A New AI-Powered Tool Can Now Show Who Paid to Boost Their Engagement.
Hayden Field of Entrepreneur Magazine, on Thursday April 4th, presented an article that deals with Influencer Fraud and the financial impact that it is having on Companies that work directly with Influencers.
By the year 2020 Influencer Marketing will swell to a $5 to $10 Billion Dollar a Year Industry as more and more companies are budgeting to work with personal brand influencers. The article focuses on a U.K. -based fashion influencer who boasts of having 230,000 Instagram followers. This influencer who worked with 22 different brands in 2018 charged $1,000 per post. Turns out that 96% of her following and engagement were FAKE. The Fashionista paid a bot farm $2 for every 1,000 likes, comments or shares. This resulted in each of the 22 companies that worked with her to waste $960 per post. Influencer Fraud is becoming more and more of a problem in the social media space and companies are working harder than ever to protect their investments.
Enter Like-Wise, which launched in January 2019. It’s billed at the first tool using AI to comb through influencers profiles to detect discrepancies in engagement.
The program was developed by a company called Social Chain and it already has major retailers lined up to use the service. Giants like Amazon, FIFA, TIK Tok, Disney, Nokia, DreamWorks, NBC Universal, and Ice Cream giant Haagen-Dazs are some of the companies already using the service. You can read Ms. Field’s full story titled.