Promoter, KOL, or Influencer?
Which is Which, Why to Use One Over the Other, and Why Use One At All?
The concept of using someone or something to influence an audience is not revolutionary. But new mindsets, technology, and tools have changed how we define and interact with influencers (in the generic sense- more specific characteristics of an ‘influencer’ will be discussed later), as well as how the influencer seeks out an audience. The Web3 space can be considered to be non-traditional based on current norms. There are non-traditional ways to earn, to learn, and do just about anything. That disruptive ethos can be considered to be the purpose, as well as the allure of Web3, and now that ethos is being used to advertise using both traditional and social media in three general categories — the Promoter, the Influencer, and the KOL.
The Promoter/ Shill
The first type of influencer is the Promoter, also known as a Shill. In historical parlance, shill isn’t such a good name, as by many definitions, a shill is a person who aids a criminal by pretending to be a genuine customer, thereby inducing the victim to buy the item in question or patronize the establishment. However, in the situation of Web3 and social media marketing, shill is used as a slang term for a Promoter. They are simply someone who is not necessarily well-known — and is more than likely anonymous — who is paid to promote a product as a seemingly impartial customer, but is actually being paid. Hence we will refer to them as a Promoter instead.
The Influencer
Where the Promoter is paid on a contract basis for a specific event, the Influencer is a longer term relationship with your project. Influencers are different from promoters in this aspect, but they are still promoting and getting paid for it. The key difference is that the influencer is a public facing individual, likely famous or semi-famous. For influencers, having a community of followers is their most important asset for their own brand and for what they are selling or pushing. For that very reason, they are selective in the products, projects, and ideas they endorse because their credibility and identity would be at stake.
Influencers often represent various spheres of influence ranging from video games and technology to politics and world events. They often occupy different “lifestyle niches” and embody ideals about that lifestyle. For example, beauty influencers often show off beautiful clothing, makeup looks, and makeup collections, or the childrens’ toy influencer is a child who likes to open different types of toys.
The Key Opinion Leader (KOL)
Again, the concept of an influencer is nothing new, but “KOLs” are perhaps a bit more unknown. A KOL can be defined as someone who’s considered an expert in a certain topic or field and whose opinions are respected by the general public thanks to their trajectory and the reputation they’ve built for themselves, giving them an aura of authority. As such, they are very valuable for carrying out marketing actions, since they’ve already gained respect from their community and their opinions are always going to attract attention and be credible.
The major difference between influencers and KOL’s in the Web3 marketing space is that influencers are likely beholden to social media platforms, where KOLs, on the other hand, have outside professions that keep them in the eye of the general public, even the luddites who don’t use social media. Of course a KOL could have a social media presence, but it is not necessary for them to exert their influence. KOLs don’t tend to be paid like Promoters and Influencers to recommend products related to their professions in exchange for economic compensation. However, they do tend to have a larger financial stake in the project. The KOL will substantially invest in a project and in return, they will promote the project to their community because they want to see it succeed and see a return on this investment. They also tend to bring other KOLs and other connections along for the ride who in turn also invest in a project.
How to Use These 3 Influencers
Every campaign should begin by setting campaign goals. What are you trying to achieve with your influencers? This will significantly affect who you work with at each level to promote your campaign.But the general playbook for using these tools is pretty simple. You look at it as kind of a snowball effect where the first one leads into the second who in turn then hands over to the third — each gradually growing the community. If timed and executed correctly, that growth becomes exponential. Here’s how.
Begin with a Promoter. They are the most inexpensive to use, but they anonymously will engage their own networks to drive engagement to your project’s Twitter, Telegram, or other social media platform. They will announce whatever is going on in the short-term with the sole goal to increase numbers. This will be a short-term effort to increase the community numbers before the next step is made.
Unless you’ve got an Influencer as a BFF of the project, it only makes sense to hire one once the Promoter has done their job. Again, the Influencer is protecting and projecting their own brand and won’t likely be interested in a game or other project with 4 followers. They will use a more specially crafted message and look to expand on the Promoter’s work using their purportedly larger network.
After the Influencers have had a turn and you are still watching your project’s community grow, the next step would be to engage a KOL. The KOL will want to see this community growth, see that it’s been somewhat sustainable, and then want a piece of the pie. They will lend their name and expertise to your project in return for a portion of the project or a more significant check than an influencer would receive. They are more strategically used as well as them being more strategic in selecting what they promote — more so than an Influencer. But they will have the largest platform to use to publicize on your behalf.
Ultimately it comes down to your audience, your goals, and what you are willing to pay for those goals. Promoters are cheap. An Influencer will cost more than a Promoter. And a KOL can take even more out of your budget, even as much as a share of your project through investment. But using the right one at the right time is imperative for your success. Results.io has experience working with all of these at all levels of a project and can help your project reach its growth potential.
About Results.io
Results.io is a Web3-focused growth agency specializing in marketing and community cultivation looking to help industry-leading projects drive engagement for NFT, P2E, and IDO’s. Learn more about the company at Results.io
