4 Ways Communities of Influence Will Enhance Your B2B Strategy
The right networks of trusted experts and community influencers can play a critical role in B2B strategy by offering access to new markets, lending credibility, and accelerating the decision-making process. This claim seems intuitive but there’s plenty of data to back it up. 1. Building Trust and Credibility: A Forrester study found 43% of B2B buyers admit that over 70% of the time they make what Forrester refers to as defensive purchase decisions, that is they select the safest choice over all other options. That perceived safety is based on trust—one of the most significant factors in B2B decision-making, especially for high-stakes purchases. A PwC study reported 93% of business executives agree that the ability to build and maintain trust improves the bottom line. And an Edelman 2023 study found trust is among the top three important buying considerations, noted by 88% of respondents, slightly trailing good value for money (91%) and best quality (89%). 2. Targeting High-Value Accounts: Relationships with third-party experts and other well-regarded members in your community can accelerate access to decision-makers. A well-regarded influencer can serve as a trusted intermediary to connect companies with those decision-makers directly. This claim is reinforced in Forrester’s State of Global Business Buyer Trust, which found over 90% of B2B buyers rely on peer recommendations. Additionally, the 6 Sense Study reaffirmed most B2B companies have a short list by the time they’re two-thirds of the way through their buying journey, rarely changing their preferences once interactions begin. th 3. Entering New Markets or Launching New Solutions: To grow, many of our customers depend on launching new solutions or entering new markets. The influence within your networks can help provide the social proof needed to gain traction. Buyers may be hesitant to adopt a new product without validation from a trusted source. Trusted members in a network who can advocate for a solution or company can significantly shorten the market entry timeline. 4. Accelerating Long Sales Cycles: In industries with complex products and lengthy sales cycles, e.g., enterprise software or capital equipment, trusted experts and influencers can help accelerate the sales process by offering endorsements, introductions, or direct recommendations.
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