Chula alumni team in cooperation with the CU Innovation Hub has come up with the idea of “Kollective” a new start-up that provides the tools and services for full-scale marketing of influencers. With the analysis using big data, the best influencers are chosen to increase sales volumes in your business.
At a time when everyone searches for the information they need on the internet, the data of a product or service created by its brand might not respond fully to the consumer who has the tendency nowadays to read up reviews from actual users. This is why the influencer or Key Opinion Leader (KOL) has emerged as a key factor that makes it easier for customers to make a purchase decision for certain products or services.
For this reason, many product brands have turned toward influencer marketing creating quite a stir that “Jay” Warapol Lowattanamart from the Faculty of Engineering and his team have perceived the opportunity from this trend. With the support from the CU Innovation Hub, along with the team’s strengths and technological know-how, “Kollective,” a start-up worth 100 million baht has come about.
“With all brands eagerly turning towards influencer marketing, the question arises whether or not this type of marketing is still effective. Many brands have used influencers only to find that it doesn’t work and do not know what to do next. Many are not able to follow up on the results generated by each influencer and cannot see whether they have stimulated sales volumes” said “Jay” Warapol leading to the idea of Kollective – Influencer Marketing optimizer, or an assistant that can help with marketing to specific target groups with the use of this technology and big data, as well as the ability to systematically follow up on the results.
What is Influencer Marketing?
Before this, most marketing experts would use offline marketing communications such as television advertising, billboards, or point-of-sale marketing. This changed when people moved to online media and especially tremendously during the COVID-19 pandemic. The types of marketing that we now see online are found, for example, on social media platforms or through the use of SEO (Search Engine Optimization) which makes it easier to track down results while also making it possible to select targeted ads for each group of consumers. Whether offline or online, these are all concerned with a brand’s method of direct communication.
“Seeing a brand advertised frequently can bore people. They also tend not to believe in the message being conveyed since it seems to be more of one-way communication that lacks engagement like what is seen in online advertising. This is how influencer marketing emerged.”
According to Warapol, Influencer Marketing is a form of indirect communication where a brand aims at having consumers communicate with each other about the products and services they have tried to increase participation by way of word of mouth. This can successfully increase the brand’s presence on social media.
Why do brands use “influencers”?
Warapol outlined the strengths of Influencer Marketing as follows:
1. Customers become more attuned to listening to the brand
One-way communication by the brand is often less effective. Having a brand influencer convey the message is like having consumers communicate their satisfaction with the product to each other and creating a word-of-mouth effect that seems to be a more honest and intimate approach. When there is confidence in the influencer, the customers tend to be more receptive to the message.
2. Enhancing the brand’s image
Other than reviewing the product, influencers are also seen as the representative of a brand. The choice of influencer must therefore reflect how the brand wishes its customers to view them.
3. Creating an online presence for the brand
Customers nowadays look for reviews of products on Google, YouTube, or Pantip. If they cannot find the brand there, then it appears that it is lacking a presence.
“At a time when consumers have so many choices available, a brand that is invisible makes it practically “not even a choice,” Warapol reiterated.
“Kollective” and 3 amazing services!
Influencer marketing is not, however, only about hiring someone to review your products and services. To use your influencers efficiently, appropriate strategies must be in place to keep track of the results.
“This is our aim in presenting Kollective as an Influencer Marketing optimizer or assistant marketing technology via an influencer using big data to ensure that brands can close the sales at the highest rate.” Warapol also revealed what he considers to be Kollective’s strengths:
- A team of experts in influencer marketing with the experience of working on influencer campaigns at the national level.
- Technology for selecting the right influencer and systematic follow-ups for results.
- A network of more than 30,000 influencers all over Thailand.
Kollective’s services come in 3 types according to the particular needs of each brand.
- Kolor is a service that aims to make a brand more colorful through attractive content and communication that effectively corresponds with each target group from marketing research to target insight that helps determines the needs of each of those groups.
- Kolify is a platform service that enables brands to find the right influencers that ensure the best results with in-depth information, advanced assessments, and individual follow-ups. It also helps facilitate campaign organizing via the platform.
- Kommerce is a service that helps with the search for influencers for products with particular emphasis on sales. Kommerce can provide another avenue for sales and increase sales volumes through its network of influencers around the country.
“We are on our way to revolutionizing marketing tactics by introducing the use of influencers that emphasizes increased sales volume and communication aimed at our target groups,” Warapol concluded.
How the CU Innovation Hub can help Start-ups
Kollective’s swift growth has received support from the CU Innovation Hub of Chulalongkorn University.
“We have been with the CU Innovation Hub from the start. They have provided us with the ideas and advice we need as well as office space that enabled us to test the market in no time.”
One cannot deny that connections are crucial when it comes to conducting business. This is especially the case when it comes to start-ups that require those willing to invest in the business. CU Innovation Hub brings together all the connections we need whether those individuals with a wealth of startup expertise or sources of investment funds from both the government and private sectors.
Warapol ended by telling us that “With the needed connections and funding, our company was able to scale up the business in a very short time.”
For those interested in communication and brand creation with Kollective, details may be found on https://kollective.one/.