14 Mar 2019
We all know that social media is littered with fake accounts and bots. And it's no secret that some influencers deliberately pay for fake followers in order to get brands to work with them.
Research by Points North Group suggested that almost 14% of Instagram influencer budgets were wasted last year as a result of fake followers. Meanwhile, data from Influencer Marketing Hub shows that 63% of marketers and brands have experienced influencer fraud in the past.
Clearly this a problem that needs to be solved. Over the past three years, around 550 new platforms and influencer marketing agencies have opened, many using analytics to help identify fraud when connecting brands with influencers.
These metrics are able to categorise influencers into high, medium or low risk for potential fraud or fake engagement. However, even with access to these new resources, brands such as Unilever have struggled to shake off fake followers.
It's unlikely we'll ever get to a point where brands can be 100% certain that every follow is real. But as fraud detection improves, it can be kept to a minimum.
Marketers looking to increase their influencer marketing budgets this year need to be on their guard. Fraud is clearly a concern, but the effectiveness of influencer marketing is often enough to outweigh the risk.
If you want to reduce the risk in your job search, get in touch with Stopgap. We have a wide range of digital marketing roles available right now or if you are looking for an experienced marketer brief us.
14 %of Instagram influencer budgets were wasted last year as a result of fake followers