How Make Money on TIKTOK in 2024? The 5 Tips and Strategies
Discover the best strategies for making money with TikTok in 2024. Our exclusive guide is the result of interviews and collaborations with more than 600 content creators on TikTok, each generating more than EUR 2,000 per month. Our strategies cover in-app (directly on the TikTok application) and out-app (outside the application) remuneration solutions, because it is indeed possible to use your expertise or community on TikTok to monetise it in other ways. Increase your reach and virality on TikTok to maximise your chances of generating buzz and optimise your sources of revenue.
Prerequisites for earning money on TikTok:
For tips 1 and 2, which are tips for earning money on TikTok in-app (direct payment via TikTok), it's important to note that theThe TikTok application has certain prerequisites. These include, for example minimum number of subscribers on TikToka regular frequency publication, a minimum commitment and interaction, as well as high-quality content that complies with TikTok guidelines. About the creator of TikTok itself, they must be at least 18 years old and live in a specific geographical area. The countries included in TikTok's eligible remuneration programme in 2024 are the United States, the United Kingdom, France, Spain, Germany and Italy.
Tips for making money on TikTok #1: Maximise the number of views on your TikTok account
In the countries concerned, TikTok now pays according to the above-mentioned prerequisites. of views you get thanks to the videos you create on TikTok. To increase your views, we recommend you read our article on how to break through on TikTok in 2024.
Did you know? How much does TikTok pay per 1,000 views?
TikTok pays between €0.2 and €0.4 per 1000 viewsplatform, making it the most cost-effective in 2024!
Tips for making money on TikTok #2: Receive Gifts on Lives and Challenges
As a creator on TikTok, if you organise Lives and take part in Challenges, users can offer you virtual gifts to support you. Some content creators on TikTok encourage users to give them these gifts, for example by mentioning them during the live session. Other creators, on the other hand, don't focus on this approach. We recommend a happy medium: You shouldn't expect too much from TikTok users either.
STEP #1 to receive gifts for Lives and Challenges: TikTok Coins
First of all, users are invited to exchange 'TikTok coins' for real money. Depending on the quantity of coins purchased, the amount may vary slightly, but on average, the price per 'TikTok coin' is approximately 0.01 EURO. As you can see from the image below, users can be asked to top up large amounts, such as 17,500 TikTok coins, equivalent to 205.19 euros.
STEP #2 to receive gifts on Lives and Challenges: TikTok Virtual Gifts
After reloading their 'TikTok coins' and going live, users will be able to choose the gift to send to the creator. Each virtual gift costs a different amount of TikTok coins. When offering the gift, users and the content creator on TikTok will see an animation appear on the screen. Sometimes the animation is even augmented reality, such as a cowboy hat appearing on the TikTok content creator's head.
TikTok virtual gift prizes
Here are some examples of prices for gifts on TikTok: the higher the amount in 'TikTok coins', the higher the real value in EURO or USD. A Rose is worth one TikTok Coin, 'The Good Morning' is worth 399 coins, while 'The Yacht' costs over 20,000 TikTok Coins.
Did you know? What is the most expensive virtual gift for the Lives and Challenges on TikTok in 2024?
It's the 'Lion and Cub', costing over 34,000 TikTok coins. That's more than 350 euros for the user.
STEP #3 for Receiving Gifts on Lives and Challenges: Turning Gifts into Money
From now on, all you have to do is go to your TikTok application, in the 'Creator / Settings' area, to find the balance available for withdrawal. You can transfer the money to your bank account at any time by clicking on the 'Withdraw' button. TikTok undertakes to ensure that the funds will be transferred to your bank account within 2 days.
Did you know? What is the percentage of TikTok's commission on virtual gifts?
TikTok takes a 50% commission on virtual gifts.
Tips for making money on TikTok #3: Partnerships with Brands
Once you've made your mark on TikTok, there's a good chance you'll start to interest brands in creating sponsored TikTok videos. How does it work? Brands wanting to promote a product or service will ask you to create a video in which you give them exposure. This usually happens when you already have a large community (+10k subscribers) and a good engagement rate.
How do I work with a Brand to become a partner on TikTok?
Working directly with the brand
There are two strategies for working directly with a brand for partnered content on TikTok (which means that there is no intermediary between you and the brand, as you are in direct contact with it), depending on the size of your community. If you don't yet have a very large community, you can contact brands directly on TikTok, Instagram, Twitter or even LinkedIn by contacting the brand's Social Media Manager. To do this, you can showcase your content by sending your videos and information about your community (average number of views, age, etc.). These statistics are available in the 'Statistics' tab of your creator account. Alternatively, for a partnership with a brand, you can be contacted directly by the brand, which usually happens when you exceed 100k subscribers.
Did you know? What's the best way to be contacted directly by a brand on TikTok for a partnership?
The best advice for 2024 is to leave your email address in your description, as this gives credibility to your TikTok profile and offers a simple entry point for brands wishing to work with you on TikTok.
Working in partnership with a TikTok influencer agency
Since 2019, with the meteoric growth of TikTok, numerous agencies specialising in managing relationships between influencers and brands have been created. These put brands in touch with TikTok influencers to create videos in partnership. Influencer agencies work either exclusively with influencers or on an ad hoc basis, enabling influencers to work with several TikTok agencies.
Did you know? How much commission does an agency take on a TikTok partnership?
It depends on the designers and your negotiating skills. But you should reckon on a range ranging from 15 to 30 % over the entire collaboration.
Tips for making money on TikTok #4: Create a community to monetise your Audience outside the TikTok application
Of all the social networks, TikTok is now the application that most promotes viral content. You no longer need to have a very large community to get a large number of views. So by using the right codes (see the techniques and strategies in our article on creating a viral video on TikTok in 2024), you can easily promote a product or service that you sell outside the TikTok application (on your website, for example).
Use the Virality of the Algorithm to generate money.
The strategy consists of creating videos highlighting products or services in your TikTok videos. It has to be spectacular to encourage users to buy the product. As it is not possible to include a link in the description of the videos, The best solution is to create a TikTok account dedicated solely to the product or service in question. This will allow the link to the online shop to be included in the account's biography. In 2024, many brands became known solely thanks to TikTok's algorithm.
Tips for making money on TikTok #5: Create a TikTok Agency
The last and ultimate method of making money from TikTok in 2024 is to set up your own TikTok agency. There are many different types of TikTok agency at the moment, each with its own specialism. Here are the different types of TikTok agency:
- TikTok influencer agencies
- TikTok content creation agencies
- Media Buying agencies on TikTok
- TikT filter creation agenciesok, like our 'Filter Maker' agency, number 1 in this field