How to Make Money on TikTok 9 Ways for Monetization in 2024

Want to earn money from TikTok? Wondering how to make money on TikTok? You are not alone. Since TikTok is really a huge market! TikTokers with over 100,000 followers earned $200 to $1,000 per month through TikTok’s Creator Fund, while those with over a million followers tended to make $1,000 to $5,000 (or more) per month. In 2023, TikTok even ranked as the 6th most-used social media platform in the world, with over 3 billion downloads and over 50 million daily active users. This attracts many more people who want to utilize TikTok to make money.

But where do you begin? In this article, we will cover the top 9 tactics for earning money on the TikTok app. Now let’s look at how to make money on TikTok in 2024.

1. Join the TikTok Creator Fund

TikTok rewards creators for making original and incredible videos by offering funding in the form of the TikTok Creator Fund. But revenue varies from user to user and is calculated based on factors like the number of video views, the authenticity of the views, and the level of engagement on the content.

To participate in the Creator Fund, you must meet certain eligibility requirements:

To maximize earnings from the TikTok Creator Fund, focus on creating engaging content that resonates with your target audience.

2. Partner with Brands or Influencers

Collaborating with brands or other influencers can open the doors to substantial earnings on TikTok. Brands often seek partnerships with creators who align with their products or services and pay creators to feature their products and services. These collaborations include sponsored content, product reviews, or even long-term ambassadorships.

To attract brands, ensure your content aligns with your niche, and that your engagement rates are high. And make sure you only reach out to brands you really love.

3. Sell Your Products through TikTok Shop

Selling your own products is a great way to make money on TikTok. TikTok Shop offers brands the opportunity to sell their products directly into the TikTok app. You can showcase and sell your products via in-feed short videos, Live Streams, and the Product Showcase tab in your Profile on your TikTok app.

Kindly refer to these articles(TikTok Shop Philippines, TikTok Shop Malaysia) to know how to set up a TikTok Shop and sell your products on TikTok. To manage your multiple TikTok Shop stores, together with those in Shopee and Lazada, or improve your business efficiency, you can sign up for a BigSeller account and manage your products, inventory, and orders in one place.

4. Participate in Affiliate Programs

You do not need to have and sell your own merch to your fans. You can also use affiliate marketing to link out to other’s products or services and you will earn a percentage of every sale when a follower clicks through and makes a purchase. If you are wondering how to become a TikTok affiliate, get started here and select Creators in Join TikTok Shop Affiliate now. You can be a affiliate of multiple brands or sellers and make sure you will select products to promote that align with your niche and resonate with your audience.
How to Make Money on TikTok: 9 Ways for Monetization in 2024


5. Create Content to Promote Your Products or Services

If you’ve already established merchandise through setting up a TikTok Shop or joining the Affiliate Program, this is the most obvious route for money making: create short videos on TikTok that show off the products or services, including all the details that make them unique

Make sure you include a link to your website (For example, the link of your Shopee shop) in your bio.

6. Run TikTok Ads to Drive Traffic 

Sometimes, organic views just don’t cut, so you have got to first spend money to make money. TikTok offers a self-service advertising platform that enables you to create and run ads to promote your products, services, or even your TikTok account itself. TikTok ads appear on the “For You” Page of TikTok users who meet your targeting parameters and auto-play like any other TikTok videos. To make your TikTok video ad, you need to first have a TikTok business account.

By strategically targeting your audience based on demographics, interests, and behaviors, your videos can reach audiences that are most interested in your products and also drive more traffic to your TikTok profile or external websites.

7. Go Live and Collect Virtual Gifts

Live Streams are not only a platform for real-time interaction between creators and audience but also serve as an alternative revenue stream. During a live session, viewers can purchase virtual gifts on TikTok’s platform and send them to the creators as tokens of appreciation. The more engaging your livestream, the more likely you are to receive gifts. The virtual gifts can be converted into “Diamonds” (a form of in-app currency) and the content creators can subsequently exchange those “Diamonds” for actual money. TikTok shares a portion of the revenue generated from virtual gifts with you.

Jump to this article to learn how to start a live stream and get more viewers on TikTok Live.
How to Make Money on TikTok: 9 Ways for Monetization in 2024


8. Offer Consulting Services

If you have a lot of expertise in a particular field, you might consider offering consulting services to others looking to expand their presence on TikTok.

Many businesses and individuals are willing to pay big bucks for guidance on how to appease the algorithm, content strategy, audience engagement, and TikTok marketing.

Market your consulting services through your TikTok profile and other social media channels. Showcase your expertise and the results you’ve achieved to attract potential clients.

9. Enroll in TikTok Rewards & Refer Your Friends

You can make money on TikTok without even having a single video or follower. TikTok has a referral program known as the TikTok Rewards Referral Program, which lets you earn TikTok rewards points by inviting your friends to join the platform. When they download the TikTok app and complete tasks, both of you will be able to earn TikTok rewards points.

Copy your unique referral link or invitation code from your profile and encourage your friends, contacts or followers to sign up for TikTok using your referral code – and these reward points can be eventually redeemed for actual money!

How to Make Money on TikTok: 9 Ways for Monetization in 2024



The above 9 strategies can put you on a clear path to leveraging TikTok to earn money. Read carefully and select the way(s) that best suit you and start making money on TikTok.