In China, KOL economy (網紅經濟), a digital economy based on KOL marketing(網紅營銷) in social media, has proved to be a very lucrative business for KOLs. Considering the country has over 750 million internet users, and the youngest generation of consumers is pushing for a fully digital retail landscape, it’s not surprising that brands are moving away from traditional channels.
70% of brands will continue to increase their digital marketing budget in 2019. 71% of marketers will boost spending on social media marketing,and 67% will direct their budget to KOL promotion(網紅營銷). Developing strategic partnerships with KOLs remains a top priority for marketers, but this KOL marketing trend has also brought about new challenges and risks.
It’s become evident that UGC increases sales, but that doesn’t mean KOL marketing(網紅營銷) doesn’t have vulnerabilities. In a world where a simple social media post can bring a 4 figure payoff, it’s tempting to try by buying “likes” and fake followers to increase engagement. This has become common, but brands are bleeding marketing budgets out.
How can companies doing China KOL Marketing(網紅營銷) combat fake followers?
Fake followers are a fundamental part of Chinese social media platforms. Nevertheless, it will ultimately undermine consumer confidence.
So, brands should only partner with KOLs who don’t buy followers and seek partnerships with KOLs who strive to increase transparency and help eradicate bad practices throughout the whole ecosystem.
The easiest way to analyze a KOL’s engagement is by checking their long-term performance. Brands should consider KOLs with a natural growth curve, while “shooting stars” and KOLs who record sudden spikes in engagement should be disregarded.
There are more methods. With rich experiences on China KOL marketing(中國網紅營銷) ,WeChatAgency will research KOLs thoroughly and make sure our clients are getting the type of engagement they’re paying for.
Source: The Latest Enemy of Brands in China? Fake Followers——Jing Daily