1/ @beast_ico @camolNFT prior to joining @redstone_defi as CMO, I worked with many KOL agencies on behalf of dozens of crypto projects and with hundreds of KOLs. What I see happening is what I call a KOL turducken - it’s a layered approach, which includes Kaito.
2/ Short-term: it works and can help with awareness and improvement in other metrics
Long-term: very cost ineffective and lifetime value and retention is close to zero
3/ Influencer marketing in crypto will mirror traditional biz: a tiny handful of true KOLs, a few semi influential, and a long tail of noise. Most projects won’t know better, and most agencies aren’t incentivized to protect them.
4/ But one thing is true: our industry continues to innovate and tries new things and that’s good. But business-wise, not a good choice of spend so far based on empirical results.
5/ identifying the true influencers isn’t as easy or you’d think. Because an influencer in one ecosystem is unknown to another. For example, most ethereans don’t know who the true influencers are in the XRP or ADA ecosystems. And vice-versa.
6/ Geography and channels matter also. For example, Korea is a key geo but very few crypto projects know how to penetrate that geo, know who the true influencers are, and have zero idea how to reach them and on which channels.
7/ Finally, a KOL this cycle will likely be forgotten in the next cycle. In crypto, the KOL turnover is very real. Some through burnout, and others through retirement. So, as a project, if influencer marketing is part of your strategy, be mindful of timeframe.
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