86% of B2B Marketers are Finding Success In Influencer Marketing

Over the last few years, the marketing landscape has changed dramatically. This is partially due to the recent Global pandemic as well as the rise and fall of economic volatility.

In light of these changes, consumers have taken to social media more than ever before to discover new products and services online. Brands worldwide have been taking advantage of influencer marketing for B2C products and services in nearly any niche one can think of.

But what about B2B markets? How do they fit in?

With ad spend constantly climbing and competition flooding the marketplace, it’s no wonder B2B marketers are getting creative with how they engage with their audience.

Let’s dig into the new numbers, recommended strategies, and influencers brands should be following.

The B2B Influencer Study

In a new market study, it was revealed that 86% of B2B marketers are working with B2B influencers and finding great success.[1]

This research also revealed that while B2B influencer marketing continues to get traction across niches though the common denominator seems to be a lack of clear strategy. In fact, 48% of B2B marketers reported this was their primary obstacle in B2B marketing.[2]

Despite the lack of a clear plan, this has not deterred the belief in how effective influencer marketing is for B2B brands. Of marketers pulled, 85% of respondents predicted an increase in working with B2B influencers for the next year, and more than 50% believe the budget for influencer marketing will increase to match.[3]

Over 95% of brands already using influencer marketing believe it has moved the needle on at least one marketing goal, including enhancing brand reputation and increased visibility. Roughly 30% of the respondents reported an increase in sales and revenue.[4]

Why Influencer Marketing Is Critical For B2B Brands

This data tells a powerful story of how influencer marketing is changing the landscape of how not only consumers interact with brands but other businesses as well. When one does the math, it becomes painfully obvious that the average lifetime value of a B2B customer is much higher than that of a B2C customer.

How much more valuable would that B2B customer be when the discovery process started with a trusted word-of-mouth source? Now, we’re starting off with a stronger connection and a higher level of trust that’s already pre-set before the customer ever interacts with the band directly.

The life cycle of the sales process for a B2B brand is much longer than when selling to consumers. Influencer marketing has the potential to spark that sales process quicker and generate higher-quality connections.

B2B Influencer Marketing Framework

Here are some ideas to get started on executing a B2B influencer marketing strategy for brands in any niche.

Start With A Clear Objective

Due to the nature of B2B marketing, the objective of content in this space is to educate and establish authority and trust with multiple layers of decision-makers. From C-suite executives down to line-level employees and managers, the solution must appeal to every member involved in the decision-making process.

When developing the campaign objectives for B2B influencer marketing strategies, determine whether the brand is attempting to increase brand visibility, generate engagement, or boost sales and conversions. This will lead the asset creation process with the influencer and begin to shape execution strategies.

Look For Established Niche Ambassadors

Look for existing connections with influencers who already advocate for the brand rather than starting completely from scratch. Analyze the brand’s own customer base and look for B2B influencers already hard at work in their sphere. Always look for one that shares enough of a target audience.

Don’t Focus On Vanity Metrics

While follower count and likes look good on the influencer resume, brands must dig deeper to find a true match. The real metrics that matter are related to engagement and conversion. Evaluate how well the influencer communicates with their audience and what kind of traction their sponsored posts get.

Educate The Influencer On Products and Services

Take the time to train the influencer properly on how to talk about products and services. If this is the first B2B influencer partnership, create a standard operating procedure on how to move a new influencer through the business to ensure clarity in marketing execution.

Treat The Influencer As A Professional Consultant

B2B influencer marketing is not an overnight success strategy. It takes time to develop working Partnerships, negotiate contracts, and develop a long-term strategy where everyone wins.

Consider this partnership as one would any other professional consultant. When paying for their expertise and sure that marketing teams are listening.

This process can be streamlined when working with an influencer marketing agency that already has these relationships established and processes in place for smooth operations and that has proven past successes.

Collaborate On Content Execution

Many brands aren’t used to handing over the reins to someone outside of their team. B2B influencer marketing requires a level of trust and confidence in the content creator to deliver assets and inspiration that fits the brand’s overall goal.

Consider the future options for collaborating on actual products and services as well. The influencer brings their unique industry insights to the table and can offer valuable data related to what B2B brands are looking for and what problems they need to solve.