The communication landscape has been disrupted by influencer marketing like never before. However, the mention of the term is eponymous with the business to consumer (B2C) marketing, which in creates quick outcomes. After influencer marketing, it is not common to see rising sales for an apparel brand.
Marketers have now become confident in replicating the success of B2C success in the B2B realm, after having seen huge success in B2C. buyers are stating their expectations beforehand and define solutions to their problems. CSO insights- the growing buyer-seller gap: – results of the 2018 buyer’s preference study, over 70 percent of buyers clearly defined their needs before engaging with the vendor. Moreover, almost half of the buyers have already zeroed in on a particular outcome before selecting a vendor.
The success and growth of the creator economy have rooted in the fact that recommendations and referrals are now playing a crucial role in influencing buying decisions more than ever because of the owned platforms and proliferation of social media and democratization of the internet. The survey conducted by Matter Communications, providing the latest insights- an integrated marketing agency found that 61 percent of customers are likely to trust suggestions from their family members, friends, and favourite influencer for making a purchase. The higher value per order for B2B brands creates a strong case for connecting with influencers to establish trust and clout toward their target audience. Nevertheless, still there is a way to opt for mainstreaming B2B influencer marketing and reaping its umpteen benefits.
Some of the key challenges in influencer marketing are as follows:
Many times, influencer engagement is often mistaken for advertising, wherein influencers get paid to promote a service and product to consumers. However, influencer relations form a media relation in PR and a building block of B2B marketing. Brands need to identify win-win propositions and should have a good connection for a long-lasting relationship, to work with the influencers. Finding the right influencer is another barrier for your brand. While the number of followers is a relevant metric it is not represented that this massive following may be appropriate to your brand. In B2B marketing, marketers are yet to harness the power of influencer marketing.