The KOL bubble: how brands can earn the trust of China’s affluent demographic
Some key opinion leaders do have loyal followings, but with so many now on the scene, luxury brands might consider more creative ways to work with those who inspire
It’s time to talk about China’s KOL bubble.
KOLs (key opinion leaders) have become a big part of any brand’s checklist when operating in China. If that needs further explanation, then you’re already a few years behind the curve. KOLs represent many aspects of modern society in China; they ride on a concept taken from the West (influencers, in this case) which has been super-charged into massive earnings and income potential.
KOLs have more influence on consumption behaviour and social trends than movie stars and singers do. There are Chinese KOLs in every imaginable field – not only in fashion and sports, but also in travel, pets, parks and gardens. With a population as big and as diverse as China’s, there’s something for everyone.
But have we reached a stage of overreliance on KOLs? And are certain China marketing/ business experts guilty of reducing KOL marketing to mere instruments for advertising purposes?
This isn’t about hating the influencer industry; it’s a frank attempt to examine what the future might hold for the KOL boom.
Capitalise – but via collaboration, not ads
While brands of all sorts are still able to capitalise on KOL collaboration – and in 2018, they still should – the world of the KOL is still in boom mode.
Some agencies specialising in KOL marketing boast of having over 30,000 KOLs on their books – a number which should sound alarm bells.