Earlier, the concept of influencer marketing was very simple. Build friendship with some respected people in your society and they, eventually, will recommend your products and services to your potential customers. Although the concept has now almost been assimilated into the marketing strategy of every organization, it is not a new concept, as ancient Rome witnessed popularity and prevalence of this practice. In the Roman empire, people who were aspiring to thrive on their business had to influence a particular section of influencers. And so influential was the practice in Rome that the favor of a top aristocrat could make any business person wealthy.
After almost 2,000 years, the same practice continues unabated. Rather, I should say that it has gained a new lease of life, thanks to the rising popularity of social media. Validating the fact are some amazing numbers. According to “The State of Influencer Marketing 2018,” 86% of marketers revealed using influencer marketing in 2017. Moreover, of them, a whopping 92% accepted its effectiveness. In another study, conducted jointly by Nielsen and TapInfluence, it was found that the ROI generated by this marketing technique is about 11-time higher than all traditional strategies.
Nevertheless, when it comes to B2B brands, influencer marketing is still a tough nut to crack. Usually, B2B brands have a wide gamut of customers across different industries. It is, therefore, quite difficult to identify an influencer who has significant influence across different groups. Probably, this is the reason influencer marketing in the B2B space is more time-consuming and strenuous than in the B2C space. But if done appropriately, it can reap great rewards for the business.