5 Ways You Can Use TikTok To Make Money

May 26, 2021
How To Make Money From Tiktok" alt="" />
There’s never been a better time to be a Canadian business owner thanks to the American Express Aeroplan Business Reserve Card, a premium card that offers incredible value. For a limited time, earn up to 150,000 Aeroplan points*. Offer ends August 3, 2021. The American Express Aeroplan Business Reserve Card is made from precision cut and engraved 13 g metal. Enjoy access to select Maple Leaf Lounges™* and the Air Canada Café™*.

If you’re a business owner that travels at least once per year, we highly recommend the Aeroplan Business Reserve Card.

*Conditions and caps apply.

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 a lot of users and not a whole lot of content (since it’s relatively new). By having so many users and so little content, videos have the possibility of becoming 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, we’ll go through 5 unique ways you could 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 of 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, we 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 tend to 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 in comparison to other social media platforms, it’s time to talk about the ways 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 that you can donate them to your favorite 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).  

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. 

#4 Selling An Account With Lots Of Followers

The second most straightforward way of making money through TikTok would be creating an account, gathering a big follower count, and then selling said 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, and then, if you’ve done everything correctly, watch as your content becomes viral.

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 of the topic you chose to make your content about. 

This is because 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 is pretty easy.

So, with this method, you’ve basically done most of the hard work for the brand you’re selling the account to. The only thing left to do is to sell the account, and you’ll be the one calling the shots in that regard.

#3 Using TikTok Ads

Another easy way you could 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 search “TikTok ads” on Google 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, and this method especially applies if said account belongs to an influencer.

Some TikTok users have gained thousands and thousands of followers overnight and they often don’t know how to handle their sudden fame. This is a perfect opportunity for you to reach out to them and come up with a content strategy that best suits their needs, and you could also manage any deals that come their way.

It needs a specific set of skills to be done, but if you have that background in production or storytelling, you could definitely apply that to offering management services to TikTok creators.

#1 Consulting

Last but not least, you can offer consulting services to other accounts once you have a lot of experience with TikTok and you understand how you could help someone in getting 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.

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 a lot of followers, or you do it through slightly more advanced methods like managing TikTok accounts or offering consulting services, there are a lot of opportunities to be had within the 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

Our #1-Rated Card Of 2021

Earn up to 75,000 Aeroplan Miles (valued at $1,500 - $2,250) with the American Express Aeroplan Card, our #1-rated card in Canada in 2021.

Offer expires August 3, 2021.

For Business Owners

Earn up to 150,000 Aeroplan Miles (valued at $3,000 - $4,500) with the American Express Aeroplan Business Reserve Card, plus 10x the points on gas and restaurant spending.

Offer expires August 3, 2021.

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.

Offer expires August 16, 2021.