The term KOL (Key Opinion Leaders) is a professional term used in marketing circles referring to famous people such as celebrities who can influence the public in one way or another. They are a valued part of the marketing strategy for many businesses since their fans always hold them in high regard and if they endorse a certain product, you can be sure that their fans will embrace the product or service wholeheartedly. For instance, athletes in different sports have become the ideal key opinion leaders in their field making corporate highly interested in making them a part of the team. That is why you find that the most popular basketball players will be affiliated with a certain shoe brand. Here is how important these opinion leaders are to a business.
Getting an Already Established Fan Base
A KOL is highly valued in marketing circles because of their reach and how much they can influence their fans and followers. Since a business’s objective is to attract new clientele, the already established market base is highly lucrative. Today, most celebrities have very active social media profiles. These profiles are usually followed by millions and sometimes even hundreds of millions of followers. As such, when such a celebrity endorses a product, the company can expect a handsome portion of these fans to get curious about it and in some cases even adopt it entirely because of the level of trust they place in the celebrity. When a business works with the opinion leader, they can creatively come up with the best way to keep the target demographic engaged and interested.
Although traditional marketing certainly still has its way in our hearts, it’s important to know that certain demographics respond well to certain types of content. For instance, millennials and generation z tend to gravitate more to social media than traditional television advertisements. As such, to reach that potential client, a company needs to create content that resonates with them. Today, serious key opinion leaders have a particular style and tone to their videos that customers have come to love and appreciate. By bringing this content creator into the fold, the business is able to release content that is not only accurate but also catchy and entertaining. Furthermore, once the content has been created, the influencer can share the videos on their different platforms ensuring that their fans see them and the product they support.
Consumers Relate More to Influencers Than They Do Businesses
According to some statistics, people trust key opinion leaders more than they do businesses by themselves. Today, many businesses have created social media pages to keep their customers and fans abreast about what’s going on with the company, communicate with them, and get feedback where necessary. However, the numbers show that many people don’t trust the content businesses place on their pages. For instance, when a burger company places a post on Instagram saying how delicious their burger is, people are less likely to believe the post. However, when a key opinion leader says that a burger is delicious, their fans will likely believe it and buy from the business the celebrity got the burger from. In the eyes of consumers, KOLs are more authentic and intimate thereby making their endorsements very valuable.
Once you have engaged a Key Opinion Leader, the business will have to find proper ways to follow up on the progress being made and how the market is behaving. To monitor this, the company can leverage powerful tools such as NetBase Quid to analyze the markets, follow activity non-social media to find out whether their campaigns are working or not. Using this information, a company can identify strategies that work and those that don’t.