Influencer marketing spend is set to hit $21.1 billion in 2023, up from just $16.4 billion in 2022. The growth in influencer marketing spend demonstrates how critical it has become to everyday marketing strategies, as customers increasingly turn to influencers to help solve their purchasing problems. As the customer decision-making journey continues to shift, buyers are spending more time looking for help and searching for information, and influencers can provide it. A successful marketing campaign will provide answers for those customers throughout this journey, and influencer marketing is by far one of the most effective ways to do this.
But how does this all work within the B2B domain?
B2B influencer marketing is becoming crucial to those looking for expert content to assess their intention behind the purchase and the service or product behind it. Compared to product descriptions that customers can find on the company’s website, for example, content shared by insiders of the industry has the potential to be more trustworthy and authentic. The large strata of buyers are providing content to the industry, as influencers help increase the credibility of the brand rather than the details offered by the classic sales team.
And when we look at the figures – just this week – Ogilvy’s ‘InfluencingBusiness’ report showed that three-quarters of B2B marketing chiefs are investing in influencer marketing as a comms tool. The report draws on a survey by Opinium of 550 senior marketing figures in11 countries, including the UK and US, and shows the extent to which influencers are being used. An astounding 75% of respondents are already using B2B influencer marketing– with 93% planning to increase their use of influencers. And, of minority who do not currently use influencers, more than half plan to in the future, it says.
While it might seem like a booming business, the research findings suggest that teams have not yet fully harnessed the power of post-sale influence, despite 47% acknowledging the potential for B2B influencers to have the greatest impact in post-sale interactions when executed effectively. 60% of respondents noted still not experiencing enhanced lead generation from their B2B marketing endeavors, which poses a significant opportunity to realize greater value from B2B influencer marketing immediately.
So, what first steps can we take to unlocking the potential of B2B Influencer Marketing?
1. Peer-to-peer 2.0
Recognized as the most trusted and effective marketing channel, this approach holds enormous value in reassuring potential buyers.
As we move toward an era where 75% of the workforce will be digital natives by 2025 (Harvard Business Review), businesses must adapt to the new reality of digital relationships and professional communication, which are becoming increasingly integrated with the physical realm.
2. Holistic growth
Influencers are more than content conduits meant solely for promoting products to new audiences. The research highlights how broad business growth can be achieved by incorporating influencers across the entire business spectrum, from involving them in client meetings and engaging them in conversations with employees to including them in research and development sessions for product and service improvement.
CMOs should recognize that influencers not only drive views and likes but also foster sustainable business growth by delivering better service, leading to increased sales and client retention rate. Notably, 44% of CMOs acknowledged that integrating B2B influencers into post-sale experiences represents the most significant untapped opportunity.
3. Employees as influencers
Business success is not solely dependent on accurate balance sheets, the latest CRM systems, or even the charisma of company founders. 90% of c-suite executives recognize employees as their most valuable assets. The collective network of a company's employees is, on average, 10x larger than the company itself.
Galvanizing programs like an employee advocacy network can not only enable brands to access this resource in a genuine way but also enforce a sense of appreciation amongst employees, improving retention long-term.
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Influencer marketing spend is set to hit $21.1 billion in 2023, up from just $16.4 billion in 2022. The growth in influencer marketing spend demonstrates how critical it has become to everyday marketing strategies, as customers increasingly turn to influencers to help solve their purchasing problems. As the customer decision-making journey continues to shift, buyers are spending more time looking for help and searching for information, and influencers can provide it. A successful marketing campaign will provide answers for those customers throughout this journey, and influencer marketing is by far one of the most effective ways to do this.
But how does this all work within the B2B domain?
B2B influencer marketing is becoming crucial to those looking for expert content to assess their intention behind the purchase and the service or product behind it. Compared to product descriptions that customers can find on the company’s website, for example, content shared by insiders of the industry has the potential to be more trustworthy and authentic. The large strata of buyers are providing content to the industry, as influencers help increase the credibility of the brand rather than the details offered by the classic sales team.
And when we look at the figures – just this week – Ogilvy’s ‘InfluencingBusiness’ report showed that three-quarters of B2B marketing chiefs are investing in influencer marketing as a comms tool. The report draws on a survey by Opinium of 550 senior marketing figures in11 countries, including the UK and US, and shows the extent to which influencers are being used. An astounding 75% of respondents are already using B2B influencer marketing– with 93% planning to increase their use of influencers. And, of minority who do not currently use influencers, more than half plan to in the future, it says.
While it might seem like a booming business, the research findings suggest that teams have not yet fully harnessed the power of post-sale influence, despite 47% acknowledging the potential for B2B influencers to have the greatest impact in post-sale interactions when executed effectively. 60% of respondents noted still not experiencing enhanced lead generation from their B2B marketing endeavors, which poses a significant opportunity to realize greater value from B2B influencer marketing immediately.
So, what first steps can we take to unlocking the potential of B2B Influencer Marketing?
1. Peer-to-peer 2.0
Recognized as the most trusted and effective marketing channel, this approach holds enormous value in reassuring potential buyers.
As we move toward an era where 75% of the workforce will be digital natives by 2025 (Harvard Business Review), businesses must adapt to the new reality of digital relationships and professional communication, which are becoming increasingly integrated with the physical realm.
2. Holistic growth
Influencers are more than content conduits meant solely for promoting products to new audiences. The research highlights how broad business growth can be achieved by incorporating influencers across the entire business spectrum, from involving them in client meetings and engaging them in conversations with employees to including them in research and development sessions for product and service improvement.
CMOs should recognize that influencers not only drive views and likes but also foster sustainable business growth by delivering better service, leading to increased sales and client retention rate. Notably, 44% of CMOs acknowledged that integrating B2B influencers into post-sale experiences represents the most significant untapped opportunity.
3. Employees as influencers
Business success is not solely dependent on accurate balance sheets, the latest CRM systems, or even the charisma of company founders. 90% of c-suite executives recognize employees as their most valuable assets. The collective network of a company's employees is, on average, 10x larger than the company itself.
Galvanizing programs like an employee advocacy network can not only enable brands to access this resource in a genuine way but also enforce a sense of appreciation amongst employees, improving retention long-term.
Influencer marketing spend is set to hit $21.1 billion in 2023, up from just $16.4 billion in 2022. The growth in influencer marketing spend demonstrates how critical it has become to everyday marketing strategies, as customers increasingly turn to influencers to help solve their purchasing problems. As the customer decision-making journey continues to shift, buyers are spending more time looking for help and searching for information, and influencers can provide it. A successful marketing campaign will provide answers for those customers throughout this journey, and influencer marketing is by far one of the most effective ways to do this.
But how does this all work within the B2B domain?
B2B influencer marketing is becoming crucial to those looking for expert content to assess their intention behind the purchase and the service or product behind it. Compared to product descriptions that customers can find on the company’s website, for example, content shared by insiders of the industry has the potential to be more trustworthy and authentic. The large strata of buyers are providing content to the industry, as influencers help increase the credibility of the brand rather than the details offered by the classic sales team.
And when we look at the figures – just this week – Ogilvy’s ‘InfluencingBusiness’ report showed that three-quarters of B2B marketing chiefs are investing in influencer marketing as a comms tool. The report draws on a survey by Opinium of 550 senior marketing figures in11 countries, including the UK and US, and shows the extent to which influencers are being used. An astounding 75% of respondents are already using B2B influencer marketing– with 93% planning to increase their use of influencers. And, of minority who do not currently use influencers, more than half plan to in the future, it says.
While it might seem like a booming business, the research findings suggest that teams have not yet fully harnessed the power of post-sale influence, despite 47% acknowledging the potential for B2B influencers to have the greatest impact in post-sale interactions when executed effectively. 60% of respondents noted still not experiencing enhanced lead generation from their B2B marketing endeavors, which poses a significant opportunity to realize greater value from B2B influencer marketing immediately.
So, what first steps can we take to unlocking the potential of B2B Influencer Marketing?
1. Peer-to-peer 2.0
Recognized as the most trusted and effective marketing channel, this approach holds enormous value in reassuring potential buyers.
As we move toward an era where 75% of the workforce will be digital natives by 2025 (Harvard Business Review), businesses must adapt to the new reality of digital relationships and professional communication, which are becoming increasingly integrated with the physical realm.
2. Holistic growth
Influencers are more than content conduits meant solely for promoting products to new audiences. The research highlights how broad business growth can be achieved by incorporating influencers across the entire business spectrum, from involving them in client meetings and engaging them in conversations with employees to including them in research and development sessions for product and service improvement.
CMOs should recognize that influencers not only drive views and likes but also foster sustainable business growth by delivering better service, leading to increased sales and client retention rate. Notably, 44% of CMOs acknowledged that integrating B2B influencers into post-sale experiences represents the most significant untapped opportunity.
3. Employees as influencers
Business success is not solely dependent on accurate balance sheets, the latest CRM systems, or even the charisma of company founders. 90% of c-suite executives recognize employees as their most valuable assets. The collective network of a company's employees is, on average, 10x larger than the company itself.
Galvanizing programs like an employee advocacy network can not only enable brands to access this resource in a genuine way but also enforce a sense of appreciation amongst employees, improving retention long-term.