Influencer Marketing Can Amplify B2B & B2C Brand Engagement

June 29, 2022

The customer testimonial is a long-proven, valuable marketing tactic. And with the hyperproliferation of social media content penetrating all aspects of business and brand development over the past decade, the traditional testimonial has undergone a transformational shift — further amplified by the rise of Influencer Marketing. Influencers of all forms have quickly redefined how marketers can, and arguably should, be prioritizing and enhancing their earned, owned, and paid media efforts.

As the marketing landscape has constantly evolved and adapted in the digital space, the influencer market, in particular, has experienced notable growth in the last several years — and it’s likely broader than many companies (both large and small) realize. From the most prominent B2C brands to the smallest B2B manufacturers, influencer marketing has proven to be a viable and scalable way to supplement an organization’s broader content and marketing programs. And since it is a true content-marketing tactic at its core, the output can be successfully leveraged for both top-of-tunnel and bottom-of-funnel activities.

Our company is quite small — can Influencer Marketing be an effective tactic for us?

A 2021 study by eMarketer found that more than two-thirds (67.9%) of US marketers will use some form of influencer marketing in 2021, which was expected to increase to 72.5% in 2022.  So, yes, the market opportunities and buyer behaviors exist. Further, not every influencer needs to have a million followers to be an effective partner. In fact, assorted data sources show that a more effective strategy can be to align with smaller-scale influencer accounts that are still in their growth stage. These influencers are likely to be more willing to partner with smaller brands where there is less noise and fewer brands competing for content. These smaller-scale influencers also allow for a greater opportunity to target more niche audience bases. Nano-influencers (10k or fewer followers) or Micro-influencers (10k-50k followers), for example, fall into a sweet spot of being approachable yet established enough to make a real impact on your brand.

What are some marketing essentials my brand needs in order to partner with influencers?

As is true across all marketing efforts, having a clearly defined target audience — ideally with a data-driven and holistically crafted brand persona — will help narrow your focus on which platforms to leverage and with whom to partner. Ensuring your brand and marketing message are properly aligned with your chosen influencers (and perhaps, even more importantly, their audience of followers) helps extend both credibility and authenticity that are otherwise difficult to achieve outside traditional earned media tactics. Herein lies one of the biggest upsides of influencer marketing — when executed correctly, it creates message frequency and reach without the heavy lifting of a costly paid media campaign and oftentimes can result in even greater ROI.

As a B2B brand with a website that doesn’t have an e-commerce component, does Influencer Marketing still make sense?

It may be surprising to learn that brand awareness is, in fact, the number-one objective for brands that use influencer marketing. Brand perception/sentiment comes in at number two, followed only then by sales and revenue, according to The Industry-Specific Approach To Influencer Marketing: 2022 Report. While influencer marketing lends itself well to promoting conversion, it also serves to amplify your brand messaging and awareness to your unique audience — driving what is known as the 3 Rs of Influencer Marketing: relevance, reach, and resonance.

Is there a way to execute an effective Influencer Marketing program in-house?

An influencer marketing program is 100% scalable based on your planning and budget parameters. There are many great third-party platforms available — for B2C, B2B, and niche marketing efforts — but, there’s also the ability to execute a program entirely in-house with an experienced team to help support it. According to the 2022 Influencer Marketing Benchmark Report from Influencer Marketing Hub, 44.6% of respondents said they use third-party platforms to assist them with their influencer marketing. And of that 44.6%, the most common use of the platform was to aid in identifying potential influencers and automating influencer communication. Even with the use of platforms to aid in their influencer identification, 54% of brands surveyed state that they worked with 10 or fewer influencers.

How are influencers compensated?

While Influencer Marketing can be a lucrative investment to help set your brand apart from your competitive set, there are in fact costs associated with such partnerships. In most cases, influencers are compensated by more traditional means. There are some upfront costs in getting your influencer base familiar with your product, key messaging, and any usage or applications. In our experience, the most common method is to pay influencers at a flat rate. However, the Influencer Marketing Benchmark Report also indicates a sizable percentage of brands (42%) structure their payments more like affiliate marketing payments by paying a percentage of any sales made as a result of Influencer Marketing efforts. The latter tends to be a more viable means for brands testing the influencer space as pay-for-performance models. Referral links, coupon codes, email addresses, and so on tend to be more palatable for more conservative or modest budgets.

While the concept of Influencer Marketing may seem complicated or daunting, it is actually quite comparable to many other marketing efforts brands already employ. Moreover, our team of expert brand, digital, and content strategists can help make the process a seamless extension of your overall marketing plan. And, most importantly, Influencer Marketing efforts are yet another component of your marketing toolbox that can help bolster brand awareness and perception — and further compel your audience by stretching and amplifying your marketing budget beyond the basics. If you’re interested in learning more about starting an Influencer Marketing program or building upon your current influencer marketing efforts, we’re here to help.