There has been a significant shift in the way brands are being marketed to the audience in the recent years. Traditional marketing methods no longer suffice, as consumers’ attention is now fragmented into various channels. The reshaping of media consumption habits has changed the way consumers interact with brands. While this change is tremendous, it comes with its difficulties as well as merits.
The challenges lie in the fact that conventional marketing strategies need a complete overhaul. The mindset must change, and consequently the approach has to be altered too. Many brands have adapted to this change, and the ones who have not have been left behind in the race. The benefit of the new system is that it allows companies to reach exactly who they want and how they want to. This has given rise to a new type of promotion medium - Key Opinion Leaders or KOLs.
KOLs or Influencers may not be an alien concept for the fashion industry, but social media has remodelled the system. Since the internet gives the opportunity to everyone to voice themselves, there are many types of KOLs in the industry, from all walks of life. Social media channels are flooded with accounts of fashion bloggers, style experts and budding fashionistas, gaining rapid popularity and a surge in number of followers. The power of these influencers is so impactful, that the industry has taken notice of it. Condé Nast Italia has recently opened a Social Academy in Milan with a 6-month course on social media practices and digital influencer marketing, which coaches students who are passionate about advancing their career in this space, and become a successful influencer.
Evidently, this type of content has remarkable command on the purchasing behaviour of consumers. And a brand must choose how to use this new system to their advantage. An ideal KOL is one who displays similar values as that of the brand, interacts frequently with followers, is always updated on fashion news and trends, and can truly become consumers’ fashion consumption reference point.
This report analyses how the KOL economy has come into being, how it functions and what are the latest trends in this sphere of marketing.
KOL as a New Marketing Platform
Impact of KOLs on Consumers
Strategies used for Product Advertising via KOLs
Trending Methods used by KOLs
KOL Marketing in China
Risks of the Brand Promotion by KOLs