How to Make Money from TikTok: A Step-by-Step Guide for 2024
Do you wish to convert your time and mobile data on TikTok to cash?
TikTok’s astounding growth, with over 3 billion app downloads and a daily active user base of 50 million as of 2023, underscores its position as a top-tier social media platform.
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This thriving digital landscape offers fertile ground for monetary pursuits.
Many have already tapped into TikTok’s potential as a revenue stream, with some treating it as their primary profession.
If you’re contemplating diving into TikTok for profit, whether as a main hustle or a side gig, you’re in the right place. Keep reading for expert advice on monetizing your TikTok activities.
.In this guide, we explore the myriad ways on how to make money from TikTok using your mobile phone.
How to Make Money from TikTok: Diverse Avenues
1. Embrace ‘TikTok Creator Next’
TikTok Creator Next is a gateway to the app’s monetization features. It’s designed to help creators turn their growing communities into profitable ventures. Joining TikTok Creator Next unlocks various tools to monetize your creativity and passion.
Eligibility Criteria for TikTok Creator Next:
- Be 18 years or older.
- Upload at least three videos in the past 30 days.
- Garner a minimum of 1,000 views in the last 30 days.
- Achieve the required follower count specific to your region.
- Reside in eligible countries like the US, UK, Germany, France, Italy, or Spain.
- Business accounts are excluded.
Each monetization feature within TikTok Creator Next has unique eligibility requirements.
2. Collaborate with Leading Brands
If you have a large followership on TikTok, you can venture into influential marketing by promoting top brands.
Sponsored content on TikTok involves creating content in exchange for value. This could be monetary compensation or other forms of remuneration.
Choose collaborations that align with your values and audience interests to maintain authenticity.
3. Direct Product Sales via TikTok
The TikTok Shop feature allows direct e-commerce integration within the app. Creators can partner with brands to sell products through TikTok Live, product showcase pages, and TikTok videos.
Requirements for Sellers and Creators:
- Be located in eligible regions like the UK, Indonesia, Hong Kong, or mainland China.
- Provide necessary documentation including ID, business incorporation certificate, and local phone number.
- Creators must have a good standing account, over 1,000 followers, at least 50 video views in the past 28 days, be over 18, and have uploaded a video in the last 28 days.
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4. Earn via Affiliate Marketing
Affiliate marketing on TikTok involves promoting products through affiliate links. You can earn commissions on sales made through these links, often placed in your bio.
5. Promote Your Own Products or Services
If you have your own products or services, use TikTok videos to showcase them. Ensure your bio includes a link to your website for easy access.
6. Drive Traffic with TikTok Ads
Investing in TikTok ads can enhance your reach, whether for growing your TikTok audience or directing traffic to your e-commerce site.
TikTok’s ad platform offers various options like in-feed ads and branded hashtag challenges.
7. Offer Exclusive Paid Content
Consider offering premium content outside TikTok, such as on Patreon. This could include special video series, access to exclusive community channels, or live chats. Ensure the content is valuable to retain subscribers.
8. Receive Viewer Gifts
TikTok allows viewers to gift creators during live streams or videos, which can be converted into cash. To benefit from this, you need a large and generous audience.
Gifts Conversion Process:
- TikTok users buy coins and exchange them for gifts.
- Gifts can be given to creators who are part of TikTok Creator Next.
- Creators can convert gifts into money.
9. Earn Tips from Fans
If you’re part of TikTok Creator Next and live in a region where tips are available, you can receive tips directly from your audience through a linked Stripe account.
10. Make Money through Referrals
The TikTok Rewards referral program allows you to earn by referring friends to TikTok. Share your unique referral link, and earn reward points as your friends sign up and engage on TikTok.
TikTok Earnings in 2024
Your earning potential on TikTok varies based on your chosen monetization strategy. Brand deals can fetch up to $100,000, while the TikTok Creator Fund pays between two to four cents per 1,000 views.
Leveraging TikTok’s expansive user base and diverse monetization strategies can turn your creative content into a profitable venture.
With this guide, you’re well-equipped to navigate the myriad opportunities TikTok offers for generating income in 2024.
