How to Monetize Your TikTok Account in 2024: In a very short time, TikTok has become a social network used by millions of people worldwide.
It has gone from being a simple social entertainment network to a platform where you can earn money thanks to your content and community. This is also known as TikTok monetization.
So if you are wondering how to monetize on TikTok and make money on this social network, this post is for you. Keep reading!
10 Ways to Make Money on TikTok
Yes, you can make money with TikTok in several different ways, and I am here today to tell you ten of them. Choose the one that best suits your content strategy!
TikTok Creativity Program
Previously called the Creator Fund, TikTok created an improved fund for content creators to earn money on the app, called the Creativity Program.
There are a few requirements to apply for this program, including having at least 10,000 followers and at least 100,000 video views in the last 30 days.
Another key element is that creators must post videos that are longer than a minute to receive compensation through this program. However, TikTok has claimed that creators can earn up to 20 times more than offered through the Creator Fund.
Live streaming on TikTok
Did you know that you can earn money on TikTok with your live broadcasts? Accounts with more than 1,000 followers on TikTok can start live streaming and monetizing their videos.
Users can buy coins that they later give away to users who are making live videos. When content creators make live videos and receive donations or coins, they can exchange them for real money.
For more information on TikTok gifts including how to set them up, how to send them, and how much they are worth, click the button below:
TikTok Creator Marketplace
Creator Marketplace is the official platform for brands and content creators to create advertising-based content to promote brands and receive compensation for their work.
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.
If you meet these requirements and want to work with brands you trust, you can apply to brands that have “open campaigns.” Brands can also invite you directly if they are interested in collaborating with you.
Affiliate Marketing
Affiliate marketing may seem similar to what was described in the TikTok Creator’s Marketplace, but it’s slightly different. With affiliate marketing, you can connect with brands or businesses you trust and promote their products online.
How it works is, that when followers purchase the products through the link or code that you provided, you will receive a commission from the brand for that sale. However, to do this, you have to have a business account to place clickable links inside video descriptions or in your bio.
TikTok Shopping
If you are a small business owner, this TikTok monetization option is great if you want to grow your visibility. The next way to make money on TikTok is by opening a TikTok Shop and selling your products online.
TikTok partnered with Shopify so now you can sell directly through the app. There are some requirements before setting up your shop, but if you meet these, you can spread the word about your business through in-feed videos, live, and product showcase tabs.
For a full step-by-step tutorial on the TikTok shop, click the button below:
What Do You Need To Get Started With TikTok Shop?
Choose your business type and be sure to submit all relevant documents. After this, you will wait for approval from TikTok. This usually takes 2-3 days. Once the approval goes through you can now link your bank information and begin selling!
How Do You Add Products to TikTok Shop?
This will be done in the Seller Center. You will receive step-by-step information here and you will be able to upload all of your products as long as they follow the TikTok Qualifications. You Must select the products you would like to upload by either selecting the checkbox at the top of the page or by selecting individual items with the checkboxes. You can select up to 50 products per page and if you have more your products will begin on a new page.
How Can You Promote Your Products?
Some key tips to promote your products would be to:
- Optimize your catalog for TikTok. Be sure your TikTok storefront is in your bio. Also, be sure your storefront is organized and showcase your popular items first. Your products should have a clear description, with as much detail as possible.
- Post about your TikTok Shop. Shout it from the rooftops! Make sure your audience knows about your shop and the items that you are selling. Make sure your audience knows where to find your items. TikTok Playlist helps immensely with this. TikTok Playlists or creator playlists are a place where creators can organize their types of content so it is easily accessible to their viewers.
Showcase your items in consistent posts and lives. Get creative with your promotions, share stories about how you came up with your items, offer some humor, etc.
Partner with Influencers. Put some of the work into the hands of creators who are in tune with the trends, slang, and culture of each platform. For more information on where to start with influencers, click the button below:
How Can Customers Buy Products on TikTok Shop?
Through live shopping streams, shoppable videos in the feed, and product showcase tabs. You can also shop for products by through scrolling your feed or watching TikTok Lives. TikTok shop makes it easy because instead of toggling between links, you can purchase products directly through the app. Now TikTok has a whole page as well dedicated to TikTok Shop where you can deal, explore more, and search for specific items.
TikTok Ads
Another way to drive sales to your business or e-commerce site is by running TikTok Ads. Although they require investment, they are simple to use and allow you to enter details to target your specific audience.
To create a TikTok Ad, you first must create a TikTok Ads Manager account. All you have to do is enter in basic details and agree to the terms and conditions. Once your brand is approved, you can enter the dashboard and start creating your ad!
Inside the dashboard, go to the “Campaigns” tab and click on “Create.” From here, you can give your campaign a name, set a budget, define your target audience, select where the ad will appear on TikTok, and finally upload a video or image to be the face of your campaign! So while TikTok aligns your ad with the right audience, you can sit back, relax, and watch your sales increase.
TikTok has also launched Promote, a way to turn organic content into ads, directly in the app. The requirements for this are minimal, as you only need to be at least 18 years old, and agree to the TikTok Promote Terms of Service and other policies.
Collect tips or donations
With TikTok’s tipping feature, creators can receive money from fans. Viewers can send virtual gifts and coins to creators, which can be redeemed for Diamonds, TikTok’s digital currency. Other third-party platforms can also be connected to your TikTok account where fans can tip creators.
As with most TikTok monetization processes, there are some requirements, so make sure to review those to see if you can receive tips from your fans. If you get the green light, you can apply and view your tips inside your dashboard.
TikTok Pulse
TikTok Pulse is a way for advertisers to boost their brand’s content on the For You page. This contextual advertising is also an effort for the network to give back to its users, with the first-ever ad revenue-sharing program.
Select creators can receive a 50% split of ad revenue from TikTok, and brand ads will appear in the top 4% of content on any given day.
TikTok’s aim for this feature is to highlight the culture and trends created and shared on the app. They are allowing the space for brands to integrate with this culture and be a part of the conversation. This means that TikTok is bridging the gap between brands and culture, creators and entertainment.
View the requirements and details to join this program and start creating your Pulse campaigns.
TikTok Series
Series are another monetization option, allowing creators to share Collections, that users can purchase for viewing access. This is essentially exclusive content, that is only viewable upon purchase. One series can have up to 80 videos, each with a max of 20 minutes.
This option is currently open to select creators, who meet these requirements:
- 18 years or older.
- Have an account that’s at least 30 days old.
- Have at least 10K followers.
- Have posted at least three public videos in the last 30 days.
- Have at least 1K authentic video views in the last 30 days.
Video Gifts
Video gifts are another way to make money on TikTok. By enabling Video Gifts, you can collect Diamonds based on the popularity of your video. There are a few requirements to apply for this feature. These include:
- Live in a region where Video Gifts are available.
- Be at least 18 years old.
- Have at least 10K followers, with an account that is older than 30 days.
- Have published a public video in the last 30 days.
- Follow TikTok’s Community Guidelines and Terms of Service.
Note that to enable video gifts, you must have a personal account, as business accounts aren’t eligible. Also, videos are ineligible for gifts if they include Duets or Stitches, Ads, promoted posts, or sponsored content.
If your account meets these requirements, you can apply by heading to your Profile, clicking on Menu > Creator tools > Video Gifts > Apply.
Advertisers find influencers or content creators who can promote their brand or specific products, and the platform offers data and tools … to make collaborations between both parties easier.
And these are the ideas that we offer you on how to monetize your TikTok account. Do you use any of them? To learn more about marketing on TikTok, here is a guide to help you succeed on the network.
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