I’m officially sick of the term KOL. For the uninitiated, KOL is a TLA (Three Letter Acronym) that stands for Key Opinion Leader. As a digital marketing strategist, I hear this term (as well as thought leader, KOL’s less hip counterpart) incessantly—from clients and colleagues alike. The conventional (old) school of thought has taught the top down marketers that the secret sauce to any successful marketing initiative lies in influencing the influencer, or KOL.
Social media and communities have further democratized information which has had a direct impact on exactly how much influence (depending on the audience) a KOL has. In an age of skepticism, where consumers are leery of anyone occupying once trusted positions of power, the sway of the influencers is seeing a downward trend. Steve Rubel recently highlighted some specific findings from the 2008 Edelman Trust Barometer that indicates consumers prefer to hear from people like themselves rather than KOLs.
The question of targeting super nodes vs. smaller groups is all coming down to trust. While the marketplace – both marketers and publishers – continue to focus on reach, they are missing the big picture. Trust is by far a more important metric, one that clearly rules when it comes to influence.
Does this mean that the endorsement of influential personalities has lost its value? Absolutely not; the backing of influential thought leaders can certainly attract attention. Based on the aforementioned trust report, I would encourage marketers to place less emphasis on the so-called thought leaders. Treat each and every customer as if they are that coveted KOL.
As a consumer, whom are you more likely to trust—someone you’ve never met who is likely getting compensated for his or her product endorsement, or a peer who shares your tastes and interests, is genuinely excited about the product and isn’t getting paid to have an opinion.
