{"id":75,"date":"2020-06-04T12:15:02","date_gmt":"2020-06-04T06:45:02","guid":{"rendered":"https:\/\/www.followeraudit.com\/blog\/?p=75"},"modified":"2024-05-01T17:48:02","modified_gmt":"2024-05-01T12:18:02","slug":"what-is-influencer-fraud","status":"publish","type":"post","link":"https:\/\/www.followeraudit.com\/blog\/what-is-influencer-fraud\/","title":{"rendered":"What is Influencer Fraud and Why Should You Care?"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/4″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” column_padding_type=”default” gradient_type=”default” offset=”vc_hidden-sm vc_hidden-xs”][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” el_class=”text_block_wrapper” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”5\/6″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” column_padding_type=”default” gradient_type=”default” offset=”vc_col-lg-9 vc_col-md-12″][image_with_animation image_url=”82″ image_size=”full” animation_type=”entrance” animation=”None” animation_movement_type=”transform_y” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][vc_column_text]The increasing popularity of influencer marketing has given rise to a major issue for brands and marketers, “influencer fraud”.<\/p>\n

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.<\/p>\n

This has made influencer marketing one of the most preferred paid marketing channels by B2B and B2C marketers. Over 80% of marketers say the revenue generated from influencer marketing is similar or often more than other paid marketing channels.<\/p>\n

However, even influencer marketing has its fair share of shortcomings. The growing demand for influencers has led to the rise of influencer fraud. In 2019 alone, it was the main reason for losses of a whopping 1.3 billion dollars.[\/vc_column_text][vc_custom_heading text=”What is influencer fraud?” use_theme_fonts=”yes”][vc_column_text]\"whatTo 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.<\/p>\n

Fake influencers are social media users who seem to be genuine influencers by all accounts. They post original content on their social media profiles as all social media influencers do. However, the differentiating factor that separates them from genuine influencers is the bought fake followers.<\/p>\n

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 are fake, it\u2019s best to avoid such social media profiles when it comes to influencer marketing.<\/p>\n

Fake influencers purchase fake followers to inflate their follower count. A high follower count creates the illusion of popularity on social media. This helps them attract more followers to their social profiles.<\/p>\n

However, when real followers find no quality content, they eventually unfollow the account. Many wannabe influencers even go so far as buying fake engagement from fake accounts to seem genuine. This helps these users attract sponsorship deals from major brands and commit influencer fraud.[\/vc_column_text][vc_custom_heading text=”Why is influencer fraud a major concern in influencer marketing?” use_theme_fonts=”yes”][vc_column_text]\"influencer<\/p>\n

Before we discuss why influencer fraud is a major concern, let\u2019s look at some numbers and understand the current state of influencer marketing.<\/p>\n

In 2020, over thirty percent of B2B marketers have already increased their influencer marketing budget.<\/p>\n

In 2019, brands invested over $8.5 billion on influencers, and that number is estimated to go as far as $10 billion in 2020.<\/p>\n

With such huge budgets, it\u2019s no wonder that everyone wants a piece 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.<\/p>\n

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.<\/p>\n

Collaborating with popular influencers for maximum exposure can cost hefty amounts. But, if the influencer is fake, the hefty sponsorship deals won\u2019t provide any increase in exposure or conversion rates.<\/p>\n

Apart from financial losses, influencer fraud also leads to a colossal waste of valuable resources. Businesses have to dedicate a lot of valuable resources to ensure the success of influencer marketing campaigns. But if the influencer is fake, there is a substantial waste of time, resources, and money. This can cause major setbacks for any business big or small.<\/p>\n

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