How To Make Money On TikTok (5 Creative Ways)

May 26, 2021
Blog
How To Make Money From Tiktok" alt="" />

Make Your Dollar Go Further

Earn up to 10% cash back on all purchases for the first 3 months with the Momentum Visa Infinite Card, plus no annual fee for the first year.

Did you know that you can make money by using TikTok?

It seems like a strange idea at first, but TikTok is becoming more and more popular as time goes on. In fact,  it might even be more effective than Instagram as far as marketing is concerned.

This is because TikTok has many users but not a whole lot of content (since it’s relatively new). By having so many users and so little content, videos can become viral extremely quickly, which translates to opportunities to make money using the app in various ways.

Basically, TikTok is a goldmine of opportunity, and content creators know this. They won’t wait years to figure out all the different ways they could make money on TikTok as they did with Instagram — they’re starting to capitalize the app right now, and you should too.

5 Ways to Make Money on TikTok

In this post, I’ll go through 5 unique ways you can use TikTok to make money. But first, here’s an answer to a few of the questions that are probably going through your head right now.

What Is TikTok?

TikTok is a video-sharing social media platform owned by the Chinese company ByteDance. Content creators in TikTok use the app to create short videos that vary in genre (mainly dance, comedy, and education). These videos can last anywhere between fifteen seconds to three minutes. 

TikTok is an international version of Douyin, which was originally released in China in September 2016. After that, TikTok was launched in 2017 for iOS and Android in most markets outside mainland China, but it only became available worldwide after merging with another Chinese social media service, Musical.ly, on 2 August 2018.

How Can TikTok Be More Powerful Than Instagram?

A few moments ago, I mentioned that TikTok has a lot of users but not a lot of content, which is one of the reasons why getting a lot of attention quickly is easier there.

But there’s another reason why TikTok has the upper hand.

You see, TikTok videos work similarly to Instagram stories, but unlike the latter, TikTok videos stay on the platform forever, while Instagram stories disappear after 24 hours.

TikTok also uses an algorithm that pushes content to a relevant audience (similar to YouTube). 

With this combination of high interest, little content, videos that can be seen at any time, and an algorithm that helps you spread your content, it’s clear how TikTok can be more effective as a marketing tool when compared to Instagram. It’s almost as if it were YouTube and Instagram combined into a single social media platform!

Top 5 Ways You Can Use TikTok To Make Money

Now that you know what TikTok is and how it can be more effective for marketing than other social media platforms, it’s time to talk about how you can use TikTok to make money.

There are five main ways you can go about it, and these are as follows: 

#5 Donations

Collecting donations when going live on TikTok is one of the most straightforward ways to make money with the app, but the donation system that TikTok uses is pretty interesting.

As a TikTok user, you can go to your profile and buy coins (the minimum amount being 100 coins for $1.39). The main purpose of these coins is to donate them to your favourite content creators as a way of thanking them for their hard work — they can turn these coins into another type of currency called diamonds, and diamonds can be converted to cash (via PayPal).  

#4 Selling An Account With Lots Of Followers

The second most straightforward way of making money through TikTok would be to create an account, gather a big following, and then sell your account to someone else.

This method of making money on TikTok works similarly to how you’d do it on Instagram — you choose an audience or particular topic of interest, create content that this audience will find interesting and/or entertaining. If you do everything right, you'll watch as your content becomes viral and amass a good number of followers.

This, however, raises an interesting question. Who exactly do you sell your TikTok account with hundreds of thousands of followers to? Well, you’d want to sell it to brands related to the topic you chose to make your content about.

The hard part of making money through TikTok is getting a big number of followers — once a brand has an account with a lot of followers in it, selling its products through the account becomes very easy.

So, with this method, you’ve basically done most of the hard work for the brand you’re selling the account to, and they'll be more than willing to pay.

#3 Using TikTok Ads

Another easy way to make money using TikTok is by using their ads platform, similar to how you’d do it with Instagram and Facebook’s ads platforms.

The process is pretty simple: all you need to do is google “TikTok ads” and sign up to TikTok’s ads platform. 

Considering how many users the platform currently has (and will have in the future), investing and experimenting with TikTok’s ads platform might be worth your time — especially considering how easy it is to get into.

#2 Managing TikTok Accounts

Another slightly more advanced way you could use TikTok to earn money is by managing other people’s accounts. This method is particularly profitable if you find an account belonging to an influencer or a micro-influencer in any niche.

Some TikTok users have gained thousands and thousands of followers overnight, and they often don’t know how to handle their sudden fame. If you find an account with thousands of followers and notice that they're just not pumping out content at the rate they should, or they're failing to keep up with answering messages, that is a perfect opportunity for you to reach out to them and offer your services. You can develop a content strategy that'll help them regain control of their account and offer to implement that strategy for them.

This needs a specific set of skills on your behalf, but if you have a content creation or storytelling background, you could definitely put them to work by offering management services to TikTok creators.

#1 Consulting

Last but not least, you can offer consulting services to other accounts. Once you have enough experience with TikTok and understand how it works, you can offer to help others get hundreds of thousands of views.

This is a great way to leverage your knowledge of the platform and help people who want to become famous content creators. You’d be boosting their strategy, so their videos get seen by hundreds of thousands, if not millions of people.

Of course, you need to have the background and the experience to offer this as a service. But once you’re there, people will pay to have your experience on their account.

And if you help them get any deals or influencer agreements, you can even negotiate a percentage or a cut of that deal simply because you’re their consultant and you have helped them go viral on TikTok.

Extra: A Feature That Could Be On Its Way To TikTok

Remember how I mentioned one of the most straightforward ways of getting money by using TikTok is through donations?

Well, it’s also worth mentioning that Douyin, the Chinese version of TikTok, goes a step further. When creators are streaming, they can actually attach a product they’re selling to the stream. This allows content creators to hold auctions as they go live, and their viewers can buy their products as they’re streaming through this feature.

This feature is known as the shopping cart feature, and it shouldn’t take too long for it to reach TikTok. 

In Summary

There are many surprising ways you could use TikTok to make money. Whether you do it through straightforward methods like donations and selling an account with many followers, or you do it through slightly more advanced methods like managing TikTok accounts or offering consulting services, there are many opportunities to be had within this social media platform.

TikTok is growing larger and larger with each passing day, and it’s very likely that it won’t take the social media platform long to become bigger than others like it (for example, Instagram). With that in mind, the best time to take advantage of TikTok’s many opportunities is now! 

Canada's Best Credit Cards

Exceptional Value

Earn up to 40,000 Aeroplan Miles (valued at $800 - $1,200) with the American Express Aeroplan Card, our #1-rated card in Canada in 2021.

Bonus: Includes Buddy Pass

The Finer Things In Life

Earn up to 80,000 Membership Rewards points (valued at $1,600 - $2,400) with the American Express Platinum Card, plus a $200 annual travel credit.

Bonus: Airport Lounge Access

Low Fee, High Value

Earn up to 50,000 MR points (valued at $1,000 - $1,500) with the American Express Cobalt Card, a low-fee card that offers 5x the points on all food and drinks.

Bonus: $100 USD hotel credit