How to make money on TikTok: Best 15 strategies to use in 2024

2024 TikTok has remained a vastly popular social media platform since its inception, capitalizing on its early fame as people gravitated toward its light, short-form content. This surge in popularity means TikTok is ripe with revenue opportunities, something that your TikTok marketing strategy should make room for.

How to make money on tiktok

Now From the #TikTokMadeMeBuyIt trend to devoted subcultures like #BookTok, brands are finding creative and authentic ways to position and sell their products or services directly to TikTok audiences. You can too, by making engaging and helpful short videos that speak directly to your audience’s interests.

But where do you begin? In this article, we break down the top 15 strategies for how to make money on TikTok, updated to include changes to the creator fund announced in November 2023.

2024 Join the TikTok Creativity Program/ Creator Fund

Since 2024 TikTok has offered its most popular creators a program to monetize content. In November 2023 TikTok announced some changes to how this works, depending on where you are located in the world. TikTok are shutting down the Creator Fund for users in the US, UK, Germany and France and replacing it with the Creativity Program starting December 16th.

TikTok says the new fund will enable creators in these countries to make more money for video uploads over a minute. To join, users must have at least 10,000 followers and 100,000 views in the last 30 days. Earnings will also be based on views and other TikTok engagement metrics.

Are you a creator in Italy and Spain? Users in these countries can still monetize their profiles through the TikTok Creator Fund. Creators need to hit some prerequisites to join the program and begin receiving money from the platform. Creator Fund members earn money based on the number of engagements they get on their content.

Run TikTok ads Plt

About 67% of 18-19 year olds and 56% of 20-29 year olds are on TikTok. This makes TikTok marketing a strong advertising choice for brands wanting to market their products to Gen Z. TikTok ads come with simple, powerful tools to help you advertise to millions of users. Ad formats vary by region, but all let you personalize your targeting by age, location, interest and other factors. You can select one or a few formats that work best for your brand.

The most popular types of TikTok ads include:

In-feed video: Appear on the For You Page of TikTok users who meet your targeting parameters.

Brand takeover: This lets your ad expand to the width of the whole screen for a few seconds. Then it becomes an in-feed video ad.

Hashtag challenges: Create appealing challenges that encourage user-generated content. These challenges appear in the Discovery section on TikTok. This option is only available to managed brands that work in collaboration with TikTok sales representatives.

There are several more types of TikTok ads you can experiment with, but note that some are only available to certain types of accounts.

Collect tips or donations

TikTok has introduced a tipping feature that allows select creators to earn money from tips and donations. Fans can use this feature to show gratitude to the creators they love.

Video gifts let viewers send creators virtual gifts and coins. Some creators can collect gifts during a live stream. Gifts can be redeemed for Diamonds—TikTok’s digital currency.

When you save up enough Diamonds, you can trade them for real cash.

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