Marketing is continuously being dominated by influencers with a growth of social media. A study from Olapic states that 31 per cent of consumers have purchased a product or service after seeing a social media post. This clearly defines the footprint of influencer marketing.
However influencer marketing has its own setbacks with fakery of influencers being a vital one.
Fake influencers are social media users who by all appearances look and act like real influencers. They post high quality pictures that are not much different from real influencers but the major difference is that their following mostly comprises of fake accounts and bots. In other words they do not have an influence over the real audience.
Fake influencers also consists of influencers who have ‘bought’ followers from the social media sites. Brands are fooled by the copious followers and do not hesitate to employ such fake influencers. Fake influencers have a very negligible impact on real audience and hence flunk in meeting the requirements of the brand.
Being a victim of fake influencer marketing can be harmful to any brand in a number of ways. The biggest harm is that of financials. Fake influencers can bleed you dry of money while producing no significant result.
Influencer marketing gives brands of all sizes a way to reach relevant audiences on platforms such as Instagram, Snapchat or YouTube in a way that might feel more authentic to a consumer. To appear more influential than they actually are, influencers can buy fake followers and pay for bots to like or comment on their posts.
That fraudulent activity is costing advertisers $1.3 billion this year, according to a report from Cheq, a cybersecurity company focused on the digital media space, and University of Baltimore economist and professor Roberto Cavazos.
On top of this, there’s wasted effort as a marketing team spends hours trying to develop a strategic influencer marketing campaign and coordinate with an influencer who turns out to be fraudulent. These fake influencers cause brands to waste valuable time and resources on a partnership that doesn’t yield any significant result.
Influencer fraud can also damage your brand reputation and break the trust that you’ve worked so hard to earn. Naturally, fake influencers aren’t very well-known for their credibility. If people learn you teamed up with an account that turns out to be fake, they may doubt your credibility.
While the fake influencers reap all the money they can,from the brands,the companies lose their money without any reciprocation. Brands have now become very vigilant about fake influencers.
Influnite has a tool on its platform that can identify such fake accounts and hence brands become worthy of their spend. A lot of money is spent on influencer marketing by brands for eventually boosting sales and brands have to spend it cautiously. We understand this and hence brands can identify fake influencers on our portal once they register before running a campaign.