Fake Influencers Are Reportedly Costing Brands A Whopping £157 Million
Everybody makes mistakes, everybody has those days
It turns out there’s a lot of money to be made in scamming brands into thinking you’re the next Zoella.
New York marketing company, Captiv8, have revealed in The Times that brands are losing out on 200 million US dollars (which equates to £157 million) after sealing deals with fake influencers on social-media.
As a whole, brands paid around the 2.1 billion US dollars mark (£1.65 billion) to online personalities in an attempt to advertise their products or services online, but it’s now being reported that up to 11% of those accounts weren’t what they first appeared to be.
This is naturally bad news for both the brands and the social-media platforms, who have been doing their best recently to shut down fake profiles and ensure that their community is as safe and transparent as possible.
Instagram and the Advertising Standards Authority have only recently passed legislation meaning that influencers and celebrities have to make it clear when they’ve been paid to upload a post.
As a spokesperson for Captiv8 pointed out: “When you’re investing in an influencer campaign you want to know you’re reaching and engaging with real people - not fake followers,”
“But brands often struggle to differentiate genuine engagement from automation, leaving them with little choice but to cross their fingers and hope for the best - that strategy has not worked,” it added.
Here’s hoping a solution to this problem will rear its head in 2019.