Influencer marketing in B2B has moved from buzzword to strategic necessity. While platforms like LinkedIn have made influencer-driven campaigns a part of their core offering, and agencies like Ogilvy have championed the concept, the conversation has evolved. It’s no longer a question of “if” influencer marketing works in B2B, but rather “how” it is being successfully integrated into marketing strategies.
Following a deep dive into the B2B Marketing Awards 2024 data, powered by AI analysis, the findings were eye-opening. What was once seen as an experimental tactic has now proven to be a staple in the B2B marketer’s toolkit.
The Rise of Influencer Marketing in B2B Campaigns
In the 2024 awards data, 51.33% of the campaign entries employed influencer marketing in some capacity, a figure that underscores the growing importance of influencer collaboration in B2B. Key trends emerging from this analysis include:
- Key Sectors: Influencer marketing is particularly effective in thought leadership programs, content-driven campaigns, and brand initiatives.
- Top Influencers: Industry experts and C-suite executives are the preferred influencers, adding authority and credibility to campaigns.
- Approaches to Collaboration: Content creation and social media promotion dominate the influencer engagement strategies.
- Budget Allocation: Influencer spend varies greatly, ranging from 3.1% to 53% of total campaign budgets, indicating diverse levels of commitment across different brands.
- ROI Measurement: Successful campaigns are those that measure both engagement and tangible business outcomes, with some able to attribute direct revenue to their influencer efforts.
Prevalence Across B2B Campaigns
The influence of influencers can be seen across several categories, from thought leadership initiatives (88% of which used influencers) to brand-building and creative campaigns (both around 60%). Even omnichannel strategies, traditionally not linked with influencers, have seen a strong uptick in influencer involvement.
Here’s a breakdown of influencer use by category:
- Thought Leadership Programme: 88%
- Content Marketing: 77%
- Brand Initiative: 71%
- Omnichannel Programme: 65%
- Creative Campaign: 63%
- Lead Generation Campaign: 50%
This data reveals that influencer marketing isn’t confined to content creation; it’s a versatile tool, applied across various campaign objectives.
Who Are the Influencers?
The types of influencers integrated into B2B marketing campaigns vary, but there are clear patterns in terms of who gets the nod for these roles.
- Industry Experts and Thought Leaders (70.1%): These individuals bring credibility with their expertise and established authority. A notable example is PwC’s “Take on Tomorrow” podcast, where industry experts contributed insights to drive thought leadership.
- Executives and Leadership Figures (82.2%): CEOs and C-suite leaders bring credibility to campaigns, as seen with EY’s “AI Transformation Experience” at MWC Barcelona, where executives from Aramco Digital played a pivotal role.
- Customer Advocates (89.7%): Customers sharing their experiences are vital in the B2B space, as seen with the 6sense 2023 Inspire UK event, where customer success stories were leveraged to build trust with prospects.
- Employee Ambassadors (50.6%): These internal figures offer a personal touch, providing a behind-the-scenes look into the company’s culture and expertise.
- Traditional Social Media Influencers (2.3%) and Micro-Influencers (0.6%): These influencers are less common in B2B, reflecting the industry’s preference for credibility over mass reach.
Collaboration Approaches: How Influencers Are Integrated
Influencers aren’t just faces for campaigns; they’re collaborators in content creation and amplification. Here’s how influencer campaigns are typically structured:
- Content Co-creation: Featured in 95.4% of campaigns, this includes joint articles, videos, podcasts, and whitepapers, as seen with SAP Concur’s influencer program that spanned multiple sectors.
- Social Promotion: Influencers share campaign content through their own channels (LinkedIn, Twitter), extending the campaign’s reach. For example, Honeywell’s campaign achieved a 1.31% engagement rate through influencers on LinkedIn.
- Speaking Engagements: Thought leaders and executives appear in webinars, panels, and keynotes, adding gravitas to events like EY’s CXO Forum.
- Co-branding: A more formal collaboration, with influencers contributing to joint reports or content series (35.6% of campaigns).
- Advisory Roles: In 42.5% of campaigns, influencers provided strategic insight or guidance on key messaging, as demonstrated by Intel’s “Sustainable CFO” campaign.
The Budget Breakdown: Where Is the Money Going?
When it comes to influencer marketing, the budget is a defining factor. Some campaigns allocate a large portion of their budgets to influencer activities—up to 53%, while others keep it modest, with spend ranging from 3.1% to 10%.
Examples of campaign spend include:
- SAP Concur: 53% of the total budget was spent on influencer marketing, generating significant leads and closed deals.
- Honeywell: 6.5% of their budget went to influencers, with marketing-influenced revenue exceeding targets by 32.8%.
- Travelport: Just 3.1% of their budget, but the campaign led to a sixfold increase in leads and a 42% increase in platform adoption.
Measuring Success: What ROI Looks Like
Successful B2B influencer campaigns aren’t just about reach and engagement. They’re about measurable impact on business outcomes. Here’s how brands are quantifying their ROI:
- Engagement Metrics: Most campaigns (95.4%) track metrics like impressions, click-through rates, and social media engagement, as seen with SAP Concur’s 107,185 impressions.
- Lead Generation and Sales: 73.6% of campaigns focus on business outcomes such as lead generation, pipeline influence, and sales acceleration. Honeywell’s campaign exceeded pipeline targets by 32.8%.
- Brand Perception: Measuring shifts in audience sentiment and brand awareness is critical, tracked by 64.4% of campaigns.
- Revenue Attribution: 23.6% of campaigns tie influencer activity directly to closed deals and revenue, with SAP Concur attributing five deals to their influencer-driven leads.
The Takeaway: Influencer Marketing Is Here to Stay
With over half of all B2B campaigns incorporating influencer strategies, influencer marketing is clearly no longer a trend. The use of industry experts, executives, and customer advocates has cemented this strategy as an essential element in modern B2B marketing. As brands refine their influencer strategies and measurement tools, we can expect to see even more sophistication in how B2B companies engage with influencers to drive tangible business results.
So, if you haven’t yet explored the power of influencers in your B2B campaigns, now is the time to start believing the hype.
Stay tuned for more insights on how to optimise your influencer marketing strategy in the coming posts.
Source:https://www.b2bmarketing.net/influencer-marketing-in-b2b-why-its-time-to-believe-the-hype/
