So you want to turn video creation into a job? You’re not alone! TikTok has taken the world by storm and amassed more than 1 billion active users, many of whom are looking to make a profit.
But can you make money off TikTok? Although it’s a bit different than on other platforms, it’s not impossible. In this guide, I’ll explain the do’s and the don’t’s and tell you how to make money on Tik Tok in Canada.
Let’s get scrolling!
The Top Ways to Make Money on TikTok in Canada
Contrary to popular belief, there is a right and wrong way of earning a TikTok salary. Below, I’ll tell you the best methods for raking in the dough.
Promote your Business
This one’s pretty obvious, but it’s still one of the top ways to turn TikTok into a career. So, if you have a product or service to sell, the app is a great place to promote it by making witty and eye-catching videos. You can show off what you have to offer and drive traffic to your website once you’ve garnered more views, likes, and a larger audience.
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But, for this to work, you’ll need a strong selling point. What makes your business unique? Why should your followers come to you instead of a competitor? Think about these questions and weave the answers into your posts to ensure your audience knows there isn’t anyone else like you.
Earn Virtual Gifts from Live Streams
Canadian TikTok influencers can also take advantage of live streams. Why? Because TikTok offers a feature that lets followers interact with creators whenever they go live by sending virtual gifts. Then, you can convert these gifts into cash.
But, there’s a catch. For this to be profitable, you’ll need to research when your audience is most active and ensure you have a large reach before hopping on stream, because what’s the point of streaming if no one’s watching? You can also promote your live streams in preceding posts and let your followers know when they can catch you online.
Get a Sponsorship
It’s no surprise that TikTok payments generally come from sponsorships – agreements for influencers to promote and recommend a brand’s product or service on their page, like an advertisement. So, as your following grows, you may be approached by brands who want to sponsor your content.
Sponsorship deals can be incredibly lucrative, which is why TikTok has even created a space for influencers and brands to connect, called the creator marketplace. Here, brands can search the marketplace for the right influencer to promote them. It’s a win-win for both parties!
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Promote Affiliate Products
Another great way to make money on TikTok is by promoting affiliate products. However, for this to work, you’ll need to have an already established and dedicated follower base.
Affiliates work in the same way as sponsorships, except the creator will encourage their audience to visit the brand’s website and buy from them. If there is a purchase made, the influencer will receive either a flat rate or a percentage of the sale, depending on the agreement.
Sell your own Products
Canadian TikToks allow creators to sell their own physical or digital products. For example, you can sell merch like T-shirts or stickers with your username or catchphrase. Or, if you’re a musician, you could sell your songs directly from your videos or through a link in your bio. Bonus points if you make your posts funny and engaging!
Join the Creator Fund
If you’ve been in the TikTok sphere and haven’t been living under a rock, you’ve definitely heard of the Creator Fund. Namely, this program allows you to make money from your videos since TikTok pays 2 to 4 cents per 1,000 views. Although it might not seem like much, the amount quickly racks up if your video goes viral and accumulates millions of views.
However, not everyone that makes TikToks can join the Creator Fund. On the contrary, they need to meet several conditions, including the fact that you must be based in the US, UK, France, Germany, Spain, or Italy.
But wait, why am I telling you to join the Creator Fund if it’s not even available in Canada? Don’t worry, Canadian TikToker influencers will soon be able to dance their way to the bank as well since the app might include Canada in the fund in 2022!
Work as a Consultant
But what does that have to do with TikTok? Well, you can work as a TikTok consultant (yes, it’s a thing)! As the app grows in popularity, more people are getting involved and sharing their expertise on different matters. So, if you have experience with social media marketing, you could try your hand as a consultant and help creators execute their TikTok strategy.
On the other hand, if you don’t want to work with influencers, you can offer your services to a plethora of businesses that are willing to pay a premium price for your speciality. The world really is your oyster!
Flip TikTok Accounts
Finally, if you know what flipping houses means, you’ll understand what flipping TikTok accounts is. This method is a bit more advanced than the previous ones, but it carries significant potential for profitability. Essentially, you buy undervalued TikTok accounts with a good following, grow them organically, and then sell them for more than you paid.
So, if TikTok monetization isn’t the right fit for you, this option is another great way to make money quickly. All you need to do is set a specific theme for the account and add videos relating to your niche to increase user engagement. When your account has reached a large audience, it will become attractive to larger brands that would pay a pretty penny for it.
Tips for Making More Money
The previous points are all well and good – if you already have a larger following. But, if you’re a new TikToker who’s just getting started, you likely won’t have many options for profit. So, I’ll provide some tips to help your videos stand out.
Find a Niche
One of the best ways to be noticed on TikTok is to focus on a specific niche. Currently, the most popular ones are dancing, cooking tutorials, and makeup tips, but you can basically find anything under the sun. Then, you can increase your audience more easily because you’ll attract people who are interested in your content.
If possible, you can also try your hand at collaborations with other Canadian TikTok influencers in your niche. That way, you can both cross-promote each other, leading to more engagement for both sides. In addition, you can also do challenges you see other influencers doing and get in on the hype.
Build your Brand
Unsurprisingly, building a personal brand can help you attract sponsorships and other profitable opportunities. To do this, make sure your username is consistent across all platforms and use specific hashtags (like #foryoupage) or branding elements in your videos that make you easily distinguishable from other creators with similar content.
Additionally, you can also use viral music that fits your brand, while simultaneously paying mind to your brand awareness. As you can tell, going viral is a delicate dance with no guaranteed increase in your TikTok monetization.
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Provide Free Value
If you want people to buy your products, use your services, or just like your videos, you need to give them a reason to do so. Namely, you should offer your followers something valuable for free, like an e-book you’ve written or a discount code for a brand they would enjoy. By doing this, you’re showing potential customers that you know what you’re talking about.
For example, if you’re running TikTok advertisements about a cookbook, you could make a few video tutorials for some recipes from the book and show your audience what you have to offer before encouraging them to buy.
Focus on Engagement
As you know, TikTok is all about interactivity and engagement. So, the more likes, comments, and shares your videos get, the more likely TikTok is to promote them on the FYP. For that reason, you need to ensure you’re regularly responding to comments, answering questions, going live, and generally engaging with your followers.
Also, you can use the Analytics tool in the TikTok creator studio to track your progress and see which videos are performing well so you can continue doing what works best.
What is The TikTok Creator Fund?
I already briefly mentioned the Creator Fund, but let’s get into the nooks and crannies of the program.
The TikTok Creator Fund is a program that allows eligible creators in certain countries to make money directly from their posts. Unfortunately, the fund is not easily accessible if you’re a new creator and haven’t been around for long enough to see significant growth on your account. To be eligible for the fund, you must meet the following conditions:
- You must be at least 18 years old
- You must be based in the US, UK, France, Germany, Spain, or Italy
- You must have at least 10,000 followers
- You must follow TikTok’s Terms of Service and Community Guidelines
- You must have gathered 100,000 views on your videos in the last 30 days
If you’re accepted into the fund, you’ll be able to get a certain TikTok salary from the views on your videos. Plus, you can see how much money you’ve earned through the Analytics section of your account.
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However, if you thought that influencers strike gold with every video, you’re dead wrong. To be able to garner a large amount of money through the fund, a creator needs to get a lot of views, because TikTok only pays about $15 per 500,000 views and about $45 for 1 million.
But, if you go viral and get an exorbitant amount of eyes on your video, you can easily pay for your next vacation with your TikTok monetization. So really, it’s mostly down to luck and patience.
As you can see, there are a few different ways that can teach you how to make money on TikTok in Canada. Whether you’re promoting your business, selling products, or working as a TikTok consultant, there’s an opportunity for you to cash in on the craze, so start posting!
Unfortunately, the TikTok Creator Fund is currently unavailable in Canada. However, rumour has it that that’s subject to change in 2022, so we’ll just have to wait and see.
There are a few different ways to earn a TikTok payment. Some of them include receiving virtual gifts from live streams, getting sponsorships, promoting affiliates, selling your own products, joining the Creator Fund, working as a TikTok consultant, and flipping accounts. Each option has pros and cons.
Yes, Canadian TikTok influencers can make money through promoting their business, getting sponsorships, selling products, and promoting affiliates.