A Key Opinion Leader (KOL) is a person or an organization with an influential social status. Their opinions and recommendations are more accepted by the community, especially when making important decisions. Most of these opinion leaders have a prominent position in the societies they influence, making their opinion more powerful. People perceive them to be more authentic and not just as company representatives.
Why they are Beneficial to Businesses
When organizations use opinion leaders as their marketing strategies, public views are more genuine. They believe that a famous person would not associate themselves with harmful products and services. Key opinion leaders help their businesses get genuine interest from the target customers because they will trust them more.
How to Get the Right Key Opinion Leader for your Business
Today, getting a Key Opinion Leader is very easy. Most of them sell their services through social media. You can also contact an external agent like NetBase Quid to help with the process. They will help you identify the best person to use for your brand depending on the content the leader deals with and the audience they attract. Before settling for one, consider what benefits the leader will bring to your company and not according to the number of followers on social media.
The price is something one should also consider before choosing the person who will represent your brand. KOLs with less than ten thousand followers are more affordable. We also have over ten thousand followers whose prices are slightly higher, but they will give you more extensive visibility of your product. However, the engagement rate for this group of leaders is much lower.
Types of Key Opinion Leaders
We have two primary types of opinion leaders as listed below:
1. Monomorphic Opinion Leader
A Monomorphic leader communicates and deals with only one type of product, service, topic, or niche. They help the consumers fully understand a particular item before they consider making a purchase. They ensure they educate the public by analyzing the product broadly, covering the smallest detail about the topic.
2. Polymorphic Opinion Leader
The Polymorphic Opinion Leader is an individual who acts as an opinion leader for a diverse selection of products topics and niches.
Examples of Opinion Leaders
Opinion leaders don’t have to be the local celebrities everyone is talking about. They are everywhere, and therefore businesses need to treat their customers better because they could be their next source of sale. Listed below are a few examples.
- During a casual meeting with friends, one of them talks about a recent purchase and recommends it to friends.
- A couple back from their honeymoon, they show their photographs of all the places they visited and the picture quality is excellent, and they recommend their friends and family to buy the camera brand.
- A parent is about to admit a child to school, and he asks around other parents in the neighborhood to recommend the best schools available.
Characteristics of Opinion Leaders
Key Opinion Leadership is a dynamic process and a powerful force for the consumers. They are informal communication with an eminent power of influence. However, the opinion leader must possess one or more of the following characteristics.
1. Credibility
The opinion leaders are knowledgeable, but this is not enough. They should be credible enough for them to win the trust of their audience.
2. A Reliable and Credible Source Of Information
The leaders should be a reliable source of information. They should respond to all queries by the consumers.
3. They Should Provide Positive and Negative Information
There are always two sides to a coin in every situation. Key Opinion Leaders are not direct marketers, so they should give even the negative report of a product to the audience.