Over the last couple of years, more and more businesses have been integrating influencers into their digital marketing strategy. From Instagram to YouTube and Twitter, celebrities and social media personalities have been endorsing brands and creating sponsored content in support of their brand relationships. According to Sprout Social, a social media management tool, 74% of consumers make purchasing decisions based on social media recommendations, and statistics show that influencer marketing campaigns yields 11 times higher ROI than other forms of promoted content.
Taking cues from third-party referrals is not unique to consumers, businesses are also influenced by recommendations, probably more so. According to the Harvard Business Review, 90% of business decision-makers initiate their purchasing processes by canvassing opinions from industry experts and peers, largely through social media.
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