For a long time, influencer marketing has been thought of as a purely B2C endeavor. It’s easy to understand why – for most, Instagram creators promoting fashion or lifestyle brands to their followers, or video game promos in YouTube videos may come to mind. And while B2C is still the dominant force in the influencer marketing industry, the B2B space is rapidly catching up; many are starting to recognize the immense potential of working with industry experts and thought leaders to drive brand awareness, establish credibility, and ultimately generate leads and sales.
However, B2B influencer marketing requires a strategic approach tailored to the unique dynamics of this market. This comprehensive guide explores actionable tips and best practices to help you plan and execute a successful B2B influencer marketing campaign and make the most of this exciting form of marketing.
The Power of B2B Influencer Marketing
Let’s go over a few basics first, to help illustrate exactly why influencer marketing can be beneficial for B2B brands.
Boosting brand awareness and credibility: Partnering with respected figures in your industry instantly elevates your brand image. Their endorsement validates your brand message and builds trust with potential customers. Picture, for example, a cybersecurity company collaborating with a renowned security expert on a webinar. The expert's reputation automatically lends credibility to the company's solutions.
Reach targeted audiences: Influencers have built up dedicated followings within specific niches. As such, partnering with the right influencers allows you to tap into a highly relevant audience that is already open to receiving your message.
Generate high-quality leads: Effective influencer marketing leads to increased engagement and, ideally, compels viewers to learn more about your brand. Think about an influencer showcasing a project management tool on their YouTube channel, complete with a call to action to download a free trial. This direct push can funnel new users your way.
Now that we’ve established the value that B2B marketing can bring, let’s go over 7 crucial tips that I think contribute to a winning strategy.
Selecting the right influencers
HypeAuditor's Influencer Discovery tool
Why it matters
One of the most critical aspects of a successful B2B influencer marketing campaign is selecting the right influencer. In the B2B space, the focus should be on finding influencers who align with your brand's values and have your potential clients among their audience, above all else. The partnership can lend credibility and trust to your brand, making it easier for potential customers to connect with your message.
Action step
When evaluating potential influencers, set aside traditional metrics like engagement rates, follower growth patterns, and other usual metrics – they don’t matter too much in this case. Instead, focus on checking if the influencers you're considering are followed by, or even better, engaged with (through likes or comments), your potential customers. Look for influencers who have established themselves as thought leaders in your industry and have a track record of providing valuable insights and content.
Example: A software company targeting CIOs might look for influencers who frequently post about IT trends and have a significant following of IT professionals on LinkedIn.
Choosing the most effective platform for engagement
Why it matters
Not all social media platforms are made the same, and this is especially true for B2B influencer marketing. Choosing the right platform can significantly impact the success of your campaign, as each platform offers its own pros and cons for effectiveness. Different platforms cater to different audiences and content formats, so it’s essential to research and go with the platform that best suits your target audience and campaign objectives.
Action step
LinkedIn is naturally widely regarded as the top platform for B2B influencer marketing, as it is a professional network where industry experts and decision-makers congregate. If your campaign involves video content, however, then YouTube could be a viable choice. While platforms like TikTok and Instagram offer opportunities, take the time to check whether they align with your target audience and campaign goals before investing resources into them.
Example: Hootsuite, a leading social media management platform, took to LinkedIn for a B2B influencer campaign by collaborating with appropriate creators on the platform. These creators shared valuable content about social media trends and best practices, engaging with Hootsuite's target audience of social media managers and marketers.
Analyze competitors to inform your strategy
HypeAuditor's Competitor Analysis tool
Why it matters
Researching your competitors' influencer marketing strategies can provide valuable insights and help you craft a more effective approach. In fact, understanding what your competitors are doing is one of the most effective ways to identify gaps and opportunities in the market. If you notice that your competitors haven’t adopted B2B influencer marketing effectively, this opens up a great opportunity for you to gain a competitive advantage.
Action step
Conduct a thorough analysis of your competitors' influencer marketing campaigns. Identify the influencers they work with, the content formats they use, and the platforms they target. Evaluate the performance of their campaigns and identify areas where they excel or fall short. Seize the opportunity to be an early adopter and establish a strong presence in this space, if you find that your industry lacks it.
Example: Analyzing a competitor’s use of webinars hosted by industry experts can highlight the potential for your brand to use a similar strategy, perhaps with a focus on different topics or a more interactive format.
Measuring (or estimating) your campaign's impact
Why it matters
Measuring the success of a B2B influencer marketing campaign can be challenging since, as we mentioned earlier, traditional metrics like engagement rates and follower growth may not accurately reflect the impact on your business objectives. Without proper measurement and evaluation, it becomes difficult to assess the effectiveness of your influencer marketing efforts and make data-driven decisions for future campaigns.
Action step
Consider metrics like win rate, sales cycle velocity, and customer acquisition cost. These metrics provide a more comprehensive view of the campaign's impact on your bottom line. Additionally, factor in the length of your sales cycle when evaluating the success of your campaign. B2B sales cycles can be lengthy, and the impact of your influencer marketing efforts may not be immediately apparent.
Example: A B2B tech company might track how an influencer campaign affects lead quality and conversion rates over a six-month period, rather than just looking at immediate engagement.
Co-creating content
Why it matters
One of the ways to make the most of B2B influencers is through co-created content. Working with influencers to produce high-quality, informative content allows you to benefit from their expertise and credibility while at the same time providing value to your target audience. This type of content can take on many forms, such as whitepapers, webinars, podcasts, or even product demonstrations. When an influencer lends their voice and expertise to your content, it instantly gains more credibility and authority in the eyes of your potential customers.
Action step
Identify subject matter experts in your industry that have a strong content creation track record. Reach out to work with them on content that addresses the pain points and challenges faced by your target audience. Promote this co-created content through your channels and encourage the influencer to share it with their audience as well. This cross-promotion can amplify the reach and impact of your content.
Example: A cybersecurity firm could partner with a well-known cybersecurity expert to create a webinar series addressing the latest threats and best practices, distributing it through both the firm's and the expert's networks.
Building long-term influencer relationships
Why it matters
While one-off influencer campaigns can be effective, building long-term relationships will change the game for your B2B brand. Establishing long-term working relationships with influencers allows you to continually build and reinforce the image of your brand with their audience over time, establishing a solid sense of brand loyalty. As the relationship deepens, the influencer will also become more naturally invested in your brand's success, and their endorsement carries even more weight with their followers.
Action step
Identify influencers who align closely with your brand values and target audience, and nurture those relationships through regular communication, collaboration opportunities, and mutual support. Treat influencers as valuable partners, not just temporary contractors. Involve them in your brand's initiatives, seek their input, and provide them with exclusive access or opportunities. Doing so will eventually lead to creating a powerful network of advocates for your brand.
Example: A marketing automation company might establish an ongoing partnership with a digital marketing thought leader, involving them in product launches, exclusive events, and co-branded content initiatives.
Navigating compliance and disclosure requirements
Why it matters
As B2B influencer marketing continues to grow, it's essential to stay compliant with relevant regulations and industry guidelines regarding disclosure and transparency. Failure to comply with disclosure requirements can damage your brand's reputation and erode trust with your audience. Additionally, regulatory bodies may impose fines or other penalties for non-compliance.
Action step
Familiarize yourself with the relevant guidelines and regulations governing influencer marketing in your industry and region. Ensure that all influencer partnerships and content are clearly disclosed as sponsored or paid promotions. Provide clear guidelines to your influencer partners on disclosure requirements and monitor their content to ensure compliance. Additionally, consider implementing internal policies and procedures to ensure consistent adherence to disclosure standards across all influencer marketing initiatives.
Example: A pharmaceutical company might work closely with legal and compliance teams to ensure that all influencer partnerships follow FDA guidelines for promoting healthcare products.
Conclusion
I hope that the tips and steps outlined in this guide can offer you a renewed sense of confidence when it comes to B2B marketing, helping you to create campaigns that click with your target audience, align with your brand values, and ultimately contribute to your overall business objectives. A well-executed strategy with constant efforts to improve will be invaluable for your brand in an increasingly competitive market.
