B2B influencers play a huge role in influencing B2B buying decisions. As per a report published in Forbes, about two-thirds of B2B marketers opine that B2B influencer marketing enhances brand exposure and tilts the buying process in their favor.
However, just 19 percent of them implement the marketing tactic in their organizations. Like brand loyalty and channel loyalty programs, B2B influencer loyalty programs can generate a lot of revenue and bring a lot of positive results.
At LoyaltyXpert, we craft high-quality and personalized B2B influencer loyalty programs for a wide array of B2B companies. We have experienced the power of B2B influencer marketing, up close.
In this blog post, we discuss the benefits of B2B influencer loyalty programs, how to find and select the right B2B influencers, and the most effective ways to implement B2B loyalty programs. Read on to know more.
Why B2B influencer marketing is effective for B2B companies?
B2B influencer marketing is emerging as one of the most effective marketing tactics for B2B businesses. It has the potential to generate millions of dollars in revenue every year. Here are four reasons why B2B influencer marketing works like magic in the B2B space.
1)B2B influencers have a select group of audience
Unlike celebrities and popular public figures, B2B influencers have an extremely specific and select group of audiences, who are interested in their niche content. They are followed by just one industry audience and their recommendations can influence the opinions, thoughts, and purchasing decisions of their followers.
To give an example, a celebrity who is a brand ambassador of an IT company can also endorse an automotive brand. But that’s not the case with influencers. A B2B tech influencer creates content that’s only related to technology, software, hardware, computer accessories, electronics, and more.
If you’re a software solutions provider, you can find B2B tech influencers who specialize in the domain. They demonstrate a wide range of software and IT services and share their experiences, suggestions, and reviews. If you create the right influencer loyalty programs for them, you can forge a strong synergy and reach out to thousands of their followers.
2)Close and personal connection with their audience
Influencers, both B2B and B2C, have an exceptionally close and personal connection with their audience. They connect with their followers regularly. Apart from giving tips, showcasing various products, and sharing their experiences, they also show their lifestyle and some aspects of their personal life, which builds a kinship with their audience.
Apart from that, they regularly conduct livestream, answer the questions of their followers, and also reply to their comments and direct messages. By doing so, they win the trust of their followers and subscribers. They also upload content and social media posts consistently, which earns them more followers.
3)B2B influencers are the experts in their industry
B2B influencers have made a name for themselves due to their expertise and knowledge of a specific niche or industry. More often than not, they are noted and well-respected thought leaders, industry analysts, and industry body experts. They are regarded as the experts in their industry. That builds trust and makes their followers think that they are right.
Six in every ten marketers believe that influencer-generated posts get more views and engagement compared to branded content. Nearly the same number of customers tried a brand’s product or service as it was recommended by an influencer they follow.
4)Higher ROI and revenues
As per some studies, influencer marketing gives eleven times more return on investment than any other form of digital marketing. Apart from enhancing the return on investment, B2B influencer marketing also increases revenue.
One research conducted by influencer marketing platform SocialPubli.com found that four out of every ten marketers said that their influencer marketing campaigns generate the highest revenue out of all marketing techniques.
How to find and pick the right B2B influencers in your industry?
Finding the right B2B influencers in your industry can be challenging without a well-designed strategy. But with the right plan and tools, you can find and partner with the ones that can take your business to new heights. Here are five effective ways.
1)Use the internet
While finding out the right B2B influencers for your business, use search engines such as Google and Bing as well as social media platforms such as LinkedIn, Twitter, Facebook, Instagram, and more. Even though it’s natural for top influencers to have considerable followers, don’t focus solely on their social strength. Look at their content, expertise, and how well they can work with your brand.
2)Monitor your industry and competitors
To select the right B2B influencers for your brand, keep a close watch on your industry as well as the best-performing competitors. Find out the influencers they are partnering with and the types of content they are creating. Look for some best content in your industry and niche. Also, look at the trends and projections. All these will help you partner with the right kinds of influencers in your niche.
3)Attract influencers to your brand
In addition to looking for the right influencers for your brand, you can try the other way round. Creating a community of B2B influencers is one of the best ways to attract the right ones to your brand. Build an excellent website and create awesome content to catch the attention of some acclaimed opinion leaders and experts in your industry.
4)Create a B2B influencer dossier
After selecting the right B2B influencers, create a dossier to list their talents, strengths, weaknesses, and interests. It will also help you to list their social channels, media coverage, history of work, and more.
5)Invest time in product education and co-creation of content
To be effective, the B2B influencers partnering with your brand must have detailed knowledge of the products they will be promoting. You need to explain to them how each of your products works and what features they need to highlight. After educating them about the products, focus on content co-creation. Invite ideas from them and encourage them to use their creativity, expertise, and storytelling skills to create engaging and informative content.
Tried and tested ways to implement B2B influencer loyalty programs
If you are planning to implement influencer loyalty programs then these five tips can be extremely beneficial for you.
1)Have an effective influencer referral program in place
If you’ve subscribed to some influencers on YouTube you might have seen them discussing or reviewing a product and then providing an exclusive coupon code, which has their initials. That’s nothing but an influencer referral program. In that, companies provide influencers with exclusive coupon codes, using which their followers can avail of attractive discounts. By creating an influencer referral program, you can create personalized coupon codes for certain influencers in your industry and connect with their followers at once.
2)Turn your audience into B2B influencers
Can your channel partners and target audience be B2B influencers? Some of them may not have the professional title of ‘B2B influencers’ but they know how to leverage the power of social media to share their experiences and opinions with their friends and followers. The best part is, that some of them have the following and clout that can make them micro-influencers. All you need to do is identify and encourage them to create testimonials, write reviews, give ratings, and help in creating user-generated content.
3)Create a community for B2B influencers and micro-influencers
Building a community of B2B influencers is one of the most effective ways to partner with the right B2B influencers. Rewarding the members with personalized experiences, extra benefits, and perks will also attract more B2B influencers and micro-influencers to be a part of your online community.
4)Craft a tiered membership program
A tiered membership program can be extremely effective in influencer marketing. It usually has tiers such as ‘Diamond,’ ‘Platinum,’ ‘Gold,’ and ‘Silver,’ which rank the influencers as per their performance. It felicitates the best-performing B2B influencers and enhances the competitive spirit.
Customize rewards and compensation
Instead of having identical rewards and incentives for all B2B influencers, focus on customizing and personalizing the compensation to motivate and retain them in the long run. Use a mix of cash and non-cash rewards as well as provide exclusive access to, and experiences of, upcoming products and services.
All in all,
Even though B2B influencer programs can enhance brand value and generate a lot of revenue, a lot of B2B companies are yet to leverage the marketing tactic to their benefit. This is where a reputable and trustworthy loyalty service provider such as LoyaltyXpert can help. We can craft a wide range of personalized and high-quality B2B influencer loyalty programs. Call us today to know how we can help you with it.