By Harry Mackin

Here at TopRank Marketing we do more than just plan and execute B2B influencer marketing programs. We also conduct research on the state of B2B influencer marketing at companies across multiple industries. 

The statistics and trends surfaced by this report and the iterations that preceded it are incredibly valuable for any B2B marketer looking to start or expand an influencer marketing program. 

Let’s take a look at some of the highlights from our research and that of others in the industry. 

Influencer marketing is taking root 

While influencer marketing isn’t new, its prevalence among B2B marketers certainly is. In fact, it wasn’t so long ago that a small but wise minority of marketers recognized how important influencer partnerships are. As recently as 2020, only 34% of B2B marketers said they used influencer marketing. The next year that number ticked up to 46%.

More recently, influencer marketing has become a standard part of the B2B marketing mix. Our most recent Influencer Marketing Report found 85% of B2B marketers emphasize the importance of influencer marketing in their suite of tactics. 

Influencer marketing contributes to success 

According to Forbes, 94% of B2B marketers say influencer marketing is a successful strategy. This is up significantly from last year. This level of confidence is an improvement from the already positive feelings for influencer marketing of last year, when our 2022 Influencer Marketing Report revealed that 86% of marketers found their influencer marketing to be either moderately or very successful. 

To put this confidence in perspective, respondents to our 2023 survey told us that influencer marketing contributes even more to the success of their marketing programs than social media marketing or content marketing. 

When asked “Which of the following contributes most to the success of your marketing programs?” marketers responded:

• Search Engine Optimization (49%)
• Influencer Marketing (39%)
• Social Media Marketing (36%)
• Content Marketing (36%)

But just how successful are these programs? Research from Zen Media found that as of 2022, B2B influencer marketing programs were generating a 520% return on investment (ROI). Of course, this ROI is not guaranteed, but averaging $5.20 for every dollar spent very effectively demonstrates the real, measurable impact influencer marketing can have for B2B brands. 

Maturity of B2B influencer marketing programs 

Because it is still relatively new to most B2B marketers, it may not come as a surprise that influencer marketing programs vary widely in their level of maturity. Our research divided influencer marketing maturity into four groups: beginning, moderate, extensive, and those who do not use influencer marketing at all. 

In 2023, our research reveals that most B2B marketers fall somewhere in the middle of their influencer marketing …read more

Source:: Top Rank Blog

Author: Aaron