420% ROI: Why B2B influencer marketing can’t be ignored

This number might seem surprising, but a study by InfluencerHub found that companies that invest in B2B influencer marketing see a $5.20 return for every $1 spent. B2B influencer marketing goes beyond what most of us assume is “celebrity” endorsements. Instead, it leverages the power of industry thought leaders and experts who share your target audience’s specific challenges and interests.

In 2023, Shopify partnered with its successful store owners to promote POC Go, a device that lets offline stores take payments anywhere. These “influencer” store owners shared their success using POC Go, attracting new customers with real-life stories and tips. By July 2023, Shopify’s campaign boosted brand awareness and sales, generating $3.2 billion and over 1,000 app purchases.

Creativity and storytelling are essential to business marketing. It’s not what you want to say or what you want to sell. Today, some of the most powerful marketing targets business buyers. And, influencers are uniquely positioned to further humanize brands by connecting directly with an audience and establishing an emotional connection that resonates with customers and builds trust over time.

Customers need to feel understood, valued, and human, but traditional B2B marketing often focuses on products over people. This is why 49% of B2B marketers are now turning to influencers to improve brand credibility and trustworthiness, with 40% seeing increased sales and lead generation as a result. 

Here are five reasons why businesses can’t afford to ignore a B2B influencer strategy.

1. Establishing trust: Capitalize on shared interests to boost brand advocacy and brand reputation 

A shared-interest approach championed by influencers fosters brand advocacy and reputation. Three- quarters (75%) of B2B buyers and 84% of C-level or VP-level executives use social media to make purchasing decisions.  By meeting customers where they are online, brands build trust and credibility, leading to stronger brand advocacy and reputation. 

2. Expanding reach & generating leads: Shared content through new voices expands lead generation opportunities 

Partnering with influencers allows you to amplify your content through new voices, expand your reach and generate more qualified leads. According to Gartner, by 2025, 60% of customers will seek service in third-party sources of information. Integrating influencer endorsements or co-created content allows you to maximize the effectiveness of your traditional marketing channels. 

Some effective B2B influencer marketing tactics to consider include: 

• • Guest blog posts on industry publications
  • Podcast interviews with relevant thought leaders
  • Co-hosting webinars to reach a wider audience
  • Engaging influencers as industry event ambassadors
  • Leveraging influencer endorsements and testimonials
  • Cross-promoting content across brand and influencer networks
  • Encouraging influencer engagement with your brand’s social media posts

3. Strategizing for the Long-Term: Build relationships that lead to long-term scalability 

Building long-term relationships with B2B influencers is crucial for scalable advocacy. According to a study, 56% of CMOs believe that fostering long-term relationships that demonstrate genuine brand advocacy is the most effective way to optimize B2B influencer marketing campaigns. 

4. Driving Revenue: Leverage the right outside talent to advocate for your brand and grow revenue  

The right influencers can significantly boost your revenue by advocating for your brand. Since 75% of B2B buyers rely on social media to inform their purchasing decisions [leveraging the power of brand advocates to promote your product can be highly lucrative. 

5. Unlocking Instagram’s Potential: Instagram’s algorithm prioritizes original content, benefiting B2B thought leaders. 

Instagram offers exciting opportunities for B2B influencer marketing. As of April 2024, Instagram prioritizes original content in its algorithm, benefiting B2B thought leaders, key opinion leaders (KOLs), and brand advocates. This change means B2B influencers who create captivating content can potentially reach a wider audience and educate new prospects about a brand. 

As influencer marketing for B2B continues to grow, brands should actively look for ways to connect with thought leaders in their space and leverage those relationships to build trust and advocacy among key audiences. Business marketing can be fun. But it must be personal to work, and influencers now play a critical role in helping brands connect with buyers. More importantly, the influencer strategy and selection process needs to be looked at through an experience lens. Influencer strategies are not just campaigns, but impactful experiences that resonate deeply with your audience. 

Ready to explore the power of B2B influencer marketing for your brand? Here are the initial steps to take: 

1. 1. Define your target audience and their online habits 
   2. Identify relevant B2B influencers in your industry 
   3. Develop a strategy for building relationships with those influencers 
   4. Craft compelling content ideas that resonate with your audience 
   5. Establish a plan for deployment and measurement 

B2B influencer marketing is a game-changer, delivering impressive ROI and boosting brand credibility. By leveraging industry experts, businesses can build trust, expand reach, and generate valuable leads. As the digital landscape evolves, integrating influencers into your strategy is essential. However, it’s crucial to approach this through an experience lens. Consider how your audiences engage with the brand, the kind of experience you want them to have, and what they will remember, in order to create an authentic connection. By taking a few strategic steps, you can harness the power of B2B influencer marketing and watch your business skyrocket.