‘Influencer Fraud’: The Biggest Concern of Influencer Marketing

By June 4, 2020 No Comments
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Today, over 30% of conversions result after seeking opinions of the popular influencers in the respective industry. Users often prefer searching for videos or blogs of influential figures before deciding to purchase.

This has made influencer marketing one of the most preferred paid marketing channels by B2B  marketers. Over 70% of marketers say the revenue generated from influencer marketing is similar or often more than other paid marketing channels.

However, even influencer marketing has its shortcomings. The growing trend of influencer marketing has given rise to one of the biggest concerns for B2B marketers, ‘influencer fraud’.

What is influencer fraud?

what is influencer fraud?To understand what influencer fraud is, you must first grasp what fake influencers are and how they operate. You must realize the characteristics that separate them from genuine influencers.

Fake influencers are users of social media who seem to be genuine influencers by all accounts. They post original content on their social media profiles like all social media influencers. However, the only differentiating factor that separates from genuine influencers is fake followers.

Every social media influencer has some fake followers in their follower base. There is no way to avoid fake followers other than auditing your social profiles and blocking fake accounts at regular time intervals. Although, when a majority of followers of an influencer is fake, it’s best to avoid such social media profiles when it comes to influencer marketing.

A high follower count creates the illusion of popularity on social media. This helps users and influencers attract more followers for your social profiles. Fake influencers purchase fake followers to attract more followers.

However, when real followers find no quality content, they eventually unfollow the account. Many influencers even go so far as buying fake engagement through fake accounts to seem genuine. This helps these influencers attract sponsorship deals from major brands.

Why is influencer fraud a major concern in influencer marketing?

influencer fraud a rising concern for brands

Before you discuss why influencer fraud is a major concern, let’s talk about numbers that provide insights into the current state of influencer marketing.

In 2020, over thirty percent of B2B marketers have already increased their influencer marketing budget.

In 2019, brands invested over $8.5 billion on influencers, and that number is estimated to increase as far as $10 billion in 2020.

With such huge budgets, it’s no wonder that even fake influencers want a part of it. In 2019, brands and B2B marketers lost over $1.3 billion due to fake influencers. The number is estimated to increase by up to $1.5 billion in 2020.

Influencer fraud is a major concern for B2B marketers and due to its impact on the businesses’ financials. Major brands might be able to recover from influencer fraud, but a small business venture might not be so fortunate.

Collaborating with popular influencers for maximum exposure can cost hefty amounts. But, if the influencer is fake, the hefty sponsorship deals won’t provide any increase in exposure or the conversion rates.

Apart from financial losses, there is also a colossal waste of other resources. Influencer marketing utilizes major company resources, it requires social media teams to plan a promotional strategy. If the influencer is fake, there is a substantial waste of time, resources, and money that can cause major setbacks for any business venture.

How to identify fake influencers?

Now that you are aware of the impact that influencer fraud can cause to a business, let’s dive into the ways you can protect yourself from fake influencers.

FollowerAudit

FollowerAudit is an amazing Twitter follower auditing analytics tool. It can also help users identify and block fake followers. You can spot and collaborate with the right influencer to enhance your social media horizons. It can help you audit the Twitter followers of any public Twitter account and identify influencers with fake followers.

You can also Audit your Twitter profile and purge fake followers. It can provide you precise growth estimations and help establish quality connections or amass an engaging and loyal follower base.

Check Fake Twitter Follower

FollowerAudit can help you audit the Twitter followers of any public Twitter account. You can identify fake followers or bots among your Twitter followers along with the ones that are inactive and do not engage.

It can help you build an authentic follower base that is interested in what you offer. Auditing your follower base can help you build an engaging follower base that can help you increase conversion rates and ROI.

Analyze Twitter Followers

Analyzing your Twitter followers can help you identify influential figures with huge no followers that engage with your brand. You can further analyze the Twitter followers of these influential figures to identify and partner with the right influencer.

You can also identify fake influencers with fake followers that can cause financial losses and damage your brand’s reputation.

Block Fake Twitter Followers

FollowerAudit can not only identify fake followers but also provide you with lists of fake followers and help you block them. It can help you avoid such fake accounts from infiltrating your Twitter profile again.

Track Twitter Followers

Brands develop social media strategies focusing on gaining new followers each quarter. But it is just as important to keep the existing followers engaged. However, trying to retain each follower may make you seem needy.

FollowerAudit can help you analyze and track Twitter followers that used to engage with your Twitter profile or the ones that are popular or influential figures.

Closing Thoughts

Brands need to take measures being subject to influencer fraud. It can cause major financial problems and waste valuable company resources. The worst part, it can tarnish your brand’s image and make users doubt your social media credibility.

FollowerAudit is an amazing Twitter follower auditing tool that can help you gain an authentic and engaging follower base.

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‘Influencer Fraud’: The Biggest Concern of Influencer Marketing
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