Much of the marketing industry is confidently familiar with, if not incredibly well-versed in, influencer marketing. The home-grown celebrity touting praise for trending products is present in the social feeds of countless, and their reach and power to persuade has gone unnoticed by few.
Beyond increasing brand authenticity and building trust with consumers, influencers offer a solution to some of the most notable digital marketing challenges and opportunities today. With tweaks and adjustments to social media algorithms, brands are experiencing a noticeable dip in their organic reach across popular platforms such as Facebook and Instagram. The rising cost of digital advertising and increasing use of ad blockers also have added barriers to the communication flow between brands and their buyers. Influencers create a new path to communicate and connect with consumers despite these digital advertising challenges.
Though many have come to understand influencers through the lens of B2C marketing, in his CMO's Guide to B2B Influencer Marketing, Lee Odden suggests that the B2B marketplace has an opportunity to improve upon the strategy of engaging influencers and to reap the same benefits of their consumer-facing counterparts.
In the Guide, Odden highlights challenges B2C influencer marketing is confronting as pitfalls for B2B marketing professionals to avoid. He urges B2B marketers to stay mindful of cultivating a culture of opportunistic influencers. In the B2C space, concerns surrounding influencer legitimacy and the authenticity of their networks has diminished the perceived value of insights shared by genuine influencers.
To support a better culture in B2B influencer marketing, Odden advises against treating your influencers as a mere advertising distribution channel or approaching your relationships with influencers as transactional engagements. Influencer marketing should be a collaborative endeavor, with companies investing time and energy into helping influencers pursue their personal goals, just as influencers are helping companies achieve theirs.
Clarifying key differences between B2C and B2B influencer marketing, Odden explains that longer sales journeys, larger purchase decisions and decision-making committees that consist of more than one person change the way B2B marketers should collaboratively create content with their influencers. He emphasizes the subject matter expertise of B2B influencers as a key skill set to leverage in influencer marketing. Understanding this unique value B2B influencers bring to the table should also inform how B2B marketers strategize returning value to their influencers. An ideal way to structure relationships between B2B influencers and the brands they support is to position B2B influencer marketing as an opportunity to raise awareness among a brand's and a B2B influencer's mutual audience.
As Odden said in his Guide, “Pay an influencer and they’ll be your friend for the day. Help someone become more influential and they’ll be an advocate and friend for life.” B2B influencer marketing abounds with opportunity if you know the mistakes to avoid and best practices to abide by. Lee Odden's CMO's Guide to B2B Influencer Marketing is a great place to start learning.