This ground-breaking research paper titled ‘Influencing Business: The Global Rise of B2B Influencer Marketing' delves into the next significant growth opportunity for brands aiming to influence decisions, stimulate growth, and cultivate meaningful connections among enterprises. Spanning 11 markets, which include the US, UK, France, Saudi Arabia, UAE, Kenya, South Africa, Singapore, Vietnam, the Philippines, and Malaysia, the study showcases insights gathered from over 500+ senior marketers, complemented by an interview series featuring brands who are utilising B2B influence.
Thought leaders and commentators have migrated to new media spaces to create business communities, reshaping how people share, learn, and discuss business.
– Sanesh Maharaj, Ogilvy“There is exceptional value for businesses, in participating and earning attention within these emerging spheres of influence. Our research validates this industry shift with proven results from credible business leaders,” says Sanesh Maharaj, Ogilvy’s South Africa head of influence. "Thought leaders and commentators have migrated to new media spaces to create business communities, reshaping how people share, learn, and discuss business. This transformation is redefining the future of stakeholder engagement.
Since 2016, the global market has grown over 20 times, with 62% of TikTok users making purchases based on app reviews and promotions. This study highlights the significant impact of B2B influencer marketing on brand perception and purchase decisions.
“The South African B2B landscape is set to grow exponentially, due to unique purchase point triggers. Businesses seek increased conversions, relying on data, services, and content creators for digital endorsements and brand integration,” says Zimasa Vabaza, entrepreneur and content creator. “More businesses will need creators who can help drive awareness; making content creators indispensable for businesses to sell and tell their story.”
Goldman Sachs predicts the Creator Economy will hit $500bn by 2027, with leading social platforms like YouTube (2.2B), Instagram (1.4B), and TikTok (1B) reaching nearly five billion monthly active users. This growth is driven by daily content creators.
MarketingOgilvy South Africa 20 Sep 2023
The report covers South Africa, Kenya, and global markets, revealing key findings such as:
- In African industries, technology (56%) leads in influencer marketing, followed by financial services and healthcare. In South Africa, retail (62%) takes the lead, while Kenya leads in property and real estate (54%). These trends are influenced by each country's unique economic advancements and socio-economic demands, with opportunities in financial services (41%) and healthcare (29%).
- 73% of South African decision-makers are more receptive to information from research organisations, showing a preference for data-driven insights, followed by business leaders (48%) and industry journalists or reporters (36%).
- In Kenya, 64% of business executives highly value industry-expert consultants.
- Across Africa, 59% of executives confirm that external B2B influencers positively impact employee performance by inspiring new ideas and boosting productivity.
- Globally, 49% of c-suite marketers believe influencers enhance the brand's credibility and trustworthiness.
"The data yielded from this B2B research has provided invaluable insights into the opportunities that lie ahead for our clients and South African business at large. Ogilvy’s Influencer offering is positioned to venture into new frontiers, enabling us to gain a distinct competitive edge," says Samantha Presbury, managing director of Ogilvy Public Relations.
Businesses are propelled to grasp the value of authentic partnerships, as they can dominate industry conversations, shaping their reputations. Moreover, in the ever-evolving e-commerce landscape, entrepreneurs and businesses are harnessing influencers to boost sales and create entirely new ventures within the creator economy's realm.
