How To Make Money on TikTok in 2024: 8 Proven Ideas - Shopify Nigeria (2024)

Despite launching internationally only in 2017, TikTok has become the authority on what’s hot in culture, politics, fashion, and beyond. TikTok is a force, growing rapidly year over year.As of 2024, there are nearly 108 million TikTok users in the United States. The short form video app has attracted a sizable Gen Z user base, and for entrepreneurs, that’s a lot of marketing potential.

If you want to leverage TikTok’s massive user base in building your audience, here’s a look at the strategies of some of the social media platform’s top creators and marketers. Get tips on how to make money on TikTok, from fan merch sales to paid subscriptions.

8 ways to make money on TikTok

  1. Join the TikTok Creativity Program
  2. Sell merch
  3. Go live for virtual gifts
  4. Affiliate partnerships
  5. Create in-feed ads
  6. Crowdfund projects
  7. Collect tips
  8. Patreon subscriptions

Deciding how to monetize TikTok users becomes easier once you’ve gained a deeper understanding of your target audience. There’s no single approach to monetization, but the highest earners usually maintain a number of complementary income streams. From sponsored content to organic marketing, the opportunities with TikTok are virtually endless.

1. Join the TikTok Creativity Program

Users who’ve built up a substantial following might consider making money through the TikTok Creativity Program. Announced in February 2023 and launched that May, this program replaces the TikTok Creator Fund.

U.S.-based creators with at least 10,000 followers and 100,000 authentic video views within the past 30 days are eligible to join this program.

Eligibility:

  • Users must be at least 18 years old to sign up
  • Users must meet the minimum follower and video view requirements
  • User accounts need to be in good standing
  • Creators already enrolled in the TikTok Creator Fund can upgrade to the Creativity Program

2. Sell merch

Selling your own products on TikTok is great for monetizing nearly any type of content. Creators⁠—whether they’re dancers, singers, or comedians⁠—can make and sell merch for their most loyal fans.

And with a wide variety of print-on-demand companies on the market, there’s a ton of merchandise to choose from. You might sell t-shirts, tote bags, pillow cases, hats, coffee mugs, stickers, notebooks⁠⁠, or any combination of products.

Selling print-on-demand products even has benefits beyond revenue. Owning branded merch gives your fans a deeper connection to your personal brand, and every follower who wears your merch spreads the word about your business.

💡 Learn more: TikTok Merch: How To Make and Sell It on TikTok

3. Go live for virtual gifts

Most social networks have a livestreaming feature, but what makes TikTok unique is that it allows followers to show their appreciation in real time by sending virtual gifts, which can be redeemed for payment. LIVE Gifting is one of TikTok’s most useful features for creators looking to monetize their content through livestreaming.

Engaging with users in real time is great for building valuable relationships with your fans. Audiences that have a strong connection to a creator tend to develop a personal stake in their success, which means going live can help boost other monetization streams as well.

If you create or sell products online, livestreaming is an opportunity to showcase your items. Many ecommerce retailers have found that TikTok LIVE generates more interest from shoppers than live features on other social media apps.

For example, Dasha Derkach, founder of hair scrunchie business Enchanted Scrunch, saw a significant increase in sales after switching her social media marketing efforts from Instagram to TikTok.

“It has significantly boosted our sales,” she says. “Before TikTok, we got around two orders a week, then once we started, around 100 a week. Now we also do TikTok LIVEs nearly every day and get almost 500 orders a week!”

4. Affiliate partnerships

How To Make Money on TikTok in 2024: 8 Proven Ideas - Shopify Nigeria (2)

One of the most innovative ways TikTok allows its creators to make money is through its Creator Marketplace.

The Creator Marketplace helps connect the right brands to the right influencers, facilitating partnerships in a way that’s fast and easy for both parties. TikTok makes it easy to create valuable sponsored content.

Brands looking to run an affiliate marketing campaign can browse the marketplace and quickly shuffle through content made by creators they know are open to collaboration.

The Creator Marketplace acts as an influencer agency, letting both sides indicate their willingness to work with one another. That relieves some of the awkwardness of approaching influencers, which marketers may have experienced with influencer marketing on other platforms.

Get paid by brands you love with Shopify Collabs

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TikTok Shop

Another way to make money on TikTok using affiliate links is through TikTok Shop. Shop is TikTok’s tool for in-app shopping, allowing users with business accounts to create shoppable videos and livestreams.

When using TikTok Shop, you can tag products when they feature in your videos. It’s a natural way to draw your viewers’ attention to an item that you want to promote.

You can also add product information and buy buttons to your content to drive traffic to your affiliate partner. If you run your affiliate business through a Shopify store, you can integrate directly with TikTok Shop to let users scroll through items from within the app.

TikTok Shop features reduce friction for your audience. Now, they don’t need to leave TikTok to find out more about your (or your affiliate partner’s) products.

Like so many great businesses, skin care brand Peace Out Skincare was created when its founder encountered a problem that didn’t have a solution⁠—until he created one.

After struggling with acne and hyperpigmentation, among other skin issues, Enrico Frezza started researching the skin care product development process and building his own brand of skin care products. The brand found early traction partnering with TikTok influencers to build authenticity—and make more sales. The creators involved also monetized their accounts by being paid for content. Enrico shared how Peace Out Skincare found success on TikTok through influencer marketing on an episode of the Shopify Masters podcast.

5. Create in-feed ads

TikTok has a ton of great organic marketing opportunities, but if you’re willing to spend to expand the reach of your content, you might consider creating your own in-feed ads with the TikTok ads manager.

TikTok ads appear in users’ “For you” feeds and auto-play like any other TikTok video. With paid ads, you can make sure your videos are reaching audiences that are most interested in your products.

TikTok’s ad manager seamlessly integrates with Shopify. That means you can create TikTok ads, select a target audience, and track your ad’s performance⁠—all from your Shopify store. TikTok really can be one of the best online marketing tools at your disposal.

6. Crowdfund projects

You put a lot of time and effort into creating content for your fans⁠, so offering an easy, no-pressure way for them to give back is great for securing a regular income stream. That's wherecrowdfunding can play a role as one of the most accessible money-making avenues for creators.

Crowdfunding can take many forms, depending on what type of funding you’re looking for. If you’re looking for startup funds for a specific project, you could use TikTok to rally your followers by setting up a funding goal and hosting live fundraising events.

If you’re looking to fund a specific project, here are some crowdfunding sites to explore.

  • Kickstarter:Kickstarter is the web’s most widely used and recognized crowdfunding platform, giving your fundraising credibility.
  • Indiegogo:If you don’t have a set funding target, you might prefer Indiegogo, which offers a more flexible fundraising goal, letting you receive funds after your deadline.
  • Fundable:Fundable lets startups offer equity in exchange for funding, making it a great tool for finding investors. Currently, though, Fundable is only available to users in the United States.
  • Crowdcube:Crowdcube offers companies that succeed in their fundraising goals exclusive benefits from their partner organizations through its Crowdcube Funded Club.

💡 Get more ideas: 10 Top Crowdfunding Sites: Fund Your Vision

7. Collect tips

How To Make Money on TikTok in 2024: 8 Proven Ideas - Shopify Nigeria (3)

For a fast and easy way to accept donations, consider using a tipping platform. Tipping platforms work just like a real-life tip jar, and viewers who like your videos can thank you with a small donation. The option is available to fans, but not mandatory, and they can donate any amount they like at any time they want.

If this sounds more appealing to you, there are some great tipping platforms to check out.

  • TikTok’s native tipping feature:This is the easiest way to collect tips in-app, with a convenient button on your profile users can tap to pay you.
  • Tipeee:Tipeee doesn’t offer subscriptions, but its strength is its simplicity. On Tipeee, creators can set up a page for their fans to directly “tip” any amount they want, whenever they want.
  • Buy Me a Coffee:Buy Me a Coffee prides itself on being built for creators, as opposed to businesses. Like Tipeee, its strength is its simplicity. Followers are sent to a page where they can purchase as many “coffees” for the creator as they like. “Coffees,” in this case, are $1 payments that are transferred to the creator via PayPal or online banking.
  • Ko-fi:Ko-fi offers tips, memberships, and ways to offer users commissions for personalized content, like a custom tutorial or video chat.

8. Patreon subscriptions

Crowdfunding works for big projects, and tipping is the simplest way to collect funds quickly. But what if you’re looking to secure a more regular passive income stream? Try a creator-based subscription platform, like Patreon.

🤓 Further reading: What Is Passive Income? 5 Ways To Earn It in 2024

Subscription-based models of income work great for content creators, because you can keep individual subscription costs low and focus on growing your number of subscribers.

A low-cost subscription of, say, $1 a month is an easy sell to a single dedicated fan. If you have a lot of dedicated fans, those dollars start to add up.

Patreon is a large platform built to let creators and influencers generate revenue through paid memberships from their most loyal fans⁠. On Patreon, you can set up membership tiers that allow you to offer exclusive content to your biggest supporters.

Alternatives exist (most notably Ko-fi, which also includes a tipping feature), but Patreon has the added benefit of brand awareness, which adds a level of trust from prospective supporters.

If you’re thinking a subscription service might be the best way of monetizing your TikTok account, here are some best practices to keep in mind:

  • Entice your fans with rewards. Audiences are likely to increase their donations if they get something worthwhile.
  • Thank your supporters directly. Make your fans feel appreciated and they’ll be more likely to keep supporting your work.
  • Promote your Patreon page. Fans can’t subscribe if they don’t know you’re offering them.
  • Keep subscription costs low. It’s easier to get $1 from 50 followers than to get $50 from one.
  • Create new content consistently. Paying audiences have higher expectations when it comes to how frequently you release new content.

Connect with shoppers on TikTok

Shopify comes with powerful tools to help you tell your brand story and create TikTok in-feed ads in minutes. Make sales on TikTok and manage all your orders, returns, and payments from Shopify.

Start selling on TikTok

TikTok Rewards referral program

How To Make Money on TikTok in 2024: 8 Proven Ideas - Shopify Nigeria (4)

All active TikTok users who meet minimum age requirements can refer new users to the app in return for TikTok Rewards points.

What are TikTok Rewards?

TikTok Rewards are virtual points that you can earn by persuading people to join TikTok or by completing activities such as watching, creating, and interacting with videos.

Rewards can be converted into small amounts of cash at a rate determined by your location. Once you’ve built your earnings, you can withdraw them to your bank account or PayPal account. In some countries, Rewards can also be redeemed for things like coupons and mobile top-ups.

Check the Task Rules page on your app to see the amount of TikTok Rewards points you’ll be eligible to receive, and the tasks your referred user can complete for extra points for themselves and you.

How do TikTok referrals work?

To generate a referral code, head to Profile, then either Discover or For You. Tap the TikTok Rewards banner, then the coin icon in the upper left corner of the screen. There, you should see a referral link and invitation code.

After that, you and your referred user will need to follow these steps:

1. Invite a new user to join the platform.

To begin earning rewards through TikTok’s referral program, all you need to do is ask a friend, family member, or coworker to download and use the app.

2. The new user creates a profile and enters the invitation code.

Once your friend has downloaded and opened TikTok, they should go to their Profile and select the icon beside their name. There, they’ll be able to enter the referral code you sent them.

Note: Your friend must enter the referral code within 24 hours to earn invitation rewards points.

3. Optional: the new user watches videos to earn more rewards.

When new users watch videos via the Activity page, they and you will earn extra Rewards. The amount of videos they’ll need to watch to get Rewards differs based on location, but TikTok recommends watching videos for a few minutes every day, starting from the first day after a referral code is entered.

As time goes on, new users can also earn points by posting videos and interacting with content.

Note: The new user must watch videos within the time period shown on the Activity page to be eligible for Rewards.

Who is your TikTok audience?

How To Make Money on TikTok in 2024: 8 Proven Ideas - Shopify Nigeria (5)

To make money from your TikTok audience, you need to know who they are. And on TikTok, users are likely to skew younger. A majority of users (62%) are under 30, with a whopping 32.5% of active users are under 20. Many people think of TikTok’s popularity with Gen Z as its defining characteristic, but this could change quickly.

One survey shows a growing number of millennials joining the platform, and social networks tend to be most popular with teens at their inception⁠—so a head start on catering to TikTok’s older users could give you a big advantage in a few years.

There’s no one-size-fits-all approach to TikTok, but having a solid understanding of your audience will put you in a better position to find the best ways to monetize your following.

💡 Learn more: TikTok Trends: The Ones To Watch in 2024

Always put content first

The tricky part of using social media to sell products is not overdoing the amount of promotional material.

Your fans understand that you need funding to keep creating the content they love, but no one wants to follow an account that just feels like it’s advertising constantly.

This is especially true with TikTok, since the platform itself is so geared toward forming personal connections with your audience.

Users appreciate good content, so it might help to take a “content-first” approach. Rather than starting with your sales pitch and building content around it⁠, create the content first and let it inspire the best ways to monetize your account.

That’s an approach that worked for Parade, a sustainable underwear company that found success by advertising to millennial and Gen Z customers on TikTok. Parade’s growth marketing manager, Darya Dziadzenka, quickly found that the most effective TikTok marketing content is authentic: it prioritizes relevance and humor over chasing sales.

“The key thing to success on TikTok is making the content as organic to the platform as it can be,” Darya says.

Your TikTok posts should offer value to your audience—not just sell to them. Another great example of this approach is Partly Sunny Projects, an online plant brand shipping California greenery across the country.

Founder Sonja Detrinidad started the business as a distraction from the stress of her day job and took to TikTok to capture the process. It didn’t take long for TikTok audiences to fall in love with Sonja’s captivating personality. Her authentic TikTok videos align with her audience’s interests.

What makes Sonja’s use of TikTok for her business so successful is that she is focused on creating content she knows her viewers enjoy. Sonja covers topics related to gardening, effectively capturing the attention of the exact type of follower that can be turned into a customer.

🪴 Learn more: Read how Sonja turned her viral TikTok success into a blooming business.

Join the creator economy

Creators aren’t just artists anymore. They’re also entrepreneurs, marketers, salespeople, accountants, founders, CEOs⁠—and everything in between. In the creator economy, stars are self-made⁠ out of their own creativity, passion, and desire to build something unique.

Time is money for artists⁠—and making more money from your art grants you more time to create. If the money itself isn’t rewarding enough, the extra time it buys will be. TikTok is one of many platforms offering creators the ability to make money online. Do what you already do best—and get paid doing it.

💡 Learn more: If you enjoyed this guide to making money on TikTok, check out our tips for how to make money on YouTube and how to make money on Instagram.

How to make money on TikTok FAQ

Can I make money on TikTok?

Yes! Anyone can make money on TikTok with the right tools and an effective strategy. If you’re looking to make money on TikTok, take a look at the tips above and start considering which strategies are best for you.

How do creators make money on TikTok?

The most successful TikTok users make money through a combination of revenue streams that can include sponsorships, fundraising drives, product sales, and accepting tips. TikTok users can also promote products through an affiliate link to get paid directly from brands. Making money on TikTok is also possible for larger accounts through programs like creator funds.

Do you get paid for uploading videos on TikTok?

TikTok does not directly pay creators to produce and upload videos. TikTok does offer funding for creators in the form of the TikTok Creativity Program. Still, payment varies based on factors like the number of video views, engagement rates, and the authenticity of users engaging with the post.

In some cases, brands might pay a popular micro-influencer to create videos, but TikTok’s highest-paid users usually monetize their accounts through multiple income streams⁠. Multiple income streams provide greater security, but your audience is the biggest factor when deciding how to make real money on TikTok.

Who makes the most money on TikTok?

According to Influencer Marketing Hub, these were the highest earners on TikTok as of November 2023:

  1. Charli D’Amelio, estimated annual earnings: $17.5 million (148.7 million followers)
  2. Dixie D’Amelio, estimated annual earnings: $10 million (57.5 million followers)
  3. Addison Rae, estimated annual earnings: $8.5 million (88.7 million followers)
  4. Bella Poarch, estimated annual earnings: $5 million (92.4 million followers)
  5. Josh Richards, estimated annual earnings: $5 million (26 million followers)

How do I get paid on my TikTok account?

How you get paid depends on the method you choose to monetize your TikTok content. Usually, you will get paid through whichever app you use for monetization, whether that’s a tipping platform, TikTok’s own Creativity Program (formerly Creator Fund), a crowdfunding site, or your own online store platform (in the case of selling merch or your own products to your fans).

How To Make Money on TikTok in 2024: 8 Proven Ideas - Shopify Nigeria (2024)

FAQs

How To Make Money on TikTok in 2024: 8 Proven Ideas - Shopify Nigeria? ›

TikTok on Shopify is an integration that allows Shopify merchants to set up TikTok For Business, manage TikTok ad campaigns, measure campaign performance, and drive more potential customers to merchants' stores.

How can a Nigerian make money on TikTok? ›

How to make money on TikTok in Nigeria
  1. Advertise your business and sell.
  2. Collecting virtual gifts.
  3. Selling TikTok accounts.
  4. Partner with brands.
  5. Affiliate marketing on TikTok.
  6. Offer paid content and subscriptions.
  7. Offer personalised shout-outs.
Mar 15, 2024

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. ...
  2. Run TikTok ads. ...
  3. Collect tips or donations. ...
  4. Collaborate with a creator. ...
  5. Try affiliate marketing. ...
  6. Grow and sell TikTok accounts. ...
  7. Publish sponsored posts. ...
  8. Create a Patreon account.

Can you sell on TikTok with Shopify? ›

TikTok on Shopify is an integration that allows Shopify merchants to set up TikTok For Business, manage TikTok ad campaigns, measure campaign performance, and drive more potential customers to merchants' stores.

How much does TikTok pay per 1000 views? ›

According to reports from top influencers, TikTok pays around $0.02 and $0.04 for every 1,000 views. These are reports based on payments received through the TikTok Creator Fund. This is a program that TikTok introduced in 2021 in a bid to compensate content creators for creating content on the platform.

How much TikTok pays for 1,000 views in Nigeria? ›

Related to How Much TikTok Pays for 1000 Views in Nigeria

The TikTok Creator Fund is known to pay $0.02-$0.03 per thousand views.

How can I be famous on TikTok in Nigeria? ›

Here are some tips to help you create TikTok content that will resonate with your audience:
  1. Tell a story. TikTok is all about storytelling. ...
  2. Keep it short and snappy. ...
  3. Use trending hashtags and sounds. ...
  4. Collaborate with influencers. ...
  5. Engage with your audience.

How to promote a Shopify store on TikTok? ›

How to create your first TikTok ad in 7 steps
  1. Get a business account.
  2. Integrate TikTok with your Shopify store.
  3. Open the TikTok Ads Manager.
  4. Set your advertising goal.
  5. Select your audience.
  6. Set your budget and schedule.
  7. Create your ad and submit.
Aug 22, 2024

How to start a TikTok Shop for beginners? ›

How to set up a TikTok Shop?
  1. Create a TikTok Business Account. Begin by creating a TikTok Business Account if you don't have one already. ...
  2. Connect your TikTok Shop to a compatible eCommerce platform. ...
  3. Finalize your TikTok Shop profile. ...
  4. Add products to your TikTok shop. ...
  5. Configure prices and inventory.
Feb 16, 2024

How do you get paid on TikTok Shop? ›

Checkout for TikTok Shop is powered by TikTok. After a customer places an order through TikTok Shop, the payment is processed by TikTok, and the funds are transferred to the bank account that you have connected to TikTok.

How much does TikTok pay per view in 2024? ›

Yes, TikTok does pay per view. According to recent reports, TikTok pays around $0.02 and $0.04 for every 1,000 views, based on reports from top influencers and payments received through the TikTok Creator Fund.

How many views is $1 dollar on TikTok? ›

Discover the Earnings Potential. Learn about TikTok's payment rate of $1 for 1000 views if your video is at least 1 minute long. Find out how much you could earn from TikTok views and maximize your income!

Why is TikTok not paying Nigerians? ›

Unfortunately, the Tiktok Creators fund is not available for Nigerian Tiktokers. You can only earn from it if you are a Nigerian residing in one of the allowed countries. Does TikTok pay for views in 2023? May be if you have over 100,000 followers.

Who is the highest paid Tiktoker in Nigeria? ›

Related to Highest Paid Tiktokers in Nigeria

Starting with number one, we have Khabili. with over 160 million followers on TikTok. Famous for his funny, speechless TikTok videos, Kabi brings in over $750,000 per sponsor TikTok video.

How do I join the creator fund on TikTok from Nigeria? ›

Go to Creators, Choose go to Creators Fund. Get yourself registered. As long as you are 18 and above, get yourself registered. and then get your ID card ready for verification.

How much is 1,000 coins on TikTok in Nigeria? ›

To find out how much 1000 TikTok coins are in Nigerian Naira, we need to convert the cost from USD to NGN (Nigerian Naira). The exchange rate between USD and NGN also fluctuates, but as of the latest rates, 1 USD is approximately 780 NGN. So, 1000 TikTok coins would be approximately 8,346 Naira.

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