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Just about every business decision – no matter the magnitude or industry – hinges on a single key ingredient: trust.
The recommendations of individuals with significant industry and social followings carry heavy weight with customers, sparking a growing desire to capitalize on the credibility of an influencer’s backing. To help cultivate trust among potential customers, a growing number of B2B brands are wisely turning toward influencer marketing.
While sales professionals and marketing collateral can certainly help raise awareness of specific products or services, buyers inherently trust people over press releases. In fact, 84 percent of B2B buyers start the purchasing process with a referral.
In our new white paper, “Under the Influence: A B2B Brand Guide to Influencer Marketing,” we’ve outlined the steps you can take to bring influencer marketing to your business. From executing influencer marketing initiatives to measuring success, discover how our approach to B2B influencer marketing can jumpstart buyer interest in new products and initiatives.
Finding a fit
When done right, influencer marketing can be a win-win for both brands and the influencers they work with. Businesses have their messages amplified while influencers get their hands on data-based insights that can help grow their social following. But as in any other relationship, fit is crucial.
Before reaching out to a potential influencer, take a few minutes to ask yourself, “Is this influencer’s content and audience relevant to my business?” Although it’s always tempting to pursue a well-known thought leader, there’s no guarantee they’ll be able to make a big difference in your brand’s bottom line. Keep an eye out for influencers who regularly engage a large portion of your target audience using a tone that aligns with your brand.
Pulling the trigger
Once you’ve identified which influencers you’d like to work with, the next step is to set aside the time and budget needed to bring a campaign to life. Thinking about getting an influencer to promote your next product launch? We recommend spending at least two months researching and reaching out to relevant analysts. The more ambitious the influencer marketing initiative, the more time you’ll need.
When it comes to budget, many of the same rules apply. If, for example, you want an influencer’s help producing a video, be prepared to pay more than you would for a simple mention in their blog post. While nurturing an organic influencer relationship may help you save on costs, it will also take more time. By developing a sound strategy for your campaign and clearly identifying the desired outcomes of the relationship, you can determine how much time and budget are needed to execute a successful campaign.
Measuring the success of your influencer marketing campaign will not only provide insight into an initiative’s ROI, but also highlight areas for improvement moving forward.
Since measurements can vary based on the type of influencer marketing investment, we’ve created a different set of criteria for both ongoing and campaign-based programs. From the frequency of influencer interactions to share of voice among target influencers, each data point can help determine whether the campaign helped move you one step closer toward your goals.
Eager to learn more about influencer marketing? Download our white paper, “Under the Influence: A B2B Brand Guide to Influencer Marketing,” and stay tuned for more content surrounding the B2B approach to influencer marketing.