Getting Influence With Influencers

Influencers are all around the sales process, shaping the behavior of partners and customers alike. Larry Walsh talks about what partnership leaders at the Channel Executive Council think about getting influence with influencers.

Influencers play an increasingly critical role in the modern sales process, especially within the channel ecosystem. Their ability to shape customer behavior, expedite sales, and impact deal size makes them valuable assets. However, the definition and understanding of influencers in the B2B context, particularly in channel sales, remain unclear to many. This ambiguity raises questions about how vendors and partners can tap into the power of influencers to drive sales.

During the recent Channel Executive Council retreat in Austin, Texas, Larry Walsh shared his thoughts on the topic in the latest episode of the In the Margins podcast, drawing from conversations with channel leaders. The discussion centered on influencers’ role in facilitating customer decisions and shaping partner behavior, revealing the complexity and diversity of influencer types.

Influencers are often associated with social media personalities or YouTubers who sway consumer opinions. However, in the B2B space, influencers are much more nuanced. As Walsh pointed out, the channel has two primary types of influencers — those with a vested interest in the outcome of a sale and those who are more altruistic.

The first type, referred to as endemic influencers, are individuals or entities with a direct stake in the outcome of a deal. They may be partners or stakeholders within the channel whose success is tied to closing the sale. These influencers have a clear motive to support the transaction, as the outcome directly benefits their business.

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Want to know more about influencers?
Check out Channelnomics’s research: B2B Influencer Success Factors

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Altruistic influencers are less tied to the financial outcome of the sale. Instead, they influence purchasing decisions based on personal relationships, trust, or professional networks. Their goal may be to help a friend, colleague, or client, rather than to secure a financial benefit. While they may still have a vested interest in the broader success of their networks or relationships, their involvement is more driven by a desire to provide support or facilitate positive outcomes for others.

Research shows that deals influenced by third parties tend to close faster and at higher values compared to those without outside influence. This is partly due to the trust and credibility that influencers bring to the table. When a respected figure within a network or industry endorses a product or service, customers are more likely to consider the option seriously and act more quickly.

Influencers also play a significant role in multiple stages of the sales cycle. As Walsh notes, a sale often involves various touchpoints, and influencers can come into play at different stages, providing guidance, insights, or validation at critical moments. This concert of influencers helps guide customers through their decision-making process, with different influencers exerting different types of influence at different times.

Influencers are a vital part of the channel ecosystem, yet their role is still widely misunderstood. Vendors and partners must recognize the power that both endemic and altruistic influencers hold in shaping customer decisions and driving sales. As Walsh observed during his time at the Channel Executive Council, understanding how to leverage this influence can lead to better outcomes for vendors, partners, and customers alike.

Learn more about influencers in the channel in the latest episode of In the Margins.