The increasing popularity of influencer marketing has given rise to a major issue for brands and marketers, “influencer fraud”.
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 and B2C marketers. Over 80% 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 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.