TikTok is everywhere. As of January 2023, TikTok has over 1 billion users worldwide, and 3.2 million are Canadian users. The surge in the number of TikTok users opens many revenue opportunities, even for individuals who don’t have millions of followers.
Continue reading this article to learn how to make money on TikTok live or by using the platform to promote your business, affiliate links, and products.
Here, we’ll provide easy-to-follow strategies to help you earn using the platform.
1. Promote Your Business
Increase your customer base and revenue by using TikTok to promote your business. With the number of TikTok users today, you can use the platform to connect with any type of audience.
One of the most common ways of promoting your business on TikTok is by working with an influencer.
Since influencers have a large following on TikTok, letting them promote your business means being able to reach a newer, bigger audience.
TikTok recently launched four types of ads entrepreneurs can use: infeed native content, brand takeovers, hashtag challenges, and branded lenses.
Similar to other platforms, TikTok allows you to use these ads with precise targeting features, so you can reach the exact audience who are interested in your products or services.
2. Affiliate Links
Signing up for affiliate marketing programs is a great way to make money on TikTok with 1000 followers or less. As an affiliate, you’ll earn a commission every time someone buys from your affiliate link. The more people who use your link, the more you can earn.
Your income and long-term success as an affiliate marketer depend on your ability to generate sales. To achieve that goal, you need to choose and promote products that appeal to your target audience.
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3. Promote Products
Using TikTok to promote products is a great way to make money on TikTok Canada and in other parts of the world. Besides physical products, you can also sell quotes, logos, and other forms of digital art and promote them on TikTok. Feature them on videos to gain more traction.
If you’re still clueless about what to sell, use polls or ask your audience directly. Figure out what they want to buy, so you can make money from promoting highly in-demand products.
Do you have an authentic presence on TikTok? And at least 10,000 engaged followers? If you answered “yes,” then you can make money on TikTok by posting sponsored content.
Brands will reach out to you and discuss partnerships if you have a large following. But there’s nothing wrong with making the first move and sending a message to brands that suit your audience, aesthetics, value, and personal brand.
Sponsored content — or content that showcases the products or services of a particular brand in exchange for payment — is a tried and tested strategy to earn money on TikTok.
5. Flip Accounts
Flipping TikTok accounts is an excellent way of making money on TikTok. The idea of flipping involves creating and building up an account before you sell it for profit. This concept is no longer new in business, especially in the world of real estate.
To get started, you need to pick a niche and create content focused on it. Next, you have to grow the number of your followers and engagement.
Once the account has reached a large enough following, talk to brands in the same niche and let them know that you’re selling the account.
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6. Collect Tips or Donations
One easy way to earn money on TikTok is by collecting tips and donations. TikTok has added a tipping feature to the app that allows creators to earn money from tips and donations given by their followers.
This feature is used by followers to show appreciation to their favourite content creators.
Tips and donations can be redeemed for Diamonds — TikTok’s digital currency. Once you have enough Diamonds, you can convert them to real cash.
7. Receive Live Gifts
Live gifting is a new TikTok feature that enables creators to make money on TikTok live. Unlike the live streaming feature available on other social media platforms, this one from TikTok allows followers to express their gratitude in real time by sending virtual gifts. You can redeem these gifts for cash.
To get the most out of TikTok live and increase your earnings, go live when most of your followers are online. Go to your profile settings and select the Analytics tab to determine what time of the day your followers are most active.
8. Sponsored Live Streams
Another way to make money on TikTok live is to sell products with brand ads. If you have a large following on the platform, brands will reach out to you and ask you to promote their products during your live stream. In exchange, you’ll receive payment.
Nowadays, countless TikTokers are making money by promoting products from brands. If you plan on taking the same route, be extra cautious, as promoting the wrong product or representing the wrong brand can backfire on you.
One rule of thumb to follow when making money from sponsored live streams on TikTok is to test out the product first for a certain period.
You should only promote the product on your live stream if you’re convinced of its quality and effectiveness.
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The highest TikTok earner is Charli D’Amelio, who earns roughly $17.5 million annually from the platform. She has 149.5 million followers and rose to fame after posting dance videos on TikTok in June 2019.
Next on the list is Dixie D’Amelio, Charli’s elder sister. Dixie earns roughly $10 million every year from TikTok and has 57.5 million followers.
Dixie’s popularity on TikTok began when she started posting content with her sister. She eventually branched out into music and released her first single in June 2020.
Addison Rae is the third-highest earner on TikTok, making about $8.5 million annually. She has 88.9 million followers and made a name on the platform by showcasing her dance moves.
After posting her first sponsored content with Fashion Nova, she became a full-time celebrity.
Bella Porch makes it to the list by being the fourth-highest earner on TikTok. Her followers quickly rose to 80 million after her viral video of lip-syncing Millie B’s “Soph Aspin Send.” Bella has 92.7 million followers and earns about $5 million every year.
With estimated annual earnings of $5 million, Josh Richards continues to be one of the highest-paid stars on TikTok.
His signing, dancing, and lip-syncing videos are the reason why gained 26 million followers and successfully built a reputation of being TikTok’s bad boy and heartthrob.
You don’t need to have millions of followers to earn on TikTok. The key here is to be transparent with your audience and consistent with your efforts.
As long as you have those traits, you can start earning today and eventually attain the same success as TikTok’s top earners!
Find out how you can earn a $50 bonus when you sign up on TikTok!
As of this writing, the TikTok Creator Fund is unavailable in Canada.
Yes, you can make money on TikTok by driving traffic to your site, boosting ad revenues, and making affiliate sales. You can also earn from the platform by receiving virtual gifts and becoming an influencer.
Yes, but you need to have at least 10,000 authentic followers and at least 100,000 video views in the last 30 days.
Enter the TikTok Bonus icon found on your profile, select “Watch Videos,” and watch videos marked with the TikTok Bonus coins to make money. Keep in mind that you will only get paid after watching videos from start to finish.
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