Unless you’re an avid time traveler from the 1800s, you probably already know what an influencer is. (If you really fall into the first category, welcome to 2022! Wait until you hear about BeReal.) Influence as a career has had a significant impact on social marketing and the media industry in general.
But not all influencers are equal and there is a new community of famous people using ring lights to make a difference. These industry leaders are called KOLs and are a valuable part of any modern social media marketing strategy.
In this blog post, we’ll walk you through the ins and outs of KOLs: what they are, why they’re great for marketing, and how to find the right KOL for your brand. Scroll some more (time traveler: not that kind of scroll).
What is KOL?
KOL stands for “opinion leader”. KOL is similar to an influencer in that they have influence: KOLs have a significant following made up of people who care about their values, and often these people are willing to put their own money into what the person deems worthy.
The main difference between influencers and KOLs is that KOLs have a narrower audience and are generally valued as experts in that niche. Also, influencers are a particular online phenomenon, and KOLs don’t have to be online (but since we’re talking about social marketing in this post, we’ll just focus on those who do).
For example, influential canine fashion influencer @jiffpom has over 9 million loyal followers, but wouldn’t be considered a key opinion leader in a particular niche (sorry Jiff, good thing you can’t read).
Also in the animal category is Dr Lauren Thielen. She is an exotic animal veterinarian and is considered a KOL: people rely on her to share knowledge in their particular niche and she is considered a knowledgeable expert.
4 reasons to work with KOL
So why turn to KOL for a social marketing partnership? Let’s count the paths:
1. Reach a wider (and more engaged) audience
Collaborating with other creators will always result in your brand appearing in more channels – your business will be available to both your followers and the creator’s followers. This is why influencer marketing is so popular.
So a wider audience is a given. But since KOLs have a narrower audience, their followers tend to be more engaged: they are more likely to like, comment, and share posts. It’s better for business.
Followers are not just about quantity (and besides, there are a lot of follower bots on Instagram and they are not going to support you financially) — having a small community of quality followers is more important than gaining a certain number.
2. Make more sales
This is the end goal of any marketing campaign, right?
Due to the factors mentioned above (reaching more of the more active social media users), it is easier to convert your social media presence into sales if you partner with KOL. They are leaders in their field, so their endorsement of any product is likely to result in more sales.
In addition to monetary support, there is some authentication associated with the KOL relationship, but more on that in the next section.
3. Enlist the help of experts
It’s not just about money. Public endorsement from a respected industry expert associated with your brand is invaluable in terms of your audience’s trust in your product.
In short: KOL support makes you more legit.
This drives sales, but it can also help expand your community and make you more attractive to potential future employees. The influencer you’ve been in contact with may be more likely to partner with you if you have support from KOL. The same goes for the company you want to draw with.
Expert support can distinguish good social marketing from great social marketing. This proves that you are not just talking.
4. Go beyond social marketing naturally
Here’s where the key difference between KOLs and influencers comes in handy: KOLs don’t have to be on social media. Stay with us.
KOLs don’t usually build their audience through social media. They are experts in their field, so they can win over their followers through successful businesses, professional conferences, or even word of mouth. As a rule, subscribers in social networks appear after they have already created this audience.
We mentioned earlier that we only focus on KOLs who have social media followers, and that’s true. But partnering with KOL could also reach audiences outside of social media.
For example, Dr. Sanjay Gupta is a neurosurgeon, writer, podcast host, and respected opinion leader in the medical field. He has a presence on social media (245k followers on Instagram, 2.5m on Twitter), but he also has people who follow his research, watch him on TV, listen to his podcasts, and read his work.
When someone like Dr. Gupta publicly endorses your brand, it’s good for business, not just communication. He’s not just on the show, he’s on TV, giving Big Bird interviews and hosting podcasts.
How to find the right KOLs for your brand
If you’re just getting started with KOL marketing, finding the right leads can be a daunting task. Here are some tips on how to create the perfect partnership.
Look for KOLs in an industry related to your brand.
Just because you admire a key influencer doesn’t mean they’re a good fit for a partnership. Make sure the KOLs you want to work with work in a field related to yours.
Study KOLs carefully before using them.
We’ll touch on this in more detail in the next section, but the short and dirty truth is that you don’t want to team up with anyone who can give your brand a bad name. Make sure you take a deep dive into their social media (and any other information you can get!) to make sure you don’t accidentally partner with a PR nightmare.
Seek advice from other successful brands
The cool companies you look up to have probably partnered with KOL in the past. Get some inspiration from them and reach out to similar leaders.
Only contact KOLs with experience in social media.
As mentioned earlier, Key Influencers do not need a social media presence to be considered a KOL, but since you are partnering with the ultimate goal of growing your business online, you need to make sure that any KOL you partner with is social media savvy.
Look for KOLs who have partnered with brands in the past.
Many key opinion leaders have already partnered with businesses, and experience is always a good thing. A KOL that has a media kit or other collaboration-related information on their website likely has at least some basic knowledge of how a brand partnership works.
Make a public call
This is not a very specific strategy, but it requires a small investment and can potentially bring a lot of profit. Social media outreach (requesting key opinion leaders on a given topic) is quick and gives your audience the opportunity to recommend experts. It’s not a foolproof game plan, but you never know what a public call might bring.
4 Tips for Getting the Most Out of KOL Marketing
Okay, now you know everything you need to know about key opinion leaders. Here’s how to make sure you’re using this marketing strategy to its full potential.
1. Do your research
You wouldn’t hire a new employee without an interview and reference check, right? While partnering with a key influencer is not the same as having them working for you, some of the same principles apply: KOL is now an extension of your brand and anything they do or say can impact your company. The last thing you want is to join someone who has been #cancelled.
So, do your research. Don’t just make sure KOLs have an engaged audience and an effective social presence – you also need to make sure their values and ethics align with your brand (and your brand’s fans).
There is always a risk involved in spreading your brand to other people, but you can mitigate some of that risk by scouring the internet beforehand (“Is [KOL’s name here] racist”is a good Google search to start with, IMHO).
2. Know Your Goals—and Communicate Clearly
Before approaching KOL for a potential collaboration, make sure you know what you want from the relationship. If you don’t communicate your needs clearly (or worse, if you don’t know what your needs are), it’s likely that KOL won’t be able to deliver a successful outcome.
A clear description of your goals is the best way to make sure they are achieved. The goal might look like reaching a certain number of followers, getting a certain number of affiliate link uses, or simply getting a certain number of likes or shares of KOL content. Whatever your goal is, make it crystal clear.
Trust their advice
They are not called leaders for nothing. KOLs are experts: they know what they’re talking about, and if they offer you insight or guidance, seriously consider it.
You are not looking for a partnership with KOL just because of their social activity. You (and your prospects) genuinely value their opinions, so you should respect them even if they go against your original plan. Collaboration should be, well, collaborative, and it’s important that the KOL you work with feel like their input is valued – which brings us to our next point:
4. Invest time, effort and money in partnership
Equality is important in any partnership, and the KOLs you partner with should feel this sense of equality in your relationship. A key opinion leader (or any person, for that matter) doesn’t want to feel used.
So yes, listen to their advice, but also put all the resources you can into the partnership. Make sure you respond to their emails quickly, be friendly and welcoming, and compensate them well. Ideally, you will form a positive relationship with KOL that can last for a long time and potentially lead to other partnerships in the future.
If adequate resources are not invested in such a collab, KOL can feel uncomfortable, which is generally bad (we want everyone to have a good time) and very bad for business (when things go wrong, you need experts on your side). This is not a last minute commitment, outside of your desktop. You will get out of it what you put into it.
And with that, we officially believe that you are ready to start your first partnership with KOL. Go! Go! Go!