This year, online ad spending has caused businesses to lose $1.3 billion. This is because of fake influencers.
Fraud in the cyber era emerging in the market of influencers is far higher than expected.
- Influencing market spends $8.5 Billion in 2019, the forecast for 2020 is set at $10 Billion.
- At least 15% of all influencers that exist today are fake and the cost of these comes from fake followers.
- The internet harm does not end here though. Influencers believe that more followers mean more prestige.
- Click farm clients pay an average of $49 per 1000 YouTube followers, $34 for Facebook, $16 for Instagram and $15 for Twitter.
- Taking this to a macro scale, influencers with over 1 million followers. Each post could cost businesses a loss of $25,000 per fraud influencer and $3750 per post.
- The fact that this is a cause of losses evidently shows the vanity of humans and how much we care for social status – even if it is fake.