30 Aug THE EFFECTIVENESS OF KOL MARKETING
THE EFFECTIVENESS OF KOL MARKETING
Technological advancement has changed the way brands communicate. Brands don’t just rely on mainline advertisements but go beyond to achieve success.
This new kind of word of mouth advertising involves social media and recommendations from influencers or as they are called Key Opinion Leaders (KOL) in China.
The massive amount of social media consumption has had the power to influence a person’s decision making capacity and motivated them to purchase a brand’s product.
How have these KOL taken over the market?
The clutter of advertisements has confused the audience more than before. KOL are considered to be more vital than mass media since they are able to connect and relate to their audience in a way that is more authentic and intimate.
These KOL are the ones who are performing double duties of not only connecting with their audience but also have a specific target demographic.
Such an approach allows brands to effectively allocate their marketing budget and focus on building a long term relationship with the targeted niche audience. This is completely opposite to the trigger of buying a product after watching a 1 minute advertisement on television or passing by a billboard advertisement.
How to find the best Key Opinion Leaders?
Brands should start by considering how relevant the influencer is with their target demographic. It is important to assess which influencer is most visible and targets the right people and potential customers.
There is a contrast between micro-influencers, middle-influencers, macro-influencers and bloggers. In order to determine the reach for your campaign, companies need to consider not just their budget but also in terms of their brand image.
Having found the right KOL for your brand, you would want to know what to do next?
Two platforms that have captured the Chinese market are WeChat and Live Streaming. These apps can be used to promote your brand and act as a starting point for you.
- WeChat – WeChat has been evolving and gives access to the subscription accounts of KOLs. The app allows for a seamless link to ecommerce mini programs. This means a person can read the content posted by a KOL, browse programs and share content with friends without leaving the WeChat app.
- Live Streaming – Another fruitful way to get to your influencer is with the help of live streaming. Everyone is on their phone, either while walking to the bus stop or waiting for the metro and many times people are just swiping through various live streams. These live streams could be used for launching a new product, asking for opinions or playing a guitar. Live Streaming in China recorded views of over 425 million by July 2018 alone and accounts for 200 million registered users.