From dealing with fake influencers to negotiating fees to looking for KOLs one-by-one—the world of KOL marketing is really not free from fraud and complications. Watch this video to find out how you can combat these problems!
Irish Ong: Hey guys, welcome back! Today I want to discuss the problems we face in influencer marketing. So currently, I think influencer marketing has grown so much in the past 5-10 years. More than double actually, but I think one of the biggest problems the industry is facing right now is influencer fraud. This is where a lot of social media people start to buy fake followers, fake likes, and all these robot followers. They think that they could be more popular and have more numbers or increase vanity metrics on their instagram profiles. Well, that’s more problem!
Similarly, as we talk with a lot of brands, they mentioned that individually negotiating fees with an influencer is hard. I got someone who’s telling me that they talked to an influencer who has 10,000 followers. And maybe they’re charging 500USD. But when they talked to another influencer who has the same number of followers, it’s just 100 USD.
So it’s really not a standardized pricing in rate currently which I understand because there’s norm. Or really there’s no legal set of rates that we need to follow, right? So those high and low, different set of prices is a bit too problematic for brands. Additionally, looking for the KOLs one-by-one randomly on Instagram is very time consuming. And when you look for them you still need to verify if they’re real or not. And additionally, the engagement rate of influencers is really dramatically increasing or decreasing.
If we see that, that’s a huge problem and many many more. So, my question is: do you face any of these problems that I’ve mentioned? If not, let me know: what are the problems you’re facing with your own influencer campaign? See you next time!