Unlike KOL (Key Opinion Leaders - famous, influential people with a large fan base), KOC is understood as a knowledgeable and experienced consumer. They proactively choose products and brands, give their own reviews and feelings without depending on any media channels or agencies. Currently, KOC is gradually changing and becoming an effective "tool" for businesses and retailers.
In the discussion session with the topic of Absorbing KOC: Turning customers into business partners at VSMCamp and CSMOSummit 2023, Mr. Dang Tien Hoang (ViruSs), General Director of 108 Gaming (a company specializing in training streamers and Youtubers) said that he has more than 20 livestream sessions as a KOC. In the most recent livestream session, after only 30 minutes, he closed the brand's revenue at nearly 2 billion VND.
From this example, Mr. Hoang believes that the value that KOC brings to the brand is always specific and quick revenue figures.
This is also the "strength" of KOC in a time of economic difficulties, so KOC is considered the optimal choice of brands in recent times.
Besides its strengths, Viruss emphasized that KOCs also have certain limitations, so brands need to be careful in choosing the right KOC. (Photo: Trinh Trang)
Mr. Dang Tien Hoang pointed out 4 factors that create the formula for success for KOC in the new market: creative content, understanding user insight, social channels and a mega livestream system for widespread communication.
Ordering KOCs to simply make simple review clips, incorporating entertainment and trending elements to attract viewers is another story, and sales should not be attached.
“ KOC cannot “deify” revenue. If a KOC does its part well, the support of the mega livestream system of media units will be the bridge to help explode sales, ” Mr. Hoang shared.
CEO 108 Gaming commented that with the difficult economic situation, optimizing costs and achieving actual sales are the most important things for businesses, while consumers place a high value on price. So KOC becomes an intermediary channel that can meet those desires.
Evaluating KOC from another perspective, Mr. Andy Dang (Sales Director of OMEGA’s Ho Chi Minh City branch) also emphasized that choosing KOC at the present time also faces many difficulties. Most businesses have not yet defined it specifically and still consider KOC as a KOL or an influencer in a small community, with a low level of brand loyalty.
In addition, there are risks when KOCs do not fully understand the brand, pushing the product features too far, causing controversy and damage to the brand. Although KOCs are a potential new touch point of social commerce, there are still problems that need to be solved between KOCs and brands.
Mr. Andy Dang emphasized that if each KOC is considered a separate market, what brands should care about is "the conversion rate from KOC followers to customers" and determine the role of KOC in each campaign, and whether they are suitable for the brand's goals or not.
Trinh Trang
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