Everything You Need to Know for TikTok Monetization in 2024

TikTok is experiencing a meteoric rise in popularity and this creates an opportunity for creators to convert their content into money. If you are a dancer, stand-up comedian or chef there is a way you can capitalize on your fame on TikTok and earn a sustainable income.

If you want to start making money from your TikTok account, then this is the guide for you. This blog delves into some proven strategies for TikTok monetization, helping you turn your content creation skills into a profitable venture.

Can You Monetize TikTok?

Yes, you can monetize your profile on the app. Millions of people share their talents globally via TikTok which focuses on creativity, entertainment, and virality. Many ask themselves though: can I monetize TikTok?

While it may take time but there are many effective ways one can use his/her TikTok profile to make money. Also, you have to meet some requirements to get your TikTok account monetized.

A Guide to TikTok Monetization Requirements

You must be at least 18 years old
Your account must have a minimum of 10K followers
You should have a minimum of valid 100K views in the last 30 days
You must abide by TikTok’s community guidelines
You must be residing either in Brazil, US, Germany, France, Japan, South Korea, or England.

The Best Proven Ways for TikTok Monetization

To climb the ladder of success on this app is not easy. You need to have a proper strategy and knowledge about the ways you can monetize your TikTok profile. To make you achieve this milestone a little bit easily, these are some of the best tips on how to get monetized on TikTok.

The TikTok Creator Marketplace

The TikTok Creator Marketplace acts as an interface between companies and individuals who create content. On this platform, users have access to brand campaigns that they can apply for based on their content type and target audience, and also negotiate deals with such brands. This official platform streamlines brand collaborations and offers opportunities for creators of all sizes.

Benefits of the Marketplace:

Streamlined Collaboration: Find and apply for brand campaigns efficiently without needing third-party agencies.
Brand Authenticity: Partner with brands that resonate with your content and audience for a more genuine approach.
Monetization Potential: The marketplace opens doors to potentially lucrative brand deals.

TikTok Creator Rewards Program

In February 2023, TikTok came up with a monetization idea that would reward creators of high-quality original content called the TikTok creator rewards program. It is a scheme that offers between $4 to $8 every 1K views. This can be an excellent way to make money from your TikTok videos.

But some requirements need to be met in this program which are almost the same as the TikTok monetization requirements mentioned above. Some extra requirements are the following:-

You should have a personal account and not a business account
You should abide by TikTok’s community guidelines

You are eligible for applying to TikTok’s creator’s rewards programs if you follow the above criteria successfully. Creators under the program have reported earnings ranging from $100 – $600 per million views and exceeding $1k per million views in some cases.

Engage Your Audience with Live Sessions

Ever wondered how to make money on TikTok Live? Yes, it is another way that TikTok creators makes money on the platform. One user claims he was able to earn as much as $ 34,000 within one month just using TikTok Live.

You just need to come up with something specific to do each time you go live so that your audience knows what to expect from you. You can also create a video to announce the live stream that will show up on the users’ For You page and entice new viewers to join and follow along.

Through Views and Followers

Do tiktokers get paid for likes? If this thought crosses your mind, the answer is No.

TikTok doesn’t directly pay creators for likes, but they do pay based on video engagement. TikTokers earn around 2 to 4 cents per 1k views.

This indicates an earning between $19 to $39 once your video has gained 1 million views. A viral video with 10 million views earns around $199 to $399. If you wish to have an instant boost in your views you can opt to buy TikTok views from a reputable growth service provider.

Also read – Why Is My TikTok Not Getting Views?

You can also receive virtual gifts from your TikTok followers that can be exchanged as currency. Viewers can offer two types of gifts to their favourite creators, Live gifts and Video gifts. They use coins to purchase TikTok stickers based on how much they want to gift a creator. It is a great way of TikTok monetization for creators on the platform.

Bonus Tips to Make Money on TikTok

Apart from TikTok monetization, there are some other ways through which you can make money on the platform. Let’s have a look.

Brand Collaborations

The brand partnerships are one of the best methods to use for TikTok monetization. Brands have started realizing that TikTok is a powerful tool to talk directly to potential consumers who are more involved in social media. If your followers are loyal and your videos fit the brand’s target market, you can enter into a partnership with them so that they promote their products through you.

Types of Collaborations-

Create Sponsored Content: Make content that easily fits in the message or product of the brand without appearing like an ad.

Brand Hashtag Challenges (HTC): Work together with a given company to launch a hashtag challenge that will make users come up with content using its product or embedding its message.

Live Shopping Events: Take part in live shopping events run by the brand where viewers can see products and interact with you at the same time.

Sell What You Do

If you do business or serve clients independently, then TikTok is a great place for showcasing your work and reaching out to potential clients. Here’s how you can sell your products or services to make money on this platform.

Showcase Product Features: Create compelling videos showing what your products can do for people.

Give Discounts and Offers: Give viewers exclusive discounts or limited-time promotions, so that they buy something from you.

Link in Bio: Use the link in bio option for people who want more information about what is being sold on this site.

Launch an engaging campaign: You can launch challenges and campaigns to engage the audience with your products

You also need to keep an eye on your profile views to estimate the engagement of your product on your account. To do so you can refer to the blog – How to see TikTok profile views history?

Gymshark is a fitness apparel brand with 5.4 million followers and 98.8 million likes. The brand’s primary goal was to build a fan-led community who connects with it’s products. But, the main challenge was to compete with the big players in this niche like Nike and Adidas.

To overcome this challenge the brand partnered with micro influencers on TikTok and started showcasing it’s products on TikTok profile.

The brand also launched a “Change your Life” campaign on TikTok engaged with a lot of audience giving it’s products an immense reach. If you are a struggling startup you can utlize this technique to boost sales and make money through TikTok.

Involve Affiliate Marketing in Your Strategy

Affiliate Marketing is a great answer to how to make money on TikTok. You can connect with brands you resonate with and market their products or services on your profile

Find your niche: Identify products relevant to your audience and partner with those brands’ affiliate programs (directly or through affiliate networks).
Create engaging content: Create TikTok videos that showcase the products in a fun and informative way. Don’t just focus on selling; provide genuine recommendations and highlight how the products benefit viewers.
Include affiliate links: While in-video links aren’t allowed, you can use your bio or a landing page with your affiliate links. Accounts with over 10,000 followers can also use clickable links in stories.

TikTok Affiliate Program

In the digital bazaar of today, TikTok’s Affiliate Program emerges as a bustling marketplace where creators and the platform create a symbiotic rhythm. It gives creators an opportunity to earn commissions by advertising TikTok ads manager to new users.

Emerging Money-Making Trends on TikTok

The platform is ever-changing with a dynamic nature and updates keep rolling out almost every day. As a creator, it’s necessary to stay on top of these ever-changing developments and reset your TikTok algorithms so you can utilize the maximum benefits of monetization on the platform. Here’s a sneak peek into some of these constant platform changes.

The Latest Creator Rewards Program

On March 12, 2024, TikTok updated its Effects Creator Rewards Program. The program serves as an extra source of income for eligible creators on the platform. It allows them to earn rewards for designing engaging TikTok effects within its platform, Effect House. Previously, to create rewards the effect needed to be used in at least 200,000 qualified videos but now the number is reduced to 100,000 videos.

Add To Music App Feature

TikTok announced the Add to Music App in November 2023, a new feature that allows music fans to save the song they discovered on TikTok on other music streaming platforms including Spotify and Amazon Music. Creators can use this feature to save trending music and sound from TikTok on other streaming platforms for later use. By utilizing trendy songs in their TikTok videos, creators can get more views on TikTok videos, leading to earning more money.

Subscription Plans for Non-Live Creators

TikTok has announced that it will expand its subscription feature which currently allows creators to offer monthly subscription plans for livestreams only. The main motive of these changes is to inspire creators to make long-form content too on the platform which is easy to monetize.

Conclusion

With this blog you have discovered how TikTok monetization works according to the latest trends in 2024. But, this is not the end. This ain’t a milestone that’s impossible to achieve, all you’ll need is consistency and basic audience research to surpass your peers.

Furthermore, monetization on this platform is less about making money and more about building a strong and supportive community. By creating videos, Creators just not only generate a source of income but also add a little fun to their audience’s life. When you foster a strong audience base on your profile, then this TikTok monetization will be truly rewarding for you.

Everything You Need To Know For TikTok Monetization in 2024