Snaptik – Since its launching, TikTok has become one of the biggest players in the social media business. In 2018, TikTok was already the most downloaded app in the United States, this is quite remarkable since TikTok was only founded in 2016 and launched globally in 2017. Now, TikTok has been downloaded over 4 billion times and has more than a billion active users every month.
The large number of TikTok users is a huge opportunity for creators not only to get famous but also to get some income. There are several great ways to make money from TikTok and if you are not quite sure where to start, here’s how to monetize your TikTok account in 2024.
Join The Creator Fund / TikTok Creativity Program
Since 2020 TikTok has been providing its most popular creators a way to monetize their accounts. But in 2023, TikTok made some changes to this program depending on where you are located. In the US, UK, Germany and France, TikTok has shut down the Creator Fund and replaced it with the Creativity Program.
According to TikTok, this new fund will allow creators in those countries to monetize videos for more than a minute. To get your account eligible for this program, your account must have at least 10,000 followers and 100,000 views in the last month. The earnings themselves would also be counted and based on views and other metrics of TikTok engagement.
Collect Donations or Tips
Probably the easiest way to earn money from TikTok is through donations and tips given by your followers. TikTok has introduced this feature and give selected creators access to it so they can earn money from their followers as their way to show gratitude to their favorite content creator.
This is how this feature works, viewers will give gifts to their content creator with virtual coins and gifts that will be collected by the creator. After that, the creator can redeem those coins and gifts for diamonds which are TikTok’s digital currency. Once the creator has enough diamonds, they can trade them for real cash.
Run Ads
Around 56% of people aged 20-29 years old and around 67% of people aged 18-19 years old are on TikTok. Because of this, TikTok is a place with huge prospects for brands and companies to promote their products that will appease millennials and Gen Z. The ad formats in TikTok could vary by regions but you can personalize the targeting yourself by interest, location, age and other important factors.
Running TikTok ads is one of the best way on how to monetize your TikTok account in 2024. There are 3 most popular types of ads on TikTok. First is in-feed video which will appear on the For You Page, brand takeover that will expand to the whole screen for a few seconds, and hashtag challenges that will encourage user-generated content.
Learn About TikTok Algorithms
To make your TikTok account more successful and therefore will give you more money, you need to learn in mastering the TikTok algorithm: tips and trick. User interactions are the most important part of TikTok algorithm, just like other social media platforms such as Instagram.
User interactions are based on how you interact with other users on the platform, but video information is also important and this is based on the kind of content you tend to look for through Search or Discover. This information includes some details like captions, hashtags, sounds, effects and trending topics.
Affiliate Marketing
With the program of affiliate marketing, you can promote services and products of companies in exchange for commissions. But just promoting products and services would not be enough, you need to generate online sales in order to get your commissions. And to do this, you need to create engaging videos and focus on the values of services and products you are promoting and why you want to recommend these to your followers.
Before you do this, you should do some research on the products or services and make sure you promote the brands you like and trust. To track the purchases influenced by you, you could share affiliate links or codes. If one of your followers makes a purchase with your code or link, you will then get the commission from the brand according to your agreement with them.
If you want to download TikTok videos to review and track your account’s progress, you have to do it through a third party platform since TikTok doesn’t allow direct downloads. And the best platform on the internet is SnapTik at https://snaptik.ltd.
Sell your Own Products
Selling your own products like merchandise to your followers is a great way to earn income from TikTok too, but you can only do this when you have a big amount of followers. You can make your signature merchandise like mugs, t-shirts, or even special events. To make sure that your followers will buy your merchandise, create a poll first to find out what kind of stuff that your followers want to buy.
Those are some of the ways you can do on how to monetize your TikTok account in 2024. If you’re just getting started, you need to build your account first before you can earn money from your TikTok account comfortably. Make sure you consistently post original contents that suit your demographics and don’t give up so easily.
