What you need to understand about B2B influencer marketing before tackling it
In this digital age where businesses are constantly looking to decrease marketing costs and increase campaign effectiveness, it is no wonder why there has been such a boom in the use of influencer marketing.
Traditional methods, such as paid advertising, are costly and not nearly as effective as they once were. This is because 92% of people trust recommendations from other people, and the internet provides consumers with immediate access to the opinions and advice of influencers that they trust. This leaves them much less willing to make decisions based on a brand’s message alone.
Because of this, businesses have started to capitalize on this word-of-mouth strategy as a means of carrying their message, while simultaneously enjoying increased web traffic and engagement, and much higher sales volumes.
Although it’s easy to disregard influencer marketing as an effective tool in the B2B space due in large part to the rising popularity of consumer-centric influencer promotion, word-of-mouth is even more impactful for B2B. Basically, B2B purchases would almost cease to exist without it, because companies historically don’t make buying decisions based on a piece of marketing collateral. Decision makers instinctively rely on peer reviews and industry experts before buying a B2B product or service.
If you are a business operating in the B2B space, you may find yourself feeling envious of the endless opportunities for those in B2C using influencers to help carry their brand’s message to the masses. Unfortunately, it’s not likely that you’ll align yourself with an influencer who can include a quick photo of your virtual reality software company and drive high levels of revenue, just like that.
A B2B sales cycle is much more intricate than clicking through to a website and making a purchase, so it makes sense that a B2B influencer marketing strategy will look different than that of one focused on selling directly to consumers.
Here are just a few things to understand about B2B influencer marketing.
It takes longer
One of the main differentiating components of a B2B transaction from a consumer-facing transaction is the number of layers that it has to go through before a decision can be pushed through.
Stakeholders and decision makers all require a touchpoint which makes the B2B sales process much longer. This also makes the effectiveness of an influencer campaign a little less immediate, since it takes a significant amount of time for an influencer to make an impact on each of those levels.
As a general rule, it takes about six months to see results from a B2B influencer campaign. When compared to a B2C influencer campaign, which generally only takes 30 days to yield results, it may seem like the juice isn’t worth the squeeze, but keep in mind, 90% of business decision makers sign on the dotted line after seeking direction from those that they deem experts in the industry.
Your influencers are different
Locating your B2B influencers looks much different than unearthing those for B2C, who’s main point of attraction focuses on general popularity and high follower counts. For B2B, influencers who are highly credible in your industry are your golden ticket to a successful campaign. B2B transactions can look like multi-million-dollar sales, so the influencer that you choose to recommend those products or services needs to have some serious industry clout in order to influence those types of buying decisions.
There are a few groups of people to explore if you are looking for a B2B influencer.
First, take a look at the thought leaders in your industry. By definition, a thought leader or consummate industry expert already has the attention and respect of your peers and desired customer-base. Their recommendations can carry a significant amount of weight, so aligning yourself with the right thought leader can give your product or service the attention it deserves.
If you want to create your own thought leader, then turn your gaze inward. Internal employees are a wonderful resource for industry and product knowledge, and nobody makes a better advocate than someone who understands the details of your company offerings. Plus, creating your own thought leaders keeps the focus on you and ensures a very streamlined conversation.
Past and existing customers also make some of the best brand advocates. They are able to vouch for not only the product or service that they bought, but also the overall user experience that they had while working with your company. Remember, almost all business decisions are made after seeking third party recommendations, and customer testimonials have shown to be some of the most successful in influencing a transaction.
Big benefits
While the strategy and influencers may look different for B2B than it does for B2C, you can still expect similar, seismic benefits.
Endorsements from the right advocate with the right amount of social media savvy will extend your company reach and brand awareness to their readership and followers. You can expect increased SEO through inbound links, and higher levels of customer engagement in the form comments and content shares. And perhaps most importantly, you will receive credibility and create a foothold as a leader in your industry, making you the obvious choice over your competitors.
Although influencer marketing it relatively new in the B2B space, it is becoming more widely used as our understanding of its application continues to grow. Stay ahead of this trend and be diligent about incorporating influencer marketing into your overall strategy. Remember, thought leadership continues to be one of the most important components of this particular method of inbound marketing, so make sure to lean on your expertise to inform your approach.
Learn more about integrating influencer marketing into your B2B inbound strategy.