Shopping app Little Red Book opens platform for brand-KOL partnerships
E-commerce and social networking platform Little Red Book, also known as Xiaohongshu, has taken a step towards encouraging partnerships between company brands and key opinion leaders (KOLs).
Sourcing KOL in Little Red Book
The app recently opened a platform for verified brands and KOLs to search for and find each other. The platform also incorporates multi-channel networks (MCNs), which contact influential content creators on behalf of brands in order to increase popularity across multiple platforms.
Companies and MCNs can now find influencers by searching content tags and view statistics such as a content creators’ fan count, number of likes, average hits over the past 30 days, and average number of comments per post.
Moving on a new trend of Multi-Channel Network (MCN)
Little Red Book, which is best known for its fashion and cosmetics reviews, has around 8,000 verified brands and 4,800 influencers. A user needs to have 1,000 fans to apply to become a “brand partner.”
Currently, the company isn’t taking a cut from business partnerships. Part of the reason is practical: the app doesn’t have a system to buy and pay for commissions yet. However, in addition to optional ad campaigns, brands must pay to host their stores on the app.
Last summer Bytedance-owned short video platform Douyin began signing on MCNs, which it formerly viewed as detractors to its business, in order to manage its network of online influencers. The move enabled the company to focus more on generating advertising revenue and less on managing KOLs.
2019’s Little Red Book Business Strategy
Little Red Book has launched another new advertisement and targeting more brand promotion in 2019. Meanwhile, it is changing and turning more commercialism and with an integration with E-commerce platform, it provides a one stop shop shopping experience for its users. This further step towards encouraging partnerships between company brands and key opinion leaders (KOLs).
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Source: Shopping app Little Red Book opens platform for brand-KOL partnerships- Tech.com