How to Make Money on TikTok in 2024
5 min read
Many of these tactics can be executed by a business, but others require you to make TikTok your business. For example, any brand can use TikTok ads to drive traffic to their ecommerce store, but you’ll need to invest more dedicated TikTok time into making money through TikTok’s Creator Fund or by becoming a brand ambassador.
You either have a business you promote through TikTok—or you are the TikTok business.
Without further ado, let’s look at how to make money on TikTok in 2024.
1. Join the TikTok Creativity Program/ Creator Fund
Since 2020 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.
02. Promote partnerships
Brands use influencer marketing on TikTok very similarly to how they do on platforms like Instagram or YouTube. Since TikTok is entirely video-based, brands look for authentic personalities who have strong video content and an audience who trusts them. As a creator, you want to choose brands that align with your content and that’ll interest your audience.
To start, create a few non-sponsored videos of your favorite products. This provides brands proof of the value you bring product promotions.
After Lil Nas X’s breakout success with his song Old Town Road thanks to TikTok, other creators have partnered with emerging musicians to promote new songs. These are called audio sponsorships, or when an artist pays a TikTok creator to use their song in one of their clips. The clip might not explicitly promote their song, but rather show a dance or a video in the creator’s particular style with the music in the background.
03. Get paid by TikTok
To apply for the Creativity Program (formerly called the Creator Fund), users need to meet the following requirements:
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Be at least 18 years-old
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Be a TikTok Pro user
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Be based in the US, UK, Germany, Spain, France or Italy
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Have a minimum of 10,000 followers on TikTok
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Have a minimum of 100,000 unique video views in the 30 days before applying
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Comply with the TikTok community guidelines and terms of service
How to get started with TikTok advertising
Besides those marketing tactics, you could also invest in paid advertising on TikTok to further boost your brand’s impact on the app’s audience. With the app’s immense popularity, TikTok ads could be a great addition to your social media advertising strategy.
Which brands should use TikTok advertising?
A wide range of brands advertise on TikTok—Chipotle, Guess and Fenty Beauty, for example. What these brands have in common is that their products are a natural fit for TikTok’s video format.
TikTok advertisers can show their products in action and pack a lot of information into a short video clip. While this format may be challenging for B2B brands that sell difficult-to-illustrate services, it’s ideal for B2C brands that want to move away from static ads and share engaging content.
What kinds of ad formats can you place on TikTok?
There are several ad formats you can use on TikTok. The bread and butter of TikTok advertising is in-feed video ads—ads that appear as someone is swiping through the app to watch videos.
These are the most affordable and accessible ads offered by TikTok, and also the ones we’ll be focusing on in this tutorial. They make the most sense for small to medium-sized businesses and are a great starting point for a TikTok campaign.
Types of TikTok ads
Ah, the age-old question: What’s your type? Read on for a list of the different kinds of advertising available on TikTok (not every type of Tiktok ad is accessible in every country, so make sure to confirm your local availability).
In-feed ads
In-feed ads on TikTok are ads that you can create yourself using the TikTok Ads Manager interface.
TikTok Video Ads
This is one of the most common forms of TikTok advertising. Video ads are made by brands or creators and posted through a TikTok Ads Manager account.
Video ads look like regular TikToks, but any interaction with a video ad leads to a landing page or an app install—in other words, TikTok video ads link directly to whatever is being advertised.
Source: TikTok
For example, this video ad for the Super Mario Bros. Movie appears just like your average TikTok. But when you tap the account name (or the custom call to action button), you’re taken to a landing page for the movie showtimes.
Video ads will appear automatically in a user’s feed for as long as the advertiser has paid for them. They are not permanent posts, and cannot be duetted or stitched.
Spark Ads
Spark Ads are different from regular video ads in that they boost organic content from any user’s TikTok account. They appear in your profile just like your other TikToks, and won’t disappear once you stop paying to promote them.
Source: TikTok Business Help Centre
Spark ads can be duetted or stitched, which allows your audience to more meaningfully interact with them (for better or for worse).
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