Malaysia has the 5th most active social media penetration in the world – with over 86% of the population of approximately 28 million users. Meanwhile, a recent retail study, indicated as many as 22 million Malaysians are digital customers, and online channels now play a four times greater role than conventional channels when it comes to consumer purchases. All of this has contributed to a rising eCommerce market in Malaysia which is valued at approximately RM11 billion.
On top of this, a survey by Rakuten Insight showed that 59 per cent of Malaysian respondents stated that they had purchased an item or product because it had been endorsed by an influencer. The same survey found that the majority of Malaysian respondents followed at least one influencer on social media.
Eddie Lim the CEO & Founder of KOLHUB, believes that these figures are promising for businesses but a key challenge still lies ahead of them. This is a challenge that he believes can be hurdled by the introduction of KOLHUB – Malaysia’s first 100% AI-powered influencer and affiliate marketing platform.
“These statistics make it clear that there is huge potential in the digital space for businesses to grow their revenue. Not only that but social media and more precisely influencers are a key gateway into building brand awareness and converting that awareness into sales. It is thus natural that businesses want to tap into this opportunity but the trouble is it is much easier said than done. The challenge here is how to discover and engage with the influencers that are right for your brand – this is where KOLHUB comes into play.”
KOLHUB is acutely aware that the sheer number of influencers in the market, their diverse personalities, content styles and demographics of their following can prove to be huge stumbling blocks for businesses.
The brand believes that finding the right influencer to match a business or product is one of the most important steps any business can take in a social media marketing campaign. “Influencers act as an amplifier of your story, choose the right one and your story gets told in the best ways to the right audiences for maximum impact. Choose the wrong one and you could end up throwing away vital investments on an effort that falls on deaf ears,” Eddie Lim added.
KOLHUB provides solutions for businesses to optimise their influencer marketing campaigns by combining its industry-leading expertise with an AI-powered platform that offers cutting edge digital solutions that equip businesses with granular, precise and rapid information on a huge database of influencers.
“Our AI-powered platform allows users to gain in-depth insights into the demographic and psychographic data of over 84 million influencers globally – all in as little as 5 seconds. This means more accurate information, delivered to you quickly through data analytics tools that allow you to boost the efficiency of your campaign by at least 10 times,” he continued.
Discovery, Manage and Measure
As one stop-platform with a 100% AI-powered solution, KOLHUB is simple to use and brands can get real-time updates and track their marketing campaign. With 3 simple steps in KOLHUB – Discovery, Manage and Measure stages make planning influencer marketing campaigns, engaging with influencers and tracking results simpler than ever. Combined this allows brands to kickstart their marketing campaign with an influencer in as little as one hour.
With KOLHUB’s discovery tools, brands can find the right influencers for their campaigns within a short time frame. Identify, compare and engage influencers through customized filters, keywords and hashtag searches. Advanced searches based on location, followers, engagement, topics of influence, and more are also available. The AI system allows for info to be constantly updated and cross-referenced to ensure accuracy. This means brands can get up to date and genuine granular insights into millions of influencers in seconds.
KOLHUB management platform also allows brands to easily manage all influencer marketing campaigns, and brief and follow up with progress all under one platform. KOLHUB also offers marketing experts that help brands put together solid campaign plans with the brand’s objectives in mind, and manage influencers’ content strategy, ideation, optimization, and reporting throughout the campaign. Utilising AI technologies KOLHUB allows brands to get live and comprehensive tracking of their campaign, providing actionable insights that will allow brands to refine and realign their campaigns for maximum impact.
Through AI, KOLHUB makes measuring campaigns easy and efficient. With their powerful analytics client dashboard, brands can track all data such as exposure metrics, engagement metrics, earned media value, conversions and more. Within the platform, they can monitor the response in real-time and analyse their marketing campaigns for the best possible results.
Established in 2020, KOLHUB has already built up a solid reputation within the industry, having engaged with over 300 brands and rolled out more than 150 successful campaigns. This momentum has seen KOLHUB record its best performance thus far in 2021, with over 1000% in growth last year, having worked with 3,000 Influencers across 200 clients and 150 campaigns racking up RM1.3 million in revenue. This is expected to continue with KOLHUBexpected to grow by another 400% while hitting RM4.4 million in revenue this year.
To further spur growth, KOLHUB has announced an Equity Crowdfunding (ECF) campaign through the new ECF platform Mystartr. KOLHUB’s ECF campaign is currently ongoing until 7 June 2022 with a target of raising RM2 million in funds. KOLHUB has thus far managed to raise RM853,600. Interested investors can learn more and join the ECF campaign here.
These funds will be directed towards scaling up KOLHUB operations and enacting their 5-year business plan as they are aiming to transition their business model into a “Software as a Service”, (SaaS) Platform through a monthly subscription model via the in-development – iManager tool. The funds will also be used to invest in IT developments for the SaaS platform and to expand its marketing initiatives to drive brand awareness.
