Making the Most of Key Opinion Leaders (KOLs) in 2021

Marketing is one of the critical pillars of an organization’s success. Therefore, no matter how great the products or services are, a business must still work hard to prevail in its marketing practices. One of the key players in the journey is the Key Opinion Leaders.

Who is a Key Opinion Leader (KOL)?

A KOL is anybody or an organization with powerful social status, thus, respected and trusted by the community. KOLs include successful politicians, professionals such as professors or doctors, and celebrities, among others. What makes them miraculous in marketing new products and services is the unparalleled respect and trust that the majority have in them. KOLs must not necessarily have an online platform or command a vast online following – they need only the trust and hope that people have in them.

How to Select the Appropriate KOL for a Marketing Campaign

While it’s true that Key Opinion Leaders are well-trusted people in society, one can’t just pick anybody to lead their marketing campaigns. Here are a few factors to consider before hiring a KOL; let’s take a look.

1. Their Niche of Specialization

The niche in which the prospective Key Opinion Leader specializes and plays a significant role in dictating the likelihood of success. For instance, a business developing and selling computer software should engage an IT specialist and not a medical doctor as their KOL. It’s important because it ensures the information about the given products or services reaches the relevant audience.

2. The Company’s Specific Goals

This another critical factor to consider. The company needs to know the types of media channels they want to use before choosing a KOL. For example, they must decide whether they want their campaigns to be aired on TV or social media. They also have to decide whether they’ll be using written content, video clips, or audio. With that kind of information upfront, they can never go wrong in picking the right Key Opinion Leader is concerned.

3. The Cost of Hiring

The price of hiring the influencer can’t go unmentioned. No company would want to pay more than what they will get in return. Therefore, everything must be done while keeping in mind the main aim of doing business, maximizing profits. The companies should go for only the experts they can afford to pay and never to go with anyone that comes their way.

Running a Successful Opinion Leader Marketing Campaign

As with any other kind of brand campaign, there must be constant tracking and analysis of the clients’ responses. Doing so would help in determining the effectiveness of the KOL practices that were put into action. The information will also be important in working out the overall success of the entire marketing campaign. Here are some of the tools that businesses can use for tracking and analyzing the data.

  • Social Media Analytics tools
  • HubSpot
  • AdRoll
  • Rocket Fuel and
  • Choice Stream, among others.

An organization may also consider working with NetBase Quid to track, analyze, and other marketing needs. The NetBase Quid platform uses artificial intelligence to provide businesses with accurate market trends and critical information about competitors. This data is vital for the proper planning and survival of businesses in the aggressively competitive market. Some of the services offered by NetBase Quid are;

  • Consultations
  • Product Innovations
  • Marketing and Communications management
  • Measurement of Return on Investment
  • Provision of influencers and Key Opinion Leaders etc.

NetBase Quid serves business from a wide range of industries, including Health, Finance, Education, and automotive, among others.