The Nielsen survey indicates that 92 percent of online consumers are more likely to make purchase decisions based on personal recommendations than traditional mass media. Similarly, word of mouth advertising influences Millennials 115% more than traditional advertising. This means that if your loyal consumers inform their family and friends about your products or services, your customer base and sales are likely to rise. What if there was a way to maximize word of mouth marketing and attract more prospects? One such way is by working with Key Opinion Leaders (KOLs).
What is a KOL?
A Key Opinion Leader is an organization or person known for their expertise and knowledge in a particular field. They are authorities in certain areas and usually attract a targeted audience to their niche and have a great effect on consumer behavior. They are trusted, and their audience respects their recommendations or opinions.
Partnering with a KOL allows you to connect with your targeted audience and entice them to trust your business. Most brands work with KOLs to reach more prospects in a targeted market and gain credibility.
Difference between KOLs and Influencers
Key opinion leaders can be defined as experts in their careers. Their knowledge and experience give them authenticity, credibility, and influence when they recommend a service or product. On the other hand, influencers depend on social media to make a living. They gain popularity by creating compelling and valuable content that attracts more followers. Most online influencers include bloggers, Instagram influencers, and celebrities. Companies partner with influencers to access their followers and attract more targeted customers.
What is the work of KOLs?
Unlike influencers, almost all KOLs are professionals with day jobs in their areas of specialization. KOLs don’t rely on influencing to earn income and are seen as experts in their careers or fields through the knowledge and experience gained over time. Most of these KOLs include professional advisors, doctors, dentists, designers, and politicians. Key Opinion Leader marketing is popular in industries where brand success is based on expert endorsements. These fields include healthcare, life sciences, pharmaceuticals, and more.
Benefits of KOL Marketing
Due to the ever-evolving marketing trends, KOL marketing is increasingly gaining popularity. Working with KOLs can benefit your brand in many ways including the following;
Reach your target audience – Key Opinion Leader marketing helps you reach a massive targeted audience and enable you to connect with your ideal audience. By so doing, you can create content that specifically appeals to your customers.
Earn credibility through word of mouth marketing – Several kinds of research have indicated that word of mouth is a powerful marketing tool. When happy customers tell others about your brand, many people are likely to trust your brand.
Generate more sales – A Key Opinion Leader can help raise awareness of your brand, which in turn helps increase sales as well as expand your customer base.
How to find a KOL
Finding a KOL is pretty easy. Try searching on YouTube using keywords related to your brand or search popular Instagram hashtags. Alternatively, you can keep updates with industry news to find featured experts in your particular field.
Similarly, you can hire a professional Social Media Analytics company like NetBaseQuid, which uses advanced tools to generate useful insights you need to achieve your business goals- the ultimate choice.
NetBaseQuid is a top tier Social Media Analysis Company dedicated to helping brands with consumer and market intelligence. They use the latest social media tools to generate accurate, deep, and real-time consumer insights you need to boost your campaign marketing strategies, improve crisis management, and protect your brand.