Building Credibility and Reach With Influencer Marketing for B2B Tech Startups
"Influencer strategy" is a buzzy concept that founders love to toss around. We often hear from clients and prospects that they need it, but they really don’t know what it means or why they need it.
We'll break it down for you:
What is an influencer strategy
Why consider an influencer strategy
How to start "influencing"
Where to begin building an influencer marketing plan
And, who should you should prioritize as influencers for your brand
What is an Influencer Strategy?
An influencer strategy is a marketing approach that leverages influential individuals like executives or subject matter experts, thought leaders, customers, industry analysts, content creators, or celebrities to promote a brand's products or services. The influencers have established credibility and usually a large following on social media platforms or other digital channels, so they can effectively reach and engage with target audiences.
Because of their substantial followings, influencers are ideal partners for amplifying your brand message. According to a study by Influencer Marketing Hub, 85% of marketers found influencer marketing as an effective marketing strategy. This effectiveness is largely due to the personal connections influencers have with their audiences, who view their recommendations as genuine and trustworthy.
The key to a successful influencer strategy is selecting the right individuals whose values align with the brand and resonate with the target market. The right influencer ensures the content created feels authentic and organic rather than forced. Through sponsored posts, product reviews, or brand ambassadorships, influencers can significantly impact brand awareness and customer acquisition efforts, driving growth and fostering brand loyalty.
Why Consider an Influencer Strategy for B2B Tech Growth?
To cut through the noise of a competitive market, simply having a great product or service isn't enough—you need a strategy to get it in front of the right people. This is where an influencer strategy can make all the difference. By partnering with influencers, you can extend your brand’s reach, build credibility, and engage with your target audience in ways that traditional advertising may not achieve. Here are the key benefits of considering an influencer strategy.
Expand Your Brand Reach: Influencers can introduce your brand to new audiences who may not be reached through traditional advertising channels. Their established presence in specific communities allows your brand to connect with niche markets, increasing visibility and driving awareness among potential customers who may not have discovered your brand otherwise.
Build Your Credibility and Trust: Influencers are seen as trusted voices by their followers, which can help build credibility for your brand. Influencers are seen as authentic voices by their followers, who trust their opinions and recommendations. When an influencer endorses your product or service, that endorsement carries weight, making it easier for potential customers to trust and engage with your brand. This trust is invaluable, especially in industries where credibility is crucial for success.
Achieve Higher Engagement Rates: Influencer-generated content often receives higher engagement rates compared to branded content. (People like to listen to people more than companies.) People are more likely to interact with content from individuals they follow and admire rather than from companies alone. This increased engagement translates into more likes, shares, comments, and ultimately, higher conversion rates. Engaged audiences are more likely to take action, whether it’s making a purchase, signing up for a service, or spreading the word about your brand.
Save Costs: An influencer strategy can be more cost-effective than traditional advertising, particularly when you partner with micro-influencers. These influencers may have smaller followings, but their audiences are often highly engaged and loyal. This means you can achieve substantial impact without the hefty price tag associated with large-scale advertising campaigns. Moreover, the ROI from influencer partnerships is often higher, as the targeted reach and genuine connections lead to better results.
How to Get Started with Your Influencer Strategy?
To kick off your influencer strategy, begin by thoroughly understanding and defining your goals and objectives. It’s easy to dive into tactics without a clear vision of what you aim to accomplish, so start by clarifying the following:
Your Goals: Establish specific objectives for your influencer campaign. Are you looking to increase brand awareness, drive sales, enhance customer engagement, or perhaps boost your brand's credibility? Clear goals will guide your strategy and help measure success.
Your Audience: Pinpoint your target audience by analyzing their preferences, behaviors, and the platforms they frequent. Understanding your audience is crucial because it allows you to select influencers whose followers closely match your target market. This alignment ensures that your message reaches the right people in an authentic way.
Who Influences or Aligns With Your Audience: Next, identify influencers who resonate with your audience and align with your brand’s values. Consider whether you need macro-influencers with a large following, micro-influencers with a smaller but highly engaged audience, or niche influencers who are experts in a specific industry. Each type of influencer offers unique advantages, so choose those who can most effectively connect with your target audience.
By following these steps, you can create a focused and effective influencer strategy that not only achieves your marketing objectives but also builds lasting relationships with influencers and their audiences.
How Do You Develop an Influencer Marketing Plan?
Once you’ve defined your goals, target audiences, and key influencers, developing an effective influencer marketing plan is crucial for maximizing the impact of your collaborations to achieve B2B tech growth. To ensure your strategy is successful, you’ll need to carefully plan each step—from how you engage with influencers to the content you create together and the metrics you track to measure success.
Here are a few essential components of building a comprehensive influencer marketing plan.
Engagement Strategy: After identifying potential influencers, develop an engagement strategy that outlines how you will approach and collaborate with them. Personalize your outreach, emphasizing why they’re a great fit for your brand and how the partnership will be mutually beneficial. A well-crafted pitch increases the likelihood of building a successful partnership.
Content Planning: Work closely with influencers to create content that aligns with your brand’s message while also allowing the influencer’s unique voice and style to shine through. Authenticity is key, so give influencers creative freedom within the framework of your campaign goals.
Tracking and Measuring Success: Finally, implement tools to track the performance of your influencer campaign. Monitor metrics such as engagement rates, follower growth, and conversion rates to evaluate the effectiveness of the strategy. Regularly review these metrics to refine your approach and optimize future campaigns.
Where to Begin with Your Influencer Strategy and Planning?
Your Circle of Influencers
Consumer products and brands often turn to big social influencers like celebrities to expand their brand awareness. However, business-to-business technology companies may not have the same impact with social media influencers since their buyer or audience could be more niched like an engineer, or developer.
Instead of emulating consumer brands by aiming for widespread celebrity endorsements, B2B companies should focus on a more targeted approach. Begin by identifying the most influential figures within your network and niche, then gradually expand outward. This strategy ensures that your budget is spent effectively, starting with the influencers who are most accessible and impactful. Understand your audience and circle of influence. Start in the center and work your way out, this way you’ll maximize your budget and begin with the most accessible and powerful influencers in your circle.
Subject Matter Experts and Executives: The most immediate circle of influence includes your internal team. Your team, including colleagues and leaders, can serve as influential voices. When subject matter experts collaborate with executives to publish content, they enhance their visibility together. This influencer group is incredibly relevant as they are deeply immersed in your business operations. Their deep involvement in your business operations makes their insights particularly relevant and trustworthy to your target audience.
Customers and Prospects: Engaging prospects and customers in your marketing efforts builds relationships and establishes credibility before any sales conversations. Customers resonate with your target audience's daily experiences, allowing prospects to see themselves in your customers' stories. Prospects often relate, thinking, "I face the same challenges. This is my current struggle within my organization." Customers, who are living the same industry realities as your prospects, can share relatable success stories that resonate deeply. Prospects often see themselves in these narratives, which can help build trust and open doors for meaningful conversations.
Partners and Community: Business partners and community members can also serve as influential advocates for your brand. Their authentic testimonials and experiences can validate your offerings and foster trust among potential customers. By sharing how they benefit from your products or services, partners help extend your reach into new networks. Their genuine advocacy and personal experiences can build trust and credibility, effectively promoting your brand to a wider audience.
Industry Experts: An analyst strategy is an influencer strategy as well. When understanding who influences your audience, industry analysts often become the next logical step for b2b companies after SMEs and customers. Industry analysts like Gartner and Forrester build relationships with businesses and sectors and are a go-to source for vendor recommendations. Industry analysts are highly respected within the B2B space and serve as key influencers. These experts provide valuable insights and vendor recommendations, making them vital to your influencer strategy. Collaborating with industry analysts can position your brand as a trusted solution within your sector.
Professional Influencers: These are well-known industry figures with large followings. While they provide general authority and reach, they may not have specialized knowledge for niche topics. Although they may have large followings, professional influencers in the B2B space offer general authority rather than niche expertise. They can help increase brand visibility, but their impact might be less direct compared to more specialized influencers.
Content Creators: These individuals excel in producing high-quality content, whether through blogs, videos, or social media posts. Identifying the right platforms for their content can maximize its impact, making them valuable partners in your influencer strategy.
Niche Experts: Experts with smaller but highly focused audiences, such as data scientists with deep domain knowledge, are ideal for reaching technical audiences. They offer educational insights that can resonate strongly with a specialized audience, driving engagement and credibility.
Up-and-Comers: Micro-influencers, or those on the path to becoming professional influencers, present a unique opportunity. Partnering with these rising stars early allows you to build strong relationships and advocacy programs as they grow in prominence, ensuring long-term benefits for your brand.
By strategically engaging with these different layers of influence, B2B companies can craft an effective influencer strategy that resonates with their target audience and drives meaningful results.
The TLDR: Influencers Could Be Your B2B Game Changer, WITH the Right Approach.
Incorporating influencers into your B2B tech startup strategy can be a game-changer, expanding your brand reach, building credibility, and driving engagement. By leveraging the power of subject matter experts, industry leaders, and niche influencers, you can create authentic connections with your target audience. Additionally, an effective influencer strategy helps you tap into established networks, giving your brand access to hard-to-reach decision-makers and specialized communities. This targeted approach not only amplifies your brand's message but also positions your startup as a thought leader in your industry, paving the way for sustained growth and long-term success.
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