Influencer marketing is on the rise and here is all you need to know about it

Social media plays a huge role in the overall branding of a company no matter how big or small. Whenever a social media influencer is chosen to endorse a new product, their review of it reaches hundreds of fans. Then, when those fans see that video or post of their favorite content creator checking out a new product and giving their review they instantly are attracted to it and most likely buy or consider buying this product, with the mentality that it makes them more like their favorite content creator.

A new report on the state of Business to Business and influencer marketing shared quite a lot of insights on business opportunities coming in the second half of this year and beyond that also. According to the report, Influencer marketing has been going in the right direction for most marketing people.

A new study from Lee Odden’s TopRank Marketing blog found that 86% of Business to Business (aka businesses that use other businesses as their middle man) have been successful with influencer marketing. By using influencer marketing most brands have started boosting their brand awareness and with its reputation as well. All this has led to sales increasing if not by a tremendous amount but increasing all the same.

Almost a third of businesses have said that their revenues have gone up ever since they got their products marketed by a social media influencer and 85% of people have the belief that the interest rates one has to pay while working with influencers will increase in the upcoming year because of Inflation, rising housing prices and much more.

The report answers the questions many people have about influencer marketing and also gives some solid advice on what are the factors to consider when picking an influencer to market your brand, so let’s dive in.

First things first, we need to know what B2B marketing is and how it involves Influencers. This specific type of marketing starts as a one-time deal but after checking the outcomes of this deal, most marketers are thinking of making it into a long-term deal based on the result and the performance of that specific influencer. The study surveyed marketing professionals and experts on their experience with Influencer Marketing and here are the results:-

• 86% of respondents said that it was either remotely or very successful for their company,

• 72% said that it helped them increase their brand’s reputation,

• 70% said that it helped in increasing awareness about their brand,

• 56% said that it helped them with creating new leads,

• 33% said that it was a direct source of revenue for their company.

Now arises the question of finding an influencer trustworthy enough to become a B2B partner with them. In this case, you need to see beyond basic things like followers and reach, according to the report.

According to professionals, when thinking of going into Influencer Marketing, you need to look above vain qualities like followers/subscribers and start thinking about relevance because audience size does not matter as much as audience relevance

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