Your KOL marketing winning formula: what are the critical factors to succeed in KOL marketing?
Updated: Nov 2, 2022
When doing marketing campaigns, it is important to weigh in the factors that will affect the success of a marketing campaign. This is because if brands can gauge and weigh in those success factors logically, their marketing campaigns can be one big step closer to success. The same applies to KOL Marketing, whereas if brands can gauge those success factors to KOL Marketing, they can pave the road to a successful KOL marketing campaign.
But what are the success factors to KOL marketing? While success to a KOL Marketing campaign can be affected by many different factors, the following few factors have proven to be great barriers in ensuring success to KOL marketing campaigns.
1. Cost Inefficient
To brands, being able to achieve better results with lower marketing budgets has always been desirable. With high cost-efficiency brands can advertise to more KOL videos at a lower cost. Unfortunately, under traditional KOL marketing, campaigns are expensive, and normally one campaign only corresponds to only one or at most a few videos. To brands looking to increase brand awareness across different KOL videos, this is highly inefficient.
2. Time Inefficient
In doing KOL Marketing, the timing in which the KOL video is published is crucial, as being able to tie-up KOL marketing with other campaigns like big sales season should help brands improve results with their overall marketing campaign. However, brands normally have no or very little control over when videos are released under traditional KOL marketing campaigns.
3. High HR Cost
Human Resources are often needed in KOL marketing because negotiations between the brand and the KOL are an integral part to traditional KOL marketing campaigns, where the process can dictate how long a KOL video will take to produce, and potentially affect the final costs incurred in a KOL marketing campaign. Ideally, the negotiation process should go smooth (where the KOL and the brand spend minimal time negotiating), and the KOL delivers what the brand desires, with no to minor alterations and no extra cost incurred by the brand during the process. However, this is mostly not the case, where the brand and the KOL often engage in numerous rounds of negotiations, and if both parties cannot come to terms, they could be forced to forfeit the KOL marketing campaign.
4. Discrepancies of Expectations
A factor to successful KOL marketing is being able to eliminate the various issues and troubles that may arise during the KOL marketing process. Apart from the lengthy negotiation process, another trouble brands often experience when doing KOL Marketing is whether the KOL can accurately represent the brand and deliver to their audience what the brand does in an accurate manner. In some cases, there may be discrepancies between what the brand expects of the KOL and what the KOL delivers to the audiences. , In the worst case, such discrepancies may involve re-filming to ensure that the message delivered by the KOL matches the brands expectations. Obviously, such re-filming would inevitably increase both the time and money costs to both sides.
Conversely, if the brand can capitalise on the aforementioned success factors, the brand can achieve their KOL Marketing winning formula, as illustrated below:
While this may be hard to achieve with traditional KOL Marketing methods, technology has facilitated brands to easily achieve so, where brands will only need to submit their advertisement and wait 24 hours, and their KOL marketing campaign will be live on YouTube, without high money and time cost, trouble, and any human resources involved! Below are some examples:
If you are in the search for a KOL marketing solution that can turn your KOL marketing winning formula into reality, then look no further! Zyviz.com is currently the leading AI-enabled MCN platform in the world, and our ground-breaking KOL video background marketing solution makes KOL marketing highly time-efficient and cost-effective. Visit www.zyviz.com or contact us through firstname.lastname@example.org. We gladly await your enquiry.