Word of mouth has always been one of the best ways of marketing, and influencer marketing is simply the modern day word of mouth, the philosophy behind it remains unchanged.
Influencers bridge a gap between customers and your brand and B2B influencers can be found everywhere. They are CEOs, employees, experts in their industry and influencing is probably not their day job. Generally they are not celebrities or even necessarily well known outside of their field.
B2B influencer marketing has as much potential today and it always had, but today we use social media platforms, blogs and podcasts. Take a look at the these top B2B influencer marketing stats and you’ll see why it’s working for B2B businesses.
B2C versus B2B
When it comes to the split, 69% focus on B2C and 31% on B2B influencers. Let’s put that into perspective; with the influencer industry having growth estimates as high as $15 billion in 2020, 31% of that market is not to be overlooked.
B2B Influencer Impact
91% of B2B purchase decisions are influenced by word of mouth. Think about it for a moment…if you’re in business and someone who is successful within your industry tells you something, an element of trust already exists. Although, it’s important to note that the average B2B Influencer Campaign should not expect results within 6 months.
Grow with B2B Influencers
In 2019 almost 50% of businesses planned to integrate Influencer marketing to grow their business. In 2020, 65% of influencer marketing budgets will increase. This is where a strategy is essential, in order to be successful within B2B territory, campaigns must go beyond a ‘paid post’. Large companies have nearly doubled the amount of creators they activate per campaign in the past 2 years.
B2B Influencer Platforms
The world average of active social media users is 81%, whereas 91% of podcast listeners are active on social media. Podcasts make advertising which is 60% more ‘influential’ than any other medium – a captivated listener is more likely to convert. Put yourself in the shoes of your target audience, where are they hanging out? Think beyond the social networking platforms to industry blogs and podcasts.
B2B Influencers on Instagram
B2B companies are also realising the value of collaborating with influential experts on Instagram. When it comes to B2B influencer marketing stats, its probably not a surprise that 93% of overall influencer marketing is happening on Instagram. It’s an opportunity for B2B brands to utilise the visual marketing channel further.
Only 14% of influencers are currently fully compliant with FTC/CMA (Competition Markets Authority) UK guidelines. Influencer marketing is becoming a business in itself, so when connecting with potential industry influencers be aware. Influencer fraud is of increasing concern and more than 2/3 have experienced influencer fraud.
Influencer Marketing Budgets
The majority (55%) admit to having a standalone budget for content marketing. Nearly 4/5 of respondents intend to dedicate a budget to influencer marketing in 2020, with 80% of firms taking their influencer marketing spend from their marketing budget.
Is Influencer Marketing for you?
Influencer marketing is the fastest-growing online customer-acquisition method. Still not convinced, well you’re not alone. One of the most interesting B2B influencer marketing stats is that only 15% of brands have employed the use of influencers of any kind.
Now that sounds like an opportunity! Is B2B influencer marketing right for your business?
(Sources: Business Insider & Influencer Marketing Hub Report 2019/2020)