20+ Reasons B2B Brands Are Increasingly Moving To Influencer Marketing
By Lane Ellis
Why are B2B brands increasingly turning to influencer marketing?
B2B influencer marketing is the business-oriented cousin to the B2C Instagram entertainment and lifestyle influencer. In B2B, some influencers go by creators, subject matter experts, industry experts, or other terms that disassociate them from the B2C influencer.
Whichever term is used, B2B influencer marketing provides an ideal way to combat disintegrating brand trust, so it’s no wonder that by the end of 2022 the B2B influencer marketing vertical is expected to reach $11.7 billion in revenue, with over 38 percent of B2B firms exploring influencer marketing for lead-generation and more, according to AdAge.
B2B influencer marketing is a many-faceted digital diamond that when done well shines brightly, however brands need to be wary of treating it like its vastly different B2C counterpart.
Let’s take a look at 20-plus advantages that B2B influencer marketing holds over traditional marketing strategies.
B2B Influencer Marketing Offers Key Advantages
New analysis published in the Harvard Business Review has shown that average brand boost could reach 16.6 percent by properly utilizing influencer marketing, with influencer originality accounting for a 15.5 percent rise in return on investment (ROI).
B2B marketers have said that influencer marketing will be among their three top priorities in the next three to five years, as 59 percent of marketing leaders noted that they considered B2B influencer marketing a priority today, and 64 percent pinpointing it as a top priority over the upcoming three to five years, according to recently-released survey data from the Association of National Advertisers (ANA).
The academic world has also begun to take notice of the power of B2B influencer marketing, such as the comprehensive “B2B Influencer Marketing: Conceptualization and Four Managerial Strategies” study recently-published by Science Direct / Elsevier, including numerous citations to our own groundbreaking first industry B2B Influencer Marketing Research Report.
Social media publications are also increasingly becoming aware of B2B influencer marketing, such as Social Media Today’s recent article “15 Ways the B2B Influencer Marketing Industry is Changing [Infographic],” featuring our own latest infographic filled with data from our newest free 59-page 2022 B2B Influencer Marketing Research Report.
Influencer marketing has emerged as a key way that B2B brands can get the most marketing bang for their buck and help recession-proof marketing strategy. U.S. organizations are expected to spend $6.16 billion on influencer marketing during 2023, climbing from the $5 billion seen during 2022, as influencer marketing has been more resilient than other forms of marketing, with influencer marketing budgets staying strong, according to recently-published forecast data from Insider Intelligence.
Enduring Relationships & Increased Thought Leadership
B2B influencer marketing helps build successful and lasting relationships, as our CEO Lee Odden recently explored in a fascinating podcast with Justin Levy, director of social and influencer marketing at Demandbase, in “ …read more
Source:: Top Rank Blog
