It’s certainly been a busy couple of months for influencer marketing platform Buzzoole, following its additional funding and launching the “industry-first” Influence Marketing Benchmark to help improve the metrics and analysis of influencer campaigns. To add more buzz to the list, the platform has now launched its fraud detection tool based on opt-in first-party data Instagram data to identify fake accounts, followers and engagements.
Buzzoole’s fraud detection follows findings from eConsultancy, which found that 42% of brands want tools that ensure followers on influencers’ accounts are genuine and not purchased. Furthermore, Buzzoole also found that up to 20% of Instagram accounts use fraudulent techniques, which is having a crippling effect on the industry and the amount clients are willing to invest.
According to Buzzoole, influencers provide access to their social media accounts, blogs, and data such as Google analytics, Instagram and Facebook insights when they sign up. Using machine learning algorithms, Buzzoole technology processes this data, allowing brands to see a clearer picture of the influencers being used and the results of their campaigns, making it harder for them to use fraudulent techniques and giving clients more confidence to invest.
The fraud detection tool uses methodologies such as analysing the reach-to-followers ratio to indicated authenticity, measuring the rate of interaction generated from each post published, calculate the number of visits to a given influencer’s profile and insights into how many followers are online at any given time during the day.
“The key in winning this battle is first-party, opted in data from platforms like Instagram. If you are using algorithms based on poor or erroneous data then you are going to get the wrong recommendations and the wrong outcomes,” said Ian Samuel, CCO at Buzzoole.
“Plugging into this data means we can perfectly match influencers to briefs, deliver rich analytics on campaign performance and deliver clear guarantees on brands only engaging with the highest quality influencers.”