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Marketing

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Feb 20, 2024

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2.1 Application of KOL in Digital Marketing In the era of rapid development in digital age, influencer marketing like Key Opinion Leader (KOL) marketing has gained a strong momentum, which succeeded in engaging potential consumers at a relatively lower price compared to traditional marketing (Ong et al., 2022). In recent years, traditional marketing is gradually challenged and replaced by KOL marketing due to the trend of customer-centricity in digital marketing (Peng, 2021). For instance, recent endeavors, such as Wei's (2022) development of an information system for crafting tailored KOL marketing portfolios for sellers, have significantly contributed to the efficient formulation of marketing strategies in this dynamic field. Moreover, the definition of influencer is no longer limited to traditional celebrities like sports figures or movie stars, but has extended to encompass those who gained fame and broad influence via social media, such as bloggers and vloggers (Lee, 2018). According to Peng (2021), the market scale of KOL marketing has surged to an impressive range in China, reaching between 600 billion and 1 trillion CNY, and continues to experience explosive annual growth rates exceeding 100%. So far, it serves as a cost-effective method to make full use of data collected. 2.2 KOL Marketing in Different Product Sectors For fashion designers and brands, to establish a dominant presence in the fashion industry market through social media with the help of KOLs becomes extremely important (Zou & Peng, 2019). They are critical to the fashion industry through the channel of word-of-mouth marketing. Evidences from Schwemmer and Ziewiecki (2018) also indicates that in the German market, there is a growing trend of reliable opinion leader promoting beauty and fashion products. The multinational cosmetic and beauty company L'Oréal, combined with e-commerce, utilizes social media and KOL to improve its market strategy (Zhong, 2023). In the realm of skincare, research found that KOL plays an effective role in brand image building of skincare products, and the impact of KOL on brand image can somehow be moderated by social influence and skincare consciousness (Xiong et al., 2021). Another study conducted among Indonesian young adults shows that social media marketing activities (SMMAs) can stimulate consumer’s purchase intention of skincare products (Chrisniyanti & Fah, 2022). As for haircare products, external KOLs have been involved in the formulation of new products, offering scientific insights into hair health during the research and development process (PANEL, 2021). This enables consumers with different hair types to select products tailored to their needs based on KOL recommendations, thus potentially enhance consumer trust in the brand's expertise. For makeup products, celebrity KOLs have a positive impact on how young female customers perceive cosmetic products and their intention to make a purchase (Marjerison et al., 2020). While advertising fragrances products, it is proved that collaborating with KOLs to co-create a novel fragrance variant that appeals to a broader audience, particularly the followers of these influencers, thereby driving product sales. In addition, market planning that involves KOLs allows more people to be aware of the perfume brand (Ramadani et al., n.d.).

Chrisniyanti, A., & Fah, C. T. (2022). The impact of social media marketing on purchase intention of skincare products among indonesian young adults. Eurasian Journal of Social Sciences , 10 (2), 68–90. Lee, K. (2018). Year of the Influencer Marketing Implosion. Marketing Land Online [Online] Https://Marketingland. Com/2018-Year-Influencer-Year-Influencer- Marketing-Implosion-231617 (Accessed 11 January 2021) . Marjerison, R. K., Huang, Y., & Chen, R. (2020). The impact of social media influencers on purchase intention towards cosmetic products in China. Journal of Behavioral Studies in Business . Ong, I. J. P., Teñoso, D. J. V., Antonio, E., & Etrata Jr, P. D. (2022). Influencer Marketing in the Digital age: The Response to Authentic Creator Content. Millennium Journal of Humanities and Social Sciences . PANEL, B. (2021). SESSION F: DIVERSITY IN BEAUTY PANEL DISCUSSION PREPRINTS . Peng, L. (2021). Impact of Tik Tok on digital marketing based on case studies and SWOT analysis . 337–340. Schwemmer, C., & Ziewiecki, S. (2018). Social media sellout: The increasing role of product promotion on YouTube. Social Media+ Society , 4 (3), 2056305118786720. Wei, C.-H. (2022). Method of generating and reusing the Key Opinion Leader marketing portfolio (Patent TW202240435 (A)). https://worldwide.espacenet.com/publicationDetails/biblio? FT=D&date=20221016&DB=&locale=en_EP&CC=TW&NR=202240435A&K C=A&ND=4 Xiong, L., Cho, V., Law, K., & Lam, L. (2021). A study of KOL effectiveness on brand image of skincare products. Enterprise Information Systems, 15 (10), 1483–1500 . Zhong, Y. (2023). Indicator Analysis for Cosmetics Companies: Evidence from L’Oréal, Shiseido and Estée Lauder. Highlights in Business, Economics and Management , 7 , 42–46. Zou, Y., & Peng, F. (2019). Key opinion leaders’ influences in the Chinese fashion market . 118–132. 后加的： Geyser, W. (2022, September 19). The State of Influencer Marketing in the Beauty Industry . Influencer Marketing Hub. https://influencermarketinghub.com/influencer-marketing- beauty-industry/ Maden, D. (2018). The role of digital influencers in the diffusion of new products. Akdeniz Üniversitesi İletişim Fakültesi Dergisi , 30 , 119–141.

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