How your business can benefit from KOL marketing

KOL marketing and why you need to use it.

There are influencers in every niche market, and a large number of social media fans pay attention to their opinions. Connecting with these KOLs is a great way for business to reach their target audience. That’s what we called – KOL Marketing.

For some SMEs, KOL marketing may be an unknown area, but those who use it as part of a marketing kit tend to get the benefits of additional sales. Some companies hesitate because they are worried about the initial cost and little return, and because they have heard too many terrible stories about mistakes.

  • There are some misconceptions about KOL marketing, don’t be fooled by these myths:
  • KOL marketing is expensive
  • KOL marketing is only valid for large companies and well-known brands
  • KOL works with known companies
  • KOL Marketing is a one-time event choice.

But the truth is that these misunderstandings are not true. Even if you don’t have a high budget, SMEs can use KOL marketing to achieve good results. According to BlogLovin, 84% of KOL charges are less than $250 per Instagram postage, and 97% charge less than $500.

You can’t argue about the benefits. According to social media today, 63% of the Z population prefers traditional marketing, rather than traditional celebrities. They also point out that 34% of Millennials rely on social media to help guide their buying decisions.

Their main point is that on social media, key opinion leaders have taken a path between real people and celebrities. They are concerned by countless fans, but they are not celebrity titles, so their views are more trusted by the audience. Since trust has been established, people trust them when they praise your products online.

But the benefits don’t stop there. Current statistics show that 71% of consumers are more likely to make purchases based on the references they see on social media. You may already be using more traditional social media ads, but if they don’t work, KOL marketing is your next step.

So how do you know if KOL marketing is right for you?

You find that your current social media marketing budget doesn’t produce good results – so it’s time to try it out.
Your competitors do well on social media, but you are not – if your competitors perform well, it means that social media is an effective tool for your target audience. The problem is your social media strategy. KOL marketing strategies can be 11 times more effective than older digital marketing. If you can identify the right KOL, it will give you the competitive advantage you need.
You want to increase your social media attention, or your past experience has stabilized – finding the right KOL will help you connect with your new audience. Word of mouth is still an effective tool, and KOL advice is the best way to promote the word today.

The benefits of KOL marketing

1. Enter the game

Social media is a powerful marketing tool that increases online and offline sales. This is especially true for millennials and generations of z. KL will let followers find your product in the same way that affiliates drive viewers to visit product sites to increase sales. Followers will focus on key opinion leaders, so when KOL supports your brand, they will be loyal to you.

If you still don’t believe it, consider helping Gymshark’s booming fashion KOL from $0 to $1.5 million in just two years. They do this by looking for fashion KOL on social media sites like Instagram, Facebook, Pinterest and YouTube. Gymshark offers free clothing and KOL wears and supports them. With thousands of followers, Gymshark has won huge followers in a short period of time, gaining access to other people who don’t even know their products.

Scentbird is another example. Due to KOL marketing, their monthly income increased to $75,000. It all started with a YouTube KOL with more than 150,000 fans. After giving positive YouTube reviews, they completed 100 sales in just two days. Because of their great success in their first KOL marketing efforts, they have since used KOL marketing as their primary strategy.

So if you sell on social media, the evidence is clear and KOL marketing can boost your sales. As more and more people are directed to your website, sales will increase. Having said that, ROI tracking can pose challenges for some companies. Therefore, you may want to invest in a comprehensive tool to manage it. Grin or Buzzsumo is a great option for small and medium businesses to use some extra support.

2. Improve brand awareness

KOL with a large audience can help you connect with people who are unable to reach traditional ads. This is especially effective if you choose the right KOL for your niche market. Let KOL tag your brand to direct their followers to your social media page to help you increase your attention. They can also be used effectively for promotions such as contests and giveaways. This means a direct rise in sales and conversion rates. For more improvement, they encourage followers to tag friends to further expand the scope of the post.

Cottonelle is a good example of using KOL to promote brand awareness. Working with 30 childcare and lifestyle KOLs, they created their own personal narrative about Cottonelle products. A total of 700 articles were published, covering approximately 6 million people, with 23,000 clicks, likes, sharing and comments. Demonstrate the power of key opinion leaders as they seek to place your brand in the public eye.

3. Develop customer database

As we all know, customer registration is an important way to keep in touch with customers. But do you know that KOL can help achieve this goal? KOL Park is interested in your products and has set up a list that you will need to develop in just a few weeks; taking on a huge task, basically letting others do the heavy lifting. For companies just getting started, this is a huge gospel, and no staff collects lists from more traditional ways.

Clearly, using Key Opinion Leaders as part of a social media marketing strategy will help your business grow. They will increase brand awareness, help win loyalty and build trust. But deciding to use KOL marketing is only the first step; take the time to choose the right people to reach your targeted audience and optimize your ROI.

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