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From Niche to Norm: B2B Embraces Influencer Marketing – 2023 Report Highlights

Market maturity, ROI driving year-over-year growth; AI driving 2024 predictions  

MINNEAPOLIS (Nov. 7, 2023) — Today, TopRank Marketing—an industry-leading B2B marketing agency—released the third edition of its B2B Influencer Marketing Report.

This year’s report includes custom research from more than 400 B2B marketing leaders and insights from leading B2B brands, including LinkedIn, Demandbase, SAP, Dell, Adobe, Microsoft, IBM, and more.

Key findings of the report include:

Measuring Explosive ROI: Companies are seeing record return on investment on influencer spend, with some organizations making $5.20 for every $1 spent on influencer marketing. (The report illustrates effective methodologies of important performance tracking.)

Influencer Marketing Maturity: While 15% of marketers are just beginning their influencer journey, a whopping 48% of marketing teams have reached a moderate stage, with 23% achieving expert status. (It’s not too late to get started—the report details how to kickstart influencer engagement.)

“Influencer marketing has completely reshaped the B2B landscape,” said Donna Robinson, President and CEO of TopRank Marketing. “It’s imperative for marketing leaders to understand the nuances, best practices, and future potential of an effective B2B influencer strategy for their brand. At this point, brands can’t afford to not engage with influencers to achieve their goals.”

Echoing those sentiments, Katrina Neal, Head of Growth Marketing, Data and Insight Solutions, Adobe, said, “People trust people, not brands. B2B influencer marketing is fundamentally helping us reach and build trust with new audiences.”

New for 2023: The B2B Influencer Marketing Report includes comprehensive trend data on the influence of influencer marketing, profiles of B2B influencers and data-backed predictions for the future of influencer marketing in the B2B domain.

“We’re seeing the transition of influencer marketing from a niche strategy to mainstream adoption in real time,” said Debbie Friez, Associate Director, Influence & Social Media, TopRank Marketing. “Of the organizations we surveyed, more than 85% said that influencer marketing is now an integral part of their marketing mix, and a remarkable 23% of businesses have adopted an always-on influencer marketing program. We’re looking into the crystal ball, and it says consistent influencer engagement and brand presence will continue to pay off.”

Success Highlights and Predictions for 2024: Case studies included in the report span across industry front-runners—including Adobe and NetLine—and dive deep into the priorities they’re using to elevate their brand strategies now and in the future.

“Launching a new platform, and creating an entirely new product category, we knew we needed to stand out from the sea of boring and confusing messaging delivered by most in the space. We partnered with TopRank Marketing for our first B2B influencer promotion and saw engagement 165% over the benchmark,” said David Fortino, Chief Strategy Officer, Netline. “The power of influence is undeniable.” 

While predictions for 2024 and beyond include more use of short-form video, more diversity with partners and more co-creation between brands, the impact of AI is top of mind for marketers. The data shows 42% of businesses are leveraging AI-powered solutions for influencer identification and research. 

“In the upcoming year, AI, especially generative AI, will dominate, promoting global experts to influencer status. Enhanced translation and creative tools empower diverse voices worldwide, enriching perspectives and championing inclusivity.” Janine Wegner Integrated Thought Leadership Strategy, Dell Technologies

The 2023 B2B Influencer Marketing Report is available for free download [here]

TopRank Marketing has over two decades of experience helping brands connect with their most valuable audiences. As specialists in influencer marketing, SEO, social media, and content marketing and strategy, the agency has been endorsed by the Forrester Report as a “Top B2B Content & Influencer Marketing Agency” and recognized as an industry thought leader by institutions including Ad Age and Edelman’s Social Media Index. In 2023, TopRank Marketing received the “Best Content Marketing Program” award at the B2B Marketing Elevation Awards for their outstanding work with the LinkedIn Marketing Solutions Blog. The TopRank Blog consistently offers insights that attract attention from publications including The Wall Street Journal, The New York Times, and Forbes.

Katelyn Drake
Director of Agency Marketing, TopRank Marketing

Download this press release as a pdf now