The power of internet marketing is undeniable, something that companies like King Kong SEO reviews know all too well. Internet reviews, blogs, and paid ads are among the common ways for brand to market themselves online, though influencer marketing, where companies pay influencers with lots of followers online. It’s wildly popular, and highly profitable.
A recently published report, however, noted that the market isn’t as profitable as companies think, as fraudulent activity in this particular market cut into profits.
According to a report from cybersecurity firm Cheq, made alongside University of Baltimore economist, Professor Roberto Cavazos, states that fake followers, bought by influencers to make them look more influential than they actually are, will cost advertisers $1.3bn in 2019.
Cheq notes that this amounts to about 15% of the market, forecasted to have a total value of $8.5bn for 2019. The firm acquired that number via analyzing its data, looking at services that provide fake social media influence and engagement, as well as additional research on the market, according to Chief Strategy Officer Daniel Avital. The report, he added, is part of Cheq’s efforts to publicize the cost of bad actors on the internet.
The market is quite profitable, as noted by the same report, which stated that a ‘micro influencer’, who has around 10,000 followers can rake in $250 for a sponsored post, while someone with followers in the seven digit figures can make $250,000 in a single post.
Avital recommends that brands that utilize influencer marketing have their own verification programs in order to see that the influencers they’re working with are legitimate entities on the internet, King Kong SEO reviews and the like. He notes that such extra steps would require additional time and labour, but it’s not really a challenge to handle, as the patterns and signs that say if an influencer’s followers are fake are pretty easy to see.
Influencer marketing agency firm Obviously’s CEO, Mae Karwowski, gave an example. She notes that if an influencer has tens of thousands of followers, but only triple-digit likes and little to no comments on their posts, then that’s a clear red flag. Low engagement means that the influencer is either publishing content their followers don’t care for, or they don’t actually have followers.