You knew it was coming, marketers. Based on our martech buying research, social media marketing tools are your No. 1 purchase — by a lot. And brands big and small are optimizing SMM with influencers — but a new study finds social influencer fraud will cost you $1.3 billion in 2019.
On July 25, CBS News quotes research from cybersecurity firm Cheq:
- At least 15% of advertisers’ spending on influencer marketing is lost to fraud, costing them $1.3 billion annually.
- Mega influencers with a million or more followers can earn $250,000 per social media post, but nearly $38,000 of that money is wasted by brands on fake or inflated follower counts.
