Influencer culture is on all high, and it has subtly taken over the world of brand marketing. Spreading the word about a brand’s products and services through individuals with social influence becomes possible as brands attempt to broaden their horizons and reach a wider range of audiences across a variety of digital channels. These influencers are usually persons that have a large organic social media following and are capable of setting trends, influencing people’s opinions, and influencing their buying decisions
What Are The Common Red Flags Involved in Influencer Marketing?
As the influencer marketing industry grows, bad influencers arise who are just interested in making money and other rewards. Influencer fraud is a phenomena in which folks use morally dubious tactics to boost their social media numbers and entice big corporations to collaborate with them. Instagram is the most common target for such scams, as over 80% of firms use influencers to promote their products and services to a bigger audience. If you identify with this majority, you should be aware of the numerous influencer marketing frauds that abound in the field.
Buying Fake Followers-
In order to be successful in the competitive field of influencer marketing, one of the most popular frauds is the purchase of phoney followers. These are mainly persons that create the appearance of being powerful by manipulating numbers and buying phoney followers in order to gain likes and follows. In fact, it was predicted that influencer fraud would cost brands almost $1.3 billion in 2019, rising to $1.6 billion in 2020. As difficult as it may be to fathom these data, they are set to continue to rise in the coming years.
Steer Clear of Pods on Instagram-
One of the most typical frauds used to succeed in the tough business of influencer marketing is the buying of phoney followers. These are primarily people that give the impression of being powerful by manipulating numbers and purchasing phoney followers in order to increase likes and followers. Influencer fraud is expected to cost brands over $1.3 billion in 2019 and $1.6 billion in 2020, as per estimates. As perplexing as these figures may seem, they are expected to continue to climb in the coming years.
How Can Influencer Marketing Frauds Impact Your Business?
According to a Wall Street Journal report, a survey by Points North Group found that mid-level social media influencers with 50,000 to 100,000 followers can increase their number of followers by up to 20%. This is particularly concerning for marketers and their campaigns, as evidenced by the growing budget allocations to nontraditional marketing channels such as influencer marketing.Working with an influencer who has a huge number of followers but minimal organic interaction is a waste of money for a marketer.
How to Avoid Influencer Marketing Catastrophes?
Trying to get rid of these con artists may be the only way to keep the industry from collapsing. This is because, if the problem persists, businesses will eventually seek alternatives rather than wasting money on marketing tactics that yield no tangible benefits. Here are a few pointers to keep in mind if you want to avoid falling victim to one of the industry’s most common influencer marketing frauds.
Understand The Goals of Your Campaign-
Before you jump in and hire the first influencer you come across, you should first figure out what your campaign’s goal is. When it comes to setting your marketing campaign goals, the sky’s the limit! From brand awareness and garnering social media followers to app downloads and growing email subscribers, the sky’s the limit! You can reach out to influencers with followers who will resonate with your company and its mission once you’ve decided what kind of result you want from your campaign.
Choose the Right Influencers-
As a marketer, you should appoint individuals who will represent your brand with care. The last thing you want is to work with an influencer who doesn’t share your brand’s vision. Aside from the standard metrics (Reach, Engagement Rate, Relevance, Authenticity, and Content Quality) used to assess an influencer’s trustworthiness, you should also be aware of their values.
Remember Numbers Don’t Lie-
In a world where data is virtually dictating our lives, it’s safe to argue that the influencer industry thrives on numbers as well. When choosing influencers for your marketing strategy, consider how many followers they have and how engaged their latest posts are. For example, if an influencer has over fifty thousand followers but only 300-400 likes on their posts, this is a clear indication that the majority of their followers are phoney
What is Influencer Fraud and How Can It Be Prevented?
Social media platforms are used by influencers to “advertise” things to their audiences and following. Influencers love platforms like Pinterest, Instagram, Youtube, and Facebook, with 79 percent of marketers identifying Instagram as the most crucial medium for influencer campaigns.
What is influencer fraud?
Influencer fraud occurs when a social media influencer falsifies their numbers in order to appear to have more followers or influence over purchasing behaviour than they actually do. This deceit is harmful to the entire transaction because firms routinely hire influencers—or worse, compensate them—based on these metrics.Influencer fraud can show itself in one of two ways. The first involves phoney followers, and the second involves phoney sales (in this case, you might also hear it referred to as “affiliate fraud” because the influencer is acting as an affiliate for the business.
Influencer Marketing Fraud – Fake Followers
Influencers earn money by endorsing a particular business or product. This could be in the shape of a long-term relationship with a company or a one-time promotion. Influencers may provide a unique discount coupon to their followers or write about how the products have improved their lives. In the first example, the influencer could be compensated as a percentage of sales attributable to the promo code. Influencers are normally paid a fixed price in the latter, with some earning thousands of dollars every post.
