TikTok is one of the fastest-growing social media platforms, especially for the younger generation. With millions of active monthly users, TikTok is the space many turn to to make extra cash.
But how can you make money on TikTok in Canada, and how much can you make? That’s what I’m here to tell you.
I’ll give you the rundown of the easiest ways to get paid. If you’re addicted to the app like so many others, read on to see how you can monetize your account.
Because of the increase in users over the past year, the top TikTok influencers can generate anywhere from $100,000 to $250,000 per post. Some can even pull in up to $500,000 for a single post.
The Top TikTok earner for 2021 pulled in $17.5 million, and she’s only 17. Charli D’Amelio has the most followed account on the social media platform. Most of her videos include dancing, her specialty.
The number two spot belongs to D’Amelio’s older sister, Dixie D’Amelio. She earned $10 million in 2021.
The sisters don’t just rule TikTok, they are featured in a Snapchat head-to-head competition show and also appear in a reality show on Hulu.
Rounding out the top five include Addison Rae, making $8.5 million, and Bella Poarch and Josh Richards, tied for fourth, making $5 million each.
Top Ways to Make Money on Tiktok in Canada
Now that you know there’s money to be made and you don’t need a ton of followers, how do you do it? Here are the top ways to earn some cash.
1. Promote Your Own Business
How much can you make? You might start slow and only get a small amount of business through the TikTok app, but all you need is a few people shouting your praises, and sales can skyrocket.
You don’t need millions of followers to promote your business. If you have something to sell, either a product or a service, TikTok is a great spot to advertise it.
For example, if you are a personal trainer, you could post videos showing how to perform basic moves you use in your program.
Make sure to include how a user can contact you for more advice. You can direct them to a website or another social media account.
To make your business unique, you need to come up with a reason your account is one of a kind.
How does your personal training business differ from all the other videos online? If you crack that code, you’ll find yourself with more followers and more business.
2. Earn Virtual Gifts When You Go Live
How much can you make? Depending on the number of followers you have, it’s possible to make a few hundred dollars per live session.
Going live on TikTok has its benefits – namely, you can get paid. When you live stream, users can send virtual gifts that you can redeem for payment.
For it to be profitable, you should live stream during your most active part of the day. This means doing your homework and finding out when your audience is most active.
In addition to that, the longer the live stream, the more chance you’ll have of users popping in to check out what you’re doing.
You could also post a video telling your users about your live stream to generate as big an audience as possible. Don’t forget to use hashtags to increase your reach and find new followers.
How much can you make? Average TikTokers can expect to make a few hundred dollars for sponsored content. Payment for each view is rumoured to be $.01 to $.02.
Many TikTokers find that getting a sponsorship is one of the most lucrative ways to make money on the platform. A sponsorship is an agreement with a brand to promote its product and recommend it to your followers, usually via a sponsored video on the Tiktok platform.
It isn’t groundbreaking territory, and at this point in using social media, most users expect top-rated creators to pitch some kind of product to them.
But it is a fine line for the creator. You don’t want to constantly promote products. Your followers will find that offputting, and it could backfire on you.
The goal is to select brands you truly love and only promote them a certain number of times per month.
TikTok creators also have their own creator marketplace that helps connect influencers with the right brands. Each brand can search the marketplace and look through creator content to find an influencer that’s right for them.
4. Promote Affiliate Products
How much can you make? The number of followers you have can determine your income on this one. Influencers can make a few hundred up to a full-time income.
Similar to sponsorships, as an affiliate, you’ll promote a product or service and provide a link to the brand’s website. In return, you’ll earn either a flat rate or a percentage of sales that came from your unique link.
Creators generally make a video about the product and in the end, will tell their users to check their bio for the link.
Just like sponsorships, you don’t want to constantly barrage your followers with links to buy stuff, so plan out your material ahead of time.
5. Sign Up for the Creator Fund
How much can you make? It depends on your level of activity and engagement on your account. Popular users can expect a few hundred dollars, with some earning even more.
Joining the creator fund lets you make money from your TikTok videos. How much you earn depends on the size of your following, as well as your level of engagement and the frequency of your posts.
Not everyone can sign up. The following criteria apply:
- You must be 18
- Creators need to be based in the US, UK, Germany, Spain or Italy.
- Have at least 10,000 followers
- Your videos need to have 100,000 views within the last 30 days.
- You follow TikTik Community Guidelines and terms of service.
You might have noticed that Canada wasn’t on the list of approved countries for the creator fund. That’s about to change. In mid-2022, Canadians can expect to sign up for the fund if they wish.
6. Work as a TikTok Consultant
How much can you make? If you’re a TikTok expert and have proven yourself, this could become your full-time job.
If you know how to succeed on TikTok, you can get paid for your services. You can teach others how to up their follower count and create engaging content.
In addition to growing your own account, you can help others learn how to do the same thing.
Businesses might also need your services. You can help build brands and start buzz over certain products. Most businesses will pay a premium for these kinds of services.
7. Flip TikTok Accounts
How much can you make? Most accounts for sale are in the $100-$500 range, but it’s possible to go upwards of $1,000 and even more for the most desirable.
This option almost goes hand in hand with TikTok consulting. You grow the account by posting videos and engaging users.
The first step is to have a specific theme regarding the account. For instance, you can set up an account that revolves around makeup.
Add videos about the best products to use and show how-to videos to up your user engagement.
When you’ve reached a certain amount of followers, that account would be desirable to makeup brands. When the price is right, you can sell and start again.
While you don’t need a ton of followers to make money, increasing your views can bring in lots more cash. To do that, here are some tips to follow.
- Add a hashtag. Just like any other social media profile, if you want your content to be visible, adding hashtags is the way to go.
- Post regularly. Posting once a week won’t get you the followers and engagement you need. You need to post regularly, which means at least once a day and preferably even more than that to garner the attention you need.
- Collaborate. Reaching out to other influencers and collaborating on a video together is a great way to get new followers.
- Join a challenge. TikTok offers plenty of challenges, so why not join in on the fun? It’s a great way to up your engagement and adds visibility to your profile.
How Many Followers Needed on TikTok to Make Money In Canada?
The answer is it depends. If you want to join the platform’s creator fund (I’ll explain more about that later) you need to have at least 10,000 followers. However, that doesn’t mean you can’t reap the benefits from sponsorships and other brand deals.
In fact, many brands are more interested in hiring these micro-influencers (having 50k to 150k followers) due to their fanbase.
While they might not have as many followers as others, their followers usually care more about them and what they have to say. This can drive sales if the influencer gives a positive brand review.
Social media provides plenty of ways to earn extra money or even make it your career. TikTok is one of the fastest-growing social media platforms, and if you’re savvy enough, there are plenty of ways to get paid.
If you’re looking for other ways to earn cash and love the idea of using videos and posts to do it, check out how you can earn money on Instagram.