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MOU Between KAIST College of Business and Celeb Commerce for Influencer Marketing Development2020-08-10Hit:892

Celeb Commerce (CEO Song Sang-hoon, Hong Man-ui) signed industry-academic cooperation (MOU) with a lab of Professor Lee Hee-seok (CIS-LAB) at KAIST Business School on the 9th to analyze Influencer marketing strategies based on big data, and to develop the Influencer-product matching platform.

Along with the development of SNS, Influencer marketing has developed rapidly based on the strength of communication with consumers. Consumers communicate with their preferred influencer through SNS, feel familiar, and indirectly experience the lifestyle of the influencer. As such, the commerce method in which consumers purchase products recommended in relation to influencers is now becoming a trend in online commerce that can be easily found around us.
However, there have been clear limitations to Influencer marketing. First, it is difficult to clearly measure the effects. In fact, many companies may find that they stop working with influencers because it is difficult to measure the effects clearly.

Second, it is difficult to find a compatible influencer with businesses and products. Influencer marketing does not always guarantee performance by collaborating with Power influencer, which has many followers or subscribers. Therefore, it is difficult to discover without any data or know-how, although the right influencer should be chosen for the brand. This phenomenon is not much different even when conducted through agencies, it is highly likely that false casting will proceed.
To complement this, Celeb Commerce has attempted to provide more accurate solutions to brands and sellers based on e-commerce data obtained from more than 5,000 influencer joint purchase projects that have been carried out so far. And as part of this attempt, industry-academic cooperation was signed with KAIST.

The main research field of KAIST Prof. Lee Hee-Seok's lab (CIS-LAB) is IT management, and recently, it is conducting empirical research using quantitative methodology on social phenomena that change in IT such as social networks, online shopping malls, and sharing economy platforms.
Emphasizing the importance of marketing, Celeb commerce said, "The sales data obtained through thousands of influencer joint purchases is the most accurate report card that tells who the influencer is best suited to a specific brand."

"We expect to quantitatively measure the influence of influencer, which can vary by brands through this industry-academic cooperation, and this is expected to be of great help to companies that want to use influencer marketing," he said, expressing his expectation for this industry-academic cooperation.

Contact : Lee, Sohyun ( sohyun.c.lee@kaist.ac.kr )