Alon Ben Joseph and I decided to create our own room on CLUBHOUSE, and we called it: The Jewelry Experts. Our topic this time? Jewelry Influencers and KOL's. What are they, who they are, how they work, and the difference between an influencer and a KOL or KOI?
Why is working with them a challenge, and why should you include it in your marketing mix?
The discussion on Clubhouse called for more sharing of insights, tips, and prices. Here is ALL you need to know about working with jewelry influencers!
The Jewelry Experts on Clubhouse
Clubhouse is the next new thing. And like all new things on social media, one has to try to see if it is something that works for them or not. Alon Ben Joseph is a jeweler and serial entrepreneur from Amsterdam. We have known each other for over 20 years! Alon's dad was one of my first clients when I ran my own jewelry agency.
Alon is a jeweler and watch enthusiast who's always trying to engage with his audience online. One of the first jewelers to have a webshop and certainly the most visible jeweler online. From podcasts to Facebook Live sessions and everything in between, Alon is there, with a broad smile and excellent knowledge about jewelry and watches.
We decided on the name Jewelry Experts because it resonates with the topics we have in mind. Yet, we both know this; the more you know, the more you realize you don't know, right?!
It's a bit of a tongue-in-cheek name for a CLUBHOUSE room that hopes to talk about all kinds of essential topics for jewelers and the jewelry industry in a b2b setting.
Jewelry Influencers and KOL's
After we hosted a try-out session about diamonds and lab-grown diamonds, we turned our attention this time to the hot topic: Influencers.
I know that this term causes allergy to many people. Young people, but especially the slightly older generation, see influencers as this "new phenomenon" of people craving attention and wanting to be famous with minimal talent. Which is obviously not a very complete picture. Although, there is a considerable amount of unprofessional behavior going around in "the influencer jungle." Yet, an increasing number of people have matured in influencing, and now we see the Rise also of KOL's, a term that seems to have its origin in Asia.
Let's take a dive into the world of Jewelry Influencing.
Social media democratized influencing
Influencing online may be relatively new, but influencing other people's choices isn't.
It may have been the royals and later the jet set of Hollywood and Bollywood, setting jewelry trends.
Royals weren't paid, but celebrities have created lots of new revenue by working more and more with brands they endorsed. Either by wearing it on the red carpet, in a movie (think about the attention for brands appearing in a James Bond movie), or by being a brand ambassador/posing in an advertisement.
With the rise of social media, this market was democratized. Now everyone could become a star, and with that came the rise of what we now call an influencer.
It is true that many of the influencers are relatively young and appealing to a (very) young audience. Some persevered in creating great content and grow professionally in their work with brands, where others seemed to lack a professional attitude or simply went for a quick buck.
The market is not mature yet, but much has improved over the past years.
Before I give you tips on how you should work with an influencer, let's dive into the marketing world a little deeper. Why? It matters!
Why choose to work with a jewelry KOL and what is a KOI?
KOL is a Key Opinion Leader. A KOI is a Key Opinion Influencer. These are people who can act as influencers, but they are significantly more valuable for most businesses. Why? Because they are people that already have gained TRUST and AUTHORITY. Something critical to the jewelry industry.
A KOL or KOI is typically a person whose priority isn't influencing choices. They have often trusted professionals that are authentic by nature, as they work in the jewelry industry or are scholars in the subjects that matter to the industry.
You work with an influencer or KOL to reach new audiences and raise more awareness about your brand. A good influencer or KOL will typically bring a unique perspective to the brand and its perception. They are often fantastic at creating content that's far more believable than anything a brand could ever say about themselves.
The jewelry industry is rather late to tap into this marketing tool's full potential because this kind of marketing is often all about quick sales. Which jewelry rarely is. But luckily, the jewelry industry starts to feel more comfortable about working with influencers or KOL's.
TRENDS IN JEWELRY INFLUENCING from 2021 onwards:
More about working with influencers and some data on influencer marketing further below, but let's explore what experts feel is the upcoming future of influencers marketing:
- Video. More video content. Short on some platforms, long on others.
- The Rise of the KOI or KOL. Especially in jewelry, trusted professionals mean more than the average influencer.
- The rise of the Nano and Micro influencer. Niche topics, small but real and engaging followers, are worth much more than those with hundreds of thousands of followers (unless you are a Kardashian ;-))
- Quality over quantity. Fraude influencing is a hot topic. Also: a huge following is no guarantee for a vast or great engagement.
- Make it about the consumer or the client. Make the consumer or client the hero. Not easy. But do it right, and you'll find Nirvana :-)
- Diversity. Make sure you'll be inclusive—race, age, gender, body shape...and everything in between. Make sure you don't miss this boat, or it will feel outdated.
- Bye-bye influencer, hello Brand Ambassador. Brand ambassadors typically work with a brand for a longer time. This way, their audience believes the message as it feels more authentic.
- Virtual influencers on the Rise. Computer-generated influencers are increasingly popular. They don't work for everyone, but for some products or services, they are lovely. Mind you, the content is created by you, not by an external influencer. It takes a great team to pull this off.
- Social media blends more and more with e-commerce.
Not convinced yet? Here are some numbers on influencer marketing:
The total spending on influencer marketing is expected to grow up to 15 billion dollars in 2022.
80% of marketers say that influencer marketing is effective, and 89% say it works just as well, if not better, than other marketing channels. (source HubSpot)
49% of consumers say they are consciously influenced, seeking influencer recommendations online before purchasing.
71% say that the quality of customers and traffic generated through influencer marketing is better than other sources.
There are different types of influencers.
- Social media influencers - have their own audiences on social media platforms.
- Blog influencers- have a blog, often gained authority on a niche subject, spread blog content on social media.
- Micro and Nano influencers- could be almost any of the influencers mentioned apart from the celebrity influencer. Small audience; from a few hundred to tens of thousands. Better engagement today than more prominent influencers.
- KOI and KOL's- Key Opinion Influencer or Key Opinion Leader. Niche specialists with a trusted reputation can influence online through social media posts, talks, videos, and blogs, but whose primary job isn't focused on influencing.
- Celebrity influencers- the celebrity influencer are the movie stars and the earliest influencers, such as the Kardashians. They are known to a vast number of people and, if loved or liked, can significantly influence consumers' choices.
Prices of working with an influencer
During our session, one of my very own clients asked us: How much do influencers charge for a post?
Great question!
As I wrote an article for JNA last year, I asked my peers this question too. I know them all personally, but no one would reply to this question openly. It is a secretive world where everyone tries to protect their own business. But I can give you some insights on prices.
Work with a local hero online to promote your jewelry store, and you'll probably be able to do a barter deal. Work with upcoming or young influencers, you might also get away with a barter deal or a small fee from literally under € 100-
Work with an influencer that has created consistent content on Instagram, Pinterest, Linkedin, Facebook or Twitter, etc., and you'll need to think about prices from € 100 upwards. This is all for a "simple" post. Not a blog or an article on a website, of course.
Work with a blog influencer or a KOL, and it depends on what kind of content you create. A single social media post may set you back around €100-€200, but an article that is permanent on a blog may vary from €250 up to € 1200,- and more. It all depends on links included and if the influencer made other costs such as hiring a photographer or traveling to your company.
Ten tips on working with an influencer and make it a success!
- Be prepared. Get your marketing and collection in order before starting to work with an influencer—first your marketing, then an external voice on social media.
- Don't fool anyone. Don't send KOL's or influencers "great content ideas or guest post requests" Call it what it is. You seek promotion; it's business for both. Be prepared to pay.
- Don't barter. Sometimes it may work, but everyone needs money to pay the bills. You can send jewelry for a review or as a gift. It's common courtesy not to ask a favor in return, but the influencer will usually share something about it. I have received boxes filled with fashion jewelry without ANY request to publish it. Yet, I have worn it myself and gave most of it as gifts to friends. I did publish it in different articles.
- Make it personal. Dear Sir. Do you know how many Dear Sirs I got? Haha, but seriously, establish good communication with the influencer. Make it as personal as you can. You did not get this from me, but….I know I had promoted some companies more than agreed upon before, just because I had such a good feeling about our communications...but don't tell everyone;-))))
- Call to action. Make sure you include a call to action—a subscription to a newsletter, a special offer, something that triggers curiosity.
- Storytelling and being authentic. It's tough to get companies to understand that a message of how great they are is outdated. When people buy promotions, they seem to be extra hungry to exploit that attention and make it all about them. Don't. If you work with a great content creator ( influencer, blogger, vlogger, KOL), she or he is more than happy to brainstorm with you on how to be authentic as a brand.
- Not one post. Don't buy one post. Either work on more than one post or repeat the post over time. Make sure that you don't waste your money. Talk with the influencer, ask their opinion. On a blog, having a permanent post may be great. On other platforms, it's not effective.
- Check. How long is the most visible ( on Bizzita: permanent)? Are links included? How many times will it be shared on social media? Which social media?
- Ask. What sets the influencer of your choice apart. Is it her quality? Her unique perspective? Her reputation? Or is the number of followers or?
- Local, National, International. A local retailer could work with a niche local nano influencer. A brand could choose national or international. Make sure you know where your audience is.
NB. Bizzita is currently partially under construction. We are creating new experiences for our beloved audiences! In order to not search too long, should you want to contact me directly:
- Mail me: This email address is being protected from spambots. You need JavaScript enabled to view it.
- Send me a Whatsapp or Signal: 0031-648529232
- Alon Ben Joseph can be found here: www.acejewelers.com
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Kathy G. Hardy
Hello,
I read your blog article very carefully. Your blog article very useful and informative.
Thanks.
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