Total brand spending on influencer marketing was $81 billion in 2016 and is projected to reach $101 billion by 2020, according to a 2017 study from the Association of National Advertisers and PQ Media.
It’s not stated how much of that investment will come from consumer or B2B brands, but it’s clear that influencer marketing has become an integral piece of marketing programs today.
For consumer companies, if you have a product or service with mass consumer appeal, there are thousands of influential consumers (called creators) that you can “hire” and activate through paid campaigns. Companies like OpenInfluence and Clever have access to thousands of influencers as a part of their opt-in influencer network. All you need is an idea or campaign and a sizeable budget. And the great thing is, you can start tracking your program instantly.
How B2B is different
For B2B brands, it’s not that easy.