People have heard about influence marketing and KOL marketing many times. With influencer marketing, brands work with influencers to promote their products or services. In comparison, KOL (Key Opinion Leader) marketing allows brands to work with specialists in a specific area to promote through social media platforms and encourage brand recognition. KOL has become very popular in recent years since people are overwhelmed with the flood of advertising and trust more in specialists who have deep knowledge and experiences in a particular field.
What is KOL marketing?
Let's drill down the definition of KOL marketing for a better understanding to plan a successful campaign. Key Opinion Leader (KOL) involves a company coordinating people who have expert knowledge in a subject or just an aspect of it. This subject needs to relate to a brand or the group of target audiences who are interested in a brand's product. Most of KOLs work virtually to gain their reputation via blogs or other digital platforms. But it's important to know that KOL predates the internet, and KOL marketing can occur online as long as there have been experts. However, successful KOL marketing requires people to specialize in a field and have a reputation in the virtual world because they need to significantly influence people's behavior or your firm's target audience in specific.
We can differentiate KOL marketing from celebrity marketing with an example of coordinating with a football star if a business wants to promote a new collection of shoes depending on his reputation without expert knowledge or understanding of sports footwear. However, suppose a brand works with the same football player to promote football coaching courses or new arrival of football boost that genuinely increases playing performance. In that case, it could be considered KOL marketing. Compared to influencer marketing, most influencers don't have sufficient expert understanding in a particular field that they usually talk about; they are instead experts at communication.
Considerations you should look at when working with KOLs
1. How relevant the KOL is to your market
It would be best to work with famous people whose areas of expertise match the topic that resonates with your target market. And KOLs have tremendous respect; their endorsement can generate a vast of sales opportunities for your company.
2. The reach of KOL
Although reach is not the essential priority factor, KOLs in a broad subject will have a larger audience than others in a narrow niche.
3. The KOL's engagement rate
When searching KOLs for your marketing campaign, you should analyze how they involve target audiences through their posts' number of comments, reactions, and shares. KOLs operate in narrow niches are usually made up of a high engagement rate.
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