  Indonesian Ministry of Finance had endorsed 10 Key Opinion Leaders to help
promoting government retail bonds SBR011 during selling period of 25 May-16
June 2022. This study analyzed effectiveness of the endorsement by using
several indicators; engagement rate, enthusiasm rate and sentiment analysis of
feedbacks from KOL audiens. Data was gathered from social media Instagram and
TikTok social platform used by the KOL to post their marketing contents. This
paper found that the endorsement is quite effective to promote the SBR011 and
yields mostly positive feedback on the marketing campaign.
