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How to Avoid Scams in KOL Marketing
Ruslana Safina
17.12.2024
4 Min Read
In Web3, KOLs can elevate your project, but scams, poor communication, and mismatched campaigns can drain your budget, kill momentum, and damage your reputation.
The Common Pitfalls in KOL Marketing
In the wild west of Web3, where every campaign promises to “break the internet,” partnering with Key Opinion Leaders (KOLs) can be a game-changer for your project. But here’s the alpha: not all influencers are what they seem. Scams are out there, but sometimes, the real danger comes from the mistakes you make yourself.
Even if you manage to avoid scammers, poor communication, mismatched campaigns, and unclear agreements can leave your budget drained, your momentum killed, and your reputation in tatters. So let’s break it down — here’s how to navigate the KOL marketing jungle like a pro 🏹.
Most campaigns fail not because of a direct scam, but because of rookie mistakes that snowball into wasted budgets, missed opportunities, and broken trust. Let’s dive into two categories of risks: the real scams to watch out for, and the mistakes you’re probably making.
Real Scams: When the Bad Actors Are at Play
The Web3 space moves fast, and scammers are capitalizing on that speed. They use fake profiles, fake invoices, and fake promises to siphon funds from your project. These are the scams you need to be aware of — where the influencer (or their agent) is actively trying to trick you.
1
The Pretender Problem
Scammers posing as influencers or their agents are a major threat. These fraudsters exploit the time-sensitive nature of Web3 campaigns, where decisions are often rushed, and funds are transferred quickly. They rely on fake profiles, doctored screenshots, and overly convincing pitches to get you to pay up — and then they disappear.
Example:
A crypto startup pays $7K to a “manager” claiming to represent a prominent Web3 influencer. The “manager” provides an invoice, a media kit, and even screenshots of successful campaigns. But after the payment is sent? Silence. The actual influencer never knew about the arrangement.
The Fix:
Always double-check the identity of any KOL you’re working with. Verify through official channels, and don’t rely solely on third-party agents unless they’re vetted. If they can’t prove their connection with the influencer, they might just be an NPC in disguise.
2
The Ghost KOL
While this is technically a form of bad behaviour (rather than a full scam), it’s still a nightmare for Web3 projects. A KOL may ghost their commitments after receiving payment, leaving your campaign dead in the water. They may delay posts, deliver subpar content, or disappear entirely after taking your money.
Example:
A DeFi launch team hires a top-tier influencer for a $10K timed post to build hype before a major release. The launch day comes — and goes — with no post. The influencer finally posts days later, but by that point, the hype has died, and the market has moved on.
The Impact:
This results in lost momentum, missed opportunities, and worst of all, a tarnished reputation. Delays can kill your campaign, and you’re left paying full price for a dud.
The Fix:
Set clear deadlines in your contracts. Tie payments to performance and schedule. If a KOL can’t deliver on time, you don’t have to pay. Also, put in place penalties for ghosting — just in case.
Your Own Mistakes: When the Problem Is Within Your Control
Not every failure is the result of a scam. Many issues stem from mistakes that could have been avoided with better planning. These “self-sabotages” are the traps that brands often fall into when working with KOLs.
1
The Wrong Match
One of the most common misconceptions in KOL marketing is thinking a failed campaign is a scam. But often, it’s simply that the KOL wasn’t the right fit for your project in the first place. It’s tempting to look at follower count or engagement rate and assume they’re a perfect match. But surface-level metrics don’t guarantee success.
Example:
A blockchain startup teams up with a fitness influencer boasting 1M followers to drive sign-ups for their DeFi staking platform. The post generates 20K likes and hundreds of comments — but mostly about gym routines, not crypto. Result? 10 new sign-ups for $15,000 spent. That’s a CPA of $1,500, way above the typical industry benchmark of $50–$100.
The Impact:
You burn through budget, create the wrong expectations, and end up associating your project with an influencer whose audience doesn’t care about your niche. Worse, you damage your relationship with the influencer by making them seem inauthentic.
The Fix:
Do your homework. Beyond just engagement stats, you need to assess things like audience demographics, content relevance, and credibility. Find KOLs whose community vibes with your product or service. Remember, alignment over size is a key.
2
Chasing Vanity Metrics
It’s easy to get blinded by big numbers. Follower count is often a red herring. Engagement is the real KPI. A huge following means nothing if the KOL’s audience isn’t actively engaging or willing to take action on your call to action.
Example:
An influencer with 500K followers may look like a dream partner, but if their engagement rate is low (say 0.5%), it means they have a disengaged audience. In contrast, a micro-KOL with 50K followers but a 10% engagement rate is likely to drive better results.
The Fix:
Focus on the quality of an influencer’s engagement. Look for genuine interaction with followers, including replies, shares, and discussions. Quality will always beat quantity when it comes to KOL partnerships.
Why Reputation > Follower Count
Here’s the bottom line: reputation is the real currency that drives real impact in KOL marketing. A large following is just fluff if the audience doesn’t trust the influencer. Reputation, on the other hand, is built over time through consistent and authentic endorsements. A KOL who has earned the trust of their followers can drive action and engagement — making them far more valuable than someone with just a big number on paper.
The Solus Perspective
At Solus, we’ve navigated the wild world of KOL marketing in Web3, from moonshots to misfires. And here’s the alpha: success doesn’t come from picking the biggest voice, it comes from building strategic, trust-driven partnerships.
Here’s our blueprint for success:
- Quality > Quantity: A hyper-engaged audience is always worth more than vanity metrics;
- Due Diligence is Everything: Verify KOL identities, assess engagement quality, and match content niches;
- Timing is Key: In Web3, momentum is everything. Build strong timelines and deliverables.
KOL marketing isn’t just about sending influencers freebies or paying for a post. It’s about creating authentic relationships that drive real value. Let’s set a new benchmark together — where trust and results come first. LFG!
KOL Marketing
KOL Collaboration
Influence Marketing
Influencer Marketing Scams
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