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Top 10 Ways to Earn Money on TikTok in 2024 (even with a small audience)

Introduction

If you're wondering how to earn money on TikTok, you've come to the right place. Today, we're excited to share the top 10 ways you can monetize your presence on TikTok, ranked from lowest to highest earning potential—even if you have a small audience. Stick around until the end for a few bonus strategies that can help maximize your earnings across platforms, not just TikTok!

Understanding Monetization on TikTok

Before diving into the rankings, it’s essential to differentiate between two types of monetization: Direct Monetization and Indirect Monetization.

  • Direct Monetization refers to earning money directly through your TikTok content.
  • Indirect Monetization involves earning money through other means that relate to your TikTok presence but aren't solely based on video content.

Ultimately, this raises the question: Are you an influencer first or a business owner first? While influencers typically need a large following to maximize earnings, business owners can find ways to earn without relying heavily on audience size.

The Rankings

10. TikTok Creator Fund

The TikTok Creator Fund, launched in 2020, was designed to support creators who want to build careers on the platform. However, the payout rate is low—averaging about 2 to 4 cents per 1,000 views. For instance, you'd need 25 million views per month just to earn $ 1,000, making it more challenging for smaller accounts. Rating: 1 out of 5 Melissa Moneybags.

9. Tips

Approved TikTok creators can enable tips and receive direct support from viewers. Although it’s a way to earn real money, it largely depends on the goodwill of your community. Rating: 2 out of 5 Melissa Moneybags.

8. TikTok Video Gifts

This strategy allows viewers to buy virtual gifts that convert into monetary earnings after TikTok takes its cut. The complex nature of gifting and the low payout reduces its effectiveness. Rating: 1 out of 5 Melissa Moneybags.

7. Selling Merchandise

Creators can sell branded merchandise. While merchandise can help with marketing your brand, it’s not guaranteed to be profitable without a solid strategy. Rating: 2 out of 5 Melissa Moneybags.

6. Sponsorships

Once you build a following, sponsorships become increasingly lucrative. Brands will pay you upfront to promote their products, but this strategy is best suited for larger audiences. Rating: 3 out of 5 Melissa Moneybags.

5. Affiliate Marketing

Affiliate marketing allows you to earn commissions by promoting products you love. This is an excellent strategy for creators looking to monetize without needing significant audience size. Rating: 3 out of 5 Melissa Moneybags.

4. Freelancing

Use TikTok to showcase your skillset and attract freelance opportunities. Unlike influencer strategies, freelancing allows for higher earning potential without needing a large following. Rating: 4 out of 5 Melissa Moneybags.

3. Coaching/Consulting

Offering consulting services allows you to charge based on your expertise rather than audience size. This can be a sustainable income source once you establish authority in your niche. Rating: 5 out of 5 Melissa Moneybags.

2. Selling Physical Products

Promoting your own physical products on TikTok can be highly effective thanks to the platform’s visual nature. This strategy has vast earning potential. Rating: 5 out of 5 Melissa Moneybags.

1. Selling Digital Products

The most profitable strategy on TikTok involves selling digital products like online courses or eBooks. This model shifts the focus from promoting other brands to leveraging your own expertise for higher profits. Rating: 5 out of 5 Melissa Moneybags.

Bonus Tips

  1. Make Your Business Platform-Proof: Avoid relying solely on TikTok by building an email list or other channels where you can retain customer information and communication.

  2. Leverage Your Authority: Use TikTok to establish yourself as an expert; you can gain opportunities in writing, speaking, or coaching that can boost your income.

By choosing one strategy to start implementing today, you can set yourself up for success on TikTok. What revenue streams excite you the most? Share in the comments!

Keywords

  • TikTok monetization
  • Creator Fund
  • Affiliate marketing
  • Sponsorships
  • Digital products
  • Freelancing
  • Coaching
  • Merchandise

FAQ

1. Can I earn money on TikTok with a small audience?
Yes! There are numerous strategies you can employ that don’t require a large audience, such as selling digital products or freelance services.

2. What is the TikTok Creator Fund?
The TikTok Creator Fund is a program that pays creators for their content based on views and engagement, but the payout is generally low.

3. What are good ways to monetize TikTok?
Some effective ways include affiliate marketing, offering freelance services, and selling digital products.

4. How does tips on TikTok work?
If you are approved for the Creator Next program, you can enable tips that allow viewers to send monetary support directly to you.

5. Should I focus on direct or indirect monetization?
Both strategies can work well, but your decision may depend on your current audience size and long-term goals.

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