtual gifts and coins on the creator’s posts and LIVE videos, which can be redeemed for Diamonds, TikTok’s digital currency.
The requirements to collect Diamonds include:
- Live in a country where Diamonds are available.
- Be 18 years of age or older.
- Be eligible for features that allow you to collect Diamonds.
- Good standing accounts that adhere to the Community Guidelines and Terms of Service.
Source: tiktok.com
6. Launch TikTok ads
TikTok ads can reach 13.6% of the world’s population and is the third most popular social media platform behind Facebook and Instagram. Advertising on TikTok can be a strong social-selling channel, with a seamless in-app experience and impulsive audience.
TikTok campaigns can boost sales and brand awareness on the app, especially when high-quality, eye-catching video assets are used.
Follow this TikTok ad guide about ad types, placements, objectives, and best practices for launching your first campaign.
7. Sell digital products or services
Product sales are still possible without launching an ad campaign. TikTok’s in-post links and links in bio allow businesses to drive traffic and educate their audience about their digital products or services.
Link in bio tools like Linktree, Metricool, and Stan Store offer customizable link pages. Creators and brands can promote multiple products and URLs on a single page, with the option to add branded images, colors, logos, and fonts.
For example, Metricool’s SmartLinks offer themes, custom descriptions and backgrounds, and adjustable link buttons. This feature includes click-through analytics to understand your top-performing actions.
8. Offer exclusive content subscriptions
TikTok expanded its content subscription program, allowing eligible creators to share private communication channels, exclusive content, community identifiers, and customized perks with subscribers.
The criteria for subscription eligibility are:
- Creators must be at least 18 years old
- Have an account in good standing with at least 10k followers
- Have 100k video views in the past calendar month OR
- Meet specific LIVE eligibility requirements
Creators can check their eligibility within TikTok Studio, under the Monetization section. TikTok subscriptions include three pricing tiers, allowing creators to provide multiple package options.
9. Try UGC
UGC, short for User-Generated Content, has become increasingly popular on TikTok for its authentic nature and messaging. While traditional UGC was not paid, brands have established UGC marketing to reward genuine customers.
For aspiring UGC creators, designing a professional portfolio to exemplify your work to brands is more likely to land you a collaboration. This also allows creators to set fair prices and showcase their niche talent.
TikTok School: Transform Your TikTok from 0 to Pro
Metricool’s free TikTok course is a three-week journey to transform your TikTok presence, from basics to advanced strategies. With examples and actionable content, tap into your creativity and elevate your content to attract, convert, and foster your online audience.
What can you expect from this course?
- On-demand and unlimited access to all modules and resources, even after the course ends.
- Templates, homework, and real-life examples to apply in realistic scenarios.
- Three-week email guide to accompany you with extra content and useful tips.
