In recent years, using KOLs in marketing communication campaigns has become indispensable for businesses. Collaborating with KOL faces helps the brand image become widely known, increases sales without spending too much time and money. However, the issue that arises now is how much is a reasonable KOLs booking cost? How to find KOLs suitable for your brand? Therefore, in this article DPS we will share with you the latest 2023 KOLs booking price list and effective KOLs booking methods for businesses.
What is Booking KOLs?
Booking KOLs is an activity where companies, brands... cooperate and use the image of KOL to advertise, bring the image and products of their brand closer to customers. Because these people are well known and have a very large influence, their posts and review videos will greatly impact your business.
Some popular KOLs booking services in 2023:
- Booking KOLs to post on social media
- Booking KOLs to produce content for your products/services
- Booking KOLs to participate in events, represent the image
- Using UGC from KOLs to direct communication and increase authenticity for the company’s products/services.
Depending on the form of KOLs booking, there will be different price lists. Therefore, when booking KOLs, you need to research carefully to hire KOLs suitable for the best price, saving costs for your business.
Factors affecting the KOLs booking price list
Number of KOLs followers
The first factor that businesses care about when choosing KOLs to cooperate in advertising for their products and brands is the number of followers. Because KOLs with higher followings mean more potential customers know about your products through posts and advertising videos. Therefore, this is the decisive factor for the cost and KOLs booking price list.
However, nowadays, many KOLs buy followers or create fame to increase their own value. However, these are all fake followers, low-quality followers. If you hire these KOLs, businesses will waste a large amount of money without achieving the desired results. It may even affect the brand image and damage the company’s reputation.
Therefore, businesses need to thoroughly research the KOLs they choose before cooperating. Additionally, you can also choose booking services through agencies to get advice on selecting KOLs suitable for your budget and effective marketing campaign goals.
Interaction level
The interaction level is shown by the like, share, comment rates of posts that KOLs upload on social media. The more famous the KOLs, the higher the interaction rate, meaning the larger the target customer reach. Therefore, KOLs with higher social media interaction rates have higher booking prices.
Social media platform
Currently, there are many different social media platforms for KOLs to comfortably create and transmit content. Each KOL will have a certain minimum coverage on each platform. Therefore, the KOLs booking cost is also affected by the social platforms.
Besides that, the form of content transmission also affects the KOLs booking price list. Specifically, with Facebook, the preferred form of content is posts, images, videos... but with TikTok and YouTube, the focus is mainly on videos. Therefore, booking costs on social media platforms will vary. Typically, the cost of booking video production, including video shorts, is higher than posts with images or text.
Business products
Depending on each product and industry, the price to book KOLs will differ. For expensive, highly competitive items like cosmetics, cars... the price will be higher compared to common products like beverages, snacks...
Tasks KOLs have to perform
How should KOLs post content, and what should be the length? How long should posts or videos be published, and is it necessary to link bio, pin posts, etc.? All these factors are also considered in the cost and affect the KOLs booking price list.
What factors come with the KOLs price list?
Besides the KOLs booking costs mentioned above, the booking price list usually includes other factors such as:
- KOLs reporting costs for SOW
- VAT (if requested by the client)
- Management fees (approximately 10 – 15%)
Therefore, before booking KOLs, businesses need to thoroughly understand the components in the price list. This way, cooperation between both parties will be quick and most favorable.
Refer to the latest KOLs booking price list by industries and fields (Update 06 – 2023)
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Should you book KOLs yourself or through an agency?
This is a question that many businesses face whenever they start a communication campaign. However, to achieve the best results, booking through an agency is still the optimal solution for businesses.
Because agencies are experts in the booking field, they have a whole database of KOLs for businesses to choose from. Through agencies, signing and negotiating with KOLs is also faster and more convenient.
Moreover, agencies help monitor the cooperation process with KOLs to ensure issues like deadlines, content, KPIs, etc. Thanks to this, risks are minimized, and time and costs are saved for businesses.
Which agency should you choose to book KOLs?
DPS.MEDIA JSC MEDIA – your perfect choice
If you are looking for a professional agency in the field of KOL booking, please contact us immediately DPS Media. With a professional team, extensive relationships, and rich experience booking through many projects, we are confident to bring you suitable KOLs with extremely attractive price lists.
KOLs booking process at DPS MEDIA
Collecting customer information
- Understand what business field the customer is operating in?
- Discuss the customer's wishes regarding KOL booking
- What potential customers your products or services aim for so that DPS can find KOLs with suitable fan bases
- What is the customer's budget for KOL booking?
- The number of KOLs the customer wants, or the customer can suggest desired KOLs for DPS
Creating a list of KOLs for customer approval and sending the price list
- Create a list of KOLs for the customer and propose prices for customer approval
- Contact and discuss again with KOLs about the brand's wishes and exchange details about the video timeline
Signing contracts with customers and KOLs
The customer pays at this stage, depending on the agreed terms between both parties, usually paying 50% – 100% of the total cost.
Carrying out the work
- After that, DPS MEDIA will provide the address if the brand needs to send products for KOLs to test
- Next, DPS will create the video script with KOLs and the customer, agree on opinions, then proceed with filming and editing the video.
- Send the demo video to the customer for feedback on any edits. If none, continue for KOLs to finalize the video. Then wait for the desired time to publish the video.
- Report the performance of that KOL to the customer
- After publishing the video, it can be connected with the brand's and KOL's TikTok shop.
- Finally, the customer pays the remaining cost (if not fully paid 100% before).
If you have any questions, please contact immediately at 0961545445 for detailed consultation about the KOL booking price list!
