Kols Hub Report

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GRADUATION THESIS | KOLs HUB
FPT UNIVERSITY
DEPARTMENT OF BUSINESS
Bachelor of Business Administration Thesis
The platform connects SMEs with Micro and Nano Influencers
Group Members: Trinh Thi My Linh (*) SS130057

Le Ngoc Thuan SS130043
Bui Thi Thai Duong SB61388
Nguyen Thai Nguyen SB61067
Huynh Do Dat SB61470
Supervisor: Mr. Du Tieu Duong
Ho Chi Minh, December 2020
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ACKNOWLEDGE
The graduation thesis was broadly supported by Mr. Du Tieu Duong, our team's mentor. The
project team would like to sincerely thank him for helping the team during this thesis research
and writing.
KOLs HUB team wants to express our sincere thanks to the lecturers in the Thesis Board of FPT
University for providing professional insight and excellent support to the project. The lecturers'
precious words of encouragement are the team's driving force to overcome project
implementation difficulties.
The team would like to thank Mr. Tran Duy Khiem and Mr. Nguyen Huu Hoang Giao for their
enthusiastic support and useful information related to the project. Besides, the team also wants to
thank the lecturers who have spent their valuable time organizing a series of workshops to guide
students in doing their graduation thesis.
Furthermore, we are grateful to all the people the team has been privileged to work with during
this time and the others involved in the project.
On the other hand, this project would not have been possible without all five team members'
efforts and cooperation. KOLs HUB team would like to thank each member for their efforts in
completing the graduation thesis well.
Finally, the team would like to thank FPT University for implementing the business project and
supporting us.
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ABSTRACT
In this business plan, the author will discuss the KOLs HUB, which connects influencers to
business. The team will clearly explain the way how KOLs HUB operates and develops. KOLs
HUB will act as the intermediary between brands that need to find influencers for campaigns and
influencers looking for opportunities to work with brands. The target market that KOLs HUB
chooses to focus on is Ho Chi Minh city and Hanoi, with the target customer being SMEs
established from 2018 - 2020 (3 years). The platform KOLs partners are nano and micro-
influencers.
This business plan includes Market Analysis, Product Features and Development, Human
resource management, Operation, and Media Marketing Plan. Finally, the Financial forecast for
five years to determine the feasibility of this project.
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TABLE OF CONTENTS
ACKNOWLEDGE .................................................................................................................... iii

ABSTRACT ............................................................................................................................. iv
TABLE OF CONTENTS ........................................................................................................... v
LIST OF FIGURES................................................................................................................... ix
LIST OF TABLES ..................................................................................................................... x
Chapter 1: Introduction and execution summary ......................................................................... 1
1. Idea introduction .................................................................................................................... 1
1.1 Project background ........................................................................................................... 1
1.2 Market problem identification ........................................................................................... 2
1.3 Diversion Effort ................................................................................................................ 2
1.4 Mission ............................................................................................................................. 2
1.5 Vision ............................................................................................................................... 3
2. Product ................................................................................................................................... 3
2.1 Website User Flow Diagram ............................................................................................. 3
2.1.1 Brands flow diagram .................................................................................................. 3
2.1.2 Influencers flow diagram ............................................................................................ 5
2.2 Features specification ........................................................................................................ 7
2.2.1 Matching .................................................................................................................... 7
2.2.2 KOL profiles ............................................................................................................ 13
2.2.3 KOLs finding ........................................................................................................... 15
2.2.4 Management ............................................................................................................. 17
2.2.5 Daily report .............................................................................................................. 18
2.3 Product Development Roadmap ...................................................................................... 19
2.3.1 Phase One (5 months) ............................................................................................... 20
2.3.2 Phase Two (7 months) .............................................................................................. 22
2.3.3 Phase Three (2 years) ............................................................................................... 24
2.3.4 Phase four (3 years) .................................................................................................. 25
2.3.5 Future roadmap ........................................................................................................ 26
Chapter 2: Market analysis ....................................................................................................... 27
1. Market trend analysis ........................................................................................................... 27
1.1 Industry background ....................................................................................................... 27
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Vietnam social network overview ..................................................................................... 27

Influencer overview .......................................................................................................... 29
Influencer development ..................................................................................................... 30
Influencer marketing in Global and Vietnam ..................................................................... 31
1.2 Customer behavior .......................................................................................................... 34
1.2.1 Influencers impact on customers ............................................................................... 34
1.2.2 Influencers impact on businesses .............................................................................. 34
2. Customer analysis ................................................................................................................ 39
2.1 Customer segmentation ................................................................................................... 39
2.1.1 Brands segmentation ................................................................................................ 39
2.1.2 Influencers segmentation .......................................................................................... 40
2.2 Customer behavior .......................................................................................................... 42
2.3 Problems ......................................................................................................................... 44
2.4 Market size ..................................................................................................................... 46
Top-down ......................................................................................................................... 46
Bottom-up ......................................................................................................................... 48
3. Competitors.......................................................................................................................... 49
3.1 Overview About the Competitor ..................................................................................... 49
3.2 Comparison Matrix ......................................................................................................... 51
3.3 Blue ocean strategy canvas ............................................................................................. 53
4. SWOT .................................................................................................................................. 54
4.1 Strengths ......................................................................................................................... 54
4.2 Weaknesses .................................................................................................................... 55
4.3 Opportunities .................................................................................................................. 55
4.4 Threats ............................................................................................................................ 56
4.5 SWOT matrix table ......................................................................................................... 56
5. Value proposition ................................................................................................................. 57
SMEs pain ............................................................................................................................ 57
Micro and Nano influencers pain .......................................................................................... 58
KOLs HUB valued elements ................................................................................................. 58
6. Positioning ........................................................................................................................... 59
CHAPTER 3: MANAGEMENT & MARKETING .................................................................. 60
1. Human resource management ............................................................................................... 60
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1.1 Company Structure ......................................................................................................... 60

1.2 Roles and responsibilities ................................................................................................ 61
1.3 Recruitment .................................................................................................................... 66
1.4 Training .......................................................................................................................... 68
1.4.1 Training and development strategy in the company .................................................. 68
1.4.2 Training and development process ............................................................................ 69
1.5 Compensation & Benefits ............................................................................................... 71
1.6 Performance appraisal ..................................................................................................... 73
2. Operation ............................................................................................................................. 74
2.1 Business model ............................................................................................................... 74
2.2 Revenue generating methods........................................................................................... 75
2.3 Key activities .................................................................................................................. 76
2.4 Key partners ................................................................................................................... 78
2.4.1 Technology partners ................................................................................................. 78
2.4.2 KOLs partners .......................................................................................................... 79
2.4.3 Payment partners ...................................................................................................... 79
2.5 Member Policy and Procedures ....................................................................................... 80
2.5.1 Policies applied for brands ........................................................................................ 80
2.5.2 Policies applied for influencers ................................................................................. 81
3. Marketing plan ..................................................................................................................... 81
3.1 Marketing mix: 4Ps ......................................................................................................... 81
3.1.1 Product ..................................................................................................................... 81
3.1.2 Price ......................................................................................................................... 82
3.1.3 Place ........................................................................................................................ 83
3.1.4 Promotion................................................................................................................. 83
3.2 Media marketing plan ..................................................................................................... 85
3.2.1 General objectives .................................................................................................... 85
3.2.2 General timeline ....................................................................................................... 86
3.2.3 Action plan ............................................................................................................... 86
Chapter 4: Financial Analysis ................................................................................................... 97
1. Revenue stream .................................................................................................................... 97
1.1 KOLs finding package .................................................................................................... 97
1.2 KOLs Matching - commission ........................................................................................ 98
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2. Startup Expenses and Capitalization ..................................................................................... 99

2.1 Initial outlay ................................................................................................................... 99
2.2 Operation expenses ....................................................................................................... 100
2.2.1 Fixed expenses ....................................................................................................... 101
2.2.2 Variable expense .................................................................................................... 102
2.2.3 Operation expenses summary ................................................................................. 104
2.2.4 Percentage of each operating expenses vs sales ....................................................... 106
2.3 Depreciation ................................................................................................................. 107
3. Financial projection ............................................................................................................ 108
3.1 Income statements......................................................................................................... 108
3.2 Balance sheet ................................................................................................................ 109
3.3 Free Cash Flow and Net Present Value ......................................................................... 113
4. Financial ratios ................................................................................................................... 114
4.1 Breakeven point, payback Period and IRR .................................................................... 114
4.2 Other financial ratios..................................................................................................... 115
CHAPTER 5: RISK MANAGEMENT AND CONCLUSION................................................ 118
1. Risk management and backup plan ..................................................................................... 118
1.1 Compliance risk ............................................................................................................ 118
1.2 Strategic risk ................................................................................................................. 119
2. Conclusion ......................................................................................................................... 122
APPENDIX................................................................................................................................. i
Appendix 1: Form of survey ........................................................................................................ i
Appendix 2: Survey results...................................................................................................... viii
Appendix 3: Detailed Marketing KPIs ..................................................................................... xvi
Appendix 4: Website Dashboard ........................................................................................... xviii
1. Daily report ................................................................................................................ xviii
2. KOLs finding ................................................................................................................ xx
3. KOLs matching .......................................................................................................... xxiii
4. KOLs profile ............................................................................................................. xxvii
5. Management ............................................................................................................... xxix
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LIST OF FIGURES
Figure 1- The trend of Print ads apps and Influencer Marketing .................................................. 2
Figure 2 - Brands flow diagram .................................................................................................. 4
Figure 3 – Influencer flow diagram ............................................................................................ 6
Figure 4- KOLs HUB Matching ................................................................................................. 8
Figure 5 – Building core technology of KOLs HUB ................................................................. 13
Figure 6 – KOLs profile ........................................................................................................... 15
Figure 7 – KOLs HUB Finding ................................................................................................ 16
Figure 8 – Management ............................................................................................................ 17
Figure 9 – KOLs HUB Daily report .......................................................................................... 19
Figure 10 - Process on Google AI ............................................................................................. 22
Figure 11 - ML pipeline automation ......................................................................................... 23
Figure 12 - CI/CD pipeline automation ..................................................................................... 24
Figure 13 - Demands for features to fine reviewers / feedback and manage brand comments on
social network .......................................................................................................................... 27
Figure 14 - Top five most-used social media platforms ............................................................. 28
Figure 15 - Survey 300 Gen Z and Generation Y people in Ho Chi Minh City and Hanoi ......... 29
Figure 16 - Search for Influencer Marketing over the last 3 years ............................................. 32
Figure 17 - Similar trend search for Influencer Marketing in Vietnam ...................................... 32
Figure 18 - Distribution of spending by industries .................................................................... 33
Figure 19 - Influencer Marketing budget for next 12 months .................................................... 33
Figure 20 - Influencer Marketing Experience (Source: Authors' survey) ................................... 34
Figure 21 - The number of influencers that marketers use in a marketing campaign.................. 35
Figure 22 - Percentage of marketing budget spent on Influencer marketing .............................. 35
Figure 23 - Source/ Channel search for KOLs .......................................................................... 36
Figure 24 - Intention to use the connected platform of marketers who used connect platform
before ....................................................................................................................................... 36
Figure 25- Intention to use the connected platform of marketers who never used connect
platform before......................................................................................................................... 37
Figure 26 - KOLs selection criteria (Source: Authors' survey) .................................................. 37
Figure 27 - Difficulties in working with a third party to connect with KOLs ............................. 38
Figure 28 - Influencers selection criteria ................................................................................... 38
Figure 29 - Platforms’ necessary features ................................................................................. 39
Figure 30 - Influencer tiers ....................................................................................................... 41
Figure 31 - Average Engagement Rate On Instagram ............................................................... 42
Figure 32 - Influencer Marketing Experience (Source: Authors' survey) ................................... 42
Figure 33 - Percentage of marketing budget spent on Influencer marketing .............................. 43
Figure 34 - Source/ Channel search for KOLs .......................................................................... 43
Figure 35 - Demand for features to find reviewers feedback and manage brand comments on
social networking sites ............................................................................................................. 44
Figure 36 - In the case of people searching for KOLs through a third party (personal relationship
or agency), difficulties in working with KOLs .......................................................................... 45
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Figure 37 - Where people seek KOLs through a connected platform, difficulties in working with
KOLs ....................................................................................................................................... 45
Figure 38 - In the case of people searching for KOLs through a third party (personal relationship
or agency), difficulties in working with a 3rd party .................................................................. 46
Figure 39 - In the case of those looking for KOLs through a connected platform, there are
difficulties when working with a connected platform................................................................ 46
Figure 40 - Blue Ocean Strategy canvas ................................................................................... 53
Figure 41 - The Elements of Value Pyramid ............................................................................. 58
Figure 42 - The Company structure of KOLs HUB................................................................... 61
Figure 43 - Tools to close the current capacity gap of employees.............................................. 69
Figure 44 - KOLs HUB's business model ................................................................................. 75
Figure 45 - General timeline, Key messages, Key activities of KOLs HUB .............................. 86
Figure 46 - Operation expenses .............................................................................................. 101
Figure 47 - KOLs HUB total operating costs estimation - Best Case....................................... 104
Figure 48 - KOLs HUB total operating costs estimation - Expected Case ............................... 105
Figure 49 - KOLs HUB total operating costs estimation - Worst Case .................................... 106
Figure 50 - Free cash flow - Best case .................................................................................... 113
Figure 51 - Free cash flow – Expected case ............................................................................ 113
Figure 52 - Free cash flow - Worst case .................................................................................. 114
Figure 53 Other Financial Ratios - Best case .......................................................................... 116
Figure 54 - Other Financial Ratios - Expected case................................................................. 116
Figure 55 - Other Financial Ratios - Worst case ..................................................................... 117
Figure 56 – Return on Equity ................................................................................................. 117
LIST OF TABLES
Table 1 - The explanation of these five algorithms ................................................................... 11

Table 2 - New product development roadmap of KOLs HUB ................................................... 20
Table 3 - Target Segment SMEs 2018-2020 ............................................................................ 40
Table 4 - KOLs HUB top-down analysis .................................................................................. 48
Table 5 - KOLs HUB target customer analysis ......................................................................... 48
Table 6 - KOLs HUB bottom-up analysis ................................................................................. 49
Table 7 - Summary competitor information .............................................................................. 50
Table 8 - Features comparison matrix between KOLs HUB and other platforms ...................... 52
Table 9 - SWOT matrix ............................................................................................................ 57
Table 10 - Roles and responsibilities employees of KOLs HUB ............................................... 66
Table 11 - the company's structure, number of employees and compensation and remuneration
for the past five years ............................................................................................................... 73
Table 12 - Key Activities ......................................................................................................... 78
Table 13 - Pricing table for KOLs HUB services ...................................................................... 83
Table 14 - The KOLs HUB goals and budget in each stage....................................................... 86
Table 15 - The brief version of the phase 1 ............................................................................... 88
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Table 16 - The brief version of phase 2..................................................................................... 90

Table 19 - Best case of KOLs HUB Finding package ............................................................... 97
Table 20 - Expected case of KOLs HUB Finding package ........................................................ 98
Table 21 - Worst case of KOLs Finding package ...................................................................... 98
Table 22 - Best case of KOLs HUB Matching commision ........................................................ 99
Table 23 - Expected case of KOLs HUB Matching commission ............................................... 99
Table 24 - Worst case of KOLs HUB Matching commission .................................................... 99
Table 25 - Initial Outlay ......................................................................................................... 100
Table 26 - Fixed Expense ....................................................................................................... 102
Table 27 - Variable Cost Best case, Expected case, Worst case .............................................. 103
Table 28 - Operation expenses - Best case .............................................................................. 104
Table 29 - Operation expenses – Expected case ...................................................................... 105
Table 30 - Operation expenses - Worst case ........................................................................... 106
Table 31 - The types of expenses as its percentage of sales Best case, Expected case, Worst case
............................................................................................................................................... 107
Table 32 - Depreciation .......................................................................................................... 107
Table 33 - Income statement - Best case ................................................................................. 108
Table 34 - Income statement - Expected case ......................................................................... 109
Table 35 - Income statement - Worst case ............................................................................. 109
Table 36 - Balance sheet - Best case ....................................................................................... 110
Table 37 - Balance sheet - Expected case ............................................................................... 111
Table 38 - Balance sheet - Worst case .................................................................................... 112
Table 39 - Break-even Point ................................................................................................... 114
Table 40 - Payback Period and IRR - Best case ...................................................................... 114
Table 41 - Payback Period and IRR - Expected case ............................................................... 115
Table 42 - Payback Period and IRR - Worts Case ................................................................... 115
Table 43 - Compliance risk of KOLs HUB ............................................................................. 119
Table 44 - Strategic risk of KOLs HUB .................................................................................. 122
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Chapter 1: Introduction and execution summary
1. Idea introduction
There has been a significant change in influencer marketing campaigns; celebrities are no longer
the first choice of businesses to implement influencer marketing campaigns. Influencers with
smaller audiences have proven to be loyal, authentic, genuine and trustworthy, compared to their
celebrity counterparts. Celebrity is effective in the initial stages, while micro-influencers really
make an impact on consumer interests.
Because of this shift, it is more difficult for firms to find influencers that can deliver content that
resonates with brands and their audiences, and manage their campaigns. Understanding these
challenges, the KOLs HUB platform will be researched and developed to help them solve their
problems, assisting businesses to create influencer marketing campaigns to achieve the results
they want.
1.1 Project background
Vietnam has the highest number of participants using social networks, respectively, Facebook,
YouTube, Zalo, Instagram, and TikTok. They track influencer's accounts related to news,
services, and the needs of businesses marketing their products, advertising their brands to
customers based on influencers marketing for their campaigns. Based on that, our platform
developed the Influencers and brand connecting platform.
Influencer Marketing search trends are increased. The trend of Marketing Print Ads goes down.
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Figure 1- The trend of Print ads apps and Influencer Marketing
Source: Google Trends
1.2 Market problem identification
When businesses use influencer marketing campaigns without a 3rd party or platform, they will
lose much money; it takes much time to find the right influencer for their campaign. Influencers
are not committed to sufficient time for the campaign with brands. Besides, brands have
problems when they find influencers that they cannot meet the campaign's needs, and the
influencer's followers are not the customer files that the business wants to target.
1.3 Diversion Effort
Businesses can connect with third parties (Personal Relationships, Agencies) to carry out
influencer marketing campaigns, but since then, many problems occur when the two sides
cooperate, especially when using third parties to implement the campaign, the difficulty they
encounter is that both the business and the 3rd party do not understand each other in the process
of working, management campaign is ambiguous, the cost is not transparent in the working
process, 3rd party and influencer cannot guarantee work progress.
1.4 Mission
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KOLs HUB produces authentic marketing campaigns on digital platforms and links your brands
and products with exclusive influencers and their followers. Credibility, efficiency, and
reliability are top priorities for guaranteeing a professional and mutually beneficial collaboration
between all stakeholders.
1.5 Vision
KOLs HUB aims to become the leading influential marketing platform in Vietnam and the key
to sustainable social media marketing success. With the desire to continually evolve, KOLs
HUB applies advanced technology and creates more intelligent features. It is thereby bringing
practical value to influencers and businesses.
2. Product
2.1 Website User Flow Diagram
User flow is concerned with visitors once they reach the KOLs HUB site, and it is considered as
one part of a user journey. It visualizes various interactions users should have on the site aimed
to satisfy customer experience and needs. Thus, the product and UX team of KOLs HUB come
up with two user flows as below which determine how they want users to navigate their site,
taking into account the users’ needs.
2.1.1 Brands flow diagram
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Figure 2 - Brands flow diagram
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The brand's flow diagram starts with the account registration process. As usual, brands sign in to
the website and navigate to the home page. In the case that they have not had accounts yet, they
have to sign up for an account and verify it by email. In order to become official users, they have
to qualify KOLs HUB policy for brands and prove the authenticity of their brand through email
following instructions of the customer care staff. On the home page, brands choose between the
KOLs Matching feature and the Job posting and applying feature. A pop-up window, which
shows the feature description, appears as customers click on the feature.
In the next step, brands create a new campaign by choosing the Matching or the Job posting and
applying features. Then, they complete the campaign description to move to the next step.
Campaign description includes campaign name, stating day, ending day, objective, budget,
product, or service information. Also, brands should define target audiences based on interest,
location, age range, gender. If brands choose the Job posting and applying feature, brands are
able to post the campaign on KOLs HUB's marketplace after payment.
Otherwise, as brands choose the Matching feature, the KOLs HUB team recommends the list of
suitable influencers resulting from an AI-powered. The list is presented in the discovery section,
where marketers can view KOL profiles to get more information about influencers, and require
getting quotations. Also in this step, brands complete the assignment including job types,
hashtags, keyword, link, detailed descriptions, content orientation. Then, all the information is
automatically sent to the selected influencers and the official price is reported back in 24 hours.
In the final step, marketers select the favorite influencers, check and adjust all the information
before, give payment, and start the campaign.
When marketers click on the start the campaign, they are navigated to the management section.
There are profiles including brands' information, campaign management, and budget
management in this section. In the campaign management section, brands can manage
influencers individually in the influencer management section, and manage the campaign in the
daily report.
2.1.2 Influencers flow diagram
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Figure 3 – Influencer flow diagram
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The influencer's flow diagram starts with the account registration process. Influencers go
through the same process as the brand's account registration. In order to become official users,
they have to qualify KOLs HUB policy for influencers. The KOLs HUB customer care staff
will send the invitation to the community letter through email to the qualified ones after the
system has checked the authenticity of their social account. On the home page, influencers can
see the profile section, marketplace section, and management section. The users have to
complete their profile before starting any job on the platform.
In the marketplace dashboard, various campaigns posted by brands are presented. Influencers
can discover a diversity of jobs by scrolling down the list. They can see the detailed information
of the campaign by clicking on it, and apply for suitable jobs. All the job invitations from brands
are aggregated to the management section no matter the Matching or the Job posting and
applying feature they come from. In order to start a job, influencers send the quote for brands
who are waiting for getting quotations. Meanwhile, they should approve the campaign which
they like from the job invitation list as brands have elected them.
When influencers upload the posts on social media, they should click on deployment to inform
KOLs HUB that they have completed the offered jobs. Then our system will track these posts
and update daily reports to both brands and influencers. Users can get paid several days after the
campaign finished.
2.2 Features specification
KOLs HUB delivers influencer marketing solutions which streamlines customers' business. The
software helps identify and contact influencers in minutes. Also, it cuts marketers' time spent on
campaign management in half and ensures every campaign is a success. The KOLs HUB brings
influencer recruitment, management and analytics to brands, delivered through a single, robust
solution. Marketers can get access to an extensive influencer network of over 50,000 Micro to
Nano-influencer profiles across all social media platforms in over 15 markets. Machine Learning
powered tools help filter results with over 20 advanced search criteria to find the right
influencers for business’ campaigns.
2.2.1 Matching
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Figure 4- KOLs HUB Matching
Matching is the core feature of KOLs HUB website. It resolves the daunting task of selecting a
perfect influencer to deliver quality content that resonates with brands and audiences. After
marketers enter the criteria of their desired influencers, the complicated and time-consuming
task will be left for KOLs HUB's machine learning-powered system. The most suitable
influencers are identified and shown in a list. Brands can view their KOL's profiles to make the
final decision whether to approve or to deny them as well as require quotations. Furthermore,
this technology can conduct a pattern or footprint analysis amongst the followers to distinguish
between computer-generated and real-life influencers.
In particular, there are two main types of tasks within machine learning technology: supervised
learning and unsupervised learning.
Unsupervised Learning
Unsupervised learning is a machine learning method, where the system does not need to
supervise the model. Instead, it has to allow the model to work on its own to discover
information. It mainly deals with the “unlabelled” data.
Supervised Learning
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In supervised learning, the system trains the machine using data that is well “labeled.” It
indicates that some information is already tagged with the right answer. It can be compared to
learning which takes place in the presence of a supervisor or a teacher and can be further
grouped into regression and classification problems.
In the case of KOLs HUB, the company will apply supervised learning in the early development
stage, when there is not much data available. Then unsupervised learning applies at a later stage
when the company has a lot of data. In supervised machine learning, KOLs HUB will use five
main machine learning algorithms for the following three purposes. Firstly, Naive Bayes
Classification, and Support Vector Machines (SVM) are used to classify content, then calculate
the score of each factor affecting suitability score. Secondly, Ordinary Least Squares Regression
and Logistic Regression are used to predict the suitability score of influencers for a brand's
campaign. Finally, Ensemble Methods are used to optimize the algorithm.
The explanation of these five algorithms are shown in the table below:
Ordinary Least Squares Regression
Linear regression is mentioned a lot in statistics. Ordinary least squares –OLS is the most
widely used method for estimating parameters in
regression equations. It minimizes the number of
squares of the vertical distances between the data
collected and the regression line (or face).
In a simple way, linear regression is the duty of fitting a
straight line through a collection of points. There are
multiple possible approaches to do this, and the
“ordinary least squares” strategy goes like this - Draw a line, and then for each of the data
points, measure the vertical gap between the point and the line, and combine these up; the fitted
line would be the one where this sum of distances is as small as possible. One example is that
one can use this model to predict prices (housing, stocks), scores.
Logistic Regression
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Logistic regression is a powerful statistical method of modeling a binomial outcome with one
or more explanatory variables. It measures the
correlation between the categorical dependent
variable for one or more independent variables by
assessing probabilities using a logistic function,
which is the cumulative logistic distribution.
In general, regressions can be used in real-world
applications such as: Credit Scoring; Measuring the success rates of marketing campaigns;
Predicting the revenues of a certain product.
Naive Bayes Classification
Naive Bayes classifiers are a genus of simple probabilistic

classifiers based on applying Bayes’ theorem with strong (naive)
independence assumptions among the features. The featured
illustration is the equation — with P(A|B) is the posterior
probability, P(B|A) is the likelihood, P(A) is class prior probability,
and P(B) is predictor prior probability.
Some real-world examples are: To mark an email as spam or not
spam; Classify a news article about technology, politics, or sports;
Check a piece of text expressing positive emotions or negative emotions; Used for face
recognition software.
Support Vector Machines (SVM)
Support Vector Machines (SVM) is a binary

classification algorithm. Given a set of points of 2 types
in N dimensional place, SVM generates a (N — 1)
dimensional hyperplane to divide those points into 2
groups. Assume you have some points of 2 types in a
paper which are linearly separable. SVM will find a
straight line which separates those points into 2 types
and situated as far as possible from all those points.
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In terms of scale, some of the biggest problems that have been solved using SVMs (with
suitably modified implementations) are display advertising, human splice site recognition,
image-based gender detection, large-scale image classification.
Ensemble Methods
This method relies on a combination of several above methods to predict the results, then gives
the final result based on the weight of each method.
So how do ensemble methods work? and why are they better than individual models?
- Average out biases: some methods work well and give small errors, on the contrary, there are
also methods for big errors. On average we get an acceptable error, which can be less than the
error using only one method.
- Decreased dependency on the data set
(variance): the aggregate opinion of a
series of models has less noise than a
single model opinion. In the financial
sector, this is called multiplication - one - a
mixed portfolio of stocks with less
volatility than just one of the individual stocks.
- Reduced over-fit: over-fit is a phenomenon when the model works very well with training
data, but very poorly for test data. Combining multiple models at the same time helps to reduce
this problem.
Table 1 - The explanation of these five algorithms
Based on the principles of the above five algorithms, KOLs HUB has developed the core
technology building process for the platform. To calculate the suitability score to predict which
KOLs are most suitable for the brand's campaign, the authors take a survey and build a simple
linear regression equation as follows:
SS = 0.343 * AD + 0.097 * FL + 0.003 * CQ + 0.229 * IF + 0.071 * ER
Suitability score SS
Audience demographic AD
Followers FL
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Content quality CQ
Influencers field IF
Engagement rate ER
This equation is built on a fairly small number of samples (52 responses). Although the authors
have tried to make the survey as transparent as possible, omission is inevitable. Therefore, there
will be a survey with a larger number of samples to be able to determine the exact weights in the
equation. Then the equation will be further completed through the Logistic Regression algorithm
(performed by machine learning experts of DevTeam.Space on Google AI platform).
From the equation above it can be seen that the five factors that affect the suitability score
include: Audience demographic; Followers; Content quality; Influencers field; and Engagement
rate.
❖ With three elements of audience demographic, followers and engagement rate, they will
be taken from the influencers’ profile. Audience demographic is the number of points
built on the follower ratios: gender, geographic, age. Engagement rate calculation is as
follow: Engagement rate = ((Like + Comments + Shares) / Total Followers) * 100.
❖ Regarding the other two factors, content quality and influencers field will be analyzed
from the influencer's content. Content quality will be displayed on the website of KOLs
HUB as the Resonance score. It evaluates the level of correlation between followers’
comments and influencers’ content. The Influencers field will be shown in the Relevance
score which is the relevance level of influencers' content to specific topics. The scale
ranging from one to one hundred scores. These two metrics will be calculated using
Google natural language processing (NLP) (which has been completed by the Naive
Bayes Classification and Support Vector Machines (SVM) algorithms mentioned earlier)
in Google natural language processing (NLP) API. Here, influencer's posts will be
sentiment analysis, entity analysis, entity sentiment analysis, content classification,
syntax analysis. Then classify and calculate a relevance score.
All five variables will be estimated based on the brand's match of the influencer search
requirements. In the first stage (when there is not much historical data) KOLs HUB will equally
divide the importance of the elements that the brand describes. For example, in the variable
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audience demographic, the brand describes only two factors: age and sex, the weight will be 0.5
for each factor. As a company has more data history, the weighted values will change for each
industry and type of marketing campaign to achieve maximum efficiency.
After the algorithm is more complete in the elements and weights in the equation, it will
continue to be optimized through the Ensemble Methods algorithm. The whole process of
building and improving the algorithm will mainly be developed by DevTeam.Space on Google
AI of Google cloud. The finished product will be a model that will be integrated into the server
system of the platform. The process of building core technology of KOLs HUB will be briefly
summarized in the diagram below:
Figure 5 – Building core technology of KOLs HUB
2.2.2 KOL profiles
KOLs HUB builds an influencer database by processing all of the data available on Social
Media. Thereby it collects and discovers more than 21,793 qualified influencer profiles
according to the Vietnam influencer market overview first half 2020 report from Innity. This
number is narrowed down by picking up Micro and Nano-Influencers whose followers are under
five hundred thousand. Every influencer must be approved before becoming one of the KOLs
HUB influencer community members. The platform automatically detects anomalies in
influencer metrics, so fraudulent and fake influencers, whose followers are inorganic and
artificially inflated numbers, are immediately blacklisted. Finally, selected influencer profiles
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are listed on the platform which display essential and meaningful indicators to support the
influencer selection making of brands.
Natural language processing (NLP) analyses the content of a creator’s posts and generates things
like interests, industries, demographics, and brand affinities from them. In this way, personal
information of every influencer such as age, gender, occupation, influential titer, and topic are
revealed. In particular, KOL profiles provide the information with a detailed breakdown of
audience insight, analytics, and recent activities for social media platforms and blogs of
influencers. The audience insight includes total follower, follower growth, active follower, age
groups, gender, country of origin, cities, and more. Engagement rate, resonance score, and
relevance score are the core of the analytics indicators. Meanwhile, the relevance score shows
the consistent level of influencers' content to specific topics. The resonance score shows the
degree to which the follower comments align with the topic of the posts. On the other hand, the
recent activities feature reveals the influencers’ top-performing posts ranked in order. It instantly
shows brands if they’re sparking engagement around the interests that align with the brand.
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Figure 6 – KOLs profile
2.2.3 KOLs finding
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Figure 7 – KOLs HUB Finding
Unlike the Matching feature that applies the machine learning-powered tool to identify the
influencer that aligns with brands' criteria, KOLs Finding is a job board where brands recruit
influencers. Marketers first create a campaign by filling a campaign brief including campaign
name, product or service category, target customer, objective, description requirement, hashtag,
and so on. After the number of required influencers and budget are filled, the campaign
information is posted on the KOLs HUB website where influencers in the platform community
can see and apply. Marketers can see who applied for their job and their KOL profiles to make
decisions. The job posting will close when there are enough influencers or the budget runs out.
This manual method is a more cost-effective solution for small businesses that have much time
and want to execute a campaign with a small number of influencers. It is also noticeable that the
level of fit is not as high as the Matching feature by machine learning technology. However, the
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KOLs HUB team ensures the final influencer list that marketers receive will be the shortlist of
the most suitable applicants.
2.2.4 Management
This feature is especially powerful when marketers run multiple influencer marketing campaigns
at the same time. Campaign management, influencer management, budget management are
integrated into one dashboard. Hence, various campaigns are streamlined for all brand needs at
once to stay on top of their influencer selection & offers.
Before the start of a campaign, a list of selected influencers from the previous process is
presented along with a couple of selections such as view KOL profiles, accept, denied, the price
offered, and fundamental social evaluation. Thus, marketers can check who accepted their offer
& approve influencers to move on to the next step or make adjustments to their selection of
influencers. KOLs HUB offers intuitive software where business owners can set up and run
many influencer marketing campaigns simultaneously while overseeing their total budget and
the duration of each campaign.
Figure 8 – Management
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2.2.5 Daily report
This feature supports campaign management in monitoring and controlling outcome. It collects
up-to-the-minute data about the traffic of each influencer's posts and presents it online through a
data-driven dashboard as it happens. As marketers are able to receive information in its most
current form, it is easy for them to make quick decisions when under heavy time constraints. It is
noticeable that the indicators vary depending on the objective of each campaign. In general, 24/7
reporting services provide statistics related to the audience demographic, average engagement,
click-through rate. As a result, KOLs HUB real-time statistics show brands calculations of their
ROI, total earned media value, impressions, reach as well as a summary of all media
engagements. On the other hand, since marketers can set up individual tracking links to the
brand's website or specific posts, they can find out which influencers perform the best. Besides,
the campaign’s performance is tracked across different platforms to give them an idea of what
works best for their brand and future campaigns.
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Figure 9 – KOLs HUB Daily report
2.3 Product Development Roadmap
KOLs HUB's purpose is to simplify and optimize the process of influencer marketing in firms.
Thus, brands and influencers are able to find perfect matched partners and to execute successful
campaigns with transparent ROI. Therefore it is vital to apply the new product development
process to deliver commitment values to KOLs HUB's customers. According to Kotler and
Armstrong (2011), this process consists of eight major steps presented in the figure below.
The product roadmap is divided into four phases to tackle every single aspect of the new product
development and ends within six years.
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Table 2 - New product development roadmap of KOLs HUB
2.3.1 Phase One (5 months)
The first phase is crucial as it set the very first foundation for the company itself. In particular, it
includes a list of sequential activities related to idea generation and screening, concept
development and testing; then, product development involves building a complete technology
core, front-end, back-end, and testing.
In the first step of idea generation and screening, the team brainstorms the available ideas and
narrows down these ideas to the most feasible ones. After going through internal and external
research, the idea of an "influencer marketing platform" has been chosen. It was inspired by the
success of Hipp Asia in Vietnam, and the idea of Viral Works on the show "Shark Tank
Vietnam''. Moreover, we did some information research on the influencer marketing market in
Vietnam and worldwide in chapter two to comprehend the customers’ behaviors and business
trends. Direct and indirect competitors inside the nation are also analyzed in chapter two so that
the team can come up with the right segmentation. Besides, the partnership with the related ones
is discussed in chapter three. Next step, the team discusses the features of the product and picks
up the most useful ones, as well as eliminate the unnecessary ones. A survey on 50 marketers
across various sectors in Ho Chi Minh city was conducted to support this step.
In the next stage, the chosen ideas must be developed into different concepts and ready for
testing. Thus, the team can find out how attractive each concept is to customers and choose the
best one. Possible product concepts are:
❖ Concept 1: an influencer marketing solution that helps brands find the right
influencer; measure, and monitors the ROI of each campaign by time.
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❖ Concept 2: an influencer marketing solution that can eliminate influencer fraud;

deliver a clear workflow, and help brands find the right influencer
❖ Concept 3: an influencer marketing solution that can connect brands and
influencers; manage campaigns easily.
In the next sub-stage, each concept needs to be tested with groups of target consumers. In the
KOLs HUB survey, target consumers are asked several questions to find out the consumer
appeal and customer value of each concept.
When a product concept passes business tests, it is ready to develop into an actual product,
which can be turned into a workable market offering.
Product development work consists of two main parts: core technology development (matching
algorithm) and build front-end & back-end. They will be happening at the same time, in which
the development of the algorithm will be built by DevTeam.Space on Google AI; and front-end
& back-end construction will be undertaken by ISCS (timelines and main activity names are
mentioned in Chapter III - section 2.3 key activity). The algorithm building principle was
mentioned by the authors in section 2.2.1 Matching. Here is the actual process of developing the
core technology of KOLs HUB:
As mentioned earlier, first, KOLs HUB will perform data collection including:
❖ Profile data and influencers posts on social networking sites

❖ Content analysis data of influencers on YouTube (video).
❖ Survey about influencers selection factors to match for marketing campaigns.
All data will be updated and processed on Google AI to build core technology. The process is
clearly shown in the diagram below:
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Figure 10 - Process on Google AI
(In which, Data label, BigQuery Datasets; Notebooks; AutoML; ...are all names of individual technology
products of Google)
Once a complete algorithm has been built, it will be integrated into the server system, then a
demo of the website will be created for testing in the market. This gives the team experience and
reduces risk before going to the great expense of full introduction. The testing is applied to the
target group of customers in Ho Chi Minh city area in the 4th month. They can experience the
Matching feature for free with a limited influencer number, then give feedback to KOLs HUB
team about their desires and rating on this feature. Besides, the team holds many focus groups
where customers share ideas about the necessary elements on their desired report and
management dashboard. Otherwise, KOLs HUB Facebook’s fan page and landing page are
ready to drive customers' feedback and attention. All the tasks mentioned above must be
executed by effective, hard-working employees. So that it is vital to seek and train human
resources. The detailed plan is discussed in chapter three.
After all the testing is done, KOLs HUB will complete the website so it is ready to launch the
product by the fifth month.
2.3.2 Phase Two (7 months)
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In this 2nd phase, KOLs HUB will center the construction of automated systems, including
automated data updates and automation improves the algorithm over time. Besides, the company
also improved the website UX and UI. For improved automation KOLs HUB algorithm using
Google AI pipeline automation and CI / CD pipeline automation
ML pipeline automation: Perform continuous model training by automating the ML pipeline,

and achieve continuous delivery of model prediction service. To automate the process of using
new data to retrain models in production, KOLs HUB needs to introduce automated data and
model validation steps to the pipeline, as well as pipeline triggers and metadata management.
Below is a schematic diagram of how it works:
Figure 11 - ML pipeline automation
CI/CD pipeline automation: For a rapid and reliable update of the pipelines in production,
KOLs HUB needs a robust automated CI/CD system. This automated CI/CD system lets KOLs
HUB's data scientists rapidly explore new ideas around feature engineering, model architecture,
and hyperparameters. They can then implement these ideas and automatically build, test, and
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deploy the new pipeline components to the target environment. Below is a schematic diagram of
how it works:
Figure 12 - CI/CD pipeline automation
In addition, KOLs HUB conducts surveys on website performance and develops new features to
improve user experience. Then the data will be analyzed and considered for development. This
research and development will be done by the marketing team of KOLs HUB.
2.3.3 Phase Three (2 years)
During this development phase, the team will keep working on perfecting the Matching feature.
After gathering information and considering whether this function is workable or not, the
development team will fix the errors that customers often encounter after a period of time using
this function. The main purpose of the final phase is optimizing and maximizing the user
experience as well as the value that the solution given by KOLs HUB is likely to bring for
customers.
In order to make the platform become a success in the market, the most essential is to focus on
creating superior customer value.
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In order to make the platform become a success in the market, the most essential is to focus on
creating superior customer value. Hence, the database is updated constantly to ensure that every
practice is consistent and precise. At the same time, maintaining and improving the observed
machine learning tools is prioritized.
Influencer's quality and quantity are one of the main values that KOLs HUB bright to its
customers. The team set the goal to expand the KOLs HUB community members to double in
two years. The marketing and partnership building efforts are discussed in chapter three.
Also in this phase, the team plans to develop the Workflow application and the KOL application.
These two separate applications serve two specific subjects and objectives. The Workflow
application is designed for brands to monitor and control their influencer marketing campaigns.
The KOL application is designed for influencers to update and follow their jobs on the platform.
Moreover, they are able to get job notifications immediately so as not to miss career
opportunities. As a result, the operation process is accelerated, and both parties' workflow
becomes more easy and efficient.
2.3.4 Phase four (3 years)
The main purpose of the final phase is optimizing and maximizing the user experience to bring
the most value to customers. During this final development phase, the team will keep working
on enhancing the KOLs Finding feature, the Management feature, and the Daily report feature.
After gathering information and considering whether these functions are workable or not, the
development team will fix the errors that customers often encounter after a period of time using
them. Besides, history data collected during the two-year operation of the platform will be
served to improve the precision of the Matching feature. Moreover, in this phase, the KOLs
HUB currently completes all of its features. As well as improving the logical and intuitive
feelings of the users of its functions, the team also upgraded UX and UI to make the application
more cohesive yet more powerful. Besides, the "Workflow" app and the "KOL" app will
officially launch in 2024.
Retaining loyal customers and generating more sales are also the business's main goals. The
marketing team will cooperate with the sales team to come up with many attractive plans in the
future.
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When the platform becomes relatively stable, it is time for expansion to the whole national,
focusing on big cities where beauty, travel, food, and FMCG industries are highly developed
such as Da Nang, Can Tho, Da Lat, Nha Trang, etc.
2.3.5 Future roadmap
This phase will point out some plans for the growth and expansion of KOLs HUB platforms.
The team expects to draw all of the qualified nano and micro influencers within the nation into
the KOLs HUB community in the next two years.
The advanced feature will be released in this phase. The potential of this new feature was proved
on the KOLs HUB survey as 61,7% of attendants want to use this feature, and 8,5% of them
consider using it. In particular, this feature helps brands, especially local brands generate online
reviews and feedback on their social media. It will work like the KOLs Finding feature, but the
applicants are not necessary to be influencers. With an authentic social account and a number of
required followers, anyone can become a reviewer on KOLs HUB platform. On the other hand,
the newly established businesses can gain credit for their brand by acquiring feedback and
reviews.
In conclusion, with the potentials of machine learning blooming in the future, KOLs HUB has a
desire to change the way enterprises execute influencer marketing and replace influencer
marketing agencies. KOLs HUB aims to become the number one influencer marketing platform
connecting SMEs and nano and micro influencers.
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Figure 13 - Demands for features to fine reviewers / feedback and manage brand comments on social
network
Source: Author’ Survey
Chapter 2: Market analysis
1. Market trend analysis
1.1 Industry background
Vietnam social network overview
Vietnam is one of the countries with the highest social network usage rates among countries with
similar per capita income. Vietnams’ total population is 96.9 million people, while the number
of active social media users is 65 million people, which leads to a penetration rate of 67%.
Vietnam users follow many social networking sites or celebrity accounts, news sites, music
channels, and food-related accounts. Although influencers use various channels to share content,
most social media users in Vietnam still prefer to use Facebook, YouTube, and Instagram to
follow them. The top five most-used social media platforms are Facebook (90%), Youtube
(89%), Zalo (74%), Instagram (46%), and TikTok (39%) (Hoot Site, We Are Social, 2020).
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Figure 14 - Top five most-used social media platforms
Source: Hot site, We Are Social 2020
Facebook is still a social networking site used by many people of all generations and all ages.
YouTube is the second website to be visited after Google. Besides, Instagram and TikTok are
the apps most visited by the Gen Z generation. In Vietnam, Gen Z is the generation that decides
online advertising trends such as Influencer Marketing and Video content.
With 300 Gen Z and Generation Y people in Ho Chi Minh City and Hanoi, a survey was
conducted by Vero on the level of trust in TV advertising and influencers who made them aware
of the product. The survey found that consumers trust close friends (80%), family members
(64%), followed by advertising on Facebook and Instagram (53%). In terms of reliability, the
influencers are rated the most. Up to 66% of survey respondents feel confident in advertising
products or brands when influencers join. There is a favourable context that drives influencer
marketing to develop in the Vietnam market.
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Figure 15 - Survey 300 Gen Z and Generation Y people in Ho Chi Minh City and Hanoi
Source: Vero ASEAN
Influencer overview
The most important factor in influencer marketing is the influencer. They are people who have
the ability to affect the purchasing decisions of their followers (audiences) because of his or her
appearance, knowledge, career, or relationship with his or her audience. They have their own
community with whom he or she actively engages. The followers size depends on the size of his
or her topic of the niche (Influencer marketing hub, 2020). According to an analysis of
influencer marketing in Global and Vietnam, influencer marketing has become popular and
spread across fields and industries globally and in Vietnam. The trend of using influencers in
brand campaigns is inevitable to spread messages quickly and viral.
Influencers can be categorized in several ways. Some of the most common approaches are the
number of followers, type of content, and degree of influence. In this report, the authors’ group
will classify influencers according to their followers and show specific examples. According to
STIM (Standard Terminology in Influencer Marketing) of Mediakix, there are five types of
influencers.
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Celebrities or Mega influencers have achieved celebrity status on social networks with a
massive fanbase of 1,000,000 or more followers. Some mega-influencers are famous actors,
singers, and athletes. For example, to target a young, stylish customer in the mid-range
smartphone segment, Oppo chose singer Son Tung M-TP (5.8 million followers on Instagram)
as the representative.
Macro influencers are established Instagram stars with a sizable following of 500,000 -
1,000,000 followers. For example, cosmetics brand Lemonade Cosmetics had an impressive
supernatural eyeliner and mascara launch marketing campaign with actress Kaity Nguyen (1.1
million followers on Instagram).
Mid-tier influencers, names like writer Phan Y Yen, TV Producer Tran Quoc Khanh, dancer
Giang popper, travel blogger Dinh Hang are in this group. They are often popular in a particular
field of expertise, such as writers, dancers, directors, yoga coaches, travel bloggers, technology
product reviewers.
Micro and Nano influencers could be freelance models, photographers, dance students and have
close relationships with followers. Usually, audiences follow these micro influencers because
they actually have a real-life relationship or share a special interest in a certain topic. Their
sharing is also the real experience of a normal consumer so the level of trust is very high. Based
on Hiip Asia's analytical data, it shows that, despite the limit of followers (1,000 - 100,000
followers), Nano and Micro influencers are the two groups with the highest interaction rate
among all types of influencers. Therefore, if brands want to reach the target audience at the most
“niche” level, brands should cooperate with those groups. Moreover, working with micro and
nano influencers also helps brands save cost and still achieve specific marketing goals.
Influencer development
In 2012, influencer marketing began to appear in Vietnamese market, influencers at that time
were not as diverse as today, but content creators that influenced the public, they were young
people with personalities and inspired young people to investigate very much. Along with the
strong development of influencer marketing worldwide and in Vietnam, content creators
gradually richer and more diverse fields such as food bloggers, travel bloggers, beauty bloggers,
and fashion bloggers.
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In 2016, the emergence of Micro and Nano influencers and social networking platforms shaped
and changed the advertising market of brands and businesses.
Mega influencer was used a lot in 2015 and has been fully exploited with few new elements.
According to (Influencer Marketing Hub, 2020), Mega and Macro influencers' interaction rate
and customer impact were no longer effective in 2016. In 2019, there was a big change in
Influencer Marketing, Nano and Micro influencers were used and brought more efficiency to
business. Specifically, the interaction rate and impact of Mega and Macro Influencers is 1: 3 on
customers, and Nano and Micro-Influencers is 1:10. According to (7SAT, 2020), the budget for
brands spent on Nano and Micro influencers is up to 60%, the number can reach billions of
VND for a large campaign scale.
Nano and Micro Influencers have a low number of followers to exchange and interact with each
other easily, giving their fans confidence in the influencers they follow. In contrast, Mega and
Macro Influencers have followers of 10 million or more, with such a number, Mega and Macro
Influencers can hardly interact with all of their fans.
Influencer marketing in Global and Vietnam
Influencer marketing is a kind of social media marketing that takes advantage of endorsements
and product mentions from influencers, who are individuals or organizations with a social
following and expert level of knowledge within their niche (Brown, Duncan and Hayes, Nick,
2008). Globally, the searches for "influencer marketing" in Google experienced significant
growth since 2015, from 3900 searches per month to 70,000 searches in 2019. At this rate, it is
projected that more than 100,000 searches will be generated in the year 2020 (Influencer
marketing hub, 2020). Search surged 1500% during the last three years and grew 43% in 2020
alone on Google.
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Figure 16 - Search for Influencer Marketing over the last 3 years
A similar trend was seen in Vietnam, which is demonstrated in the figure below.
Figure 17 - Similar trend search for Influencer Marketing in Vietnam
Source: Google Trends

The influencer marketing industry was figured to be worth $1.7 billion in 2016. Since then, it has
continuously risen at least 50% each year. The estimated market size in 2020 will approach $9.7
billion (Influencer marketing hub, 2020). The figure in Vietnam is estimated to be $69 million,
excluding brand ambassador contracts, offline, and television advertising activities. The top 5
most spending industries for influencer marketing are FMCG (31%), beauty (10%), technology
(6,8%), e-commerce (5,4%), insurance and finance (5,1%) (7SAT, 2020).
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Figure 18 - Distribution of spending by industries
The cost of an effective influencer marketing campaign can bring in revenue 6.5 times the cost
of brands spent previously (Influencer Marketing Hub, 2020). 4000 businesses marketers survey
samples show that 79% of them will continue to spend their influencer marketing budgets. About
66% of marketers plan to increase budgets for influencer marketing.
Figure 19 - Influencer Marketing budget for next 12 months
To conclude, the data about influencer marketing of the global and Vietnam prove that
influencer marketing is a potential and developing market.
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1.2 Customer behavior
1.2.1 Influencers impact on customers
Human psychology is a feeling of being connected to the people with similar interests. We are
easily attracted to influencers, friends, and family because we have so much in common, and that
is what influencers benefit. Connecting ultimately leads to higher levels of reliability.
In global, 65% of Consumers routinely discover new products and brands through influencers at
least once a week. Also, 24% of consumers say they find at least one new brand or product from
influencers daily. With this frequency, brands have more opportunities to reach new consumers
through influencers. Plus, 87% of surveyed consumers say they are inspired to buy based on
what they see from an influencer, which proves that influencers have a price. Value for the
marketers, but also how "influence" they have on consumers.
In Vietnam, according to (Nielson, 2016), about 92% of users are persuaded to buy more
products when these influencers recommend them rather than the brand itself or advertise
banners and billboards. In Vietnam, surveyed 300 people in Ho Chi Minh City and Hanoi, up to
66% of customers feel confident in a product or brand when advertising with influencers in it.
1.2.2 Influencers impact on businesses
According to the authors' survey conducted by 52 marketers and managers of SMEs. 32 people
have never used influencer marketing services, and the remaining 20 people have used
influencer marketing services. The figure below shows the authors’ survey influencer marketing
experience.
Figure 20 - Influencer Marketing Experience (Source: Authors' survey)

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Next, up to 74% of both businesses' choices that already use influencer marketing and businesses
that do not use influencer marketing want to have between one and five influencers participating
in a influencer marketing campaign.
Figure 21 - The number of influencers that marketers use in a marketing campaign
Source: Authors' survey
Also, for businesses that have used influencer marketing, up to 66% of marketers will spend
10% to 20% of their budget to continue using influencer marketing campaigns, and 26% of
Marketers will spend 20% to 30% to continue using this Marketing campaign.
Figure 22 - Percentage of marketing budget spent on Influencer marketing
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Besides, businesses have used influencer marketing through connected platforms in the market
and third party (personal relations or agency). Marketer tends to find influencers through
personal relationships more than the other 2 channels.
Figure 23 - Source/ Channel search for KOLs
For those who have not yet used influencer marketing, over 85% of their future options are
intentional and considering using the platform to connect and manage KOLs with businesses.
For those who have used influencer marketing, most of them intend and consider using the
platform to connect and manage influencers for their campaigns.
Figure 24 - Intention to use the connected platform of marketers who used connect platform before
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About 83% of people who already use the platform will use it again because they feel influencer
marketing is useful for their advertising campaign. The influencers they would like to use are
Nano and Micro influencers.
Figure 25- Intention to use the connected platform of marketers who never used connect platform
before
The most important factors for businesses that have used a connected platform are the quality of
KOLs articles, the KOLs' positioning in line with the type of product, and the business's target
audience. The chart below will clearly illustrate what is required of a KOLs networking
platform.
Figure 26 - KOLs selection criteria (Source: Authors' survey)
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For businesses working with a third party, bad communication and interaction between
businesses and the third party is a big problem. Also, the working process between the third
party and influencers for businesses is not straightforward.
Figure 27 - Difficulties in working with a third party to connect with KOLs
For businesses that have not yet used influencer marketing, up to 18 businesses intend to use it
in the future. Their selection criteria with influencers, in turn, are number of followers,
influencers’ positioning, engagement rate, and target audience that businesses targeted.
Figure 28 - Influencers selection criteria
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Based on the survey, the business's desire to use a connection platform and a third party is to
find KOLs suitable for the campaign and manage KOLs during the campaign.
The business's desire to use a connected platform is to view the KOLs Profile, and the number of
brand mentions when KOLs launch the campaign is an essential factor. For third parties and
businesses that intend to use the platform in the future, businesses want to see real-time data
during the campaign.
Figure 29 - Platforms’ necessary features
In conclusion, according to the authors’ survey, the required features in a connected platform are
finding the right influencers for marketing campaigns, controlling campaigns by daily reports,
and managing the campaigns. To influencers, it is necessary to check their followers, fields and
identify the content that influencers recently posted.
2. Customer analysis
2.1 Customer segmentation
2.1.1 Brands segmentation
In order to develop KOLs HUB platform, our company began to define its customer target
segments. Our target audience is small and medium enterprises (SMEs) in the service industry,
in the Vietnam market and have a new establishment period from 2018 to 2020 (3 years). The
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total number of newly-established enterprises in Vietnam are 237,139. The two big cities, Ho
Chi Minh and Hanoi, have the most number of newly-established enterprises.
Geographic segmentation:
For Ho Chi Minh City, in 2018, there were 43,230 newly established enterprises. In 2019, it
increased to 44,044 and by 2020, there were 17,767 newly established businesses in Ho Chi
Minh City. For the capital Hanoi, in 2018, there were 25,231 newly established enterprises. By
2019, Hanoi will have 13,630 newly established enterprises, and by 2020 there will be 7780
newly established enterprises. Thus, the total number of newly-established enterprises in Ho Chi
Minh City is 105,001 and 46,641 in Hanoi. The total number of newly-established enterprises in
both regions is 151,642. Newly established businesses in the service industry account for 72.1%
(General Statistics Office of Vietnam, 2019), (service industry include: FMCG, beauty, fashion,
finance insurance, travel, F&B, auto and moto, education, technology, gaming, medicine, real
estate, transportation, electronic commerce, retail).
TARGET SEGMENT
Total number of enterprises in VN 758,610
Total number of new SMEs at HCM and HN (2018 - 2020) 151,642
Number of service SMEs at HCM and HN (2018-2020) 109,333
Percentage of target segment 14.4%
Table 3 - Target Segment SMEs 2018-2020
2.1.2 Influencers segmentation
Influencers classification
As defined by STIM (Standard Terminology in Influencer Marketing), there are five types of
influencers: Celebrity or Mega influencers, Macro influencers, Mid-tier influencers, Micro-
influencers and Nano-influencers. They are ranged from top to bottom with the most significant
to the lowest number of followers respectively as shown on the figure below.
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Figure 30 - Influencer tiers
The Effectiveness of Micro and Nano Influencers

Micro influencers are social media influencers with roughly 10,000 – 100,000 followers. Micro
influencers have the ability to cultivate niche communities around specific interests. Whereas
larger influencers attract a broader swath of followers across many groups, micro influencers
enable brands to tap into more clearly defined micro communities. This has enabled marketers to
launch highly tailored micro influencer campaigns to approach a specific community - the target
audience. In general, micro influencers are effective for raising awareness about new products
across a variety of communities.
Nano influencers have a small following of roughly 1,000 – 10,000 users on social media
platforms. Most nano influencers know their followers personally, so brands hope that their
promotion will attract strong engagement and will feel more authentic than a macro influencer
who does not personally know a majority of their large following. Sapna Maheshwari, author of
the New York Times’ piece explains: “Their lack of fame is one of the qualities that make them
approachable.” And “When they recommend a shampoo or a lotion or a furniture brand on
Instagram, their word seems as genuine as advice from a friend.” As a result, nano influencers
are suitable for converting sales.
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According to Influencer Marketing Hub (2020), the average engagement rate on Instagram of
micro and nano influencers is higher than the larger influencers about 1,4 – 3,4 times.
Figure 31 - Average Engagement Rate On Instagram
Due to the effectiveness of Micro and Nano-Influencers that our company has analyzed above,
KOLs HUB decided to choose Micro and Nano-Influencers whose followers are under 100,000
as the target segmentation of customers and partners. Our company truly believes that we would
cooperate and bring benefits to them on the path of long-term relationships.
2.2 Customer behavior
According to the authors' survey conducted by 52 SMEs. The people who answer our
questionnaires are marketers and managers of SMEs. 32 people have never used influencer
marketing services, and the remaining 20 people have used influencer marketing services.
Figure 32 - Influencer Marketing Experience (Source: Authors' survey)
Next, up to 65% of both businesses' choices that already use influencer marketing and businesses
that do not use influencer marketing want to have 1-5 influencers participating when using the
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campaign. Businesses that have used influencer marketing will most likely spend 10% of their
budget on their campaigns.
Figure 33 - Percentage of marketing budget spent on Influencer marketing
Also, businesses have used influencer marketing through existing platforms in the market and
third parties (personal relations, Agency). This sample is reliable because the SME responses are
not too skewed.
Figure 34 - Source/ Channel search for KOLs
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Figure 35 - Demand for features to find reviewers feedback and manage brand comments on social
networking sites
In conclusion, the required features in a connected platform are finding the right influencers,
controlling marketing campaigns by daily reports, and managing influencers throughout the
campaign. For influencers, it is necessary to check their account and followers, describe the
influencer's position in the future, and clarify the content that influencers recently posted.
2.3 Problems
From the marketing analysis, the authors have surveyed SMEs to better understand the problems
they are facing and their hidden needs. In this section, our company analyzes the difficulties
potential customers face when working with influences and existing connected platforms or a
third party (personal relationships or agency).
The first is the difficulty in working with influencers. The majority of respondents agree that
influencers do not have a clear commitment to the work (reaching 78.6% in respondents through
third parties, and reach 33,3% in the platform users). Also, influencers' price is too high, not
suitable for the business (this factor accounts for 35.7% and 83.3% of respondents through third
parties and platforms, respectively). Besides, with the prospective survey subjects who search
for influencers through a third party, they also have difficulty in influencers not guaranteeing the
work's content and progress (28.6%). The detailed results of the survey are presented in more
detail in the following two charts.
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Figure 36 - In the case of people searching for KOLs through a third party (personal relationship or
agency), difficulties in working with KOLs
Figure 37 - Where people seek KOLs through a connected platform, difficulties in working with KOLs
Finally, there are difficulties when respondents work with a third party or with a connected
platform. Most of the respondents agreed that a high cost is one of their obstacles when deciding
to use influence marketing (35.7% and 33.3% respectively in using a third party and using a
connection platform). Both groups of respondents also have very different obstacles. In the case
of third-party users, one of their biggest hurdles is when they and the third party do not
understand each other in the process (50%). The second and the fourth obstacle are ambiguous in
management and non-transparent costs in the process, accounting for 42.9% and 28.6%,
respectively.
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Meanwhile, for the group using the connection platform, the unreliable results and ROI
indicators of the platform report is the biggest obstacle they decide to use (50%). Besides, they
also had trouble using the connected platforms that were too difficult to use (accounting for
33.3%). These are presented more clearly in the two charts below.
Figure 38 - In the case of people searching for KOLs through a third party (personal relationship or
agency), difficulties in working with a 3rd party
Figure 39 - In the case of those looking for KOLs through a connected platform, there are difficulties
when working with a connected platform
2.4 Market size
Top-down
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KOLs HUB approaches the market by analyzing top-down to estimate the market size. Our
company begins with the total addressed market and gradually narrows it by using demographic
data and target segmentation to estimate the market share.
In the first year, KOLs HUB positions itself as a connecting platform between SMEs and
influencers. According to (7SAT, 2020), the total Vietnam influencer marketing market is
valued at 1,599,129,846,600 VND (69,000,000 USD).
However, the target market of KOLs HUB is expected to be a market collaborating with micro
and nano influencers. According to (7SAT, 2020), the total size of micro and nano influencers
marketing market in Vietnam accounts for about 60% of this market and is worth the equivalent
of 959,477,907,960 VND (41,400,000 USD).
According to (Influencer Marketing Hub, 2020), about 40% of businesses are willing to use
third-party influencer marketing platforms, and they are also potential client groups that KOLs
HUB is targeting. This group is expected to bring the equivalent value of 383,791,163,184 VND
(16,560,000 USD).
Not all businesses will decide to collaborate with the KOLs HUB, considering we have decided
to target a group of Service SMEs in Ho Chi Minh city and Hanoi who were newly established
within three years (2018-2020). According to (General Statistics Office of Vietnam, 2020),
Vietnam has 758,610 businesses in operation, of which the number of SMEs in Ho Chi Minh
City and Hanoi established within three years is 151,642. It is known that the number of SMEs
in service industries is about 109,133 enterprises (General Statistics Office, 2020). Thus, the
target segment of KOLs HUB will account for about 14.4% of the businesses operating in
Vietnam, and the value is 55,265,927,498 VND (2,384,640 USD).
As a newly established business, KOLs HUB expects to gain a 10% market share
(5,526,592,750 VND) (238,464 USD) in the first year of operation to meet the cost and the set
goals. A brief version of KOLs HUB top-down analysis might look like the table below:
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No. Description %
1 Total Vietnam influencer marketing market _ VND 1,599,129,846,600
Total size of Nano/Micro Influencer
2 Marketing market in Vietnam 60% VND 959,477,907,960
Target market - Use 3rd-party influencer
3 marketing platforms 40% VND 383,791,163,184
4 Market size - target segment 14.4% VND 55,265,927,498

5 Market share for year one 10% VND 5,526,592,750
Table 4 - KOLs HUB top-down analysis
Bottom-up
KOLs HUB will define the market size according to the bottom-up method based on estimated
revenue. Estimated revenue of KOLs HUB comes from two main sources: KOLs matching
(commission) (98.67%) and KOLs finding (1.33%)
KOLs HUB expects to reach about 10,933 (10%) collaborative businesses in the first year based
on our target segment – 109,333 SMEs. According to the authors' survey, it is estimated that
87% of businesses are willing to experience the demo version (equivalent to 9512 SMEs).
Through the survey, KOLs HUB is expected to have 43% of businesses that will conduct the
transaction (it is equivalent to 4081 SMEs). A brief version of KOLs HUB target customer
analysis might look like the table below:
No. Description % Number of businesses

1 Target segment _ 109333
2 Approached businesses 10% 10933
3 Using demo businesses 87% 9512
4 KOLs HUB customers 43% 4081
Table 5 - KOLs HUB target customer analysis
The KOLs finding package will be sold at 50,000 VND per month and is expected to reach the
sales of 1428 packages (it is equivalent to 35% of 4081 SMEs) in the first year. The KOLs
finding package is estimated to bring KOLs HUB 71,400,000 VND (equivalent to 1.33% of total
revenue in the first year).
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The KOLs matching - commission revenue is seen as the main source of profit for the KOLs
HUB for the first year and will account for 98.67% of the total revenue the company hopes to
achieve. For each campaign between influencer and business conducted on the platform with
support from the KOLs HUB, KOLs HUB will charge 30% of the transaction's total budget
(15% from business and 15% from an influencer). According to Influencer Discovery (2020),
the average budget for nano/micro-influencers marketing is about 2,000,000 VND. It is
estimated that KOLs HUB will reach 2652 transactions (equivalent to 65% of 4081 SMEs) in the
first year. With 2652 transactions reached on the platform in the first year, the commission's
revenue stream is expected to reach around 5,304,000,000 VND. A brief version of KOLs HUB
bottom-up analysis might look like the table below:
No. Descriptions %
1 KOLs finding 1.33% VND 71,400,000
2 KOLs matching 98.67% VND 5,304,000,000
3 Total VND 5,375,400,000
Table 6 - KOLs HUB bottom-up analysis
To summarize, after conducting top-down and bottom-up analysis, KOLs HUB has a better
understanding about the total influencer market. From the top-down to estimate the target
segment and the expected market share for the first year while the bottom-up to figure out that
there are always numerous clients in the segment KOLs HUB approaches. As can be seen, the
analyses by KOLs HUB have given estimates roughly equal, ranging from about 5,375,400,000
VND to 5,526,592,750 VND for the first year turnover.
3. Competitors
3.1 Overview About the Competitor
The development of modern technology combined with influencer marketing has created a new
trend that has led to the creation and increase in the number of platforms connecting brands and
influencers. In the Vietnam market, there are many influencer marketing platforms mainly
targeting small and medium influencers, committed to connecting the right influencers, saving
resources thanks to technologies such as artificial intelligence (AI), big data, and smart
algorithms. In this section, the industry's standing out competitors will be selected to analyze and
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divide them into two groups are the direct and indirect competitors. The table below describes
some brief information about the competitors of KOLs HUB.
Hiip Asia Casting Asia Revu 7SAT
Year 2016 2018 2019 2019

established
Scope Vietnam, Singapore, 13 countries 7 countries Vietnam

Thailand, Indonesia
Platform Website, Application Website, Website, Website

Application Application
Influencer Micro, Nano Micro, Nano Nano Micro, nano

level target
Quantity of More than 10,000 More than 20,000 More than More than
influence 20,000 14,000
Fee charge
According to the post According to the According to According to
method
engagement the post the post
Table 7 - Summary competitor information
The table shows an overview of some information on popular platforms performing as a bridge
between brands and influencers in the Vietnam market today. In particular, Casting Asia and
Revu are multinational active names with several influencers of over 20,000; Hiip is more
modest with over 10,000. All have both websites, and applications except 7SAT have a website
only. Besides, Revu focuses only on Nano influencers (reviewer) and SMEs. Therefore, Revu
has less influential micro-influencers compared to other platforms. Besides that, Casting Asia
has a different form of fee charge method according to the engagement. Finally, 7SAT operates
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in Vietnam and has an influencer count of over 14,000. In short, the platforms have many
similarities. However, Revu is KOLs HUB's main rival because it has the same target segment.
In an indirect competition situation, also known as an alternative product, when two or more
businesses provide different products or services and compete in the same market to satisfy the
same customer needs. In this project, the KOLs HUB team pointed out that the marketing
agency and freelancer in influencer marketing became our indirect competitor for many reasons.
First, marketing agencies help clients implement and manage marketing strategies to achieve
their business goals, including influencer marketing. As a result, agencies are said to be indirect
competitors to the KOLs HUB platform. Besides, KOLs HUB also considers freelancers in the
influencer marketing segment to be an indirect competitor. The noun Freelancer calls individuals
working in this field to refer to those who work in a self-governing manner, not limited to rules,
environment, place and work time.
3.2 Comparison Matrix
Standards can be formulated to clarify processes, such as processes for information system
management, technology (Weiss & Cargill, 1992). In this complex business space,
standardization directly impacts business process success and positive indirect via relational
management facilities and improves contracts in a market (Kim Wuellenweber, Wolfgang
Koenig, Daniel Beimborn, Tim Weitzel, 2009). It allows defining clear and precise output
process goals that the service provider must meet. To easily recognize their pros and cons
according to each assessed factor's features and characteristics, it is advisable to follow a set of
criteria/standards to facilitate the decision-making process (Vizzlo, 2020). In the competitive
landscape, platform features and technology are the most significant factors affecting
competitive advantage. Therefore, the feature comparison chart below summarizes and compares
the features and technologies of KOLs HUB and competitors of KOLs HUB.
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Table 8 - Features comparison matrix between KOLs HUB and other platforms
After carefully researching the customer journey and based on survey data, KOLs HUB has
researched and developed many new features that align with customer expectations from
competitors' applications—offering customers the convenience and the best choice for their
expectations. It's embodied in platform features, pioneering new features like KOLs matching
by matching algorithms. Besides, the platform can automatically identify fraudulent and fake
influencers when analyzing in the influencer metrics, whose followers are an inorganic and
artificially inflated number. Moreover, useful features such as daily reporting, all operations
relevant campaign, influencer, and budget are managed by the system of KOLs HUB on the
platform make everything very easy convenient for customers. Finally, with the influencer data
warehouse depth, KOLs HUB will determine the right influencer for the campaign by using
machine learning technology. All of this has shown the sizable competitive advantage of KOLs
HUB over the competition.
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3.3 Blue ocean strategy canvas
W. Chan Kim and Renée Mauborgne developed the strategy canvas as a central diagnostic tool
and an action framework for getting clear on the current state of play and making your blue
ocean move. It graphically captures, in one simple picture, the current strategic landscape and
the future prospects for an organization.
The strategy canvas serves two purposes (King, 2017): to capture the current state of play in the
known market space, which allows users to clearly see the element that the enterprise competes
on and where the competition currently invests. Next, convince users to lead their focus from
competitors to alternatives and from customers to non-customers of the industry.
Figure 40 - Blue Ocean Strategy canvas
According to the authors of the book “Blue Ocean Strategy,” Kim and Mauborgne pointed out
that the pathway to successful innovation lies in the Four Actions Framework used to reconstruct
buyer value elements in crafting a new value curve or strategic profile. To break the trade-off
between differentiation and low cost in creating a new value curve, the framework poses four
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key questions, namely raise; reduce; eliminate; and create. The horizontal axis on the strategy
canvas captures the range of elements that an enterprise competes on and invests in, while the
vertical axis captures the offering level that buyers receive across all of these key competing
elements. Firstly, raise factors that are currently not meeting market desires. In this step, KOLs
HUB wants to raise higher factors than industry standards to bring better value to customers. For
example, the quality of influencer and brand development are two factors that are focused on
developing in KOLs HUB platform. Secondly, reduce factors below the current standard. In this
step, the platform looks to reduce features well below the industry standard to reduce the cost
required by the market but not to the degree they are currently offered at. For instance, the
company reduces the number of influencers well below the other products on the market because
KOLs HUB is focused on the quality of influencer and campaign content. Thirdly, KOLs HUB
creates factors that a few before offered in a different way. In this step, the authors say to operate
in a blue ocean, companies should look to create features that have never been offered before
adding value. KOLs HUB platform enhanced influencer relevance to the business customer's
product/service by adding natural language processing (NLP). This technology analyses the
content of a creator's posts and generates things like interests, industries, demographics, and
brand affinities in KOLs HUB profile function. As a result of this added value for the enterprise
that is SMEs. Finally, eliminate factors taken for granted. Because the influencer marketing
platform market has a high competition in Vietnam, which learns a lot from the successful
business overseas models, until now, there are no factors that are not necessary and do not
deliver much value.
4. SWOT
The SWOT analysis developed by Stacey, R. (1993), including strengths (S), weaknesses (W),
opportunities (O) and threats (T). KOLs HUB will use SWOT analysis to identify not only
internal possibilities or limitations but also factors or trends in the external environment to help
KOLs HUB formulate plans for the future and achieve objectives.
4.1 Strengths
Compared to other service providers, the KOLs HUB enhances user experience providing users
with a clear, convenient, transparent, and authentic view. Firstly, the KOLs HUB has indicators
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to calculate ROI and determine the effectiveness of influences more accurately and effectively.
Secondly, the platform also features review of products and services for SMEs, a feature
assessed by SMEs as necessary (survey from authors, 2020). Not only that, KOLs HUB uses
advanced machine learning technology to help SMEs find influencers easily, quickly, and
authentically. Giving customers what they need at the right time is an excellent support for the
company's long-term development. In addition, the KOLs HUB also has daily reports regularly
updated and easy to monitor and manage.
Besides, because KOLs HUB focuses on quality rather than the number of influencers, the
influencer selection process will be carefully done through 2 steps: using machine learning
technology and matching algorithms to search, then the staff will contact and authenticate again.
And to increase the quality of influencer marketing (through increased content quality, and
conversion rates), the software has rewarding performance metrics and performance ratings for
influencers. KOLs HUB blocks and checks fake influencer accounts, and commits that the
campaign metrics are real numbers. This will also help influencers improve their performance as
well as engage KOLs HUB more.
4.2 Weaknesses
Like every other start-up, KOLs HUB will also face difficulties when entering the market.
Everything is in the process and needs more time to improve in technology and develop user
data. Besides, the limited initial capital is also one of the difficulties that the company needs to
face.
4.3 Opportunities
In Vietnam, influencer marketing is a very potential market and has a very high growth rate (as
analyzed in market analysis). And in the future, more and more SMEs will choose influencer
marketing as a critical solution in their marketing campaigns. Meanwhile, there are very few
companies participating in this market in Vietnam, and few competitors do the same with KOLs
HUB. Especially in the niche where the company focuses, it is straightforward to develop and
quickly capture market share in the market, thus serving as a premise to compete with other
competitors in the common market.
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4.4 Threats
When successful in the niche market, KOLs HUB will have to face many direct competitors.
Competitors are also quite strong, so the KOLs HUB needs to take over this market as soon as
possible otherwise, the company market will shrink. Besides, there are threats from new
companies entering the market, so the KOLs HUB needs to keep updating the system, increasing
the user experience.
4.5 SWOT matrix table
SWOT MATRIX S – Strengths W – Weaknesses
S1: Customer experience (clear, W1: Newcomer in the market

convenient, transparent, and
W2: Initial capitals are limited
authentic).
S2: Focus on quality of

influencers rather than the number
of influencers.
O – Opportunities - Become a brand with the best - Position brand and develop brand
customer experience: simplicity, awareness by expanding
O1: Potential
convenience, transparency. relationships, attending many
market, high growth
conferences and events to build an
rate - Quickly dominate niche markets
image and become a reputable
by investing in marketing,
O2: Few partner.
advertising, promoting service
competitors
sales. - Look for partners for
O3: Easy to develop development and investment

- Invest in technology to improve
and dominate the sources from reputable
service quality and customer
niche market organizations
experience.
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T – Threats - Focus on improving product - Continuously improve and

quality, optimizing management diversify service: advanced
T1: Strong
systems and service processes to features within the platform.
opponent
create satisfaction for old
- Establish contingency plans for
T2: Future threats customers and attract new
the worst possible scenarios,
from new customers.
including operational management
companies
and financial planning.
Table 9 - SWOT matrix
5. Value proposition
SMEs pain
According to the authors' survey, SMEs are facing many problems when working with
influencers. The majority of respondents agree that influencers do not have a clear commitment
to the work. Also, the influencers' price is high and could not easily negotiate, not suitable for
SMEs. Besides, with the prospective survey subjects who search for influencers through a third
party, they also have difficulty in influencers not guaranteeing the content and progress.
Besides, there are difficulties when respondents work with a third party or with a connected
platform. Most of the respondents agreed that a high cost is one of their obstacles when deciding
to use influencer marketing. In the case of third-party users, one of their biggest hurdles is when
users and the third party have problems in communication and do not understand each other.
Also, the obstacle is ambiguous in management and non-transparent costs in the process.
Meanwhile, for the group using the connected platform, the unreliable results and ROI (return
on investment) indicators of the platform report is the biggest obstacle they decide to use.
Moreover, they also had trouble using the connected platforms that were too difficult to use.
The detailed figures are discussed on Chapter 2, section 2.3 Problems.
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Micro and Nano influencers pain

These tiers of influencers have under 100,000 followers. They are not popular and attractive to
brands, so they do not have many career opportunities. Due to the lowest number of followers
compared to other influencers, micro and Nano-influencers could not actively approach brands
even though they have much potential. Besides, when they are invited for influencer marketing
by brands, the relationships are not sustainable. These unsustainable relationships are caused by
their creative freedom being limited. Finally, all the influencers agreed that they would like to
see a consistent form of payment. They would also like brands to know that they are happy to
negotiate.
KOLs HUB valued elements
Figure 41 - The Elements of Value Pyramid
According to ( Eric Almquist, John Senior, and Nicolas Bloch, 2016), “In the right
combinations, the authors’ analysis shows, those elements will pay off in stronger customer
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loyalty, greater consumer willingness to try a particular brand, and sustained revenue growth.”
Understanding the pains of brands and influencers, KOLs HUB comes with some functional
elements to cure their pains. Our company believes that when we deliver customers with the
right combinations of valued elements, SMEs and Micro/Nano-influencers will be willing to use
our product and stay loyal.
KOLs HUB platform is created with the elements of quality, reduces effort, saves time, connects
and organizes. Our company is confident that the platform is quality with specific features and
quality authentic influencers. Reducing effort, saving time and organizing are all presented on
Matching feature and Management feature. The Matching feature will shorten the process of
finding the right influencers. Brands could definitely organize their influencer marketing
campaigns by the Management feature and Daily report feature. Additionally, SMEs could find
many connections with many quality influencers in various industries.
As the positioning “KOLs HUB is the platform for Micro and Nano-influencers”, we are
confident that KOLs HUB will be a good place where influencers can get access to much more
career opportunities, thus earning more money as they can connect more brands.
6. Positioning
The differentiation that makes our company outstanding among many competitive businesses is
that KOLs HUB has a specific target in the influencer marketing market: “KOLs HUB –
Reliable marketing solutions for SMEs” and “KOLs HUB – The platform for Micro and
Nano Influencers”.
New businesses are always having demand for developing brands, increasing awareness and
sales. However, the lack of marketing knowledge worries them a lot, and the cost of marketing is
also a huge problem. Understanding customers' psychology, KOLs HUB will provide small and
medium businesses with effective and affordable influencer marketing solutions. By allowing
customers to create an influencer marketing campaign based on business goals, KOLs Hub could
reach customer satisfaction. Additionally, customers could easily control their campaigns
through the daily report of the platform. Besides, the specific pricing of KOLs Hub based on
campaign effectiveness will reduce concerns about unknowledgeable in marketing.
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According to (7SAT, 2020), in the field of Vietnam influencer marketing, the budget brands
spent on nano and micro-influencers is up to 60%. It also shows that KOLs HUB has an
advantage because the target market is micro and nano influencers. KOLs HUB will be the place
for SMEs and micro and nano influencers to connect, cooperate and organize effectively.
CHAPTER 3: MANAGEMENT & MARKETING
1. Human resource management
1.1 Company Structure
According to F.W. Taylor, the author of scientific management, invented the organization's
concept according to each department's function. Based on a typical hierarchy, position, and job
requirements of each employee. The organization is divided into separate ministries such as
Marketing, Sales, and Human resources that operate individually to complete specific projects.
The functional organizational structure is one of the most common organizational structures used
to effectively run the business and bring in significant revenue.
For a start-up like the KOLs HUB, the company will keep the HR structure simple enough to
operate in limited resources at an early stage. It also places a requirement for each KOLs HUB
employee to do multiple tasks at the same time. The company members would include one CEO,
three client service executives, one marketing manager, two marketers, one technology
development manager, three developers, one accountant, one operation manager, one
HR/Admin. Besides, KOLs HUB also recruits trainees to work in the company. The Company
structure of KOLs HUB is depicted in the diagram below.
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Figure 42 - The Company structure of KOLs HUB
1.2 Roles and responsibilities
POSITION DESCRIPTION
CEO - Build a company by recruiting, selecting, training, and coaching

employees, consulting company directions, creating discipline
within the company. Responsible for setting strategy, goals for the
company, monitoring, and evaluating of the company's performance
- Orient the company, grow the company by making short and long-
term strategies in the company's plan sheet.
- Communicate vision, mission, overall direction to the company,
lead the development of the company's overall strategy.
- Holding the authority to administer documents, company
representatives communicate with shareholders, the government,
and the public
- Take responsibility for the growth of the company, evaluate the
results, the success that the company has achieved
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Developer - New features testing and evaluating.
- Website systems programming.
- Involved in monitoring, enhancing performance, user experience.
Technology
- During the product development phase, the development department
development
needs to work with the Engineer & Technology (DevTeam.Space)
manager
to produce the planned product results.
- Based on analytical data from the Marketing team, together with
the ICSC company design website interface and improve UX / UI.
- Responsible for transferring algorithmic requirements in building
core technology to DevTeam.Space, while participating in
monitoring, improving the performance and user experience of the
platform.
- Responsible for passing feedback problems on customer website
experience to developers to fix.
- Test and evaluate new features on a website.
- Participate with the developers in monitoring, improving user
performance, and experience.
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Marketing - The task of planning communications, buying and selling in the

manager company, and representing the company on sales
- Create advertising campaigns on the media, on the Website, on
social networking sites and applications (Facebook, Zalo, Instagram,
TikTok, ..) so that the brand can reach consumers.
- Responsible for managing, monitoring, and handling
communication issues, advertising-related issues.
- Learn about the market, research all sources of information in the
market, create values to satisfy customers, attract customers to
follow new trends.
- Demographic model analysis, volume analysis of data, transactions
with customers and partners
- Propose projects that the company can participate in, negotiate
costs, and budget allocations to match the company's finances.
- Research the business, conduct market surveys and do feasibility
studies for customers.
- Create a new market in accordance with the needs of customers,
have the power to promote the sales team to exceed the company's
targets.
- Assigning the task of building content and implementing marketing
campaigns for marketers.
- Support the CEO in building and maintaining relationships with
customers.
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Accountant - The mission of providing information to the Board of Directors of

the Company on financial matters, budget, and the company's
accounting reports.
- Financial prediction and risk analysis (analyze the financial
situation, give recommendations and advice to the Board of
Directors on internal budget management)
- Cash management, initialization of financial statements for
corporate assets. Manage salaries, bonuses, penalties, and
compensation of employees
- Manage tax legal procedures, handle financial transactions of KOLs
Hub.
Human - Manage the company's personnel, operate the main jobs.

Resources/ - Recruit employees in accordance with the job position and manage
Admin the interview and recruitment process.
- Introduce new employees to employees already working in the
company, train and evaluate the quality of employees in the
company.
- Keep track of daily activities in the company.
- Assist Operation Manager in human resource and work coordination
when required
Client Service - Have a duty to greet customers by greeting directly, by phone,

Executive answering questions, or directing to resolve questions for customers.
- Ensure communication with customers via channels (email, phone,
Walk-In Center). Ensure customers experience the highest level of
customer service.
- Through interaction, building the level of customer interest in the
company's products and services. Always catch all new information
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about the company's products, promotional campaigns, etc. To

provide quick and accurate information to customers.
- Responsible for data management of customers and corporate
partners.
- Support to provide information and consultants for newly joined
KOLs.
- Support to find information for the marketing team when needed
(especially when starting a company).
Operation - In charge of project management, proposing an advantageous

manager business strategy for the company to the Board of Directors.
- Research technology, finance, assumptions, and proposition goals to
build strategic plans for the company.
- Create the right plan, budget, measure results, allocate resources,
and track progress in order to accomplish company goals.
- Bring departments together by creating procurement, production,
advertising, surveying, technical service plans. Especially to
cooperate with employees in the company.
- Collaborate with customers, participate in community events, build
government partnerships, and collaborate with employees to
implement ethical business policies to build a corporate image.
- Maintain the quality of the company's service, set up, and comply
with the company's standards of the working process.
- Make sure the company operates in accordance with the laws of the
country.
- Assist the CEO in running the company (when the CEO is absent)
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Marketer - Tasked with creating contents for the organization as it relates to

advertising
- Tasked with creating content/buzz words that will help attract
traffics and Search Engine Optimization (SEO)
- Build content that attracts users on Facebook and the company's
website. Manage and create advertising campaigns on fan pages and
Facebook groups.
- Get the task of creating and executing advertising campaigns for
companies on the internet, from the marketing manager. Then, take
statistics and help leads.
- Support the customer care team when needed.
Table 10 - Roles and responsibilities employees of KOLs HUB
1.3 Recruitment
Based on Fernandez-Araoz, C., Groysberg, B, & Nohria, N. (2009), The definitive guide to
recruiting in good times and bad, KOLs HUB builds the recruitment process according to the
five steps below
Step 1: Anticipate the need (Forecasting)
After summarizing the departments' recruitment needs, the human resources department will
report to the CEO for approval. After being approved by the CEO, the recruitment request form
will be transferred to the recruitment department, and the human resources department will find
suitable candidates for the company. To find the right staff for the required position, the
company will have internal recruitment and external recruitment sources. (Internal recruitment
involves appointing existing staff - A known person is recruited. External recruitment involves
hiring staff from outside the organization).
Step 2: Specify the job (job analysis / job description / specifications)
The recruitment department meets with relevant departments to get information about
recruitment requirements to analyze job and job description for candidates. The company's work
will have each of the duties for its employees.
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The job description needs to be built according to the KSAO factor (knowledge, skills, attitude,
and other characteristics). It also considers the context of the job they are about to do so that
employees can be productive. In addition, job descriptions inform candidates about the work
they are about to do and the reward structure when they are highly effective at the job.
In the job description process, it is necessary to emphasize the competencies that the company is
waiting for in candidates. It is important to note the balance between requirements that need a
balance between Person-Job Fit vs. Person-Organization Fit (How the candidate fits the position
taken, the degree of similarity between the candidate's strengths and desires for People - Job Fit
for Person - Organization: revolving around ideas thought that every organization and individual
has a unique personality, the higher productivity, and satisfaction of the business the higher the
employee's job).
Step 3: Develop the pool (recruitment)
Since KOLs Hub has just been established, recruitment will also follow the criteria of recruiting
the right people with the right skills, right experience, and the right attitude at the right time.
To meet the set criteria, KOLs HUB will recruit mainly through social media sites such as
Facebook and LinkedIn. The social network will show how candidates present themselves
professionally. Make it easy for recruiters to identify: Is the candidate relevant to the company's
culture? Moreover, help recruiters learn about the qualifications of candidates or easily find the
inconsistent points. Because images and posts in social media posted by candidates will
represent their lifestyle and personal opinions. Based on recruiting on social media sites,
recruiters can feel the personality, professionalism, and creativity of candidates. These are based
on the Student Awareness of the Use of Social Media Screening by Prospective Employers
(Root. T & McKay, 2014). KOLs HUB will also post recruitment information on popular
recruitment sites in Vietnam, such as timviec24, Tim CV, top CV.
Step 4: Assess the candidates (selection)
The HR department should carry out the recruitment process through appropriate methods (job
application, written test, interview, personality test, activity simulation) to select and find
qualified candidates for the company. The related department must communicate with
candidates through interviews, taking tests on candidates' psychology. All of these steps for
selecting candidates must be taken from randomly selected and initially selected candidates.
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Step 5: Close the deal (selection)
After recruiting employees, the HR department should inform candidates about the company's
incentives not only in terms of salary but also incentives when candidates achieve high
efficiency in their work (the good performance will earn more money, get promotion
opportunities, material incentives). As well as describe clearly to candidates about the job,
disseminate clear terms between the company and the employees.
1.4 Training
1.4.1 Training and development strategy in the company
An important element of HRM strategy is the development and development of processes within
the organization to increase productivity and engage each employee with the company's strategic
goals. Once employees understand the company's priorities, they can use their skills to
contribute and advance its strategic goals. According to insights of learner from neuroscience,
some key insights are suggested by Paine (2015) that: learning is more effective when learners
are emotionally engaged, committed and enthusiastic; exercise is useful between learning
sessions; stimulating online and physical environments are conducive to learning; we can learn
at any stage in our life; the brain needs time to reflect to embed learning; the brain tends to
'freeze' in reaction to fear about, for instance, change.
For the staff training process to be effective and have a significant change in each individual's
development (a lasting and positive change). The strategy of KOLs HUB will have moved from
identifying training needs to identifying learning needs. It means that the development will come
from the learner's needs and be appropriate for them, rather than by the trainer seeking to satisfy
that need. Thus, in this approach, learners will have the impulse to work, commit to the
organization, and have expanded roles. Thereby improving employee performance and overall
corporate performance. (Cappelli, 2008)
To train and develop employees, managers can combine the use of tools to close the current
capacity gap of employees and required competencies such as In-house schemes, coaching;
mentoring, 360-degree appraisal, and project teamwork; cross-organization, and interdisciplinary
tasks.
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Figure 43 - Tools to close the current capacity gap of employees
In addition, succession development planning is essential to prepare for future challenges. Career
planning determines the path and activity for each employee as they rotate positions in the
company. Employees' ability to work is at the heart of managing productivity.
1.4.2 Training and development process
There are four steps taken to managing talent under this strategy. First of all, "Talent spotting,"
managers must get to know their people, observing what they are good at and when they have
outgrown their current job. Then opening up career conversations to surface aspirations and
match them to organizational needs. Followed by facilitating the development and helping the
individual access relevant work experience and formal development opportunities. Finally,
collaborating with other managers to spot career opportunities. Specific implementation plans
for these four roles will be discussed in the following section.
Step 1: Determining training needs
With new employees into the company, they will have a meeting to welcome new employees
and provide necessary information about the organization, culture, vision of the company, and
the work they need to do. The purpose of this orientation session is to: reduce start-up costs,
reduce turnover, reduce anxiety, and save time for both employees and the organization.
To start the training process, the direct manager will learn about the employees' capabilities and
see what they are good at. At what point do they need improvement? In parallel, the manager
will also synthesize the skills and knowledge requirements that employees need to complete
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their jobs in the best way. Then, management will work with HR managers to write down the
appropriate training strategy.
Step 2: Set clear objectives
In this step, the manager should sit down with the employee and frankly discuss the criteria of
the job's skills to be done, what needs to change, and the advantages and disadvantages of that
employee. People are more likely to engage in any improvement plan if they are allowed to
share their views. Managers should listen to employee's ideas in order to take their performance
to match job requirements. To involve employees in improvement plans, the company should
express goodwill and support. Harmful solutions should not be applied in this step.
A clear set of goals should be at the center of any Performance Improvement Plan. Employees
need to be clear about exactly what you want them to do differently, when, and how this will be
considered or measured. Make sure every setting goal is realistic and is accomplished within the
appropriate time frame.
Step 3: Training and developing
Lack of appropriate skills is usually the root of poor performance. Sometimes employees are
charged the tasks they are not properly equipped to handle. Alternatively, maybe their roles have
changed, and they are currently being asked to handle new jobs or operate in areas they are
unfamiliar with. In this step, employees will be able to participate in training courses prepared
by the company to help them improve working specialist skills. In some cases, the company
considers appointing a mentor who can teach employees the best way to handle tasks or
situations. If the problems are not the skills and employees, demand to be moved to other
departments due to their specialist skills are not suitable for the present position.
Step 4: Review progress regularly and hold senior leaders to be accountable
Set a regular date when managers and staff can sit down to review and record the process. At
this stage, record-keeping is essential. There is a clear trace of what has been discussed and
agreed upon, which will be very important. Due to the clear discussion, the manager could easily
decide if the work performance is not satisfactory. It gives an individual a goal to work towards
and gives the manager the opportunity to ensure that the agreement has actually been signed and
everything is on track.
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Even the most obvious action plans will fail if managers are not forced to implement them.
Senior leaders should keep their managers accountable for building strong talent teams. Taking
actions to improve or eliminate poor performers should be an obvious part of that. First, in a
very formal sense, the CEO and a senior human resources executive should regularly follow up
with each of the unit leaders to check on the implementation of any action plans and help them
overcome any barriers. Of course, managers who are being asked to support their poor
performers should receive full support from their human resources and legal departments.
1.5 Compensation & Benefits
Compensation is an essential company for employees. Compensation and bonuses are significant
because it is how the company shows responsibility to the employee, ensuring that they have an
excellent environment to work not to be afraid to be mistreated. But to know the balance because
money is an essential factor determining the survival of a company.
Therefore, KOLs Hub's orientation to build compensation regimes is: Positive enough to attract
the best people on the job to work with the company; Competitive enough to motivate people to
work hard, achieve many good results, and stay with the organization. To improve morale,
motivation, and satisfaction among employees, improve performance, and consider this as the
company's bottom line. Therefore, the company has the following recognition methods.
Cash rewards include base salary and bonus, financial incentives. Intangible rewards include an
employee's career development and an opportunity for an employee to rise to a career; Give
more incentives to social life; Award certificates of merit, and praise individuals with high
achievements when working at the company.
The following types of bonus policies are available.
● Performance-related pay at the individual level: depending on the employee's position

and contribution, the company will have a bonus policy: Piece-rate and sales
commissions; Or bonus, services, holidays; Or merit pay; etc.
● Performance-related pay at the team level: monetary rewards are based on performance
measured at the group or team level.
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● Performance-related pay at the organizational level: policies for employees who have
made a major contribution or essential positions in the company KOLs HUB have
incentives: gainsharing, profit sharing, and stock ownership.
The table below shows the company's structure, number of employees and compensation and
remuneration for the past five years. In which, the salary of each position will increase by 10%
per year.
Compensation & Benefits
Time Bonus/ Salary/month

Position Quantity
Commissions (VND)
Human Resource 1 7,000,000
CEO* 1 10,000,000
Operation Manager* 1 7,000,000
Client Service Executive 4 2% Revenue 5,500,000

Phase one
Marketing Manager* 1 7,000,000
(from year
1 to 2) Marketer 2 6,000,000
Accountant* 1 6,000,000
Technology Development Manager* 1 9,000,000
Developer 3 24,000,000
Total 15 104,000,000
Human Resource 1 9,100,000
CEO* 1 13,000,000
Phase two Operation manager* 1 9,100,000

(from
Client Service Executive 6 2% Revenue 7,150,000
Year 3 to
year 5) Marketing Manager* 1 9,100,000
Marketer 2 7,800,000
Accountant* 1 7,800,000
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Technology Development Manager* 1 11,700,000
Developer 4 10,400,000
Total 18 159,900,000
Table 11 - the company's structure, number of employees and compensation and remuneration for the
past five years
(*) Key positions in the company - five co-founders
1.6 Performance appraisal
KOLs HUB will use 360-degree feedback to evaluate employees' performance to have a look
balanced and comprehensive. 360-degree feedback is a goal-focused solution for employees'
skills and contributions. 360-degree feedback includes upward feedback, downward feedback,
peer feedback, and self-feedback. Thus it will be performed by supervisors, colleagues,
employees, team members, customers, and others with relevant information to evaluate the
employee. It will be done through the following listed factors:
1. The criteria: Performance evaluation will be deployed flexibly, but fair, transparent,
developmental, and systematic performance evaluation is needed.
2. The rater: The employee rating would be the team leader or the staff's direct management
(people closest to the employee).
3. Testing: The feedback questionnaire will be designed and developed for specific purposes,
and organizational strategies and goals should be considered throughout the process.
4. Frequency: At end of each project, or quarterly for longer projects, but not too much not to be
overburdened by the leaders.
5. Transparency: Comments and reviews for employees will be shared as much as possible but
will be decided based on how much to tell employees.
6. Rewards: The reward of each employee will be linked to their performance.
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2. Operation
2.1 Business model
With the business model, the authors will show an overview of how everything works inside the
organization. KOLs HUB business model includes 3 objects: Brand, influencer and KOLs HUB,
with 3 colors: yellow, red and black. Start with step one, Influencers from our community, will
become partners with KOLs HUB. After that, KOLs HUB will confirm the information and
complete profile on the system. In step 3, brand will describe the request, and search for
influencers on the system. Then, the request will be sent to the influencer through the system, for
them to accept. In this connection step, chat box or KOLs HUB staff will advise the brand and
close the deal. Next, step 7, brand will pay before the campaign starts. When the campaign will
be created, the influencer will create the required content. During the campaign, the system will
update data. Then, analyze, measure, and synthesize into a daily report for Brand. After the
campaign ends, the influencer will receive their money. Below is a simple diagram of the KOLs
HUB's business model.
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Figure 44 - KOLs HUB's business model
2.2 Revenue generating methods
KOLs HUB revenue comes from KOLs finding packages and KOLs matching – commission.
The company will sell the KOLs finding package at 50,000 VND / month. The platform will
charge 30% of the transaction's total budget (15% from business and 15% from an influencer)
through the website. To generate revenue, KOLs HUB must collect an extensive database of
users, including businesses and influencers, stimulating demand for influencer marketing for
SMEs and building an influencer community for KOLs HUB.
In the future, KOLs HUB may also offer other services such as a reviewer finding package to
create new revenue resources. However, in this project, the authors' team focus on the two
resources – KOLs finding and KOLs matching to simplify the planning and analysis.
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2.3 Key activities
The first year of operation of the company was a year with many difficulties and challenges.
Now everything is created from zero; the human and financial resources of the company are
quite limited. It requires the company to have organizational flexibility, and to coordinate
smoothly at work, to be able to fulfill the set milestones. Based on these requirements, the KOLs
HUB has set out specific responsibilities and tasks for each position in the company, described
in detail in chapter 3, 1.2 - Roles and responsibilities. Moreover, the main activities of the
company at the beginning of the year are summarized in the table below:
Official Activate Loyalty and

Marketing phases Pre-launch
launch consideration Advocacy
Month 1 2 3 4 5 6 7 8 9 10 11 12
Technology development team & ICSC, DevTeam.Space (Out Sources) (*)
Style Guide
Web mockup
Front-end
Web Front-End
UI -UX improvement
Information Architecture
Web workflows
Back-End Technology
APIs
Back-end
Code review
Update data into the

system
Applying machine
learning technology
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Build service demo

Testing
Testing & QA
Release
Improved machine learning algorithms
MKT team (**)
Web review survey

(gathering insight)
Web performance review

survey
Research
New features research

survey
Survey analysis
Facebook
Content
development
Website
Pre-launch
Launching event
Seminar
End-year Party
Support KOLs
Customer care consultant
HR/Amind
Internal recruitment
Employee performance appraisal
Accountant
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Annual estimated budget
Quarterly estimated budget
Quarterly finalize budget
Annual finalize budget
Management team
Legal registration
Founding the company
Partnership
Track major campaigns on the platform
Table 12 - Key Activities
(*) Described in more detail in product development (chapter 1).
(**)Described in more detail in the marketing plan (chapter 3).
2.4 Key partners
KOLs HUB is a platform that connects businesses with influencers and has a few competitors in
the influencer marketing market. In order to be able to grow steadily in the industry, KOLs HUB
wants to cooperate with partners in areas such as website platform development, AI platforms,
Nano and Micro-influencers, and banking to bring the best user experience. The following is an
analysis of the strategic partners of KOLs HUB, as well as outlined activities to build
relationships with their partners.
2.4.1 Technology partners

KOLs HUB chose the Google AI platform as the main environment to build our platform. The
Google cloud AI platform is a platform for building, deploying, and managing machine learning
models. The Google cloud AI platform has many elements suitable for the development of
KOLs HUB. First, Google Cloud is a leader in cloud data analytics platform in the Asia Pacific.
Second, Google cloud has many outstanding features such as keeping KOLs HUB's data safe
and compliant; scale with open, flexible technology; all can be built on the same infrastructure
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that Google uses. Third, since all data building and updating will be done in the cloud, it will be
easy to smoothly and quickly monitor and model machine learning.
Besides, KOLs HUB decided to co-operate with two companies ICSC and DevTeam.Space.
First, ICSC is a company whose web application development services are comprehensive and
robust. From e-commerce portal, CMS, ERP solutions to Chatbots, custom applications, etc.
Second, DevTeam.Space is a company that hires machine learning experts to develop core
technology for KOLs HUB. With 62 Professional Developer Groups, over 1200 top developers;
Over 100+ businesses have trusted and used DevTeam.Space in the past 3 years. Therefore,
KOLs HUB trusts DevTeam.Space's service.
2.4.2 KOLs partners
As a connecting influencers platform, how to attract quality Nano and Micro-Influencers and
then build a strong relationship with them is one of the significant concerns of KOLs HUB.
Therefore, the selection and preferential policies for influencers have been focused on by KOLs
HUB right from the beginning of the company's establishment. KOLs HUB does advertising
collaboratively through social networks and to attract influencers. Besides, KOLs HUB also
regularly invites speakers to organize content creation sharing seminars for influencers. Besides,
the company also has rewards for outstanding KOLs, such as commission sharing, awarding the
best influencer of the year, and top 10 excellent influencers. KOLs HUB also has an end-year
party for KOLs.
2.4.3 Payment partners
KOLs HUB's business is online, so choosing the right payment methods is essential. There are
different categories to choose from, certain types of which are optimized to maximize revenue
opportunities. KOLs HUB has two main payment methods. The first is bank transfer, second is a
credit card, including Visa and MasterCard. Bank transfer ensures the safety of money
transactions for both businesses and influencers. Each transaction needs to be validated and pre-
approved with the customer's online banking credentials before the purchase can occur
(Paymentwall, 2016). Next, credit cards bring convenience to SMEs for payment (Alexandria
White, 2020), the main customers of KOLs HUB. After finishing the assigned campaign and
checking the results, KOLs HUB will pay influencers by bank transfer. Moreover, for quick
payment and data security, the gateway payment is also deployed. A payment gateway is a
technology used by merchants to accept debit or credit card purchases from customers. The term
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includes not only the physical card-reading devices seen in brick-and-mortar retail shops but also
the payment processing portals found in online stores (Jason Fernando, 2020)
2.5 Member Policy and Procedures
2.5.1 Policies applied for brands
Brands' goods, products and services must not involve illegal or suspected illegal according to
Article 7 of the Law on Advertising 2012. Also, instruction that is against public moral or is
against good common business conduct are banned such as:
· Goods banned from trading and services banned from provision by law.
· Tobacco, cigar, and all smoke-related goods.
· Liquors of an alcoholic content of 150 or higher.
· Breastmilk substitutes for children under 24 months, dietary supplements for children
under 6 months, feeding bottles and pacifiers.
· Prescription medicines; non-prescription medicines which are recommended by

competent state agencies for restricted use or use under physician supervision.
· Goods and products of obscene nature.
· Hunting rifles and bullets, sports weapons and violence-inciting products and goods.
· Narcotics and narcotics related products.
· Firearms and all weaponry related products.
· Reserved animals or wildlife products including but not limited to reserved animals
specimens, shark fins, and ivory.
· Medical drugs, devices including but not limited to prescription drugs, pacemakers,
and surgical instruments.
· Stolen goods or property.
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· Prostitution or human trafficking.
· Counterfeit/fake goods or adulterated goods.
· Gambling (For countries that hire-to-promote or public promotion of gambling is

illegal).
· Pornography.
· Software, computer programs, songs, movies, content of which the merchant does not
own the copyright or does not duly have the right to distribute/promote/sell.
· Providing instructions for influencers to perform illegal actions.
2.5.2 Policies applied for influencers
In order to join KOLs HUB platform, influencers must meet the following criteria. First of all,
their social media profiles must be authentic. In the case of fan pages, the registers must be the
official manager of the page. It is noticeable that the platform has tools to check the authenticity
of these social accounts to recognize fake influencers. Influencers must have over 70% of
followers that are “authenticated”, not inactive nor virtual accounts. Besides, they must have no
posts with "unknown" interactions which are considered to be unusually high or come from
inactive or virtual accounts. In the final step, the Influencer data is processed and reviewed by
KOLs HUB staff to ensure the elimination of other influencer fraud such as seeding profiles who
use repeated accounts in the same interactive content. The team also re-verify the metrics that
the system automatically performed to increase the accuracy rate. Finally, social networking
sites must have positive content and not be contrary to Vietnamese customs and law. Influencers
who qualify all of the above requirements will become members of KOLs HUB community.
Their profiles including essential indicators will be updated on the platform.
3. Marketing plan
3.1 Marketing mix: 4Ps
3.1.1 Product
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As in the words of Christopher Lovelock and Jochen Wirtz (2018), the meaning of service is: "A
service product comprises all elements of service performance, both tangible and intangible, that
create value for customers." The service concept design is the integration of core products,
supplementary elements, and delivery process.
The core product is the focal component that benefits customers in their fundamental problem-
solving. KOLs HUB’s core product is the solution to help brands find the right influencers and
streamline their influencer marketing. Therefore, a machine learning-powered tool is researched
and developed to apply in the matching of brands and influencers' process. Furthermore, this
technology supports building effective campaign management tools to cut downtime and cost for
marketers, as mentioned in chapter number one.
In order to augment the core product, facilitating its use, and enhancing its value and appeal,
supplementary elements are developed. There are two types of supplementary services:
facilitating and enhancing. KOLs HUB's facilitating services include information and payment
that integrate order taking, billing, and payment to ensure transparency, fast, and convenience.
The team focuses on enhancing services including consultation and exceptions. In detail,
customer advice and personal counseling are provided through the chat bot. KOLs HUB gives
customers guarantees of campaign performance. In the case that it is not as the commitment,
refund, and compensation will be conducted.
Finally, delivery processes are the ones used to deliver the core product and additional elements.
This process is wholly delivered through the KOLs HUB website. The engineering team and
customer service staff work together to bring the best service to customers.
3.1.2 Price
Blair Enns, published author and CEO of Win Without Pitching, said that pricing should be
based on the value that business can deliver to customers rather than on inputs and outputs. Due
to Blair Enns statement, KOLs HUB decided to set the service price based on the value that
platform delivers to users. KOLs HUB have two different service packages for customers to
choose from; the KOLs finding package will give brands the freedom to post campaigns and
recruit influencers in limited numbers and without interference from the platform. KOLs HUB
will support the KOLs matching service pack with features like automatically suggesting the
suitable influencers by technology and submitting a daily report. KOLs HUB believes that
delivering core value to customers will satisfy the most demanding customers and bring better
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profit margins for the company. After looking at competitors in the market, determining the
direction of the company, based in part on cost and most importantly value created to customers,
KOLs HUB sets prices for services of the business are as follows:
KOLs HUB Price Subject to charge Time

service
KOLs finding 50.000 VND Brands 1 month
KOLs matching 30% from brands and Brands: 15% _

- commission influencers
Influencers: 15%
Table 13 - Pricing table for KOLs HUB services
3.1.3 Place
According to the 7 P's of Online Marketing Mix - Engaio Digital, a place for an online product
should be most convenient for users to access. As an online business, a website will be necessary
for KOLs HUB to serve the platforms' target audience. According to the target segmentation that
KOLs HUB has analyzed, the main audience of KOLs HUB will be small-medium businesses
and Micro and Nano influencers. Therefore, implementing a website so businesses and
influencers can access, log-in, post their information, and control marketing campaigns by the
daily report. By choosing a suitable place, KOLs HUB will quickly collect and update brands
and influencers' information to improve website service.
3.1.4 Promotion
According to Brian Tracy, chairman and CEO of Brian Tracy International, Speaker and Author
(2004), "the third habit in marketing and sales is to think in terms of promotion all the time.
Promotion includes all the ways you tell your customers about your products or services and
how you then market and sell to them".
There are currently four popular promotion tools. After analyzing clearly, the company found
suitable methods for use: sales promotion, direct marketing, personal selling, and public
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relations. For each development stage, KOLs HUB will apply different promotion tools to
achieve the best efficiency and cost savings.
Sales promotion: In the first phase, KOLs HUB will have an attractive sales promotion program
to attract enterprises and stimulate influencers to join the KOLs HUB platform.
The brand will have a free trial of KOLs finding packages by vouchers in the early stages of
product release to build customer confidence in a new platform such as KOLs HUB. Moreover,
in phase 4, there will be incentives for the cost of using the venue for the brand.
For influencers, there will be vouchers and promotional conditions for the first time to motivate
participation in the KOLs HUB platform.
Public relations: One of the useful tools for building the right brand image through real stories
from the business itself, the product/service, and the customer experience. From there, establish
relationships and interact with customers. Recognizing PR's importance through real cases,
KOLs HUB will focus on using multi-strategy suitable for customers.
According to The Millennial Consumer study published in January of 2015, "58 percent of Gen
Y consumers expect brands to publish content online before making a purchase, and 43 percent
rank authenticity as more important than the content itself". First, the evaluation team will
introduce the KOLs HUB platform, positively mentioning the establishment context, the
inspiration, and superior capabilities of the product on selected online newspapers and
magazines: Brands Vietnam, VN Express, and Zing. The three main social networks of KOLs
HUB are Facebook, YouTube, Instagram (Linkedin for the brand, TikTok depends on the
ongoing context if necessary). Next, KOLs HUB will invite the influencer to talk about the
product (introduction, use, rating, and propaganda); in this step, we will collaborate with the
social networking sites of KOLs HUB and influencer. Besides, influencers who have joined the
platform to agree to promote will have gifts given.
Moreover, KOLs Hub will establish communities on social networks, Facebook, Instagram, and
YouTube to build relationships, maintain, and interact with customers. Through fan-page
activities to provide continuous values such as incentives, selected knowledge, quality resources.
These will engage and increase brand loyalty. Finally, in phase 2, there will be a press
conference to launch the platform, a series of seminars on "Nghề influencer" - chia sẻ cách sáng
tạo content. In phase 4, there will be events to thank the influencers of KOLs HUB platform.
Direct marketing: In the first stage, when KOLs HUB has just launched in the market, direct
marketing will be one of the most effective tools to reach customers directly, invite them to test
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products, and become members of KOLs HUB platform. The strategies to convey messages
directly to customers will be email marketing, telemarketing, and social marketing. Customers
will be cared for and supported via email, telephone, chatbox, and social networking site of
KOLs HUB. KOLs HUB also runs ads directly targeting target customers through paid ads
channels and utilizes free community resources on social networks.
Personal selling: Since KOLs HUB is a B2B platform, personal selling is a tool that needs to be
used a lot in phase 2. The CEO & marketing manager of KOLs HUB will participate in industry
conferences (especially those in the target segment) such as joining business communities such
as Hội Doanh nhân trẻ Gia Định. Besides, KOLs HUB will also participate in trade events and
exhibitions held in Hanoi and Ho Chi Minh. Moreover, personal selling is combined with direct
marketing to increase efficiency and save time and resources.
3.2 Media marketing plan
3.2.1 General objectives
KOLs HUB marketing plan will be divided into four phases: pre-launch, official launch, activate
consideration and customer loyalty; and be planned for the first year. The general objectives of
KOLs HUB are established and expand KOLs HUB community, brand awareness, generate
website visitors and convert prospective customers into customers. The specific marketing
activities will be clarified in each phase.
KOLs HUB objectives will be described in the table below:
Phase 1 Phase 2 Phase 3 Phase 4 Total influencers

KOLs HUB 4,000 500 800 _ 5,300
community
Total website
visitors
Website visitors 100 1,000 6,600 3,300 11,000
Total impressions
Impressions _ 500,000 1,008,696 808,696 2,317,392
Total budget
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Budget 128,795,077 179,503,200 412,313,792 279,376,000 999,988,069

Table 14 - The KOLs HUB goals and budget in each stage
3.2.2 General timeline
KOLs HUB marketing plan will spread over one year. Divided into 4 phases that are pre-launch,
official launch, activate consideration, loyalty and advocacy. Each phase will have marketing
plans for both brands and influencers, with key messages, key activities and specific objectives.
Figure 45 - General timeline, Key messages, Key activities of KOLs HUB
3.2.3 Action plan
3.2.3.1 Phase 1: Pre-launch
The pre-launch phase is divided into two parts based on marketing target audiences: SMEs and
influencers.
Firstly, to SMEs audiences, KOLs HUB will launch a landing page to collect website visitors'
data. A brief video marketing will be located on KOLs HUB Facebook page and landing page to
introduce the platform features. The key message is "KOLs HUB - Nền tảng cung cấp giải pháp
marketing hiệu quả cho SMEs." KOLs HUB will run paid ads video on the Facebook fan page to
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attract the customer target segment and get website visitors data. Audiences may click on the
attachment link to lead to KOLs HUB landing page. KOLs HUB objective is collecting 100
leads from potential website visitors. After collecting potential customer data, the KOLs HUB
service team will send email marketing and an invitation to the platform launching event.
Secondly, to KOLs audiences, KOLs HUB will create a community fan page on Facebook to
post the platform information such as influencers' benefits when participating in the KOLs HUB
community. KOLs HUB will attract KOLs partners to join the KOLs HUB community through
Facebook paid ads. The key message is "Tạo thêm thu nhập chỉ với 1000 followers". KOLs
partner may click on the attachment link to lead to KOLs HUB landing page and fill the
information form to receive cooperation email from KOLs HUB. The objective is establishing a
KOLs HUB community with 4000 influencers. Moreover, KOLs HUB will invite macro-
influencers to cooperate, participate and refer to the influencer community. The KPIs table of
phase 1 is attached in the appendix 3: Detailed KPIs.
Categories Description
Time 01/01/2021 - 30/04/2021 (4 months)
Brands Influencers
Objective ● Collect 100 leads from the ● Establish a KOLs community with
landing page. 4000 influencers.
● Invite 4000 KOLs partners through
email and telemarketing.
Key ● “KOLs HUB - Nền tảng cung ● “Tạo thêm thu nhập chỉ với 1000
messages cấp giải pháp marketing hiệu followers.”
quả cho SMEs.”
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Content ● Introduction of KOLs HUB ● Introduction of the benefits when

idea features to potential customers participating in the KOLs HUB
through brief video on the community.
landing page.
Channels ● Facebook, Landing page, ● Facebook, Landing page, Email,

Email, Telemarketing Telemarketing
Key ● Establish KOLs HUB ● Establish KOLs HUB community

activities Facebook fan page and public fan page on Facebook.
new information of the ● Run paid ads to attract influencers.
platform. ● Collect influencers' data.
● Run paid ads to get website ● Email marketing and telemarketing
visitors. to invite influencers to join KOLs
HUB community.
● Invite macro-influencers to
participate and referral KOLs HUB
community.
Table 15 - The brief version of the phase 1
3.2.3.2 Phase 2: Official launch
After finishing phase one, KOLs HUB will move to phase two with the objective that includes
increasing brand awareness, stimulating customer interest and expanding KOLs HUB influencer
community.
As a startup, not many people know about a new platform like KOLs HUB. Therefore, phase
two is the time for marketing and raising brand awareness. Building content through KOLs HUB
channels is necessary. KOLs HUB will post content about SMEs' problems when running
influencer marketing campaigns: unknowledgeable about marketing, high cost, and inability to
estimate efficiency. Next, the values that KOLs HUB brings to customers, such as helping
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customers find suitable influencers for marketing campaigns based on business objectives such
as awareness, engagement or sales, will be revealed on the platform channels. The platform will
be officially launched at the event with the key messages being "KOLs HUB – Reliable
marketing solutions for SMEs," "KOLs HUB - The platform for Nano and Micro-Influencers.
KOLs HUB wants to build brand image in customer mindset. KOLs Finding vouchers will be
given at the launching event to stimulate customer interest. Also, KOLs HUB will cooperate
with VnExpress, ZingVn and Brands Vietnam to start PR activities. For online activities, KOLs
HUB will run Google paid search, and Facebook paid ads to get website visitors. The objective
is 1000 website visitors in phase two. Moreover, KOLs HUB will run Facebook, Google and
YouTube display ads to raise brand awareness. The objective of brand awareness in phase two is
500,000 impressions.
The platform will continue to share the benefits of joining the KOLs HUB community to expand
the KOLs HUB community. KOLs HUB will invite macro influencers to introduce the platform
to the influential community. The objective of expanding the community is to increase 500
influencers. KPI for all activities will be presented in an excel file. The KPIs table of phase two
is attached in the appendix. The brief version of phase two might look like the table below:
Time 1/5/2021 - 31/5/2021 (1 month)
Brands Influencers
● Building brand image and

Objective ● Expand KOLs HUB
increasing brand awareness
community by 500 members.
● Stimulate customer interest
● Generate 1000 website visitors.
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Key ● KOLs HUB - Reliable marketing ● KOLs HUB - The platform for
messages solutions for SMEs Nano and Micro Influencers
● Delivering the messages of KOLs

Content ● Inviting macro influencers to
HUB to customers.
idea participate and talk about
● Confirmed the quality of the KOLs
KOLs HUB.
HUB community
Channels ● Facebook, Google, Youtube ● Facebook
● Build content through KOLs

Key ● Build content through KOLs HUB
HUB channels: Write about
activities channels: Write about the problems
the benefits of joining the
that SMEs concern
KOLs HUB community.
● Write about the values that KOLs
● Macro influencers referred
HUB brings to customers
KOLs HUB platform to others
● Run Paid ads on Google and
nano and micro-influencers.
Facebook
● Run Display ads on Youtube and
Google
● Hold event: launching KOLs HUB
platform, introducing features of
KOLs HUB, the company team,
mission and vision of the platform.
Venue: Unique Premium Outlets,

Tan Binh District
Time: 9 am, 15 May 2021
Table 16 - The brief version of phase 2
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3.2.3.3 Phase 3: Activate consideration
Once customers become aware of KOLs HUB services, understand their challenges and commit
to address it, they will search for different solutions and assess their options to know if it’ll fit
into their budget and their company situations. Inbound marketing strategies that draw customers
to KOLs HUB website, great content and social media are all very effective during this phase of
the buying cycle. That is the reason why paid ads on Facebook with the objective of lead
generation and website visitors are deployed.
As Bill Gates said "Content is king", but it will prompt awareness effectively if it is combined
with other organic resources such as search engine optimization, organic social from LinkedIn,
Facebook profiles, and outreach. The content on this phase will be more product-centric
explaining the benefits, unique features and results. It also differentiates KOLs HUB brand from
the competitors by emphasizing influencer fraud detection power. These content will be in the
form of influencer marketing report, survey, case study, and online webinars. Marketing team
delivers these content through email, blog, fan page and other online social groups on Facebook
and Linkedin. These groups include Cộng đồng Data-Driven Marketing & Communication,
UAN Marketing, We’re Marketer, Nhóm Góc Nhìn Marketing, IMA - Influencer / KOLs
Marketing Agency, Cộng đồng Digital Marketing Việt Nam, Cộng đồng Influencer Marketing
lớn nhất Việt Nam. On the other hand, conversion rate optimization, competitor backlink report,
crawls error troubleshooting and fixing are the SEO tasks that are in charge of KOLs HUB
marketing team during the period. Furthermore, the demonstration of how KOLs HUB service
solving brand's challenge helps bring B2B leads closer to conversion.
As KOLs HUB target buyers are SMEs, traditional marketing such as personal selling is not less
important. The team plans to attend several marketing events and seminars to expand the
network, reach and introduce service to the audience to bring back leads. These events are
Vietnam Marketing Summit, CEO-CMO Vietnam Summit, Innovfest Outbound, Vietnam
Marketing Association, Vietnam Online Marketing Forum 2021, Digivietnam conference 2021,
Vietnam Young Lions 2021-2022, HCMC Digital Marketing Meetup, MarTech Conference &
Expo 2021, Agency of The Year 2021, and other events and seminars hosted by AIM Academy.
Behind social media and the company website and blog, email is the third most popular
distribution channel at 87 percent (Content Marketing Institute, 2019). 72% of B2B buyers will
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share useful content via email (Top B2B statistics every sales and marketing pro should know in
2020, 2020). Another statistic shows that 49% of consumers said that they would like to receive
promotional emails from their favorite brands on a weekly basis (Statista, 2017). KOLs HUB
leverages email marketing to promote services, to keep customers informed, and to customize
marketing messages accordingly. More important, it is used to reach out to potential customers
who leave contacts on KOLs HUB other media. According to The Annuitas Group, there are
47% more purchases from sales-nurtured leads than non-nurtured leads proving that it needs
more effort to close the deal. (The Annuitas Group). Once a prospect becomes a lead, email
marketing and telemarketing are the best ways for pushing them further along and turning them
into a customer. It is noticeable that all leads are collected from the landing pages, paid search
ads, paid ads, personal selling activities, and organic leads.
Regarding influencer attracting objectives, the team deploys the referral program. Through that,
every influencer that draws two more peers to the platform will get a 50% discount on the next
campaign. Moreover, KOLs HUB hosts a talk show every two months with an estimated 180
attendances. The first one is "Nghề Influencer #1: HannahOlala- chặng đường 15 năm beauty
blogger" holding on June 10, 2021, at Unique Premium Outlets in district Tan Binh. The second
talk show is "Nghề Influencer #2: Lê Hà Trúc- Tôi nghĩ mình là KOL bị ghét nhất Việt Nam"
holding on Augút 10, 2021, at the same place as the first talk show. In the talk show, the
speecher will share her career story, inspiration, obstacles, and how to overcome it. The audience
can give questions to the VIP guest at the Q&A stage. A mini-game to bonding all the
attendance will end the show successfully. The KPIs table of phase 3 is attached in the appendix
3.
Time 1/6/2021 - 30/9/2021 (4 months)
Brands Influencers
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Objective ● Generate 6,600 website ● Expand KOLs HUB

visitors. community by 800
● Drive consideration about members.
KOLs HUB services.
● Convert prospective
customers into customers.
Key message ● “Influencer power on hands.” ● “1 KOL làm chẳng nên

non, 3 KOLs chụm lại
nên hòn núi cao.”
Content idea ● Influencer marketing report. ● Encouraging influencers

● Case study on the invites more influential
effectiveness of the influencer peers to the KOLs HUB
marketing campaign of some community.
brands. ● Famous influencers share
● Introduction and detailed their career story and
explanation of KOLs HUB’s experience on the talk
Influencer fraud detection show.
algorithm.
● Service demonstration in
website and video.
Channels ● Facebook, Google, Email, ● Facebook, Talk show.

Telemarketing.
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● Optimize SEO. ● Holding two talk shows:

Key activities
● Run paid ads on Facebook,
- Nghề Influencer #1:
and Google paid search ads.
HannahOlala- chặng
● Develop content on the
đường 15 năm beauty
website and fan page.
blogger.
● Deploy personal selling, email
marketing, telemarketing to - Nghề Influencer #2: Lê
connect with prospective Hà Trúc- Tôi nghĩ mình
customers. là KOL bị ghét nhất Việt
● Implement promotional Nam"
activities to boost sales and
increase the traffic for the ● Maintain KOLs HUB
website: community on Facebook
● Post sale promotion group
information on KOLs HUB’s ● Implement referral
social media. activities: the influencer
● Give 120 free KOLs Finding who invites two more
packages. influencers will get a

50% discount on his/her
next campaign.
3.2.3.4 Phase 4: Loyalty and Advocacy
Preferential offers to brands:
After running 10 campaigns on the platform, KOLs HUB will have a discount of 20% to support
and encourage SMEs. Up-sale by discount 50% KOLs Matching service for KOLs Finding
customers.
Rewarding influencers:
Notice to influencers in partnership with KOLs HUB via Gmail. When cooperating 10
campaigns with Brands through the platform, the platform will rank influencers according to
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Gold, Silver, and Bronze rank. There will be awards for the 10 Best Influencers of the year. The
more you work and achieve high efficiency, the platform will award rewards at the year-end
party. Invites influencers who have partnered with the platform, honoring influencers for their
dedication and hard work with Brands and the platform. The party includes food, drinks, and
entertainment programs registered by the influencers.
Awarding prizes to: Best Influencer of the year, Top 10 Golden Influencers, Top 10 Silver
Influencers, Top 10 Bronze Influencers
Reward content:
❖ Best Influencer: 100 campaigns a year. Bonuses will be calculated based on 15% of the
amount that influencers make during the year.
❖ Top 10 Golden: 1 year to carry out 70 campaigns. Bonuses will be calculated based on
10% of the amount influencers make during the year.
❖ Top 10 Silver: 50 campaigns a year. Bonuses will be calculated based on 7% of the
amount that influencers make during the year.
❖ Top 10 Bronze: 30 campaigns must be done in 1 year. Bonuses will be calculated based
on 5% of the amount that influencers make during the year. The KPIs table of phase 4 is
attached in the appendix 3.
Time 1/10/2021 - 31/12/2021
Objective ● Generate 3,300 website visitors. ● Bond influencer community

● Strengthen CRM. relationship.
● Convert prospective customers ● Award the outstanding
into customers. members.
● Cross selling
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Key message ● “Trăm người nói, triệu người ● “Đồng hành, gắn kết, sức mạnh.
tin.” Tự hào là một thành viên của
KOLs HUB community”
Content idea ● Showcase the outcome of the

● Thank influencers for
influencer marketing campaign
accompanying KOLs HUB.
of the platform’s previous
● Honor the members that dedicate
customers.
to the community.
● Introduction and detailed
● Sum up the success that KOLs
explanation of KOLs HUB’s
HUB community achieves over
campaign performance
the year.
indicators.
● Thank valued customers for
accompanying KOLs HUB.
Channels ● Facebook, Event, E-mail, ● Facebook, Email

Telephone
● Hold End year party for

Key ● Remarketing website visitors.
influencers
activities ● Up-sale by discount 50% KOLs
● Offer rewards, and recognition to
Matching service for KOLs
dedicated influencers.
Finding customers.
● Financial support for long-term
customers.
● Personal selling
● Email marketing
● Telemarketing
PAGE 96
Chapter 4: Financial Analysis
1. Revenue stream
1.1 KOLs finding package
KOLs Finding package was defined by KOLs HUB as a trial panel for brands prior to a long-
term partnership with KOLs HUB. Brands may upload a certain number of posts on the platform
per month to recruit influencers without support services from KOLs HUB. KOLs HUB will set
a price tag of 50,000 VND per month for the posting package with sales of 1,428 packages in the
first year and is expected to bring 1.3% of total revenue in the first year for the KOLs HUB
(equivalent to 71,411,122 VND). KOLs HUB predicts a growth rate of 83.3% per year and will
achieve revenue of VND 804,149,740 by year five. These three tables below will show the
growth of posting package revenue stream over five years in three situations:
Best case
KOLs Finding Year 1 Year 2 Year 3 Year 4 Year 5

package
Price per unit 50,000 50,000 50,000 50,000 50,000
% increase 0% 0% 0% 0%
Number of units 1701 3402 6804 13608 27216
% growth 100% 100% 100% 100%
Total 85,042,074 170,084,149 340,168,299 680,336,598 1,360,673,196

Table 19 - Best case of KOLs HUB Finding package
Expected case

package
Price per unit 50,000 50,000 50,000 50,000 50,000
% increase 0% 0% 0% 0%
Number of units 1428 2618 4799 8796 16123
% growth 83.3% 83.3% 83.3% 83.3%
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Total 71,411,122 130,896,587 239,933,444 439,798,003 806,149,740

Table 20 - Expected case of KOLs HUB Finding package
Worst case

package
Price per unit 50,000 50,000 50,000 50,000 50,000
% increase 0% 0% 0% 0%
Number of units 1134 1889 3147 5243 8735
% growth 66.6% 66.6% 66.6% 66.6%
Total 56,694,716 94,453,396 157,359,359 262,160,692 436,759,713

Table 21 - Worst case of KOLs Finding package
1.2 KOLs Matching - commission
Unlike the KOLs Posting package, customers who subscribe to the KOLs HUB platform on a
commission basis receive strong support from the KOLs HUB with services to find the most
relevant influencers for each campaign, design a suitable marketing strategy and much more
assistance. The KOLs Matching - commission revenue is the main source of revenue stream for
KOLs HUB in the first year and will account for 98.7% of the total expected revenue. For each
campaign between influencer and business conducted on the platform with support from the
KOLs HUB, KOLs HUB will charge a fee of 30% of the transaction's total budget (15% from
business and 15% from influencer). It is expected that from each transaction between brands and
influencers, KOLs HUB will earn a profit of about 2,000,000 VND and is estimated to reach
2652 transactions in the first year. With 2652 transactions reached on the platform in the first
year, the revenue stream from the commission is expected to reach about 5,304,826,227 VND.
KOLs HUB is expected to grow rate of 43% per year for five years, these three tables below will
show the growth of commission revenue stream over five years of best, expected and worst
situation:
Best case
Commission Year 1 Year 2 Year 3 Year 4 Year 5
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Price per unit 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000
% increase 0% 0% 0% 0%
Number of units 3228 4894 7420 11248 17052
% growth 51.6% 51.6% 51.6% 51.6%
Total 6,456,655,984 9,788,290,472 14,839,048,356 22,495,997,308 34,103,931,919

Table 22 - Best case of KOLs HUB Matching commission
Expected case
Price per unit 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000
% increase 0% 0% 0% 0%
Number of units 2,652 3,793 5,424 7,756 11,091
% growth 43% 43% 43% 43%
Total 5,304,826,227 7,585,901,504 10,847,839,151 15,512,409,986 22,182,746,280

Table 23 - Expected case of KOLs HUB Matching commission
Worst case
Price per unit 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000
% increase 0% 0% 0% 0%
Number of units 2152 2893 3888 5225 7022
% growth 34.4% 34.4% 34.4% 34.4%
Total 4,304,437,323 5,785,163,762 7,775,260,096 10,449,949,569 14,044,732,221

Table 24 - Worst case of KOLs HUB Matching commission
2. Startup Expenses and Capitalization

2.1 Initial outlay
The team estimated start-up expenses for the project including costs for three main categories:
Website creation and development; fixtures and equipment purchase; and other costs. It is
important to understand the market to get the lowest price with the highest level of support for
this project. The authors group sends their application to multiple agencies to receive actual
quotes. In the end, we decided to partner with Google cloud, DevTeam.Space (the technology
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specialist hiring company for machine learning development) and ICSC (the website and server
development company). Finally, the total initial investment we need is 3,154,724,000 VND.
Details of the expenses are shown in the table below.
Initial Outlay (VND)
Quantity Price Total
Server 1 119,724,000 119,724,000
Web building 1 500,000,000 500,000,000
Website Creating Google AI cloud's fees 1 690,000,000 690,000,000

and Development
Technology solutions
1 1,610,000,000 1,610,000,000
(DevTeam.Space)
Database Storage 1 161,000,000 161,000,000
Headphone 4 1,000,000 4,000,000

Fixtures and
Equipment
Others (Stationary, POSM...) 20,000,000
Deposit-building 3 15,000,000 45,000,000

Other expense
Licenses, Permits 1 5,000,000 5,000,000
Total 3,154,724,000
Table 25 - Initial Outlay
2.2 Operation expenses
Operating costs include two main types of expenses: fixed expenses and variable expenses; On
the other hand, it can also be divided into two types of expenses that are cost of goods sold
(COGS) and selling, general & administrative expenses (SG&A). The operating expenses
structure of the KOLs HUB is depicted in the diagram below.
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Figure 46 - Operation expenses
2.2.1 Fixed expenses
Fixed cost including the expenses that the company needs to survive with no problem. KOLs
HUB's fixed expenses include these components:
- Server maintenance is a necessary expense for KOLs HUB to maintain the company's
server operation every month.
- Salary for employees: The detailed salary sheet structure for each position has been
detailed by the authors in the HR section. In the table below, KOLs HUB summarizes the
cost of salaries and divides them into two parts: developer salaries (including developer
and DevTeam - outsource) and salary for other positions in the company. The salary of
each position in KOLs HUB will be increased by 10% per year, which is to increase
employee engagement with the company.
- Employment insurance: The social insurance that a business has to pay is 21.5% of the
employee's salary (Ketoanthienung.org, 2019).
- Office rent: KOLs HUB rented an office in District 6, where fully furnished and
equipped. In this case, suppose that the cost of the rental will change by 5% each year.
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- Utilities include electricity, water, internet, etc., in the case of a company with a few
employees like KOLs HUB, utility costs are about 2,500,000 VND / month. And with
the assumption that prices change by 5% per year.
The fixed costs of KOLs HUB are shown more clearly in the table below.
Fixed Expense (VND)
Year 1 Year 2 Year 3 Year 4 Year 5
Server maintain – COGS 60,000,000 60,000,000 60,000,000 60,000,000 60,000,000
Salaries 1,248,000,000 1,372,800,000 1,918,800,000 2,110,680,000 2,321,748,000
Developer salary-COGS 396,000,000 435,600,000 639,600,000 703,560,000 773,916,000
Other salary – no
852,000,000 937,200,000 1,279,200,000 1,407,120,000 1,547,832,000
Production
Employment Insurance 268,320,000 295,152,000 412,542,000 453,796,200 499,175,820
Office rental payment 180,000,000 189,000,000 198,450,000 208,372,500 218,791,125
Utilities (electricity, water,

30,000,000 31,500,000 33,075,000 34,728,750 36,465,188
internet...)
Total 1,786,320,000 1,948,452,000 2,622,867,000 2,867,577,450 3,136,180,133
Table 26 - Fixed Expense
2.2.2 Variable expense
KOLs HUB's variable expenses will vary depending on the market response. Similar to revenue
forecast KOLs HUB also creates three cost scenarios for three market responses: best case,
expected case, and worst case. Variable expenses include:
- Marketing: marketing expenses of KOLs HUB for three cases are the same in years one
and two; however they will vary from year three to year five, KOLs HUB estimates it
will spend 15% of estimated revenue on marketing.
- Sales commissions: KOLs HUB will spend 2% of the estimated revenue on sales
commissions.
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- R&D: The authors based on the SaaS Benchmark Report (Kyle Poyar and Sean
Fanning, 2018) to determine the percentage of R&D costs based on the size of company
revenue. So every year KOLs HUB spends 35% of its revenue on R&D.
- Other fees: In addition, the company also spends 12,000,000 VND per year for other
variable expenses.
Details of variable expenses for each case are shown in the table below:
Best case (VND)
Marketing expenses 1,000,000,000 1,100,000,000 2,095,543,909 3,066,280,173 4,491,275,048
Sales commissions 130,833,961 191,120,476 279,405,855 408,837,356 598,836,673
R&D 2,289,594,321 3,344,608,337 4,889,602,455 7,154,653,737 10,479,641,779
Other Fee 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000
Total 3,432,428,282 4,647,728,813 7,276,552,219 10,641,771,267 15,581,753,501
Expected case (VND)
R&D 1,907,995,267 2,787,173,614 4,074,668,713 5,962,211,448 8,733,034,816
Other Fee 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000
Total 3,029,023,568 4,058,440,678 6,065,793,516 8,870,142,723 12,986,794,584
Worst Case (VND)
R&D 1,526,396,214 2,229,738,891 3,259,734,970 4,769,769,158 6,986,427,853
Other Fee 12,000,000 12,000,000 12,000,000 12,000,000 12,000,000
Total 2,625,618,855 3,469,152,542 4,855,034,813 7,098,514,178 10,391,835,667
Table 27 - Variable Cost Best case, Expected case, Worst case
PAGE 103
2.2.3 Operation expenses summary
The operating expenses of KOLs HUB for each market case will be more clearly summarized by
the authors in the table and chart below.
Best case:
Figure 47 - KOLs HUB total operating costs estimation - Best Case
Operation expenses - Best case (VND)
COGS 456,000,000 495,600,000 699,600,000 763,560,000 833,916,000
Selling, general, &

4,762,748,282 6,100,580,813 9,199,819,219 12,745,788,717 17,884,017,633
administrative expenses
Total Costs 5,218,748,282 6,596,180,813 9,899,419,219 13,509,348,717 18,717,933,633

Table 28 - Operation expenses - Best case
PAGE 104
Expected case:
Figure 48 - KOLs HUB total operating costs estimation - Expected Case
Operation expenses - Expected case (VND)
COGS 456,000,000 495,600,000 699,600,000 763,560,000 833,916,000
Selling, general, & administrative

4,359,343,568 5,511,292,678 7,989,060,516 10,974,160,173 15,289,058,716
expenses
Total Costs 4,815,343,568 6,006,892,678 8,688,660,516 11,737,720,173 16,122,974,716

Table 29 - Operation expenses – Expected case
PAGE 105
Worst case:
Figure 49 - KOLs HUB total operating costs estimation - Worst Case
Operation expenses - Worst case (VND)
COGS 456,000,000 495,600,000 699,600,000 763,560,000 833,916,000
Selling, general, &

3,955,938,855 4,922,004,542 6,778,301,813 9,202,531,628 12,694,099,800
Total Costs 4,411,938,855 5,417,604,542 7,477,901,813 9,966,091,628 13,528,015,800
Table 30 - Operation expenses - Worst case
2.2.4 Percentage of each operating expenses vs sales
The tables below show the types of expenses as its percentage of sales with three cases of market
reaction.
PAGE 106
Table 31 - The types of expenses as its percentage of sales Best case, Expected case, Worst case
2.3 Depreciation
Depreciation (VND)
Technology
Web Google AI Database
Server solutions Headphone Other
building cloud's fees Storage
(DevTeam.Space)
Equipment total value 500,000,000 119,724,000 2,300,000,000 690,000,000 1,610,000,000 4,000,000 20,000,000
Depreciation time
5 5 5 5 5 5 5
(year)
Depreciation value 100,000,000 23,944,800 460,000,000 138,000,000 322,000,000 800,000 4,000,000
Annual depreciation Year 1 Year 2 Year 3 Year 4 Year 5
Total Costs 620,944,800 620,944,800 620,944,800 620,944,800 620,944,800
Table 32 - Depreciation
PAGE 107
3. Financial projection
3.1 Income statements
Based on the revenues and operating costs mentioned in the previous sections, the tables below
are estimates of KOLs HUB's Income Statement in all three cases of market reaction.
Income statement - Best case (VND)
Net sale 6,541,698,059 9,556,023,819 13,970,292,729 20,441,867,821 29,941,833,655
Operating expenses
COGS (456,000,000) (495,600,000) (699,600,000) (763,560,000) (833,916,000)
Selling, general &

(4,762,748,282) (6,100,580,813) (9,199,819,219) (12,745,788,717) (17,884,017,633)
Depreciation & Amortization (620,944,800) (620,944,800) (620,944,800) (620,944,800) (620,944,800)
EBIT 702,004,977 2,338,898,206 3,449,928,710 6,311,574,304 10,602,955,222
Interest expense 0 0 0 0 0
Income Tax (tax 10%) * - - - - (1,060,295,522)
Net profit after tax (Net

702,004,977 2,338,898,206 3,449,928,710 6,311,574,304 9,542,659,700
income)
Table 33 - Income statement - Best case
Income statement - Expected case (VND)
Net sale 5,451,415,049 7,963,353,183 11,641,910,607 17,034,889,851 24,951,528,046
Operating expenses
COGS (456,000,000) (495,600,000) (699,600,000) (763,560,000) (833,916,000)
Selling, general &

(4,359,343,568) (5,511,292,678) (7,989,060,516) (10,974,160,173) (15,289,058,716)
PAGE 108
EBIT 15,126,681 1,335,515,705 2,332,305,291 4,676,224,879 8,207,608,530
Income Tax (tax 10%) * - - - - (820,760,853)

15,126,681 1,335,515,705 2,332,305,291 4,676,224,879 7,386,847,677
income)
Table 34 - Income statement - Expected case
Income statement - Worst case (VND)
Net sale 4,361,132,040 6,370,682,546 9,313,528,486 13,627,911,881 19,961,222,437
Operating expenses
COGS (456,000,000) (495,600,000) (699,600,000) (763,560,000) (833,916,000)
Selling, general &

(3,955,938,855) (4,922,004,542) (6,778,301,813) (9,202,531,628) (12,694,099,800)
EBIT (671,751,615) 332,133,204 1,214,681,873 3,040,875,453 5,812,261,837
Income Tax (tax 10%) * - - - - (581,226,184)

(671,751,615) 332,133,204 1,214,681,873 3,040,875,453 5,231,035,653
income)
Table 35 - Income statement - Worst case
(*) New law allows technology start up companies to have four years of 0% tax, and in the 9th
year, the tax will be cut down 50% which is 10% of 20% business tax.
3.2 Balance sheet
A balance sheet provides a picture of a company's assets and liabilities, as well as the amount
owned by shareholders. The balance sheet of KOLs HUB in all three cases is shown in the
following tables:
PAGE 109
Balance sheet - Best case (VND)
Current Assets
Cash & marketable

3,218,225,777 6,178,068,784 10,248,942,293 17,181,461,398 28,405,361,420
securities
Accounts receivable 0 0 0 0 0
Inventory 0 0 0 0 0
Prepaid expenses &

0 0 0 0 0
other current assets
Total current assets 3,218,225,777 6,178,068,784 10,248,942,293 17,181,461,398 28,405,361,420
Fixed Assets (CapEx)
At cost 3,104,724,000 2,483,779,200 1,862,834,400 1,241,889,600 620,944,800
Less accumulated
(620,944,800) (620,944,800) (620,944,800) (620,944,800) (620,944,800)
depreciation
Net Fixed Assets 2,483,779,200 1,862,834,400 1,241,889,600 620,944,800 -
Total assets 5,702,004,977 8,040,903,184 11,490,831,893 17,802,406,198 28,405,361,420
Current liabilities
Accounts payable &

0 0 0 0 0
accrued expenses
(1,060,295,522
0 0 0 0
Income taxes payable )
Other current
0 0 0 0 0
liabilities
(1,060,295,522
0 0 0 0
Total current liabilities )
Stockholders' equity
Common stock 5,000,000,000 5,000,000,000 5,000,000,000 5,000,000,000 5,000,000,000
Retained earnings 702,004,977 3,040,903,184 6,490,831,893 12,802,406,198 22,345,065,897
Total equity 5,702,004,977 8,040,903,184 11,490,831,893 17,802,406,198 27,345,065,897
Total liabilities and

5,702,004,977 8,040,903,184 11,490,831,893 17,802,406,198 28,405,361,420
equity
Table 36 - Balance sheet - Best case
PAGE 110
Balance sheet - Expected case (VND)
Current Assets
Cash & marketable

2,531,347,481 4,487,807,986 7,441,058,078 12,738,227,756 21,566,781,086
securities
Inventory 0 0 0 0 0
Prepaid expenses &

0 0 0 0 0
At cost 3,104,724,000 2,483,779,200 1,862,834,400 1,241,889,600 620,944,800
Less accumulated
(620,944,800) (620,944,800) (620,944,800) (620,944,800) (620,944,800)
depreciation
Net Fixed Assets 2,483,779,200 1,862,834,400 1,241,889,600 620,944,800 -
Total assets 5,015,126,681 6,350,642,386 8,682,947,678 13,359,172,556 21,566,781,086
Current liabilities
Accounts payable &

0 0 0 0 0
accrued expenses
Income taxes payable 0 0 0 0 (820,760,853)
Other current liabilities 0 0 0 0 0
Total current liabilities 0 0 0 0 (820,760,853)
Common stock 5,000,000,000 5,000,000,000 5,000,000,000 5,000,000,000 5,000,000,000
Retained earnings 15,126,681 1,350,642,386 3,682,947,678 8,359,172,556 15,746,020,233
Total equity 5,015,126,681 6,350,642,386 8,682,947,678 13,359,172,556 20,746,020,233

5,015,126,681 6,350,642,386 8,682,947,678 13,359,172,556 21,566,781,086
equity
Table 37 - Balance sheet - Expected case
PAGE 111
Balance sheet - Worst case (VND)
Current Assets
Cash & marketable 12,738,227,75

1,844,469,185 2,797,547,189 4,633,173,862 8,294,994,115
securities 6
Inventory 0 0 0 0 0
Prepaid expenses &

0 0 0 0 0
At cost 3,104,724,000 2,483,779,200 1,862,834,400 1,241,889,600 620,944,800
Less accumulated
(620,944,800) (620,944,800) (620,944,800) (620,944,800) (620,944,800)
depreciation
Net Fixed Assets 2,483,779,200 1,862,834,400 1,241,889,600 620,944,800 -
13,359,172,55
5,015,126,681 6,350,642,386 8,682,947,678 21,566,781,086
Total assets 6
Current liabilities
Accounts payable &

0 0 0 0 0
accrued expenses
Income taxes payable 0 0 0 0 (820,760,853)
Other current liabilities 0 0 0 0 0
Total current liabilities 0 0 0 0 (820,760,853)
Common stock 5,000,000,000 5,000,000,000 5,000,000,000 5,000,000,000 5,000,000,000
Retained earnings (671,751,615) (339,618,411) 875,063,462 3,915,938,915 9,146,974,569
Total equity 4,328,248,385 4,660,381,589 5,875,063,462 8,915,938,915 14,146,974,569

4,328,248,385 4,660,381,589 5,875,063,462 8,915,938,915 14,728,200,752
equity
Table 38 - Balance sheet - Worst case
PAGE 112
3.3 Free Cash Flow and Net Present Value
Free cash flow (FCF) helps investors see clearly the amount of real money of the business as
well as the ability to make a profit of the business.
The additional working capital is estimated to be total initial investment (five billion dong)
minus initial investment amount, to pay for incurred cost in the operation.
The business income tax accounts for 10% of the company’s gross profit, and is applicable for
the fifth year.
The discount rate is set at 12%, equal 1.5 times the bank interest rate (8%)
The Free Cash Flow for three scenarios is illustrated in tables below:
Figure 50 - Free cash flow - Best case
Figure 51 - Free cash flow – Expected case
PAGE 113
Figure 52 - Free cash flow - Worst case
4. Financial ratios
4.1 Breakeven point, payback Period and IRR
In this section, the authors compute a number of important indicators including break-even
point, payback period, discounted payback period, and internal rate of return (IRR). The
indicators for all three market scenarios are shown in the tables below.
Break-even Point ($Sales)
Best Case 5,609,787,928
Expected Case 5,254,905,976
Worst Case 4,927,118,392
Table 39 - Break-even Point
Payback Period and IRR - Best case (VND)
year Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
FCF (5,000,000,000) 1,322,949,777 2,959,843,006 4,070,873,510 6,932,519,104 10,163,604,500
Cumulative FCF (5,000,000,000) (3,677,050,223) (717,207,216) 3,353,666,293 10,286,185,398 20,449,789,897
Discounted FCF (5,000,000,000) 1,181,205,158 2,359,568,723 2,897,567,356 4,405,741,220 5,767,102,144
Cumulative
(5,000,000,000) (3,818,794,842) (1,459,226,119) 1,438,341,237 5,844,082,457 11,611,184,601
discounted FCF
Payback period 2.18
Discounted
2.50
payback period
Internal Rate of
60%
Return
Table 40 - Payback Period and IRR - Best case
PAGE 114
Payback Period and IRR - Expected case (VND)
FCF (5,000,000,000) 636,071,481 1,956,460,505 2,953,250,091 5,297,169,679 8,007,792,477
13,850,744,23
Cumulative FCF (5,000,000,000) (4,363,928,519) (2,407,468,014) 545,782,078 5,842,951,756
3
Discounted FCF (5,000,000,000) 567,920,965 1,559,678,336 2,102,065,082 3,366,447,095 4,543,836,506
Cumulative
(5,000,000,000) (4,432,079,035) (2,872,400,698) (770,335,616) 2,596,111,479 7,139,947,985
discounted FCF
Payback period 2.82
Discounted
3.23
payback period
Internal Rate of
43%
Return
Table 41 - Payback Period and IRR - Expected case
Payback Period and IRR - Worts Case (VND)
FCF (5,000,000,000) (50,806,815) 953,078,004 1,835,626,673 3,661,820,253 5,851,980,453
Cumulative FCF (5,000,000,000) (5,050,806,815) (4,097,728,811) (2,262,102,138) 1,399,718,115 7,251,698,569
Discounted FCF (5,000,000,000) (45,363,228) 759,787,950 1,306,562,808 2,327,152,971 3,320,570,868
Cumulative
(5,000,000,000) (5,045,363,228) (4,285,575,278) (2,979,012,470) (651,859,499) 2,668,711,369
discounted FCF
Payback period 3.62
Discounted
4.20
payback period
Internal Rate of
25%
Return
Table 42 - Payback Period and IRR - Worts Case
4.2 Other financial ratios
Gross profit margin is the sales revenue a company retains after incurring the direct costs
associated with producing the goods it sells, and the services it provides. Due to the nature of the
company as the startup of technology, the cost of selling is relatively low, so Gross profit margin
PAGE 115
of KOLs HUB is quite high in all three cases: best case, the expected and the worst case,
reaching 93%, 92%, and 90% respectively in the first year. In the following years Gross profit
margin increased steadily, which is a positive signal for the company.
Operating profit margin refers to the profits earned from the core operations of the company,
while the net profit margin calculates the actual margin earned after considering the effect of
interest payments on debt and tax outflows. In the case of KOLs HUB, the company is exempt
from tax for the first four years, so these two indices are the same for the first four years and
there is a difference in year five. As can be seen in the first year, in the best case, these two
indices are positive but they are zero and negative in the expected and worst case. This is
because, as expected, the total operating costs are almost equal to the net sales, and in the worst
case the total operating costs are greater than the net sales. Thereafter, these proportional values
increase significantly over the following years and it is clearly depicted in the charts below.
Best case
Figure 53 Other Financial Ratios - Best case
Expected case
Figure 54 - Other Financial Ratios - Expected case
Worst Case
PAGE 116
Figure 55 - Other Financial Ratios - Worst case
Return on equity (ROE) is a measure of financial performance that is considered a measure of

how effectively management is using a company’s assets to create profits. The ROI of KOLs
HUB in three cases is depicted in the chart below.
Figure 56 – Return on Equity
In summary, although in the first years some of KOLs HUB's indicators were negative in the
worst case and zero in the expected case, it was considered an indispensable thing for a startup.
In return, in the following years, KOLs HUB's profitability indicators showed signs of prosperity
and were much more positive.
PAGE 117
CHAPTER 5: RISK MANAGEMENT AND CONCLUSION
1. Risk management and backup plan
1.1 Compliance risk
Compliance risk is the possibility that an enterprise may suffer legal penalties, financial
forfeiture or material loss when it violates some industry laws and regulations, internal policies
or prescribed best practices. Compliance risk causes difficulties and problems for businesses,
KoLs Hub will list some potential risks and countermeasures in the table below:
Risk Consequence of risk Contingency plan Person

responsible
Data protection Along with app development, the - Update information Operation manager
increasing amount of data that the security software
KOLs HUB system has to store continuously.
and process will pose more - There are rules about
potential risks., if there are no information security both
appropriate measures, it will make internally and externally.
it difficult for KOLs HUB to - Appointing people /
manage these data. At the same departments to regularly
time, it is easy for cybercriminals monitor and update data
to steal user data for spam, and check the automatic
property theft or identity theft. data management system
carefully.
PAGE 118
Campaign KOLs HUB is committed to - KOLs HUB will Operation manager

efficiency providing the most appropriate penalize influencers 20%
influencer for each campaign as of campaign money to
well as creating a suitable compensate for additional
marketing strategy for each costs incurred (in the case
collaborative brand. However, of influencers' mistakes
sometimes it happens that the such as scandals or other
results are not as expected / not errors from influencers).
reached the KPI due to objective or - KOLs HUB will
subjective factors. This leads to compensate 10% of
undesirable effects for both the influencers (in case of an
KoLs Hub and the partner error caused by an
companies internal company).
- 10% compensation for
the platform (in case the
error comes from
collaborating brands and
influencers)
Table 43 - Compliance risk of KOLs HUB
1.2 Strategic risk
Strategic risk involves potential risks when a company makes one or more wrong or
inappropriate decisions, causing the company to fail to respond properly to changes in market
demand and thus suffer losses in different degrees. In order to prevent inappropriate decisions
from being made, KOLs HUB will estimate some potential risks and find the backup plan to deal
with them:
PAGE 119
Risk Consequence of risk Contingency plan Person

responsible
- The marketing team must

Social Trends are evolving and Marketing
constantly update new trends
marketing changing rapidly nowadays. manager
that are changing in society
trend This leads to the situation that
if the company does not keep - Take in-company and out-of-
up with the modern trend, it company surveys with diverse
will not be able to build samples to keep up with trends
appropriate marketing from different groups of people.
strategies for customers as
- Listen opinions from
well as link appropriate
employees, collaborating
influencers for brands.
brands, and influencers
PAGE 120
Competitors Other influencer marketing - Focus on the competitive CEO

platforms can cause a lot of advantage of the company in
competition for KOLs HUB. order to deliver the value KOLs
Changes in competitors' HUB creates to the customers.
prices, operations or target
- Track current and potential
customers can also directly or
competitors in the market
indirectly affect the company.
regularly and create short-term
plans to react, long-term plans to
increase competitiveness.
PAGE 121
Customer Enterprises are the customers Therefore, the solution KOLs Operation
relationship that bring KOLs HUB the HUB comes up with to solve manager
management main source of revenue. this problem is to always care
Therefore, their issues in the about the business when they
process of using the service need it by allowing them to send
are of particular concern to questions or problems directly to
KOLs HUB. In addition to customer service. They can send
the above issues, businesses a text to the Chat box or call the
may also find it difficult to support switchboard. For
find suitable candidates. In example, when the content of
some cases, businesses may the job postings is not attractive,
not be able to find influencers KOLs HUB will support to
after using KOLs finding, improve the content to help
which may cause them to attract more candidates.
distrust the value that KOLs
HUB offers. They will
probably give up using the
KOLs HUB platform. That
makes KOLs HUB reduce
sales.
Table 44 - Strategic risk of KOLs HUB
2. Conclusion
In conclusion, KOLs HUB platform is researched and developed to help SMEs easily execute
their influencer marketing campaigns without spending too much time finding appropriate
influencers. Also, KOLs HUB supports SMEs to optimize cost. The platform creates influencer
opportunities to interact with brands, increase influencer popularity on social networks.
Marketing market in Vietnam is growing day by day, attracting foreign investors and domestic
start-ups to participate in the market of building connection platforms. Therefore, in the future
KOLs HUB cannot avoid having more competitors with similar types. In order for the platform
PAGE 122
to always maintain its position, KOLs HUB will constantly develop in machine learning
technology, research new support tools, update with changes coming from the market to fully
serve our customers.
PAGE 123
APPENDIX
Appendix 1: Form of survey

KHẢO SÁT NHU CẦU SỬ DỤNG INFLUENCER MARKETING
Xin chào các Anh/Chị, Chúng tôi đến từ khoa Quản trị kinh doanh của trường Đại học FPT Hồ
Chí Minh. Chúng tôi đang thực hiện đề tài "Nền tảng kết nối các nhãn hàng với những người có
sức ảnh hưởng vừa và nhỏ tại Việt Nam".
Chúng tôi xin cam kết rằng các thông tin, số liệu trong bảng khảo sát chỉ dùng phục vụ cho mục
đích học tập.
Mong các Anh/Chị dành ít thời gian quý báu để tham gia trả lời các câu hỏi sau. Không có câu
hỏi nào là đúng hay sai, tất cả các câu trả lời đều có giá trị đối với đề tài của chúng tôi. Hi vọng
Anh/Chị sẽ có những phút giây thoải mái nhất khi trả lời những câu hỏi của chúng tôi.
Chúc Anh/Chị một ngày vui vẻ - chúng tôi xin chân thành cảm ơn!
PHẦN 1: THÔNG TIN DOANH NGHIỆP
1. Tên doanh nghiệp anh/chị hiện đang làm việc?

Văn bản câu trả lời ngắn
2. Vị trí công việc của anh/chị trong doanh nghiệp là gì?
Văn bản câu trả lời ngắn
3. Thời gian doanh nghiệp anh/chị hoạt động?
• Dưới 3 năm
• Từ 3 – 5 năm
• Từ 5 – 10 năm
• Trên 10 năm
4. Quy mô doanh nghiệp của anh/chị đang làm việc?
• Dưới 10 nhân viên
• Từ 11 nhân viên đến 50 nhân viên
• Từ 51 nhân viên đến 100 nhân viên
• Từ 100 nhân viên trở lên
PAGE i
5. Loại hình kinh doanh của doanh nghiệp anh/chị đang làm việc?
• FMCG (hàng tiêu dùng nhanh)
• Thời trang
• Du lịch
• Dịch vụ ăn uống
• Cửa hàng bán lẻ
• Nhà hàng, khách sạn
• Dịch vụ
• Khác...
PHẦN 2: KHẢO SÁT SỬ DỤNG
Influencer marketing - tiếp thị người ảnh hưởng là một hình thức marketing qua mạng xã hội mà
doanh nghiệp hợp tác với những người có sức ảnh hưởng với nhóm khách hàng tiềm năng để
thực hiện hoạt động marketing.
6. Doanh nghiệp anh/chị đã sử dụng Influencer Marketing chưa?

• Đã sử dụng
• Chưa sử dụng
7. Nếu chưa, anh/chị có muốn sử dụng Influencer Marketing trong vòng 1 năm tới không?
• Có ý định sử dụng trong vòng 1 năm tới
• Không có ý định sử dụng
PHẦN 3: ĐÁNH GIÁ MỨC ĐỘ HIỆU QUẢ
8. Nếu có, anh/chị thấy Influencer Marketing có hiệu quả hay không?
1 2 3 4 5
Hoàn toàn Hoàn toàn

không hiệu quả hiệu quả
9. Anh/chị có ý định sử dụng lại hay không?
1 2 3 4 5
PAGE ii
Chắc chắn Chắc chắn có

không
PHẦN 4: KHẢO SÁT NHU CẦU SỬ DỤNG
10. Số lượng KOLs mà anh/chị thường sử dụng trong một chiến dịch marketing?
• 1–5
• 6 – 10
• 11 – 15
• Trên 15
11. Loại hình KOLs mà anh/chị muốn sử dụng?
• Nano KOLs (1k - 10k follow)
• Micro KOLs (10k - 100k follow)
• Macro KOLs (100k - 1 triệu follow)
• Celebrity (trên 1 triệu follow)
12. Doanh nghiệp anh/chị chi bao nhiêu cho ngân sách dành cho Marketing? (Khoảng bao
nhiêu trong một năm?)
Văn bản trả lời dài
13. Hiện tại doanh nghiệp anh/chị chi bao nhiêu phần trăm ngân sách Marketing cho
Influencer Marketing?
• Dưới 10%
• Từ 10 - 20%
• Từ 20 - 30%
• Từ 30 - 40%
• Trên 40%
14. Anh/chị tìm kiếm KOLs qua những nguồn/kênh nào?
• Agency
• Mối quan hệ cá nhân
• Nền tảng kết nối doanh nghiệp với KOLs. (VD: Hiip Asia, 7SAT)
15. Tiêu chí lựa chọn KOLs của anh/chị là gì ?
PAGE iii
Không quan trọng Hơi quan Bình thường Quan trọng Rất quan trọng
trọng
Lượng người theo

dõi
Có năng khiếu tiếp

thị sản phẩm
Chất lượng
content
Định vị của KOLs

phù hợp với loại
hình sản phẩm của
doanh nghiệp
Có kinh nghiệm
làm việc với nhiều
nhãn hàng
Tỷ lệ tương tác
Đối tượng mục

tiêu
Ngân sách
Đang nổi tiếng

(trending)
Được giới thiệu
16. Ngoài những tiêu chí chọn lựa KOLs kể trên, anh/chị có yêu cầu gì khác không?
Văn bản trả lời dài
17. Những khó khăn khi làm việc với KOLs?
PAGE iv
• Mức giá KOLs đưa ra quá cao, không phù hợp với ngân sách của doanh nghiệp
• KOLs không cam kết rõ ràng về hiệu quả của công việc
• KOLs nhận tiền nhưng không hoàn thành công việc
• KOLs không đảm bảo nội dung mà doanh nghiệp đưa ra
• KOLs không đảm bảo tiến độ công việc
• Khác...
18. Những khó khăn của anh/chị khi làm việc với bên thứ 3 để kết nối với KOLs?
• Chi phí cao
• Hai bên không hiểu nhau
• Chi phí không minh bạch
• Quy trình làm việc không rõ ràng
• Khó khăn trong việc giải quyết mâu thuẫn với bên thứ 3
• Khác...
19. Những khó khăn khi làm việc với nền tảng kết nối KOLs với doanh nghiệp?
• Khó sử dụng.
• Chi phí quá cao.
• Kết quả báo cáo không đáng tin cậy.
• Không mang lại hiệu quả như mong muốn.
• Bảng báo cáo không cập nhật liên tục
• Khác...
20. Trong tương lai anh/chị có nhu cầu sử dụng một nền tảng kết nối và quản lý KOLs cho
doanh nghiệp hay không?
● Có ý định.
● Không có ý định
● Cân nhắc.
21. Các tính năng cơ bản cần phải có của 1 nền tảng kết nối KOLs với doanh nghiệp.
Không cần thiết Hơi cần thiết Bình Cần thiết Rất cần thiết
thường
PAGE v
Xác định đúng

KOLs phù hợp
với chiến dịch
Báo cáo dữ liệu

real-time
Đánh giá chất

lượng KOLs
Quản lý KOLs
trong quá trình
thực hiện chiến
dịch
Đếm số lượt nhắc

đến thương hiệu
Xem profile của

KOLs
22. Nhu cầu của anh/chị với tính năng mở rộng của nền tảng? (Tính năng tìm người
review/feedback và quản lý bình luận về thương hiệu trên các trang mạng xã hội).
1 2 3 4 5
Chắc chắn không Chắc chắn

sử dụng sử dụng
23. Thái độ và đánh giá chủ quan đối với nền tảng kết nối KOLs và doanh nghiệp. Tôi cho
rằng:
Hoàn toàn Không đồng Bình thường Đồng ý Hoàn toàn

không đồng ý đồng ý
ý
PAGE vi
Sử dụng nền tảng

này là một ý tưởng
hay

này mang lại lợi ích
Bạn bè, đồng nghiệp

khuyên tôi sử dụng
nền tảng này

này là xu hướng
Tôi biết về nền tảng

này nhờ các phương
tiện truyền thông xã
hội.
Các khuyến khích từ

truyền thông khiến
tôi nghĩ rằng cách
hiệu quả hơn để kết
nối với KOLs là
thông qua các nền
tảng kết nối KOLs
với doanh nghiệp (so
với cách truyền
thống)
PAGE vii
Appendix 2: Survey results

1. How long is your business running?
2. The scale of the business you are working for?
3. What type of business are you working for?
4. Does your business already use influencer marketing?
PAGE viii
5. If so, do you find influencer marketing effective?
6. Do you intend to use it again?
PAGE ix
7. How many KOLs will you use in a marketing campaign?
8. What type of KOLs do you want to use?
PAGE x
9. Current business expenditure committee what percentage influencer marketing budget

for marketing?
10. What sources/channels do you look for KOLs?
PAGE xi
11. What are your criteria for selecting KOLs?
12. Hard in working with KOLs?
13. What are your problems with working with a third party to connect with KOLs?
PAGE xii
14. What are the challenges of working with a platform that connects KOLs with businesses?
15. Do you need to use a platform to connect and manage KOLs for your business in the
future?
16. The must-have basic features of a KOLs business-to-business platform.
PAGE xiii
17. Your need for the platform's extensive functionality? (The feature to find
reviewers/feedback and manage brand comments on social networking sites)
18. If not, would you like to use influencer marketing within the next 1 year?
PAGE xiv
19. How many KOLs will you use in a marketing campaign?
20. The subjective attitude and assessment towards the KOLs and business networking
platform.
PAGE xv
Appendix 3: Detailed Marketing KPIs
Phase 1:
Phase 2:
PAGE xvi
Phase 3:
Phase 4:
PAGE xvii
Appendix 4: Website Dashboard
1. Daily report
PAGE xviii
PAGE xix
2. KOLs finding
PAGE xx
PAGE xxi
PAGE xxii
3. KOLs matching
PAGE xxiii
PAGE xxiv
PAGE xxv
PAGE xxvi
4. KOLs profile
PAGE xxvii
PAGE xxviii
5. Management
PAGE xxix
PAGE xxx
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PAGE xxxv

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PAGE i

GRADUATION THESIS | KOLs HUB

Bachelor of Business Administration Thesis

The platform connects SMEs with Micro and Nano Influencers

Group Members: Trinh Thi My Linh (*) SS130057

Supervisor: Mr. Du Tieu Duong

Ho Chi Minh, December 2020

ACKNOWLEDGE .................................................................................................................... iii

Vietnam social network overview ..................................................................................... 27

1.1 Company Structure ......................................................................................................... 60

2. Startup Expenses and Capitalization ..................................................................................... 99

Table 1 - The explanation of these five algorithms ................................................................... 11

Table 16 - The brief version of phase 2..................................................................................... 90

1.1 Project background

Figure 1- The trend of Print ads apps and Influencer Marketing

Source: Google Trends

1.2 Market problem identification

1.3 Diversion Effort

2.1 Website User Flow Diagram

2.1.1 Brands flow diagram

Figure 2 - Brands flow diagram

2.1.2 Influencers flow diagram

Figure 3 – Influencer flow diagram

2.2 Features specification

Figure 4- KOLs HUB Matching

Ordinary Least Squares Regression

Naive Bayes Classification

Naive Bayes classifiers are a genus of simple probabilistic

Support Vector Machines (SVM)

Support Vector Machines (SVM) is a binary

Table 1 - The explanation of these five algorithms

SS = 0.343 * AD + 0.097 * FL + 0.003 * CQ + 0.229 * IF + 0.071 * ER

Figure 5 – Building core technology of KOLs HUB

2.2.2 KOL profiles

Figure 6 – KOLs profile

2.2.3 KOLs finding

Figure 7 – KOLs HUB Finding

2.2.5 Daily report

Figure 9 – KOLs HUB Daily report

2.3 Product Development Roadmap

Table 2 - New product development roadmap of KOLs HUB

2.3.1 Phase One (5 months)

❖ Concept 2: an influencer marketing solution that can eliminate influencer fraud;

❖ Profile data and influencers posts on social networking sites

Figure 10 - Process on Google AI

2.3.2 Phase Two (7 months)

ML pipeline automation: Perform continuous model training by automating the ML pipeline,

Figure 11 - ML pipeline automation

Figure 12 - CI/CD pipeline automation

2.3.3 Phase Three (2 years)

2.3.4 Phase four (3 years)

2.3.5 Future roadmap

Chapter 2: Market analysis

1. Market trend analysis

1.1 Industry background

Vietnam social network overview

Figure 14 - Top five most-used social media platforms

Source: Hot site, We Are Social 2020

Source: Vero ASEAN

Influencer marketing in Global and Vietnam

Figure 16 - Search for Influencer Marketing over the last 3 years

Figure 17 - Similar trend search for Influencer Marketing in Vietnam

Source: Google Trends

Figure 18 - Distribution of spending by industries