Business

The Use of a Key Opinion Leader (KOL), with the Example of Netbase Quid, for Digital Growth

Introduction to KOLS

Previous research indicates that people’s preferences for products are primarily influenced by word of mouth instead of other forms of advertisements. The need for person-centered influence is the idea behind key opinion leaders (KOLs). It refers to an individual or enterprise with special knowledge in a product or industry, leading to mass societal effects over decisions regarding such products. They must have admirable status in society to cause a desirable influence with whatever decisions they make. For instance, influence following a company’s social media pages.

Using KOLs for Digital Growth

1. For Specific Target Market

Regardless of the niche, a key opinion leader has expert areas. It’s insignificant to choose them without having specific business objectives for digital growth. These leaders are strong in different areas where they possess significant knowledge and following, leading to their idol status in their communities. Therefore, businesses should target using them in their areas of expertise. For instance, if a company sells beauty products, it targets mainly young people and some aged people who fantasize about such products. The only KOLs that can drive its digital reception are those with a solid digital presence in beauty since they attract and influence their followers’ choice of beauty products.

2. To Increase Online Sales

Businesses conduct any form of promotion, be it traditional or digital, to increase their sales volume. Similarly, any digital growth boosts a firm’s online presence, increasing its chances to sell products through electronic commerce. When a company hires a key opinion leader, it does not extend its sales requirements for such personnel. Instead, the aim is to use their expertise and influence in different areas to influence likely followers into customers, leveraging KOL followers. Most of them influence their followers’ purchase and use of products they use or purport to support. Many people idolize them and depend on their product reviews in making purchasing decisions between different brands. In such cases, companies use key opinion leaders to manipulate how people perceive their products. It happens if people had a negative perception and the influence of a KOL is needed to change it or when a business outright wants to create a positive review of its products.

How KOLs Turn Data into Critical Insights

A firm must integrate, analyze, and communicate decisive insights from key opinion leaders to relevant stakeholders. Doing this leverages the different platforms that they use to gain strong reputations. Most contemporary KOLs use online platforms to build their admirable status in society, with social media channels leading in this category, for instance, Facebook and YouTube. These platforms have various metrics that users use to gauge their level of influence. For example, if a YouTube user mostly posts health and wellness videos, they are likely to gain a leadership status in health matters. Their channel offers likes, views, and comments that determine the numbers behind such posts. They also possess expert knowledge in their area, understanding the reception of followers and how they perceive their posts. Therefore, companies using KOLs expect to receive critical information on specific populations that they influence.

Netbase Quid

By using KOLs, a company can either subscribe to the services of an individual or company with a strong presence and expert knowledge in particular niches. Netbase Quid is one expert company with specialist knowledge and influence in social media analytics. It uses its specialized personnel and software to manage the social media pages of firms, advising them on important decisions based on the pages’ performance. Many firms trust their key opinion leaders in social media and partner with it to increase their digital and market presence.

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